thats good news..hopefully it will put them out of business and all the other unscrupulious collectors out there a message to follow the laws.
That shows us how much you know about enforcement by the FTC. They don't usually fine them enough to put them out of business no matter what they have done. It usually take continued illegal activity after having been fined once or twice by the government. FTC tries to make them correct their illegal activities first before going so far as to put them out of business. In many cases FTC has levied huge fines then suspended them because if they had to pay the fine it would put them out of business. Only the really small collection agencies fear a fine by FTC. The larger ones know that all they will get is a slap on the wrist so they pay the fine and just keep on doing the same old thing over and over again. Will it be a lesson to other debt collectors? Slim chance. It's always the other guy that gets caught.
either way its not my problem and nothing that i have to worry about. but it is nice to see the gov't finally doing something about the kind of collectors that are abusive.
