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The largest fine in history for a violation of the Fair Debt Collection Practices Act has been leveled on a collection agency by the Federal Trade Commission last month. The Georgia company, West Asset Management, allegedly violated the Act with its aggressive techniques, and agreed to pay a settlement of $2.8 million. The settlement came after thousands of customer complaints against the collection agency, which employs about 1,500 people in 13 states, as well as in the Philippines. The collection agency has many clients in several industries, including government services, health care, telecommunications, and consumer credit.
The FTC claims that West Asset Management utilized several illegal techniques, including numerous harassing phone calls to debtors, improperly informing third parties about consumer debts, and claiming that it was a law firm that could have consumers jailed or fined, garnish their wages, or seize and sell their property if they did not pay debts. Additionally, West Asset Management attempted to collect partial payments by telling consumers they would be accepted in lieu of full payments.
The civil settlement also came after complaints revealed that many consumers were called with relation to accounts and debts that belonged to other people, that debt collectors used insulting and even obscene language on the phone, and continuing to call even after consumers requested that the company stopped contacting them. Additionally, the collection agency illegally charged consumers’ credit cards, as well as withdrawing money from accounts without being authorized to do so by the account holders.
This record settlement also comes with the stipulation that West Asset Management cease its predatory and illegal techniques, and the FTC has reminded consumers affected by the ruling to immediately contact them should they experience any more of these tactics being utilized by this collection agency.
If you are receiving collection calls and or letters from West Asset Management contact a fair debt lawyer today for a free review, if they’ve violated your fair debt collection rights, or if you need help settling your debt, we can help!
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