Hello everyone, I want to keep this short..... Like many of your I've gotten a lot of calls from Collection Agenies claiming to be lawyers and take me to court to sue me for outstanding balances on some credit cards. I called their bluff and waited for court papers and of course nothing happened (except for a local bank and I paid them). Now I see why they don't really sue.... As a landlord I have to collect money from unpaid tenants.. The fact is it is very hard to collect money from people even with a judgement (if you can get one). In my state you have to: - Make sure they are personally served with papers or you can't get paid - Next, you have to know where they are working - Next, if you can find that you can garnish their wages. - If you can garnish their wages you can get up to 25% for 3 months.... Can you imaging trying to do this for pepole who live across the country? Let alone sending people to local courts for these lawsuits.. It's a lot of effort with little to gain. So for the average person out there who is behind on bills what's the reality of you (a creditor) getting much of anything for your troubles.... not much.. Truthfully creditors use the FICO score to determine with great accuracy the number of people who can't/won't pay. They factor this into their APR for everyone... Just thought I'd pass this along to anyone getting those "threatening calls"
