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Added for You - When Debt Collectors Cross the Line - Bogus Threats & Illegal Collection Tactics
OK, that first assumes you have a real business, one that has lasted at least five years. About ninety percent of the new businesses founded go broke before their fifth anniversary, so I am excluding them here. The companies who make it past their fifth anniversary have more than just potential!They have proven that theirs is a viable business proposition, they had the money to out last the vast majority and they know a lot more than the average about running a business. Now it's time to really go to work - to build on what's working.The number one key for business success in the 21st Century is the same as it was at the beginning of recorded business history, it's just easier to achieve now that information is more abundant than ever and high speed Internet connections make it acc
"If you don't pay this bill today, we're going to have a warrant issued for your arrest." Nonsense. Failure to pay a debt is a civil matter, not a criminal matter. Threatening a debtor with jail time or accusing them of committing a crime is totally against the rules.
"We don't care that you sent a cease com
I want to make this point crystal clear: if you write a Super Bowl ad and it gets produced and shown on the big game down in Florida, your life will be in jeopardy.Why?Because the people in the ad business that live and breathe advertising have desperately wanted to accomplish that their ENTIRE careers. (That's really why they work weekends, spouses!)Writing a Super Bowl ad is their Mount Everest.And if you come in and actually write a Super Bowl ad that we end up seeing, and you're not in the business...well, that's just crazy.But here's why its actually doable:MOST PEOPLE THINK THAT WRITING A SUPER BOWL AD ACTUALLY INVOLVES SOPHISTICATED WRITING SKILLS.Dead wrong.'Writing' a Super Bowl Ad is 95% about dreaming up a great idea and then 5%
Collection professionals would probably respond that the enormous size of the industry and the sheer volume of collection activity accounts for the large number of complaints. However, only a small percentage of violations are actually reported by consumers, so the data collected by the FTC represents only a tiny fraction of the true scope of the problem. Even so, a pattern of abusive and illegal collection activity has been well-documented by the FTC, and it is getting worse instead of better.
Here are some common threats made by debt collectors:
"We're going to take your house unless you pay this bill immediately." This is a bogus threat. Unless the debt being collected is secured by the house in question (i.e., a mortgage or home equity loan), the creditor does not have the power to take your house away from you.
"If you don't pay this bill today, we're going to have a warrant issued for your arrest." Nonsense. Failure to pay a debt is a civil matter, not a criminal matter. Threatening a debtor with jail time or accusing them of committing a crime is totally against the rules.
"We don't care that you sent a cease comm
Credit repair companies approach people offering to repair one’s bad credit standing for a fee. Many people are not aware that one can actually repair his own credit. Thus, unsuspecting clients fall for this and end up spending more than what is necessary.Do It Yourself Credit Repair is actually quite easy to do. One may have to spend time and a bit of money in securing all the necessary documents, but these are all necessary.First, one must contact the three major credit bureaus and request a copy of their credit report. Sometimes, the credit report is given for free, but to be on the safe side, expect to pay a small amount for this document.Go through the report carefully and note which of the listed accounts are closed and which ones are still active. Look for “charge of
Collection professionals would probably respond that the enormous size of the industry and the sheer volume of collection activity accounts for the large number of complaints. However, only a small percentage of violations are actually reported by consumers, so the data collected by the FTC represents only a tiny fraction of the true scope of the problem. Even so, a pattern of abusive and illegal collection activity has been well-documented by the FTC, and it is getting worse instead of better.
Here are some common threats made by debt collectors:
"We're going to take your house unless you pay this bill immediately." This is a bogus threat. Unless the debt being collected is secured by the house in question (i.e., a mortgage or home equity loan), the creditor does not have the power to take your house away from you.
"If you don't pay this bill today, we're going to have a warrant issued for your arrest." Nonsense. Failure to pay a debt is a civil matter, not a criminal matter. Threatening a debtor with jail time or accusing them of committing a crime is totally against the rules.
