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Debt Collection

“The Collector’s Pledge” Marks a Positive Turn in the Debt Collection Industry

Martin Sher of AmSher Receivables Management in Birmingham, Alabama has recently made a huge step in the debt collection industry with “The Collector’s Pledge”. Sher, with over 30 years experience in the credit and collection industry was named as the president of ACA International (the Association of Credit and Collection Professionals) for 2010-2011. Sher co-owns AmSher Receivables with his brother, ... Read More »

    Mickey Rourke Opens Up About His Job as a Mob Debt Collector

    Ready to Collapse

    Another episode of before they were stars. Read More »

      Lawyers Profit Off Debt Collectors

      Ready to Collapse

      Interesting article from News Chief in Winter Haven, Florida. Attorney Pete Barry points expectantly at the video screen, drawing the attention of 16 attorneys in a hotel conference room who have come to learn his trade secrets. On the screen, a debt collector with spiky hair is squirming, his eyes darting back and forth as Barry barrages him with questions. ... Read More »

        In China, Credit Card Debt Enslaves. Anyone Surprised?

        It isn’t a big shock to find out that the credit craze and panic is exploding around the world. The credit craze and panic works like this: Stage One: Craze – apply and get approved for credit and go crazy racking up the balance. Stage Two: Panic – after you’ve expended your credit resources you panic as you try to ... Read More »

          The Debt Collection Industry From The Eyes of Former Debt Collectors

          Ready to Collapse

          CNNMoney.com released a fascinating showcase of the life behind closed doors of debt collectors. They took ten different collectors ranging in 2 – 20 years of service in the field of debt collecting and asked their insight and thoughts on the debt collection industry and process of today. The interviews were very nicely balanced between collectors that either enjoyed their ... Read More »

            FTC Hopes to Eradicate Broken Debt Collection Litigation and Arbitration

            A report released by the Federal Trade Commission Monday featured the FTC’s complaints about debt collection in our country today. The report featured the conclusion that “consumers are not adequately protected in either debt collection litigation or arbitration.” The FTC put forth recommendations to both the federal and state governments on how to make the debt collecting system “both efficient ... Read More »

              Courts Slammed With Automated Debt-Collection Lawsuits

              Collection Software

              It is not unusual for me to hear from people in the debt relief world, “Oh the creditor won’t want to sue the consumer, it costs the creditor money.” I chuckle inside when I hear that. It’s so not true. While that might be logical, logic and creditors have never walked hand-in-hand. Out of New York comes a story about ... Read More »

                Caught In The Web : Debt Collectors Find Fleeting Debtors Via Social Networking Websites

                I feel the personal need to thank a one, Vanessa Romo, a reporter at NPR for her most recent and compelling article “Elusive Debtors Foiled By Their Social Media Sites“. This article delved into a world I had never considered existed. No not Pandora, but a realm of debt collectors using social media and networking sits to collect debts owed. ... Read More »

                  Abusive Debt Collector Accused of Bankruptcy Fraud : When The Collector Becomes the Collected

                  Over the years Jack H. Boyajian, a seasoned debt collector, has faced accusations from authorities across the U.S. for “illegal methods to squeeze debtors”. This year a new accusation arose against Boyajian after he filed for bankruptcy in August of 2009, that he has defrauded creditors by concealing assets from the court. The Federal Government says he owes around $670,000 ... Read More »

                    Victory and Disappointment for the Debt World Today: Total Debt Falls While Harassment Complaints Rise

                    CNN Money’s recent article, “Debt collectors get nasty” showed some real insight into the current debt collection process in this country. They touched on information reported by the Federal Trade Commission, FTC, about the number of complaints of debt collector harassment issues on the rise. Apparently these debt collectors haven’t heard of a little thing called the “Fair Debt Collection ... Read More »

                      Debt Collector Shot Dead While Riding Scooter in Front of School

                      Debt Collector Shot

                      In Malaysia a debt collector was shot dead while riding his scooter. What caught my eye on this story was the lead was the dude shot was a debt collector, as if that automatically is an explanation why. “Omar said they believed the shooting could be due to revenge. Police are also looking into the possibility that the assailant was ... Read More »

                        Debt Collector Says “Kiss Daddy Good-Bye, He’s Going to Be Arrested.”

                        A debt collector calls a Florida debtor and talks to his 10 year old daughter. The debt collector allegedly tells the daughter that her father is going to be arrested for his debt. The news story about this is below. [flashvideo file=/wp-content/uploads/Debt-Collector-Vid.flv /] Read More »

                          Phantom Debts Come Back to Life. It’s Alive!

                          Ready to Collapse

                          The problem of zombie debts, that’s debts that come back to life, is well known. What is becoming more of a problem is what happens when an old debt has been sold, sold, and sold again. The current debt buyer can’t really prove they own the debt at all. In fact just recently we published an article about this problem. ... Read More »

                            Most Debt Buyer Lawsuits Foiled By Inability To Prove Debt Owed

                            Debt Buyer Palintiffs Failed to Substantiate That a Debt is Owed

                            The Municipal Employees Legal Services of New York’s District Council 37 has seen an increasingly startling number of cases cross their desk over the past few years involving cases pertaining to debt buying lawsuits against consumers. Given that these sort of cases have doubled over the past 10 years, they took a special interest into the matter and conducted a ... Read More »

                              Ignoring Debt Until Police Show Up. Is Jail in Your Future?

                              Jail

                              When I first started working in the financial world of helping people with their debts I was told that doing nothing with the debts was an option, not a viable one, but an option nonetheless. A recent article from the StarTribune in Minneapolis, Minnesota showcased what happens to people in Hennepin County, Minnesota who take that very route, ignoring debt. ... Read More »

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