Collectors -- scum of the earth or performing a valuable job

[CMike11]

What do you think of collectors, i.e. repo guys, foreclosure people, bil collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?

[StockMarket77]

I applaud these people because they are collecting money from people who made the mistake of living beyond their means. If you ask me, their punishments should be made even more extreme. We need to set examples in this country through private sector events - NOT public (government sector). We need to show liberal-minded people how an economically-efficient society functions.

[The Girl from Ipanema]

I don't know why they should be considered vermin. It's not their fault that people don't pay for the stuff they want.

[StockMarket77]

I don't know why they should be considered vermin. It's not their fault that people don't pay for the stuff they want.


Well-said.

[CMike11]

Some years ago we had two goons banging on our door about 10 pm. They had black vests that said "agent" on it.

They were yelling my wife's name, disturbing the neighbors as well.

I answered the door, and the guy claimed he was there to repo a car. We didn't own or have the car that he was looking for.

My wife and I both had an extremely rough day. We both took Tylenol PMs and were very out of it. I regret not meeting him at the door with my shotgun. I didn't figure out what was going on. The "agent" vests through me off.

It turns out my wife was behind im a revolving line of credit and the bank wanted to send people to see if we are still at the same address. The repo people mixed it up.

I do consider the tactics to be a scum/slimeball thing to do. I feel sorry for the person who really had the car to be repoed.

[SFC(R)L]

There is blame on both sides.

However, there are federal laws that apply to fair credit collection practices, and pounding on someone's door at 10PM, posing illegally as an "AGENT" of some sort, is not one of them.

Additionally, there are rules as to when they can and cannot call, and what they can and cannot say.

The problem is that many of these collectors ignore these procedures and harass debtors, in an attempt to collect the debt. That's the problem. They are scum. Others who act professionally, are doing their job.

Know your rights.

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf

806. Harassment or abuse

A debt collector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of a debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:
(1) The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person.
(2) The use of obscene or profane language or language the natural consequence of which is to abuse the hearer or reader.
(3) The publication of a list of consumers who allegedly refuse to pay debts, except to a consumer reporting agency or to persons meeting the requirements of section 603(f) or 604(3)1 of this Act.
(4) The advertisement for sale of any debt to coerce payment of the debt.
(5) Causing a telephone to ring or engaging any person in telephone conversation repeatedly or continuously with intent to annoy, abuse, or harass any person at the called number.
(6) Except as provided in section 804, the placement of telephone calls without meaningful disclosure of the caller’s identity.
1. Section 604(3) has been renumbered as Section 604(a)(3).
15 USC 1692d

§ 807 15 USC 1692e
§ 807. False or misleading representations
A debt collector may not use any false, deceptive, or misleading representation or means in connection with the collection of any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:
(1) The false representation or implication that the debt collector is vouched for, bonded by, or affiliated with the United States or any State, including the use of any badge, uniform, or facsimile thereof.

[Ex_Spy_Guy]

the government should collect. Oh, and the government should pay your bills....oh and the government should approve all purchases...oh, and the government should give us cheese.

[CMike11]

I agree with you SFC.

"Agent" can mean anything.

You can be an "agent" of the bank, a real estate agent, etc. They do it because they know it was intimidating.

What I should have done is call the police right away, but I didn't know what was going on and I was unclear due to the tylenol PMs.

[SFC(R)L]

I agree with you SFC.

"Agent" can mean anything.

You can be an "agent" of the bank, a real estate agent, etc. They do it because they know it was intimidating.

What I should have done is call the police right away, but I didn't know what was going on and I was unclear due to the tylenol PMs.

A vest with "AGENT" on it infers a federal agent to me, and the time of night in Texas qualifies for "mischief at night", and lethal force first is authorized.

Then we can call the police and find out who everybody is and what their business is on my property is at 10PM.

[CMike11]

I should have

1) Had my shotgun in my right hand behind me

2) Had my wife call the police.

The reason I didn't was because I was confused. I didn't know what was going on. I had a really rough day and I was in bed drozy.

[SFC(R)L]

I should have

1) Had my shotgun in my right hand behind me

2) Had my wife call the police.