"We don't care that you sent a cease com
As a website owner it is perfectly natural to expect your website to rank near the top of the search results. After all, with all that fantastic content that you’ve just spent days and weeks fine-tuning, how could it not be immensely popular? And as sure as night follows day, when your site fails to make the first page it’s tempting to blame Google, because, how could your beautiful new website be the problem? So, take a deep breath and read the next line.It’s not Google’s fault, it’s not your website’s fault: it’s your fault.Sorry, but you haven’t finished the job. Your next task is going to be challenging, but in this new world, competition is fierce, and to finish the job you’ll need to pay careful attention to the various ways you can claw your site up the ran
Here are some common threats made by debt collectors:
"We're going to take your house unless you pay this bill immediately." This is a bogus threat. Unless the debt being collected is secured by the house in question (i.e., a mortgage or home equity loan), the creditor does not have the power to take your house away from you.
"If you don't pay this bill today, we're going to have a warrant issued for your arrest." Nonsense. Failure to pay a debt is a civil matter, not a criminal matter. Threatening a debtor with jail time or accusing them of committing a crime is totally against the rules.
"We don't care that you sent a cease com
According to s study conducted by the Ipsos-Reid Corp for Ernst & Young, the average employer spends about $1500 on office supplies due to loss from theft. The same report goes on to state the cost can even triple if upper-level management are the ones responsible for the theft. All in all those pads of papers, post-its©, and pens going home with employees cost the average business at least $19,000 per year.Though theft is hardly ever discussed in the workplace the latest ADP Pre-Employment Screening Report found:* 5% of all employees had a criminal past within the last seven years. With construction jobs seekers averaging a rate of 8% and those in health care related professions having a rate of 3%* More than 35% of all employees showed one or more violations and convicti
Here are some common threats made by debt collectors:
"We're going to take your house unless you pay this bill immediately." This is a bogus threat. Unless the debt being collected is secured by the house in question (i.e., a mortgage or home equity loan), the creditor does not have the power to take your house away from you.
"If you don't pay this bill today, we're going to have a warrant issued for your arrest." Nonsense. Failure to pay a debt is a civil matter, not a criminal matter. Threatening a debtor with jail time or accusing them of committing a crime is totally against the rules.
"We don't care that you sent a cease com
Selling retail products online or offline can be a great business, however, when it comes to finding genuine wholesale supplier lists you have to become aware of the many scammers on the internet waiting for unsuspecting buyers. These wholesale supplier scams promise legitimate wholesale resources but many don't deliver. Here are a few tips to become aware of so that you can be on the lookout for scams.Watch Out for Middlemen When purchasing wholesale items from a legitimate resource, you are dealing directly with the wholesale company. A person or company who comes between you and the wholesale company is referred to as "middlemen." Many middlemen pose as wholesalers, yet charge business owners monthly fees and inflate wholesale prices. You end up paying a higher price
"If you don't pay this bill today, we're going to have a warrant issued for your arrest." Nonsense. Failure to pay a debt is a civil matter, not a criminal matter. Threatening a debtor with jail time or accusing them of committing a crime is totally against the rules.
"We don't care that you sent a cease communication notice. We're going to call you anyway." The FDCPA gives you the right to terminate contact efforts by a debt collector. Failure to respect a cease communication notice is a clear violation of Federal law.
"We're going to garnish your wages to recover this debt." A collector can only threaten action it has the legal authority to take, and the vast majority of collection agencies have zero legal authority. Your wages can only be garnished by a creditor after they have won a judgment against you in a lawsuit.
"We know where you live, so you better pay up." Yes, threats of violence still happen in this industry. Nearly 300 complaints against collectors received by the FTC last year cited the threat of violence as the cause of the complaint. This is absolutely illegal.
Aside from the usual bogus threats, collectors also use other tactics that are illegal. For example, discussing your debt with a third party is a clear violation of the FDCPA. Yet collectors routinely call neighbors, relatives, and employers to obtain information on debtors. So long as the collector does not discuss the actual matter of the debt, they still have their toes on the right side of the line. But as soon as they mention or even hint that they are calling about a debt, they have crossed the line.
Since many debtors have taken to screening their phone calls at home to cut down on the relentless barrage, debt collecto
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