New Debt Collection Practices: The Good, the Bad, and the Opinions Forbes
When Tennessee Representative Steve Cohen sat down with some other governmental friends and came up with some proposed consumer-friendly changes to the Fair Debt Collections Practices Act (FDCPA — the main legislative document that proscribes the way debt collectors can interact with consumers), I’m sure he thought it was a great idea. And for a politician looking to make some political hay during economic lean times, there’s nothing better than alleging to protect consumers from the collections industry.
It’s a tough time to be a regular Joe with too much credit card debt and too much month at the end of your money. That house that seemed like a great idea in 2007 has now fallen so low in value that it’s part of a buy-one-get-one free program at most participating 7-11s. (This might just apply only to my own house.) Everyone is now playing Six Degrees of Out-of-Work Kevin Bacon (what’s the last thing you’ve seen him in? And how many of your friends or acquaintances are now currently out of a job? You win!), what with unemployment on a steady increase. Basically, everyone owes and no one has money, and the collections industry — never a darling — is often on the wrong end of news stories.
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Is it the debt collectors job to make the call to get their debt off your credit?
Some say it takes 90 days or 30 days for them to call... Is it their job to call or yours?
I paid the debts! So who calls the credit people to take the paid debts off of my credit? Make sense now?
Depending on how often the collection company reports, it can take anywhere from 30-90 days to show as paid with a $0 balance.
If your talking about the debt actually being removed from your credit, that won't happen unless you have a written "Pay for delete" agreement before you pay them.
The longest it can legally show is 7-years from the date of first delinquency which works out to 7-years and 180-days per the Fair Credit Reporting Act.
Additional details:
Jessica your question made sense the first time, like I said unless you have a written "Pay for delete" agreement in advance of paying the debt remains on your credit the only thing that changes is it shows as paid with a $0 balance.
and harass you
thats it
Can a Debt Collector share experiences about debtor from his old job online?
Query can you share crazy stories when you were a debt collector online. Not giving any names or anything just experiences?
Of course you can as long as you change names and the "setting" of the story.
Never reveal addresses and names and in some instances also change age and sex... and the story is yours to tell.
To be on the save side... don't get too detailed and maybe some of the details need to be changed so that it sounds familiar but isn't quite the same as it actually happened.
I would "love" to hear some interesting stories... maybe you could inspire me to finally write that book about my "job" experiences of the last 10 years....
(How would you like to be woken up in the middle of the night because the Circus lost an Elephant on your lot and your graveyard clerk wants to know how to get rid of the "present" the elephant left behind pump 2?)
I have an interview to be a Customer account co ordinator ( Debt Collector)?
Hi , I'm a full time uni student studying Accounting and i've applied for over 100 jobs and i've only landed 2 interviews 1 a few months ago ( no luck) and another next week for a debt collector job .
First the good news , it pays well with bonuses , apparently it has state of the art facilities etc oh and also its very close to where i live and fits perfectly to my timetable.
Now the iffy part , DEBT COLLECTION . Its pretty much a step underneath telemarketing in my opinion but hopefully someone can tell me differently ? Can someone give me more info on this and the good ( if any ) and the bad.
The reason why im considering even trying to get this job because i need office experience and its difficult to get data entry experience as most of them req office experience so yeah please help :)
Thanks
Actually, Debt collectors can be very helpful people. My ex ran up a credit card of mine during the divorce and they came after me. I didn't even know that card was still good. They were very nice and supportive. They knocked the interest down to zero for me and set up easy monthly payments. Then they presented it to the ex and got her to pay the debt instead of coming after me.
So when you go in for that interview, tell the guy that you are all about helping people and how you think that by being patient and helpful, you can get people to pay their outstanding debt.
Debt Collector?
A friend has been offered a job as a Debt Collector for Egg. Does anybody know anything about the company, or about the job of Debt Collecting?
im a debt collector and depending on the company and how they want you to collect really determines how the job is...my company is ok...we try to work with people over demanding people ya know...it's hard to get used to and learn all the ins and outs....it's always worth a try though...tell your friend to try it and give it a few weeks then decide...
A balif in the uk would try to take peoples cars and tv to pay the debt.
where in London can i get a job as a debt collector? beating.intimidating people up for debts etc?
im 22 in and have been unemployed since i was 15 and need to make some cash. im currently taking lessons in english in mats hoping to get into college in september
I suggest you also take lessons on what the role of a debt collector is as it may have something to do with why you have been unemployed since 15 and why would you want a job which you stupidly think is about beating up and intimidating people? do yourself a favour and not only take English and what ever "mats" is but the full works i.e EDUCATION you may just then be prepared to undertake employment cause at the moment you appear confused.
How would a debt collector get money from you if you had no job or possessions?
I always hear about people's wages being garnished, all this horrible stuff. What if you were like, a beach bum or something? Could they make you work somewhere? LOL
You can't get blood from a turnip.
They can get a court to issue a judgment against you. That means the court acknowledges that you legally owe the money. Collecting is a separate issue. If there is nothing to collect, all the judgments in the world are not worth the paper they are printed on.
I may start a job as a debt collector any advice?
'Neither a lender, nor a borrower be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry...'
Tips for becoming a better debt collector?
I just started my new job as a debt collector, Are there any debt collectors in here? Do you guys have any tips on how I can become a better debt collector? As for yourself personally, which debt collector can make you pay a specific bill, the "mean, bitchy one," who threathens you this and that OR the "Customer-service" type one who wants to keep your business? It's so hard to find debt collector in any job website so I cannot get any tips on how to better myself. (boohoo)
I also work in collection...I never start a conversation hateful or threatening...I'd rather my debtor set a pay arrangement they can afford to keep.....but at the same time...the ones that lie & I have to track down...I sue if i have a reason to...if they still won't pay...I either garnishee their wages if they work...or but a suggestee order on their bank account if i can get that information...But I always start a conversation out nice.....I am as nice to them as they are to me ..... and personally I'd be more likely to pay a bill from someone that is nice than someone that starts out hateful
Debt collector resorted to now faxing to my job.?
A creditor just faxed over legal proceeding information and included all information regardng my debt to my work in in which other staff members retrieved it in another department and then faxed it over to me. Is this legal. What can I do. This is harrassment on the job.
Furthermore, they had the nerve to post my social security number on the fax.
This is clearly in violation of the Fair Debt Collection Practices Act, which is enforced by the Federal Trade Commission.
Any correspondence to a debtor relative to unpaid debts is to remain confidential, with only a few exceptions.
Please refer to Sec. 804-805 of the Fair Debt Collection Practices Act.
where can i find a job for a debt collector?
Try your local newspaper job ads, or like the weekly job papers for example Job News magazine, or the Employment Guide, they are the free ones that you can get on your way out the grocery store.
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