Having never worked in a debt collection agency, it’s sometimes hard to imagine what really goes on. In fact, for many it’s a surprise that you are just a number on a wall board (although you sometimes feel more like a criminal). The collector has a daily quota. Most collection agencies have the big white [...]
Most people realize that at some point – and it could be years and months – they will be contacted about a debt that has gone unpaid. This debt moves from the original source (e.g., retailer, credit card company, etc.) to a collection agency and then could bounce from one collection agency to another throughout [...]
Debt Consolidation is something that many people have had to consider recently , especially in this current economy. People have lost their jobs or are working for lower wages, so many aren’t able to make ends meet or pay their bills. It’s not that people don’t want to pay their bills, it’s that they simply [...]
Sometimes, despite your best efforts to keep your financial obligations organized, there are things that simply fall through the cracks. Perhaps you have a payment owed to the doctor’s office that wasn’t covered by your insurance or a bill that you never received that went unpaid. In some cases, you may have actually paid the [...]
Anyone who is currently or in the past dealt with debilitating debt knows the anger, frustration and sometimes fear that accompanies debt collection practices. It has often been said that debt collectors are people just like you or I, trying to do their job. Sadly there are times when these individuals or agencies for which [...]
When a debt collector calls, the conversation can often be so disturbing that you can end up agreeing to something that you may later regret. Even debt collectors must abide by certain rules when trying to collect a debt. The Federal Trade Commission (FTC) outlines the Fair Debt Collection Practices Act (FDCPA) that governs debt [...]
When dealing with collection agencies there are important tips to keep in mind. It’s important to know if the debt is actually yours and know if it’s a first-party or third-party collection. With first-party collections, a collection agency is hired by the lender. In the case of third-party collections, a lender writes off your debt [...]
You are late with your bills, trying desperately to devise a plan to pay off the debts that you owe and then the phone calls start. It might be one or two a day at first but eventually you find that the debt collection calls are becoming more insistent and when you answer, you find [...]
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