According to a review of the study in the National Law Journal, published January 30, 2013, the FTC study examined data on debt buyers, and evaluated over 5,000 portfolios containing nearly 90 million consumer accounts with a face value of $143 billion. It is common practice for creditors to sell debt that they have not collected to debt buyers.
The FTC found that debt buyers try to collect about one million debts that consumers assert they don’t owe" and this is every year. The FTC wrote the "proper handling of this large number of disputed debts is a significant consumer protection concern."
Another "major concern" for the FTC is the conduct of some debt buyers in collecting, threatening to sue, or suing on debt that is time-barred. Currently, there are three pieces of federal legislation to protect consumers from invasive debt collectors. Those are the Fair Debt Collection Practices Act, the Fair Credit Reporting Act and the Telephone Consumer Protection Act. Together, these statutes set out when debt collectors can contact debtors, how they can contact debtors and what action they can legally take against consumers who owe money.