To Make Bill
Collectors Stop Calling You
Must Understand Who’s Calling
You
The Questioned was asked, “Can I make bill collectors stop
calling for good? The answer lies in understanding who’s
actually making the calls in the debt collection GAME! Once you
understand this, you’ll be able to stop the calls and dunning
letters and even align yourself to sue bill collectors and win
when they don’t play by the rules…
Who Can Make Bill Collectors Stop Calling? You
Can!
To make bill collectors stop calling, you must
have access to and understand some crucial information. You
must understand who’s actually calling you. You must understand
their primary tools and the nature of debt collection and you
must know and understand your legal rights.
If you fail to grasp just one vital piece of this information,
you WILL NOT make bill collectors stop calling! As a matter if
fact, they may succeed at driving you CRAZY! They will add your
name to the list of consumers they cause to: lose sleep, become
a nervous wreck, become filled with anxiety and fearful of
doing something as simple as answering the phone or the
door.
Let’s examine some facts about bill collectors and debt
collection agencies.
What is a Debt Collection Agency?
The
first key to make bill collectors stop calling is being clear
on what a debt collection agency is. A debt collection agency
is a THIRD PARTY company separate and distinct from the
original creditor. They come into play when the original
creditor has deemed the account as uncollectable and it is
charged off. This is where the THIRD PARTY debt collectors come
in. They work debts on behalf of the original creditor.
Make Bill Collectors Stop Calling CONSUMER
ALERT: Almost all debt collections agencies will
inform debtors that they now OWN the debt and you MUST deal
with them as if they were the original creditor. In actuality,
per the Fair Debt Collection Practices Acts, they are still a
THIRD PARTY. Never allow any debt collector to browbeat you
into believing anything contrary to that fact.
How Do Debt Collection Agencies Get
Business?
The charged off account is turned over to
them a number of ways, normally on consignment. If the debt
collector collects, they pay a percentage of their collections
to the original creditor and they keep the balance. Other
agencies outright purchase large groups of these charged off
debts for a small percentage of the "face value" which is the
amount owed.
Depending on the type and age of the debt, they normally buy
debts for around one to five percent. In other words, if the
original amount owed is $10,000.00, they may buy the debt for a
mere $100.00 and whatever they collect over and above $100.00
they keep. But again, this money usually isn’t paid until the
agency actually collects.
Now I Know Who's Calling Me!
To make bill collectors stop calling its time to grasp who’s
actually calling you. Almost all debt collector jobs require
nothing more than a high school diploma, a good sounding voice
and an aggressive personality. These employers can’t demand
anything more because of the meager pay.
Bill Collectors Make How Much an Hour?
The average salary, which is usually a performance based salary
plus commission, hovers around $9.50 to $11.50 per hour. If a
bill collector can’t meet their quotas, they are subject to
making no more than minimum wage, getting fired or quitting.
How hard could it be to make bill collectors stop calling
knowing this? A
Talk About a High Turn Over Job...
As you probably guessed, the turnover for debt collectors is
always high due to the low pay and stress that inherently comes
with the job. To be clear, the debt collectors who make the
calls are low paid employees with limited educational
backgrounds in highly stressed environments. I don’t say that
in a demeaning manner; I say it to help you grasp who’s on the
other end of the phone.
Over the phone these bill collectors usually sound like some
big shot executive earning a 100k plus annual salary. But now
you know the truth! When a consumer takes the time to learn the
Fair Debt Collection Practices Act (FDCPA) and the Fair Credit
Reporting Act (FCRA) and their State Laws regarding debt
collection, I promise you with absolute certainty that they
know more than ninety eight percent of all of the debt
collectors making the debt collection calls.
Joel Marks has been helping people get out
of debt and avoid both bankruptcy and foreclosure for over
fifteen years. Utilizing savvy debt counseling, debt management
programs, Federal laws and a team of attorneys, debt counselors
and advisors, he has quietly assisted thousands come from under
the heavy burden debt.
Source: http://debterasure.com/
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