Download or read book The Structure and Practices of the Debt Buying Industry written by Federal Trade Commission and published by CreateSpace. This book was released on 2015-01-13 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a 2009 study of the debt collection industry, the Commission concluded that the “most significant change in the debt collection business in recent years has been the advent and growth of debt buying.” “Debt buying” refers to the sale of debt by creditors or other debt owners to buyers that then attempt to collect the debt or sell it to other buyers. Debt buying can reduce the losses that creditors incur in providing credit, thereby allowing creditors to provide more credit at lower prices. Debt buying, however, also may raise significant consumer protection concerns.The FTC receives more consumer complaints about debt collectors, including debt buyers, than about any other single industry. Many of these complaints appear to have their origins in the quantity and quality of information that collectors have about debts. In its 2009 study, the Commission expressed concern that debt collectors, including debt buyers, may have insufficient or inaccurate information when they collect on debts, which may result in collectors seeking to recover from the wrong consumer or recover the wrong amount.The FTC initiated this debt buyer study in late 2009 for two main purposes. First, the FTC sought to obtain a better understanding of the debt buying market and the process of buying and selling debt. Second, the Commission wanted to explore the nature and extent of the relationship, if any, between the practice of debt buying and the types of information problems that the FTC has found can occur when debt collectors seek to recover and verify debts.Many stakeholders recognize the concerns that have been raised about debt buying, including consumer groups, members of Congress, federal and state regulatory and enforcement agencies, and the debt buyer industry itself. Indeed, the debt buyer industry has launched a self-regulatory effort to address some of these concerns, and the FTC is encouraged by that effort. This study of debt buyers is the first large-scale empirical assessment of the debt buying sector of the collection industry. The FTC hopes that its findings contribute to a greater understanding of debt buying, enhance ongoing reform efforts, and prompt further study of the industry. To conduct its study, the Commission obtained information about debts and debt buying practices from nine of the largest debt buyers that collectively bought 76.1% of the debt sold in 2008, with six of these debt buyers providing the information the Commission used in most of its analysis. The FTC also considered its prior enforcement and policy work related to debt collection, as well as available research concerning debt buying. The study focused on large debt buyers because they account for most of the debt purchased; it did not address the practices of smaller debt buyers that are a frequent source of consumer protection concerns, a limitation that must be considered in evaluating the study's findings. The Commission acquired and analyzed an unprecedented amount of data from the studied debt buyers, which submitted data on more than 5,000 portfolios, containing nearly 90 million consumer accounts, purchased during the three-year study period. These accounts had a face value of $143 billion, and the debt buyers spent nearly $6.5 billion to acquire them. Most portfolios for which debt buyers submitted data were credit card debt, with such debt accounting for 62% of all portfolios and 71% of the total amount that the buyers spent to acquire debts. In addition to these data, the debt buyers provided copies of many purchase and sale agreements between themselves and sellers of debts. The debt buyers also submitted narrative responses to questions concerning their companies and their practices, as well as the debt buying industry. The key findings of the study are as follows:

Download or read book The Structure and Practices of the Debt Buying Industry written by United States. Federal Trade Commission and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Debt Buying Industry and Changes in Collection of Consumer Debts written by Paul B. Davis and published by Nova Science Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a 2009 study of the debt collection industry, the Federal Trade Commission (FTC) concluded that the most significant change in the debt collection business in recent years has been the advent and growth of debt buying. Debt buying refers to the sale of debt by creditors or other debt owners to buyers that then attempt to collect the debt or sell it to other buyers. Debt buying can reduce the losses that creditors incur in providing credit, thereby allowing creditors to provide more credit at lower prices. Debt buying, however, also many raise significant consumer protection concerns. The FTC receives more consumer complaints about debt collectors, including debt buyers, than about any other single industry. Many of these complaints appear to have their origins in the quantity and quality of information that collectors have about debts. This book provides an overview of the debt buying market and the process of buying and selling debt; and the nature and extent of the relationship between the practice of debt buying and the types of information that the FTC has found can occur when debt collectors seek to recover and verify debts.

