It seems the Collection Industry itself is finally admitting that there are accounts it is cheaper to forget about than pursue. http://accounting.smartpros.com/x42057.xml Please re-read my "Understanding the Collection Agency, parts 1 and 2" - it's all there, and lots more
small-balance debtors. Others might not call on small-balance debtors at all. 1*Most collection agencies are guilty of limiting pursuit to dunning notices and/or phone contact. 2*From an economic standpoint, accounts less than $500 are never profitable to litigate and usually cost more than they are worth to pursue by other means. 3*Today's debtor is simply too clever, well-educated, and astute to be intimidated by frivolous threats of litigation. 4*Many debtors have had experience with collection agencies or attorneys.( They know all the tricks.) 5*It is very common for collectors to engage in psychological warfare with debtors, threatening all kinds of horrible legal consequences, challenging the debtors on every front. This usually ends with the debtors hanging up their phones and terminating all communication. 6*The situation becomes even worse when collectors attempt to reestablish communication because the debtors are now in control. 7*One negotiating tool available to collectors is to point out the ramifications of nonpayment in terms of adverse credit reports. 8*Suggest (do not threaten) that the debtors' valuable credit might be affected if negative credit information is reported to the national debtor database. 9*Change debtors' "base of thinking," taking them on a journey into the future -- to a time when they will be denied credit or will be otherwise inconvenienced because they neglected these small obligations. [color=royal blue]<<<<<<<<<====================>>>>>>>>>>[/color] 1*Is there any way you have to pay if this is all they are going to do? 2*So why worry about these debts if your are less? 3*Translation Not a sucker who will fall for the CAs con job. 4*(I E They know the law and their rights and refuse to let CAs scam them.) 5* 6*Which is where you the customer should be in the first place 7*After we trash it with bogus claims we can't prove. 8*We know it's gonna be- that's why we report it. 9*Right con them and twist their minds onto paying alleged obligations that we can't prove. XXXXXXXXXXXXxxxxxxxxxxxxxxxxXXXXXXXXXXXXXX <>><><><><><><><><><>< DON'T LET CAs BEAT YOU OUT OF YOUR HARD EARNED MONEY WITH THEIR EFFORTS TO COLLECT ILLEGAL DEBTS. If their claims weren't bogus they wouldn't have to do all the conning described above to collect, just present the proof collect the money AND move on.
Prime example: NCO allegedly has 2 cingular accts on me. One is $2200 (with all their added fees and interest) the other $235. Disputed both as not mine. The smaller one disappeared off TU. I followed NanaC's link on the other website. Believe it or not, I cannot find that NCO is licensed in FL! WoooHooo! I am definitely going after these jerks.... They called me @ work and when she asked When are you going to pay this. I simply told her not to call me at this number again, that I would send her an C&D.... She cuts me off and states "we only accept checks and credit cards..." Wake up woman! I am disputing this debt! She asks "what is a C&D" I tell her. She then threatens to take legal action... Go ahead! I am in FL - single mom of 5 AKA HEAD OF HOUSEHOLD so my pay is 100% exempt. My home is my homestead and also exempt. You cannot get anything from me. Now I find that they aren't even licensed. Geez what a bunch of idiots!
Re: Re: Must Read for all C-Netters I other words, Sherman probably wont give up on a 2500 Sears debt very easily. Oh well, I dont give up very easily either. Seems like it would cost about that much for them to sue tho...
