Archive for January, 2010

No Holds Barred Debt Collecting

Tuesday, January 5th, 2010

stockxpertcom_id282440_jpg_526b2b3dcb8ec5b88e23580afc17bcb9Remember that kid in elementary school who was about 2 times bigger than every other 8 year old in the school? He’s the one that put you in the trash can and took your lunch money in return for not giving you a black eye. Yeah… that guy! Well, “that guy” is now the debt collectors in America, specifically, Buffalo, NY.
Buffalo, NY is America’s debt collection capital, and they are ruthless when it comes to calling debtors and making claims when trying to get payments. However, collection companies from all over America are excessively growing. If you owe a debt, make sure you know what to say to these debt collectors when they call you and make outrageous claims. These collection companies are telling consumers that they are lawyers, they will foreclose the debtors’ homes, they will take away their children, and seize their bank accounts. Take away your kids??? REALLY?!? NO! Outrageous statements like this are causing an escalating increase in complaints annually. So what do you do when these guys call you?
If these collection companies call you, do not settle with them. Never settle with any 3rd party collector, but instead, if you want to settle your debt, settle it with the original account holder. Let’s say you let a credit card with Chase Bank go to collections. Chase Bank is going to sell that account to a collection agency, and the collection agency is going to call you up to 15 times a day threatening you until you pay that debt to them. Don’t do it! If you decide you want to pay off that debt or settle it, contact Chase Bank and make the deals with them. So many things can go wrong with that unethical 3rd party collection company. You could make a payment to them, and they might end up never reporting it paid off, so you just lost a wad of cash because of unethical practices and no proof.
If these collection companies call you, tell them to put everything that they have to say in writing and mail it to you. This way, you will have documented proof of what they say and what you say. They might say “no”, and threaten you with ridiculous threats. If this happens, there is good news. You can send out a “cease and desist” letter, which will force them to stop calling you, put everything in writing, and mail it to you.
Good luck!

Author: Kyle Gilbert your resource for free credit report offers and the most current information regarding credit news. We also provide free tips and techniques to repair your credit for free. “Remember your credit report and credit score is more important than ever now.”