Download or read book Model Fair Debt Buying Practices Act written by Rachel Berkness and published by . This book was released on 2015 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Fair Debt Buying Practices Act would regulate the activities of a person or entity that has purchased charged-off debt. It would establish clear procedures, minimum documentation requirements, and affirmative obligations before a debt buyer can: (1) contact a debtor, (2) initiate a lawsuit, and (3) obtain and collect on a judgment. The Act will help to curb some of the worst abuses in the debt buying industry, ensure that consumers are not forced to pay debts they do not owe, and reduce frivolous lawsuits in state courts.

Download or read book Repairing a Broken System written by Jon Leibowitz and published by DIANE Publishing. This book was released on 2010-11 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creditors and collectors seek to recover consumer debts through the use of litigation and arbitration. But, neither litigation nor arbitration currently provides adequate protection for consumers. The system for resolving disputes about consumer debts is broken. To fix the system, federal and state governments, the debt collection industry, and other stakeholders should make a variety of significant reforms in litigation and arbitration so that the system is both efficient and fair. Contents of this report: Introduction; Litigation and Arbitration Proceedings; Conclusion. Appendices: Debt Collection Roundtable (DCR) Panelists; Contributors to DCR; Agendas for DCR; DCR Public Comments; Sample State Debt Collection Checklists. Illustrations.

Download or read book Debt for Sale written by Brett Williams and published by University of Pennsylvania Press. This book was released on 2011-04-20 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit and debt appear to be natural, permanent facets of Americans' lives, but a debt-based economy and debt-financed lifestyles are actually recent inventions. In 1951 Diners Club issued a plastic card that enabled patrons to pay for their meals at select New York City restaurants at the end of each month. Soon other "charge cards" (as they were then known) offered the convenience for travelers throughout the United States to pay for hotels, food, and entertainment on credit. In the 1970s the advent of computers and the deregulation of banking created an explosion in credit card use—and consumer debt. With gigantic national banks and computer systems that allowed variable interest rates, consumer screening, mass mailings, and methods to discipline slow payers with penalties and fees, middle-class Americans experienced a sea change in their lives. Given the enormous profits from issuing credit, banks and chain stores used aggressive marketing to reach Americans experiencing such crises as divorce or unemployment, to help them make ends meet or to persuade them that they could live beyond their means. After banks exhausted the profits from this group of people, they moved into the market for college credit cards and student loans and then into predatory lending (through check-cashing stores and pawnshops) to the poor. In 2003, Americans owed nearly $8 trillion in consumer debt, amounting to 130 percent of their average disposable income. The role of credit and debt in people's lives is one of the most important social and economic issues of our age. Brett Williams provides a sobering and frank investigation of the credit industry and how it came to dominate the lives of most Americans by propelling the social changes that are enacted when an economy is based on debt. Williams argues that credit and debt act to obscure, reproduce, and exacerbate other inequalities. It is in the best interest of the banks, corporations, and their shareholders to keep consumer debt at high levels. By targeting low-income and young people who would not be eligible for credit in other businesses, these companies are able quickly to gain a stranglehold on the finances of millions. Throughout, Williams provides firsthand accounts of how Americans from all socioeconomic levels use credit. These vignettes complement the history and technical issues of the credit industry, including strategies people use to manage debt, how credit functions in their lives, how they understand their own indebtedness, and the sometimes tragic impact of massive debt on people's lives.

Download or read book Public Sector Debt Statistics written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-12-08 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.

