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Gotta love those lyin' collection agencies [View All]

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Kelvin Mace Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-03-05 02:54 PM
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Gotta love those lyin' collection agencies
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They are SO misunderstood.


As Debt Collectors Multiply, So Do Consumer Complaints
Washington Post

Embarrassing calls at work. Threats of jail and even violence. Improper withdrawals from bank accounts. An increasing number of consumers are complaining of abusive techniques from some companies that are part of a new breed of debt collectors.

They are debt buyers, outfits that acquire unpaid bills from credit card firms and other credit providers for pennies on the dollar and then try to collect. Some of these companies go after bills so old that consumers can no longer be sued for them in court or punished for them on their credit reports.

Francis Buselli of Amherst, N.H., told the FTC that a debt collector called him repeatedly about a debt the company said his daughter owed -- even though she had moved out 15 years before. On Nov. 26, 2004, the company called about six times in 15 minutes. On the final call, the debt collector recited Buselli's Social Security number, mentioned his wife by name and threatened to send thugs to get him, according to Buselli's FTC complaint.

So, we have bill collectors threatening to beat people up for debts they don't owe.

And what's their excuse? The usual: "Bad apples", "just a small percentage of our transactions break the law", etc.

I love this quote:

Manny Newburger, a Texas attorney who represents many collection firms, estimates that the average collector makes between 40,000 and 50,000 calls a year. Multiply that by the 100,000 collectors that ACA International, the trade association for debt collectors, says are in the business and that comes to 4 billion phone calls a year. By comparison, the 58,687 complaints filed at the FTC are quite small, Newburger said.

OK, let's do the math.

40,000 calls a year works out to 160 calls a DAY. Yes, you do get a lot of "no answers", but if we set the average at seven minutes a call (a number I got from someone in the biz), that over 18 hours a day. They use autodialers a lot, equipment that if a human answers, tells them to "hold for a very important call".

Realistically, they speak to sixty people a day, or 15,000 a year, or 1.5 billion calls a year. Comparing that to the 58,687 complaints is still spurious since many people DON'T complain because they don't know their rights.

These people are parasites.

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  -Gotta love those lyin' collection agencies Kelvin Mace  Aug-03-05 02:54 PM   #0 
  - Just wait til October when people cant file for bankruptcy anymore  Mari333   Aug-03-05 02:56 PM   #1 
  - can people still file for bankruptcy?  Raster   Aug-03-05 02:59 PM   #2 
     - they can still file, but the days of a clean, wiped slate will be over  wicket   Aug-03-05 03:01 PM   #3 
        - Plus it will cost more and you will  Kelvin Mace   Aug-03-05 05:48 PM   #22 
  - when you answer the phone...  ironman202   Aug-03-05 03:02 PM   #4 
  - never talk to them!  blueknight   Aug-03-05 03:07 PM   #7 
     - You can also insit on doing business only with the entity you owe.  blondeatlast   Aug-03-05 05:52 PM   #24 
        - Absolutely  ohio_liberal   Aug-03-05 05:59 PM   #26 
           - I'm always surprised that more people aren't aware of this.  blondeatlast   Aug-03-05 06:49 PM   #28 
  - I missed a payment on a Bank of America credit card  meegbear   Aug-03-05 03:04 PM   #5 
  - I've been called at work as well  ceile   Aug-03-05 03:10 PM   #8 
  - That's bull!  meegbear   Aug-03-05 03:19 PM   #11 
     - They've even called my family  ceile   Aug-03-05 03:22 PM   #14 
        - Shit, that's nothing  ohio_liberal   Aug-03-05 05:56 PM   #25 
  - Bank of America is the worst ever!  lvx35   Aug-03-05 03:20 PM   #12 
  - makes me even happier I shred their applications...  bleedingheart   Aug-03-05 03:34 PM   #19 
  - I've never had a problem with them.  Kraklen   Aug-03-05 06:51 PM   #29 
  - I wonder what's up with this practice?  KansDem   Aug-03-05 03:26 PM   #16 
     - The next time they *check the info*  Carni   Aug-03-05 07:03 PM   #30 
        - LOL! Good idea! (eom)  KansDem   Aug-04-05 12:26 PM   #32 
           - It works great for telemarketers too lol  Carni   Aug-04-05 12:39 PM   #33 
              - LOL! Twice I've been accused of not being the person I really was...  KansDem   Aug-04-05 12:47 PM   #35 
                 - That's good...sounds highly entertaining!  Carni   Aug-05-05 03:33 PM   #38 
  - I know where those calls are going  wryter2000   Aug-03-05 03:06 PM   #6 
  - I have a common name, so I get calls on debts I never created...  Junkdrawer   Aug-03-05 03:11 PM   #9 
  - Now isn't that a job  Kelvin Mace   Aug-03-05 05:50 PM   #23 
  - Actually, looking in the phone book is a tried and true technique  Gormy Cuss   Aug-04-05 12:47 PM   #36 
  - Years ago when we had recently moved  proud2Blib   Aug-03-05 03:16 PM   #10 
  - know your rights!  centristo   Aug-03-05 03:21 PM   #13 
  - I got hounded once at work many many years ago.  Spike from MN   Aug-03-05 03:25 PM   #15 
  - I will NEVER forget and am still pissed over the time  TNOE   Aug-03-05 03:27 PM   #17 
  - I dealt with one once and found out their lies first hand  HEyHEY   Aug-03-05 03:31 PM   #18 
  - A number of years ago  SeattleGirl   Aug-03-05 03:44 PM   #20 
  - Apparently they read, "how to be a loan shark", by john gotti.  Javaman   Aug-03-05 03:56 PM   #21 
  - Actually,  Kelvin Mace   Aug-03-05 06:02 PM   #27 
  - Just before blockbuster did away with late fees  Lannes   Aug-03-05 07:10 PM   #31 
  - LOL!  Bethany Rockafella   Aug-04-05 01:01 PM   #37 
  - Self deleted  KansDem   Aug-04-05 12:42 PM   #34 

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