Collection agency

Trying to fix an error on your credit report? Here's some good news!

According to a study from the Urban Institute, an estimated 1 in 3 adults, around 77 million people, are so far behind on their debt that their account has been placed in collections.

More and more, people with outstanding debts are finding themselves in the crosshairs of swarms of collections agencies.

Tess talks with David Lazarus of the the Los Angeles Times about how to cope with possible identity theft, the tax implications of airmiles and handling your credit profile when collectors come calling.