No Surprise at the Top of FTC Complaint Chart: It's Private Debt Collectors""Again

25.03.08 - 22:41 ... source : NTEU

... Washington, D.C.""In both total number of complaints and as a percentage of all consumer complaints, the debt collection industry once again finds itself squarely at the top of the charts in the Federal Trade Commission (FTC) annual report to Congress as the most complained-about industry in America. The report comes just weeks after the Internal Revenue Service (IRS) renewed the contracts of two private companies to collect taxes despite the failure of the IRS private tax collection program""and in the face of consistent strong opposition to it from both within and outside the IRS, led by the National Treasury Employees Union (NTEU). The program incurred a $50 million net loss in its first year of operation, and is not expected to reach the break-even point until fiscal year 2010 at th ...» Next (HTML)