Junk Debt Buyers - The Modern Day Strong Arm Tactics - Don't Let Them Abuse You
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They buy you for pennies and try to sell you for dollars
The business practice of Junk Debt Buyers is to buy worthless debts and use extortion techniques to extract payment from unwary consumers. They buy portfolios of debt for pennies on the dollar and attempt to have you pay the full amount.
This is a very profitable business for the Junk Debt Buyer and they use every possible means to collect the dollars that they paid pennies for.
Testomony from House Committee on Financial Services
They are investigating Asset Acceptance
Credit Bureaus Under Fire! Part 6
Junk Debt Buyers, they're talkin' about you at the House Committee on Financial Services. Asset Acceptance I hear some of your Assets are Unacceptable! Straighten up!
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Dont Let Junk Debt Buyers and Collection Agencies Take Advatage of You
Collection Agency Harassment: What the Debt Collector Doesn't Want You to Know
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Common Tactics Used By Junk Debt Buyers
- Abusive Phone Collections
- Being harassed by a collection agency is never fun and how you deal with that harassment may mean the difference in sanity and protection of your rights offered by laws that govern collection agencies.
- Credit Report Poisoning
- Credit Report poisoning is a common tactic that junk debt buyers use to coerce payment from unwary consumers.
Please Let Me Know if You find this Helpful
also give me some stars on the top right please
I would love to hear from people on both sides of a Junk Debt Buyers Abuse. If you are a consumer dealing with them or if you are one speak up
hutch wrote
in reply to bryan c.
Hey bryan c. i have an idea. Go fuck yourself you dickless shit head. Rock on bitch!!!!!!!11
Posted June 04, 2009
JR wrote
To Just Settled]:
Received an offer (in writing) from LVNV Funding for less than amt. owed for a student
loan, and was wondering if the reduced payment would indeed clear my debt in FULL!
Was wondering, since you setttled with them, did you get proof of debt clearance and
had it taken off your credit report as paid???
Please reply. Thank you.
Posted April 12, 2009
Non yours wrote
in reply to bryan c.
Well Bryan, as the others said, go f#@$* your self, most people would be glad to pay the acutal debtor they owe the money to, but once you A** Holes get involved, well what can I say, the interest in paying is gone, because most people will not pay money to people they don't owe it to, if you bouught the debt you did that at your own risk, so so sorry, I will advice any one that has a credit collector calling them, change your number, never admit to a debt, and if these A holes mail you something mail them a request for proof, via certified letter lets see if they can come up with hard evidence.
Posted March 10, 2009
Just Settled wrote
No one plans to stiff a creditor -- it happens through many circumstances. I never planned to default, but it happened. Along the way, I learned a lot! Most of the debt collection attorneys out there are not licensed to practice in your state. So the "lawyer letters" they send are useless in terms of them actually suing you. They have to assign their interest or hire an attorney in your state.
I have found that if you can offer a settlement *before* the debt charges off (not always possible, I know) then you usually can deal with nice people. Several of the people in credit card settlement departments actually were very nice and understanding. My average settlement was about 35 percent. Some lower (Discover at 10 percent!) and some a bit higher. Settlements can be done quite easily, and without paying the scumbags who advertise on radio, TV and Internet.
Finally, I just settled with LVNV/Resurgent for 32 cents on the dollar. NEVER take the first offer! And get it in writing.
Posted January 13, 2009
buslady wrote
I just recently went to a court hearing where a debt collector was suing me for almost $1800. I did my research and wrote the appropriate letters, etc. I showed up on the date for court 15 min early for the hearing. 30 minutes later, NO ONE showed up! Case dismissed. LOL
Posted October 08, 2008
Angelica wrote
I am writing a piece for Dig This Reel Magazine exposing predators in the financial insdustry.
I was assigned this piece as I myself have first hand experience with predators as an ID theft survivor .
Looking for people who would like to share their story. Email angelicawytch@comcast.net direct to me or through the editor to be forwarded to me at editor@digthisreel.com.
Please be sure to include your email address for follow up clarification/questions.
