About the AuthorSergei Lemberg is a nationally recognized expert in fair debt collection practices, lemon law, and other consumer law. IntroductionAmerica is in a debt collection crisis. Consumers owe more debt than ever, have fewer assets than ever with which to pay it, and debt collectors and their lawyers are getting more aggressive by the day in trying to collect it. Analysts will be pontificating for years, but it wasn't that long ago when - on paper at least - our assets painted a rosy picture. The stock market was booming, home values were skyrocketing, 401(k)s were going through the ceiling, and everyone believed there was no end in sight. People weren't saving money, and were spending more than they made. Predatory lenders were offering too-good-to-be-true deals on everything from sofas and cars to home loans and vacation rentals. Not anymore.
