just thinking out loud about the collection procedures
Date: Fri, 10/28/2005 - 10:29
on the other hand---if a collection agency is only 'hired' to collect a debt by the creditor and they didn't purchase it--shouldn't they be able to produce all of the paperwork and provide validation? shouldn't they be able to call creditor up and ask for everything to be sent? just thinking out loud here. thanks shirley
Shirley, Every agency wants to do business so that they are a
Shirley,
Every agency wants to do business so that they are able to earn some profit. Some do it in the legal way and some use illegal methods to cheat the consumers and make money.
Most of the collection companies doing illegal business purchase junk debt from the creditors and start contacting people. There are times when they get wrong information about the person and end up contacting a wrong one.
Since these companies employ their staff on commission basis which is very highly paid, the rep. uses every means to recover money from the people so that he earns his perks and incentives.
More than half of the people are not aware of the consumer protection act afforded by the fdcpa and FCRA. Things even get tougher when unfair means of bullying and intimidating people are used. No one wants to undergo legal actions and falling prey to these scary tactics, they consider paying rather than disputing it.
People in collections also know that it is easier to bully an uninformed consumer rather than intimidating an informed one. So, they are always on the search for such people who will pay money to them at any cost. Unfortunately, this is also one of ways business being done.
But at the same time, I must say that there are legal companies also doing descent business. They don't have any problems in providing proof and other documentations. They do their homework properly before getting in touch with people and respect them.
I feel that everything has two sides. One is good and the other is bad. Bad things get exposed very easily and that is the reason why these types of forum are existing. You can find solutions to your problems after your problem is identified and that can be done by discussing in groups. We, as a community are trying to spread the word that we should stand together in all our debt related problems and offer reasonable suggestions. Your suggestion can actually help someone who is in dire need.
Thanks Shirley for bringing up this discussion to the community.
Regards
Roxette
