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Collection Agencies Are Turning To Social Networking Sites Too!

Filed in archive Debt Collection , Debt Collection Agencies , Hunting Debtors on July 25, 2010

Collection Agencies Are Turning To Social Networking Sites Too!
© Todd Barnard
Imagine this: you have debts and you have not paid it yet. Maybe you have managed to ignore the Debt Collectors' letters in the mail and have successfully evaded their phone calls.

You think they can't find you?? They will. Eventually! And when you least expect it...

How?

One keyword is Facebook. If you are in the above-mentioned situation, you have to be careful in what you post on your Facebook profile and in other social networking sites. Why? Because Debt Collection Agencies are now turning to social networking sites to hunt down the debtors and look for more information about them!

According to Marc Davenport- president of RMI Consulting - a Houston commercial debt collection firm: "It is an important tool. We do it because information is power."

Here's one example:

Davenport recalled a businessman who failed to pay a $17,500 debt. The man claimed his business was in the tank and he was filing for bankruptcy. But pictures he posted on Facebook said otherwise. He showed off his new Corvette and a picture of himself on a boat fishing off Florida's coast, images that didn't add up to him being broke, Davenport said.

"He was boasting and bragging about it to all his friends," Davenport said. "When we told him the information we had, I thought he would drop dead of a heart attack."
Busted, the man paid his bill in full.

See?? You can run...but you can never hide. Certainly not on the internet!

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Debt Collectors Become More Aggressive

Filed in archive Debt Collection , Debt Collection Law on July 15, 2010

Debt Collectors Become More Aggressive
© danesparza
Beware! Debt collectors are becoming more aggressive these days. There have been recent reports from many consumers that they have experienced getting unpleasant behavior from debt collectors including harassing phone calls, abusive language and physical violence to force people to pay up.

Complaints about unruly attitudes from debt collection agents grew by as much as 50% in 2009 based on a report from the Federal Trade Commission. And for the first six months of 2010, complaints about harassment from debt collection agencies has shot up by as much as 13% already.

The most common complaint is repeated calls over a period of days, weeks, months or even years. Many of them also use obscene or abusive language. Some even go so far as to call other people related to the person they are trying to collect money from, like an estranged relative, an ex-lover or a former spouse.

All of these are illegal under the FTC's Fair Debt Collection Practices Act, which has been around since 1977. Consumers who are victimized by a collection agency can go to either state or federal courts to report the harassment. If the case turns in favor of the consumer, the harassing collector may be required to pay for damages, lost income, and medical bills.

And even if monetary damages are not assessed by the courts, collectors may still be ordered to pay up to $1,000 and reimburse the complainants for court and attorney's fees.

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Great Deals On Moneysavingguide.com

Filed in archive Information About , Tips & Tricks on June 1, 2010

Great deals on moneysavingguide.com
© Tony Crider
For many people, the only thing saving them from phone calls from the debt collector is the fact that their phone has been cut off due to non-payment. It just isn't easy making ends meet these days no matter how hard you work. If you are seriously in debt to the point that the stress is making you sick, stop worrying and seek help.

There are many government programs that can help you with your debt problems. The debt counselors can work on your behalf to secure affordable debt payments. Don't try and work your way through the struggle by yourself when there is help there for you.

Of course, there are some things you can do for yourself. If you haven't yet done a budget, start putting down everything you spend for a month. Every cent, even if it is just dropping change in a charity box, record how much you are giving. Once you know what you are spending you will know where you can cut back.

Also go online and look for money saving tips. Look for sites like moneysavingguide.com. Start cutting coupons from the newspaper. And look for special offers at the stores. Start managing your debt now to keep the debt collector away.

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