Inside America’s Debt Collection Industry

 - Photo Illustration by Spencer Platt/Getty Images

Photo Illustration by Spencer Platt/Getty Images

Inside America’s Debt Collection Industry

A new study says 35 percent of Americans are facing debt collection. Now, government regulators are taking a closer look at how the industry operates. We take a look inside America’s debt collection industry.

A new study says more than 35 percent of Americans have debt that has been reported to a collections agency. Even as credit card debt continues to decline, the share of Americans facing collectors’ calls hasn’t budged. The U.S. Consumer Financial Protection Bureau is taking a hard look at the collections industry, and is poised to issue game-changing new regulations. Amid allegations that debt collections claims are frequently incorrect or improperly managed, firms that file lawsuits to collect money on unpaid bills are now in the hot seat. We take a look inside America’s debt collection industry.

Guests

Josh Boak

economics writer, The Associated Press.

Mark Calabria

director of financial regulation studies, the Cato Institute.

Peter Holland

consumer lawyer; adjunct professor at the University of Maryland Carey School of Law.

Margot Saunders

of counsel, the National Consumer Law Center.

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