Shake-Down: Debt Collection Company unjustly collects $9.4 million according to District Court

The company called nationwide and threatened people who picked up the phone a lawsuite was on the way. The company was recently What many pressured by debt and debt collectors do not know is a debt collector can not legally threaten any action they do not intend to take. Doing so is a clear violation of the Federal Debt Collection Practices Act- FDCPA. Moreover, this violation is easy to prove. Simply put, if the company's normal practice is not to sue in similar cases a threat to sue is against the law. For the inquiring mind, the FDCPA legislation is here FDCPA. If you have questions about a credit account visit Credit Repair Houston a visit for a free evaluation.

For more on the court action you can find it here

Credit Scores Sinking

If you have questions about your credit in general or your credit score in particular you are not alone. Give the folks at fix credit houston a call for a free credit repair evaluation. Millions of Americans have credit scores sinking to new lows. Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It's unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use.

ICO's latest analysis is based on consumer credit reports as of April. Its findings represent an increase of about 2.4 million people in the lowest credit score categories in the past two years. Before the Great Recession, scores on FICO's 300-to-850 scale weren't as volatile, said Andrew Jennings, chief research officer for FICO in Minneapolis. Historically, just 15 percent of the 170 million consumers with active credit accounts, or 25.5 million people, fell below 599, according to data posted on Myfico.com.

There is more here at the link: http://m.cnbc.com/us_news/38199287