PN Financial, a Chicago based collection agency, tried to take advantage of what they perceived to be a loosely regulated industry. Unfortunately for them, they found out the hard way that unlawful collection actions will no longer be tolerated.
According to Illinois Attorney General Lisa Madigan, “The allegations are really some of the worst that I’ve seen. “There were multiple violations of state and federal law. And they include that PN Financial routinely pretended that they were a law firm when they were contacting consumers.”
She went on to say that PN Financial also allegedly went so far as to debit more money from their debtors bank accounts than what was agreed upon.
These allegations are all to common in the current state of the collection industry. But as cases such as these illustrate, it will be increasingly difficult, if not impossible, to get away with unjust activities such as those alleged here.
And that is great news for us! Why?
Because as more and more unscrupulous agencies drop out the business (or are more likely forced out because their business models no longer work) Ropay Asset Investors will have ever increasing opportunity to capitalize on a once in a lifetime opportunity.
Do Good and Make Money!