Debt Collection Agencies

About Time For Regulation Of Credit Bureaus and Debt Collection Agencies!

The Consumer Financial Protection Bureau is taking steps to supervise and to investigate the abuses of the three national credit bureaus and debt collection agencies, both of which have abused their power, and in the process, have ruined the lives of millions of Americans over a period of many years.

The credit bureaus have the ability to destroy a person’s credit rating, and deny such persons the ability to get a decent credit card interest rate, mortgages, auto loans, and even student loans.

Debt collection agencies have long been infamous for calling people at all hours, harassing them, and driving many people who owe money, but have no means to pay, to the point of lunacy.

These kinds of practices need to be stopped, and this is further proof of the virtues of this new agency opposed by big business corporations and the Republican Party. It is time that the American people are fairly represented in disputes over their credit worthiness and debt, and we can thank President Obama’s administration for courageously taking action to deal with this long held grievance by average Americans.