Los Angeles Business Journal

Problems for Lenders Trying to Collect Credit Card Debt

Monday, August 13, 2012

The same problems that plagued the foreclosure process – prompting a multibillion-dollar settlement with big banks — are now emerging in the debt collection practices of credit card companies. The New York Times reports that American Express, Citigroup and other are going to court to recoup their money but many of the lawsuits rely on erroneous documents, incomplete records and generic testimony from witnesses.