The reason I didn't was because I was confused. I didn't know what was going on. I had a really rough day and I was in bed drozy.

Well, lesson learned.

[sgtmac_46]

What do you think of collectors, i.e. repo guys, foreclosure people, bil collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?

Someone has to do it, I suppose.

[sgtmac_46]

I applaud these people because they are collecting money from people who made the mistake of living beyond their means. If you ask me, their punishments should be made even more extreme. We need to set examples in this country through private sector events - NOT public (government sector). We need to show liberal-minded people how an economically-efficient society functions.

Agreed......so long as the price for making a mistake on the other end is equally severe. ;)

[sgtmac_46]

I have some respect for Repo guys, guys that physically show up to take property. It takes guts to go some places these guys go.

The guys who make phone calls from anonymous call centers thousands of miles away, and use bully strong arm tactics to attempt to collect debts that sometimes aren't even owed, however, are bottom feeders.

[Broseph]

What do you think of collectors, i.e. repo guys, foreclosure people, bil collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?

Scum.

The only service they provide benefits themselves or government, nobody else.

[CMike11]

Why government?

They often represent banks.

[CMike11]

I think the problem is that they get paid only based on successes, so they will do or say anything to succeed. I am sure there are some good ones, but I think there are a lot of scumbags.

[RickRhetoric]

Bill collectors are the scourge America! They shouldn't be allowed to exist.

It's the birthright of every American who is a Democrat, to own a nice home (or two); a couple of new cars; and a full complement of electronics whether they can afford it or not.

The "rich" people of America should pay for their stuff. Oh wait! They are.

[LouC]

What do you think of collectors, i.e. repo guys, foreclosure people, bill collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?

As long as they obey all State and Federal laws applicable to their activities I have no problem with them trying to collect from the actual debtor.

I have had negative run ins with bill collectors on 3 different occasions.

[Jíbaro]

What do you think of collectors, i.e. repo guys, foreclosure people, bil collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?

http://upload.wikimedia.org/wikipedia/commons/thumb/3/3c/Eel-tail_catfish.jpg/240px-Eel-tail_catfish.jpg

[curtis123]

What do you think of collectors, i.e. repo guys, foreclosure people, bil collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?



There's consequences for living outside of your means. These people are as necessary as the credit companies themselves.

[Haplo]

I applaud these people because they are collecting money from people who made the mistake of living beyond their means. If you ask me, their punishments should be made even more extreme. We need to set examples in this country through private sector events - NOT public (government sector). We need to show liberal-minded people how an economically-efficient society functions.Means have a way of changing as I know first hand.

I purchased a new car in 2003 and had no problems making my payments an keeping up with full insurance. A few years later that changed due to my expenses skyrocketing and I ended up having the car repossessed as I could barely feed my new family much less pay for the car.

How much more extreme should my punishment have been? My credit is still in shambles due to this period of time and my using credit cards to try to desperately stay afloat long enough to find work.

I really want to know what you think is appropriate punishment for someone in my situation? Jail time perhaps? Indentured servitude to the bank president that financed the car? A finger cut off as a sign to others?

[LouC]

Means have a way of changing as I know first hand.

I purchased a new car in 2003 and had no problems making my payments an keeping up with full insurance. A few years later that changed due to my expenses skyrocketing and I ended up having the car repossessed as I could barely feed my new family much less pay for the car.

How much more extreme should my punishment have been? My credit is still in shambles due to this period of time and my using credit cards to try to desperately stay afloat long enough to find work.

I really want to know what you think is appropriate punishment for someone in my situation? Jail time perhaps? Indentured servitude to the bank president that financed the car? A finger cut off as a sign to others?

Repossession isn't punishment, it just feels that way.

Why do you want to punish the company that loaned you the money to buy the car in good faith in the first place by not paying the loan and keeping the car?

Trust me the company would much rather have you pay the loan you agreed to pay and them not have to repossess the car then have to pay someone to do that job then have to pay to have it made ready for resale.

