|
Topic: Debt Collection Agency (Post your comment)
Here are the latest comments from our readers about Debt Collection Agency
Read them all and submit your own comments
by Carmen S. on 12/26
If you want to know how to deal with a collection agency then you may want to read this. A collection agency, aside from all the threatening phone calls and letters can't really do much more than that, threaten you. Collection agencies cannot seize your assets Collection Agencies cannot freeze your bank accounts Collection Agencies can only disclose your information to the credit bureau. They can't get you fired from your job Then can't use any type of physical violence to collect. A debt collector is just another employee working on a *very* high level of stress hoping you pay your debt so he can get his commission. That's all!
(Reply)
by Cre on 12/26
Third-party collection agencies work on commission. Collection Agencies receive a percentage of the amount that they collect. Some collection agencies purchase bad debts for a small percentage of the amount owed. Once a collection buys you debt, you the debtor now owes the full amount to the collection agency who purchased your debt. The collection agency makes a profits if they collect more from you the the price they paid for your debt.
(Reply)
by Cre on 12/26
Some creditors will actually use a separate company name, address, and phone number for their internal debt collection. They do that in order to give you the impression that an outside collection agency is after you to collect the debt. If you think a collection agency is on your tail you will take it more seriously. This strategy is generally used when the debt is under six months delinquent
(Reply)
< Previous Topic Next Topic >
View all Topics | View All Messages < Previous Topic | Next Topic >
| 