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Debt collection harassment all too common

MGN

Ever had a problem with debt collectors? You're not alone. Jane King reports on that story and more.

Takata Air Bags


Takata is expected to plead guilty to criminal wrongdoing and pay a billion dollars over its handling of air bag ruptures.

The settlement includes a $25 million criminal fine, $125 million in victim compensation and $850 million to compensate automakers who have suffered losses from massive recalls.

Meanwhile, Ford is expanding its airbag recall, and it now includes 3 million vehicles.

Debt Collection Harassment


The Consumer Financial Protection Bureau finds that harassment by debt collectors is all too common.

One-in-four consumers contacted by debt collectors for unpaid bills or loans in the last 12 months felt threatened during the interaction.

While the report does not break the threats down specifically, debt collectors in the past have been found to threaten consumers with arrests, deportation, and bogus lawsuits.

One-third of consumers also said they had been contacted an inconvenient times, including between 9 p.m. and 8 a.m., and nearly 40% said they’d been contacted four or more times a week. Plus, three-in-four of the 40% of consumers who asked a debt collector to stop contacting them said the debt collector did not honor the request.

More than half of the consumers surveyed also reported at least one error in the collection effort. The errors included an incorrect amount, a debt that was not owed, or the person who owed the debt was a family member.

CLICK HERE to check out the Consumer Experiences with Debt Collectors Report

The Consumer Financial Protection Bureau says it handles more complaints about debt collection than any other financial product or service. The agency is sharing stories about people who have faced different debt collection issues.

CLICK HERE to check out the Consumer Debt Collection Stories

eBay working to spot counterfeit merchandise


Ebay is doing more to spot counterfeit items.

Ebay says from now on it will use a network of professional authenticators to inspect certain high-end products to make sure they aren’t fakes.

Once an item sells, the authenticator will examine the product. If it passes, it is shipped to the buyer.

Intel’s 360 at Super Bowl


Intel’s 360 replay technology will, for the first time, include a quarterback’s point of view at this year's Super Bowl.

To help show off the tech, it's turning to Tom Brady of the New England Patriots.

The 360 technology will be used during the big game and has 38 cameras to digitize the field to recreate plays and collect data.

Nasdaq snaps 7-day winning streak


The Nasdaq snapped a 7-day winning streak as stocks cooled ahead of earnings, which kick off today.

The Nasdaq, Dow and S&P 500 all closed lower.

U.S. stock markets are closed Monday in observance of Martin Luther King Jr. day.

Americans drinking less milk but eating more cheese


Americans have been gradually drinking less and less milk over the past few decades.

But dairy farmers aren’t too worried. We’re making it up in cheese.

On average, we eat twice as much cheese every year as Americans did in 1980, or around 35 pounds each.




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