ChexSystems...Violates Debtor rights! Conflict of interest raises eyebrows!

The company is a mysterious entity that wields a lot power - and for the most part - has the capacity to ruin the personal lives of thousands of U.S. citizens struggling day-in and day-out to make ends meet.

Of course, I'm referring to ChexSystems, which is a debt reporting agency (a giant in the industry) that willfully and wrongfully engages in highly illegal despicable conduct in direct Violation of the rights of the individual pursuant to the Fair Credit Reporting Act.

But, it is doubtful that ChexSystems (or the owners) will ever be prosecutied for their illegal acts, for obvious reasons.

Either the Government (The Federal Trade Commssiion) or Law Enfforcement Agencies don't care - or in the alternaive - Officials may be on the take looking the other way.

How else would it be possible for ChexSystems to become one of the most influential data reporting agencies in America (with an obvious monopoly on the territory) if that were not the case?

Notwithstanding, ChexSystems Violates the Fair Credit Reporting Act on a daily basis.

For example, although the mammoth corporation is required to verify if a "returned" (bad) check is the responsiblity of a specific individual on file, ChexSystems willfully refuses to contact the alleged debtor to allow the individual his-or-her right to dispute the records on file.

Instead, they rubber-stamp the check NSF, and proceed to summarily post a negative notation on the U.S. resident's credit bureau file.

The Fair Credit Report Act stipulates with particularity that pursuant to due process of Law, the consumer must be contacted first, and be allowed to dispute the item orbe given the chance to provide a defense on their behalf.

Consequently, many Americans remain in the dark about negative item seriously affecting their credit rating, until they are denied an account by a creditor such as US Bank, Citibank, or Wells Fargo.

Failure to abide by the law - which is recognized on both State and Federal levels, would entitle the consumer to stututory penalties (money award) for the damages sustained.

In addition, ChexSystems also engages in highly unethical conduct which ends up adversely affecting the complaining consumer.

For instance, although ChexSystems is a data reporting agency, they also double as a collection agent.

Subsequently, their involvement in the recovery of debt, amounts to a conflict of interest.

ChexSystem should report the consumer information without bias, prejudice, or motivating self-interest.

Because ChexSystems receives a percentage on debts collected, it is in their best interest to actively deny debtor claims.

In sum, ChexSystems is an unethical, dishonest company, that willfully and wrongfully violates the rights of consumers - and ultimately - is guilty of criminal conduct which warrants review and appropriate disciplinary (and criminal) action.

Consumers wiho have encountered the aforementioned dishonest conduct - and suffered violations of their rights - should file a complaint against ChexSystems with the Federal Trade Commssion, Law Enforcement Agencies such as the FBI and the State Attorney General's Office, and the Better Business Bureau.

If necessary, consumers are urged to file a lawsuit to recover statutory penalties ($1,000.00 ) they are entitled to with the aim of compensating losses suffered due to a denial of credit, housing, or job opportunities and to deter such heinous conduct in the future.

News at 11!

http://www.thetattler.biz

NCO Financial Services...threatens & harasses debtors! Violates Fair Credit Reporting Act!

If you've been having a tough time in the current economy and having trouble making monthly paymentx on a bill - or got a little sloppy on the I-15 Highway in downtown Las Vegas and landed a moving violation - chances are you are quite familiar with a company by the ominous name of NCO Financial Services.

After all, NCO is one of the largest debt collectors in the country, which is making quite a name for itself in the courts and in the criminal complaint departments at local Police Stations, the FBI, and the U.S. Department of Justice.

For good reason.

In the past, the Federal Trade Commission fined NCO and its agent, s upwards of 1.5 million dollars in statutory penalties for Violating Consumer Rights and for willfully and wrongfully refusing to abide by State and Federal Laws pursuant to the Fair Credit Reporting Act.

You name it!

However, those paltry penalties have not instilled any fear of the law in the criminals who run NCO.

No, Sir!

At press time, NCO was still committing shocking crimes against consumers, and thumbing their noses at the FTC and the U.S. Government.

For example, debtors have complained to various Government and Consumer Protection Agencies that NCO employees have called their homes, offices, and cell phone numbers in excess of ten times daily!

The Fair Credit Reporting Act (Consumer Bill of Rights) stipulates that debt collectors are legally barred from making more than 1 call per day.

In addition, NCO employees have hurled slurs at debtors, threatened bodily harm, and tried to coerce indivdiuals into paying excessive sums (penalties, illegal surcharges, and outrageous interest fees) under threat of prosecution.

The NCO employee harassment did not end there, however.

On many occasions, Managers at NCO hid their true identities when calling up debtors - in addition to impersonating individuals allegedly working for law enforcement, the telephone company, financial institutions, and so-forth-and-so-on – in a deceitful underhanded ploy to coerce payments and glean information about their clients by illegal means which were in direction violation of the individuals’ rights pursuant to the Fair Credit Reporting Act, the Bill of Rights, and the U.S. Constitution.

In addition, NCO employees contacted third parties (employers) and made false statements about their clients in a bold-faced effort to damage the names and reputations of the debtors in question.

Currently, there is a class-action suit being lodged against NCO on behalf of the injured parties, which is expected to move forward in the Federal Court of Jurisdiction in the near future.

Consumers so situated are urged to lodge formal complaints against NCO with the Federal Trade Commission (where applicable), the Better Business Bureau, the U.S. Department of Justice, and the FBI criminal complaint division to deter such heinous conduct in the future.

News at 11!

http://www.thetattler.biz