Posted September 08, 2008
Rich M wrote
To Bryan C. I'm going to kick a JDB ass in court here in a few months, WITHOUT the help of an attorney. You a**holes CAN be beat. PEOPLE, just do your research and you'll find that these Vultures can have their wings clipped. BTW, if I met one of you in public I'd be glad to pay you what you deserve,....an ass kicking!
Posted August 29, 2008
Anon Now wrote
Well, Mr. Bryan C., How about regulating the interest these lenders charge to a REASONABLE amount and prevent them from targeting people who, in many cases, they know will default. In addition, is it possible, in your world, for someone to suffer a financial or medical setback. You must be very careful in your judgment of others lest you find yourself on the same path.
Posted August 26, 2008
Leslie wrote
Junk debt buyers are con-artists who have no legal right to access peoples' credit reports, or request payment for debts that don't belong to them. They are CRIMINALS!!!!
Posted July 18, 2008
not Bryan C. wrote
Hey, I have a great idea, Bryan C.
--Go F**K yourself.
Some of these debts, like the one lvnv is trying to collect from me ISN'T me! So, think before you reply, a**hole.
Posted May 17, 2008
Lonnie wrote
To bryan c.,
Spoken like a true debt collector. Why is it that debt buyers think debtors, who fall on hard times, are "low life's" (that's how they treat us), yet, they can violate the law left right and center to try and collect a debt that they can't even prove you owe. They use false (illegal) means to sue, for debts they've REFUSED to validate (cause they can't) and then have the GALL to say WE'RE NOT VICTIMS?! These people are immoral and Godless!!!
Posted May 14, 2008
StoptheAbuse wrote...
Jeanne,
It sounds like you can get this thrown out. If they have materially represented their claim they are perpetrating a fraud on the court. I would go see your local legal aid office or contact a NACA attorney. You may have counter claims against them.
-----To Brian C. Below ------
Many times people wind up in collections for different reasons. You would find out that over 95% of people that do have every intention of doing the right thing when the debt was occurred and for whatever reason had to reprioritize their income.
Methinks you are a troll that is in the collection industry who would be unemployed if everyone did as you said.
Posted February 28, 2008
StoptheAbuse wrote...
Added Back for Jeanne
Hi
I received a summons - court date is March 28th. The affidavit seemed off. I checked up on notary public and said person isn't licensed in state from which it was issued. I am getting a written verification from Secretary of Commonwealth. Can the suit be dismissed now? There are other issues with this supposed proof of debt. The affiant's name is illegible and not typed in underneath as is usually done. It actually looks like the notary signed it as well. Anyway also the legal firm suing has as plaintiff the original creditor but I know this credit card company no longer has my account - I called them. On all previous correspondence received from this firm it is stated that they are debt collectors. I called the TN department of commerce and they verified that said legal firm is not licensed in this state. I just want at this point to get the case dismissed. Then I can start dealing from an advantage. Would a NACA attorney be a good contact to help? Thanks Jea
Posted February 28, 2008
Jeanne wrote
Hi again
Just wanted to make sure you don't use my last name.
Jeanne
Posted February 27, 2008
bryan c. wrote
i have a novel solution. how about paying the debt you like you agreed to in the first place. then there wont be a need for debt buyers. people who dont pay their bills are not victims
Posted February 19, 2008
Some Well Know Junk Debt Buyers
* *Sherman Acquisitions/Sherman Financial Group/Alegis NCO Group
* *Portfolio Recovery Assoc
* *Asta Funding
* *Encore Capital Group (parent of Midland Credit Mgmt)
* Allied National/Interstate Risk Management Alternatives (RMA)
* JBC & Associates
* Arrow Financial Services (majority interest acquired by Sallie Mae 9/04)
* RJM Acquisitions
* *CAMCO (Capital Acquisitions & Managment Company)
* Excalibur
* Cavalry Portfolio Services
* Unifund Group
* Phoenix Asset Acceptance
* First Select Corporation (part of Providian)
* Collins Financial Services
* Oliphant Financial Corp.
* OSI Portfolio Services
* Midland Credit Management
* LVNV Funding
by StoptheAbuse
Abuse is Rampant by serveral different types of organizations
While I am NOT an Attorney everything you find by me will be based on experience or fact....
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