Debt collectors threaten arrest

The idea, on the surface, sounds interesting. But who's going to pay for that? And where will those bills go when it becomes bad debt?

Again, Ace, not trying to stir a pot here. These things we're discussing are usually chores we do ourselves in an attempt to maximum our savings and minimize our expenses.

 

We've had a different debt collection agency -- equally notorious based on everything I've read online -- calling us twice-a-week for several months now trying to pull off this scam.

We have no outstanding debt that's past due. The banks know it, we've successfully refinanced our house and bought a car in the past six months with no hassle on the re-fi and an excellent rate on the car loan.

My policy is if I don't have a letter from someone saying I'm past due on a bill, I don't acknowledge that the debt collector exists. Keep leaving messages, bitches, I ain't calling you back.

 

I've been thinking that an article about student loan debt collection might not be a bad way to go.
You've gotta figure that defaults and late payments are going up because of the bad economy and then you have to think that debt collection is getting more aggressive you probably have some people out there with some horror stories, but I think that student loan collection is a different animal than credit cards.
I think the law gives more protection to loan collection efforts.

 

I'll admit to being ignorant about how the whole thing works, but is there a legitimate reason why these companies charge 27 percent interest when somebody is a day late? If they didn't or couldn't, would they have to charge everyone higher rates across the board or would some people not be able to get credit who otherwise would?
Or do these companies just do it because they can?

 

They do it because they can and they are especially doing it now because the law has been changed and they government won't allow it without notification, etc.

Basically, though, you agreed to all this in the six pages of fine print that came with your credit card.

If you don't have credit card debt, don't ever start.

 

Why wouldn't "because they can" be a valid reason?

This is unsecured debt used mostly for consumer purchases. It should be expensive.

 

Yep, back in the day I would have reached through the phone and pulled out some of these guys' digestive systems if I could. I get that they're trying to collect a legally owed debt, that they're under a lot of pressure trying to do their own jobs, that their incomes are based on how much they collect, blah blah blah. But if you have it in you to talk to a stranger the way some of these people do, you're an asshole to begin with.

I'd live in a box before I'd make a living verbally assaulting people who are in a bad spot.

 

Best way to get a collector to stop calling is to put a child on the phone. Works every time.

 

I'd object to doing that with children. Handle your own issues - no matter how nasty and out-of-line some collectors are - and protect your children.

 

Sam, once a kids comes on talking jibberish, the debt collector hangs up.

 

Maybe ... can't speak from experience. But if the collector says something he shouldn't, that's something you can't simply explain to a child and you can't make a collector take it back.

There are certain things a child shouldn't be subject to. Handle your own business and let a child be one for a while longer.

 

Sam, I never had a problem with a debt collector cursing out a young one on the phone. As I said, they always hung up and really never much of a problem after that.
In fact, I would pretend to be a child a few times and they always hung up. I'm telling you it works. Try it.