The Tales of a Debt Collector

Jay Maxwell By Jay Maxwell, 8th Feb 2013 | Follow this author | RSS Feed
Posted in Wikinut>Money>Debt

“The only man who sticks closer to you in adversity than a friend is a creditor.” - Unknown

What Debt Collectors Don't Want You to Know

Blake Ellis elegantly accentuates some of the atrocities of the debt collecting industry. With reasonable effort, one can detail swarms of stories that would send chills down your spine. The weapon of choice appears to be intimidation, such as threats to exhume dead relatives and promises to kill one pets. There are efforts being made to clean up this industry. For example, the U.S. Federal Trade Commission are on record for closing down some debt collectors for harassment and other abusive tactics. Does this mean that all debt collectors are crooks? No, the vast majority of operators subscribe to ethical practices, but are tainted by the actions of a few. Under the law, governing these entities they can not intimidate by threatening violence, using profane language, making relentless phone calls, exaggerating the amount of the debt, and impersonating attorneys. Moreover, they are prohibited from informing consumers that they are subject to an arrest or garnishment proceedings. Furthermore, they can not imply that your property will be confiscated unless they anticipate taking action, and have the legal grounds to do so. Of course, many of the states have adopted their own policies to combat such egregious behavior.

Notorious Cases of Debt Collectors

Now, we will take a cursory view of some of the most notorious cases to date. In the case of Goldman Schwartz, it is alleged that collectors called consumers to frequently and intimated that they had the authority to take them to jail. On another occasion, they barked - that they would send the sheriff's department to their jobs and resolve the issue the hard way. Keep in mind, they had no legal authority to back up any of these threats. Supposedly, Goldman Schwartz had another weapon in their arsenal and that was posing as a law firm. As the story is reported, they were allegedly working in conjunction with law enforcement officials and documented attorney's fees implying such. This tactic is not isolated to this particular firm; however, it is a tactic that is gaining popularity. It something seems to be out of character when dealing with these people - follow your instincts. Consider the fact, they we are living in an economy of shrinking budgets and the police can not devote resources to such trivial pursuits.


Debt Collectors, Debt Crisis, Debt Problems

Meet the author

author avatar Jay Maxwell

I am endeavoring to become a freelance article writer for now. Recent studies include a freelance writer's article and blog course offered by Growth Education.

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author avatar Rose*
23rd Nov 2013 (#)

Debt collectors like to frighten people. Do your research and know your rights

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