BUSINESS
03/26/2012 06:04 pm ET

Private Student Loan Collectors Skirt Federal Laws In Face Growing Complaints

The debt collector on the other end of the phone gave Oswaldo Campos an ultimatum:

Pay $219 a month toward his more than $20,000 in defaulted student loans, or Pioneer Credit Recovery, a contractor with the U.S. Education Department, would confiscate his pay.

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