SACRAMENTO, CA, November 20, 2014 – DBA International, the voice of the debt buying industry, supports U.S. Attorney Preet Bharara’s recent actions that ended an alleged multi-million dollar debt collection scam targeting consumers in 50 states.
The owner and six employees of Williams, Scott and Associates (WSA) were arrested on charges of conspiracy to commit wire fraud. According to the U.S. Attorney, between 2006 and 2014 the company deceived more than 6,000 people out of $4.1 million. Allegedly, WSA attempted to collect phantom debts by tricking and coercing consumers into making payments on debts they did not rightfully owe by threatening arrest, amongst other illegal tactics. The defendants now face a maximum sentence of 20 years in prison.
“This case highlights how abusive and illegal practices employed by one company can shed a negative light on an entire industry,” said DBA International Executive Director Jan Stieger. “DBA International supports legal and regulatory actions against companies that prey on consumers, which is why we created our national certification program.”
DBA International’s Debt Buyer Certification Program represents a comprehensive national standard of industry best practices. It stresses responsible consumer protection, increased transparency and improved educational and operational standards within the industry, in addition to adhering to all state and federal laws and regulations.
The debt buying industry is a critically important segment of the nation’s credit-based economy and the majority of companies involved in debt collection take this responsibility seriously. DBA International continues to support enforcement actions against companies that use illegal tactics to collect money they are not legally entitled to collect.