Gerald Celente, trend expert, visionary, keynote speaker, is trusted worldwide as the foremost authority on forecasting, analyzing and tracking trends. Celente is publisher of the Trends Journal® and author of Trends 2000 and Trend Tracking (Warner Books).
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When you speak to the Debt Collector on the phone no matter what they say, get it in writing and don't settle until you get the Terms in writing.This some like common sense but the offer might sound so good and the collector will pressure you to agree NOW and send the check or loss the deal!
You will also what to speak to the manager and tell them as part of the terms..the written settlement must state that they are to delete the negative reports from the 3 Credit Agencies... not updated them. Don't accept anything less .it's the law!
Don't settle for a faxed or e-mailed copy of the settlement. Regardless of what they say, it won't hold up in court if you want to sue them for reselling or recycling the debt. Also make sure they say in the letter that they own the debt and no other agency can claim ownership. They are then taking legal responsibility and can face the consequences in court.
I have talked to folks who settled based on a phone conversation with a very nice 3rd Party Collector, send the check and later (when the check cleared) a not so nice collector came after them for the total debt. I wish you the best and we am available to assist you further. [Read More!]
They purchase databases with a set of numbers from the Banks for pennies on the dollar. They hound folks on the phone (hound your friends, neighbors and work place too)causing fear, stress and exposing you to a lawsuit. Good luck! Read... Debt collectors use questionable lists and means ScrippsNews By CHRIS SERRES and GLENN HOWATT, Minneapolis Star Tribune
The page was mostly blank. It contained only a name, three words and a series of tiny numbers. But in Minnesota's creditor-friendly court system, the page became the sole legal evidence that Darren Sabinske had defaulted on a Citibank credit card nearly eight years ago.
Sabinske, a security technician, was ordered to pay $7,595 to Debt Equities LLC, whose business is collecting old debts. Sabinske insists he never owned a Citibank card but was soon to learn the frustration of trying to defend himself against a computer database that listed his name near that of the bank.
"All they had was a row of numbers," he said [Read More!]
Federal lawsuits by debtors against collectors have soared sevenfold over the past decade, in a mirror image of the huge jump in collections judgments that Barry and others accuse debt collectors of churning out mill-style without regard to accuracy. Click Here for the article [Read More!]
Do you hate paying your mortgage? Yeah, I know that Congress gives you a deduction for the interest and all, but don’t you just hate writing a check out for the house that you own?
Well, anytime people hate doing something, odds are that some scam artist will figure out a way not only to make things worse, but also to fatten the scam artist’s wallet in the process. That is how it is with the so-called “Mortgage Elimination” scam that is now going around.
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Troy Scheffler, a 34-year-old from Coon Rapids, used a digital voice recorder to record the bill collectors who were calling him 30 to 40 times a day. Those who said something abusive, he slapped with lawsuits and used the recordings as evidence.
This is the link to the article
Ex-collector, deep in debt, knew how to fight back [Read More!]
For confirmation the economy is rolling over, look no further than the awful jobs report from the government last Friday. The Bureau of Labor Statistics (BLS) reported July payrolls fell 131,000. To add insult to injury, the June jobs number was revised downward. The economy lost 221,000 jobs which is considerably more than the 125,000 the government reported last month.
You are now facing a debt crisis because things in your life have gone badly.
That means that you need to know your consumer rights under the "Fair Debt Collection Practices Act" because you will now be receiving calls from creditors.
Perhaps collection agencies are calling you making demands so that you need to know your rights.
As of 2008 after the changed federal bankruptcy rules effect in October 2005 which made it more difficult to file for bankruptcy, especially the Chapter 7 version that allows credit card debts to be discharged, credit card companies have become more aggressive about debt collection.