Download or read book Guidelines for Public Debt Management Amended written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-09-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book DEBT Buying Selling written by Steven Hefline and published by Independently Published. This book was released on 2024-06-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: DEBT BUYING / SELLING provides the basis for understanding the consumer and commercial debt industry. This guidebook not only covers what you need to navigate this lucrative business but it also provides a WEBINAR that details HOW the industry operates and the best ways to enhance YOUR profitability! Many businesses and individuals are making lots of money in this industry. Millions of dollars of charged-off debt is sold every day by major financial institutions. Credit cards, Personal loans, Lines of credit, Vehicle loans, Medical debt, Leases, Overdraft accounts, Retail installment contracts, Judgments, Real estate liens, and more. Just think...YOU CAN DO THIS TOO! DEBT BUYING / SELLING is your gateway to this amazing Money-Making Debt Industry. Not only do you receive the book "Debt Buying / Selling", you also gain insight from the Webinar "Debt Buyer RoadMap". DEBT BUYER ROADMAP is THE WEBINAR to watch if you truly want a Real Business with Real Results that is recession proof. No gimmicks, no fairytales, no buying anything else. Real acquisition of debt accounts for pennies on the dollar. PLUS, you also receive a $3,000 Face Value Debt Portfolio of actual accounts that you OWN! A sale contract is provided for you to fill out and return at your convenience. At last, a REAL BUSINESS that anyone can launch (and see real results) without having any experience or tech skills...Guaranteed! Overview of Debt Buying and Selling How to buy debt for PENNIES on the dollar Understanding Debt Buying Why Companies Sell Debt Process of Selling Debt - And More! Additional Resources (See page 3 for instructions) Sample Contracts - FDCPA Guide Directory of Collection Agencies $3,000 Face Value Debt Portfolio Debt Buyer RoadMap is committed to helping you build a successful business, whether you're a complete beginner starting from scratch or an experienced business owner just looking for an additional revenue source. debtbuyerroadmap is here to help you with your success. This is a limited offer, so take advantage NOW!

Download or read book Dietary Supplements written by United States. Federal Trade Commission. Bureau of Consumer Protection and published by . This book was released on 1998 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book External Debt Statistics written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-06-25 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Guide provides clear, up-to-date guidance on the concepts, definitions, and classifications of the gross external debt of the public and private sectors, and on the sources, compilation techniques, and analytical uses of these data. The Guide supersedes the previous international guidance on external debt statistics available in External Debt: Definition, Statistical Coverage, and Methodology (known as the Gray Book), 1988. The Guides conceptual framework derives from the System of National Accounts 1993 and the fifth edition of the IMFs Balance of Payments Manual(1993). Preparation of the Guide was undertaken by an Inter-Agency Task Force on Finance Statistics, chaired by the IMF and involving representatives from the BIS, the Commonwealth Secretariat, the European Central Bank, Eurostat, the OECD, the Paris Club Secretariat, UNCTAD, and the World Bank.

Download or read book A Primer on Managing Sovereign Debt Portfolio Risks written by Thordur Jonasson and published by International Monetary Fund. This book was released on 2018-04-06 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets.

Download or read book Capital Structure and Corporate Financing Decisions written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-03-31 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.

Download or read book Eating Grass written by Feroz Khan and published by Stanford University Press. This book was released on 2012-11-07 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: The history of Pakistan's nuclear program is the history of Pakistan. Fascinated with the new nuclear science, the young nation's leaders launched a nuclear energy program in 1956 and consciously interwove nuclear developments into the broader narrative of Pakistani nationalism. Then, impelled first by the 1965 and 1971 India-Pakistan Wars, and more urgently by India's first nuclear weapon test in 1974, Pakistani senior officials tapped into the country's pool of young nuclear scientists and engineers and molded them into a motivated cadre committed to building the 'ultimate weapon.' The tenacity of this group and the central place of its mission in Pakistan's national identity allowed the program to outlast the perennial political crises of the next 20 years, culminating in the test of a nuclear device in 1998. Written by a 30-year professional in the Pakistani Army who played a senior role formulating and advocating Pakistan's security policy on nuclear and conventional arms control, this book tells the compelling story of how and why Pakistan's government, scientists, and military, persevered in the face of a wide array of obstacles to acquire nuclear weapons. It lays out the conditions that sparked the shift from a peaceful quest to acquire nuclear energy into a full-fledged weapons program, details how the nuclear program was organized, reveals the role played by outside powers in nuclear decisions, and explains how Pakistani scientists overcome the many technical hurdles they encountered. Thanks to General Khan's unique insider perspective, it unveils and unravels the fascinating and turbulent interplay of personalities and organizations that took place and reveals how international opposition to the program only made it an even more significant issue of national resolve. Listen to a podcast of a related presentation by Feroz Khan at the Stanford Center for International Security and Cooperation at cisac.stanford.edu/events/recording/7458/2/765.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Complying with the telemarketing sales rule written by and published by . This book was released on 2004 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.