Learning How to Fight the Collector

[groovedaddy]

Among debt collectors, Steven Katz is known as a “credit terrorist.” For years, he has run what he calls the Steven Katz School of Bill Collector Education, otherwise known as the “credit terrorist training camp.”

Mr. Katz, a 58-year-old accountant in suburban Tucson, spends his free time schooling debtors on the finer points of consumer protection law to help them turn the tables on debt collectors. On occasion, he thumbs his own nose at them too.

“How many times can I sue you? Let me count the ways,” he wrote under his pseudonym, Dr. Tax, in a March posting on Inside ARM, a debt collectors’ Web site.

A former bill collector himself, Mr. Katz rebelled after a debt buyer damaged his credit score with what he says was a bogus bill. Mr. Katz sued, and in 2003 he collected his first damage award, a $1,000 check that he now keeps framed behind his desk.

http://www.nytimes.com/2010/04/24/business/24collection.html?th&emc=th

[Christa]

1. K & Highly rec'd nt

[ixion]

2. if you have to avoid creditors, here are some tips:

- Move often.
- Leave as small a paper trail as possible.
- Pay cash.
- Keep your name off the utilities.

These simple steps can help you evade collectors for years. Guaranteed.

[groovedaddy]

3. Here is a link to a website mentioned in the article - good stuff here.

http://www.debtorboards.com/

[truedelphi]

6. Thank you for the link. n/t

[The Doctor.]

5. That may be more trouble than it's worth.

If your debts are that bad, then just file chapter 7.

There are plenty of very effective skip tracers in the industry. One could go through months of trying to scrub their trail and find their efforts wasted.

[The Doctor.]

4. And DO NOT use credit solutions companies.

Nearly all are basically parasites. They take advantage of people's fear and uncertainty to extract heavy profits. They take your money, earn the interest, and put off settling your debts as long as possible. They do nothing you can't do yourself for half the cost.

There are fairly easy ways to deal with debt collectors.

Best tip; wait till a few days before the end of the month, then, if you have it, offer 10-20% to settle the debt. It's surprising what they might take when trying to get their numbers up at the end of the month.

[groovedaddy]

7. I agree. They present their own "red flags" to creditors too. I used to be a mortgage loan

officer and originator. People do have stuff on their credit reports that doesn't belong there BUT you don't need to pay someone a chunk of money to get rid of it. Even though I wasn't supposed to spend my time doing it, I coached a number of people through the "how to" of cleaning up their credit reports. It's just tedious work but it's not rocket science. Pretty much anyone can do it if they're willing to take the time and make the effort.
The credit repair companies are almost all ripoffs, preying upon people's ignorance and laziness.