In the first two articles I defined what a delinquent account that had been sent to collection was, how sending late accounts out to an debt collection company benefits a creditor, and the practice of selling an old debt to a third party collection agency.
I wrote about what type of information a collection agency will collect and use in their efforts, and also that third party collection agencies are governed by federal and state laws and are overseen by the FTC.
A minority of collection companies will utilize deceptive, strong arm and illegal methods to confuse and scare debtors that include pretending that they are one of their creditors and asking them to verify information, pretending to be an old friend or neighbor to catch a debtor off guard, repetitively calling or mailing a debtor to the point where it gets to be a nuisance, or sending threatening letters or leaving threatening voicemail messages.
Legal but manipulative practices include pressing the debtor, preying on their emotions, and using vague threats like “respond within ten days or further collections attempts will follow.” Other illegal practices include making an idle threat of litigation or pursuing litigation when the debt collector has no intention to, threatening to throw a debtor in jail, threatening to garnish wages or seize bank accounts when they have no authority to, lying about the amount that is owed, or asking for more than what is owed are used as well.
For the bill collection industry, time is the enemy and an excellent collection agent is fully aware of this fact. Their goal is specifically to obtain money as soon as possible.If you are talking to a debt collector, keep in mind that at any time you have the legal right to tell them you are busy and will call them back if you are flustered, hang up, cool off, develop a game plan, and contact them later. An aggressive debt collector will ask you why you can’t make payment arrangements today.
Rapid Recovery Solution is a commercial collection agency that writes articles on medical collection agencies. Also published at Legal And Illegal Tactics A Debt Collector Will Use To Collect: Debt Collection Basics Part Three.
Related posts:
- Tactics A Debt Collector Uses And What To Do After You Have Paid: Debt Collection Basics Part Four
- Debt Collection For Beginners: Rules And Regulations
- Collection Agency Basics Part Five: Getting Proof Of Payment And Avoiding Future Phone Calls
- How to Collect a Debt Making use of an International Debt Collection Agency
- What Is A Collections Account? Collection Agency Basics Part One
- Role of Third-Party Collection Agencies
- Collection Agency Basics Part Six: Advice For Debtors
- How The Fair Debt Collection Practices Act Impacts Your Business
- Debt Collection – Positive And Negative Practices
- Procedures That Has Been Followed By Debt Collection NJ
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