According to a recent study by the Consumer Financial Protection Bureau (CFPB), members of the military submit debt collector complaints at twice the rate of civilians. Debt collection, mortgages and credit reporting were the subject of most of the complaints, according to the CFPB’s report.
While the higher rate of complaints could be due to a variety of factors, including time away for deployments and frequent moves from base to base, it is concerning because unpaid debts can threaten a military career.
The complaints concern disputes over money owed, debt collector calls to commanding officers and threats against security clearances held by service members. Veterans also complained of bill collectors trying to collect on medical bills that should have been paid for by the Department of Veterans Affairs.
It is unfortunate that the brave men and women who serve our country are being targeting by these unfair, deceptive and abusive debt collection practices. But it also comes as a warning to members of the military to diligently check their credit reports and proactively protect their credit files while away from home.
If you are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.
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