Re: Can we do something about Gulf State Credit?

Posted by CardReport.Com on March 30, 2001 at 16:19:57:

In Reply to: Can we do something about Gulf State Credit? posted by Robert on March 29, 2001 at 12:03:19:

:At what point does the FTC do something about
:this (i.e. investigate and reprimand)? If we all
:send in complaints, will that help?

Yes, that is the idea. The Federal Trade Commission
will *not* get involved with individual consumer
disputes, but if they receive enough complaints
to show a general pattern of abuse by a certain
company, then they will be more likely to take
action. This would consist of things like monetary
penalties and official orders to cease certain types
of activities (with further threatened penalties
for violating such orders.) In very blatant cases,
the FTC could put someone out of business, and
order them to never run a particular type of business
again.

In the case of abuse collection agencies, my understanding
is that the penalties may be in the form of ordering
the agency to forgive a portion of the debt involved
(for example, a certain amount might be deducted
for each instance of excessive harassment in violation
of the Fair Debt Collection Practices Act.)

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