[Haplo]

Repossession isn't punishment, it just feels that way.I agree and didn't mean to make it sound that way

Why do you want to punish the company that loaned you the money to buy the car in good faith in the first place by not paying the loan and keeping the car?I don't and never said I did. I didn't try to fight the system and never dodged their calls or hide the car. After missing two payments in a row after struggling for a few months to make the minimum payment and sometimes having to send in less then the minimum I ASKED about my options and was told I could surrender the car and avoid having it officially be a repossession. They would sell it at auction and send me a bill for the ballance due on the loan. I'm still making payments on that ballance

Trust me the company would much rather have you pay the loan you agreed to pay and them not have to repossess the car then have to pay someone to do that job then have to pay to have it made ready for resale.Duh! The issue is should I be penalized in some way by the government for this. Maybe a nice scarlet D for debtor on my clothing. Or better yet debtor's prison so as to send a message to other 'ner-do-wells'

[Haplo]

And you know what? If it had it all to do over again the only thing I'd do differently is get a different car. I got a small SUV (chevy tracker) cause I thought I'd be hauling heavier things for my job more often then it turned out I did and didn't want to be bending over a lot trying to get them in to the back.

I lost a car and my credit rating but gained a wife (technically a girlfriend as we're not legally married...yet. I'm a guy in case you're wondering) and two step daughters who I couldn't love more if they were my own flesh and blood.

Verrrry easy choice

[CMike11]

Means have a way of changing as I know first hand.

I purchased a new car in 2003 and had no problems making my payments an keeping up with full insurance. A few years later that changed due to my expenses skyrocketing and I ended up having the car repossessed as I could barely feed my new family much less pay for the car.

How much more extreme should my punishment have been? My credit is still in shambles due to this period of time and my using credit cards to try to desperately stay afloat long enough to find work.

I really want to know what you think is appropriate punishment for someone in my situation? Jail time perhaps? Indentured servitude to the bank president that financed the car? A finger cut off as a sign to others?

+1

I had a car repossessed.

The bank was schmucks.

I made a payment the month before, I told them when I will make the next payment and how much. The rep never told me I was in danger of having my car repossessed. It was repossessed anyway.

****ers.

I got my car back.

I was really struggelling at that time. I was struggelling for many years.

However, thank G-D about six months ago my small business went ballistic, and I am doing extremely well. Of course it can turn around, and I take nothing for granted.

It's really easy to get on your high horse when you were never in this situation. Picture losing your job, because of the bad economy you can't get any other job. No unemployment benefits You have no family that will help you. How long do you think until you get into financial trouble?

Think it isn't possible? It is. So before you look down on people due to financial issues, remember that you can be in the same position.

[signcut]

What do you think of collectors, i.e. repo guys, foreclosure people, bil collectors?

On one hand they are providing a service on the other hand they can be considered vermin by many people.

What's your opinion?

Meh.

It's a job that's neither good nor bad, intrinsically. For whatever reason, the borrower is apparently not paying the balance of the loan, and the lender is taking legal steps to recover the loss.

There are a lot of people that can't stand cops either...

[tislaw]

Just people doing their job, too.

[wayoverthehill]

+1

I had a car repossessed.

The bank was schmucks.

I made a payment the month before, I told them when I will make the next payment and how much. The rep never told me I was in danger of having my car repossessed. It was repossessed anyway.

****ers.

I got my car back.

I was really struggelling at that time. I was struggelling for many years.

However, thank G-D about six months ago my small business went ballistic, and I am doing extremely well. Of course it can turn around, and I take nothing for granted.

It's really easy to get on your high horse when you were never in this situation. Picture losing your job, because of the bad economy you can't get any other job. No unemployment benefits You have no family that will help you. How long do you think until you get into financial trouble?

Think it isn't possible? It is. So before you look down on people due to financial issues, remember that you can be in the same position.As a business owner, what would you do if you had customers who had received services and failed to pay for them? You try to collect from them and get nowhere. Eventually you either have to take a write-off or hire a collection agency to recover what you are owed. So as a business owner, how do YOU feel about the people you hire to collect the debt owed to you?

It works both ways, right?

I'm sure there are collectors who employ less than lawful tactics to collect the debt but there are also a lot of people who owe money who are very skillful at getting out of paying.

Again, it works both ways.

[MrShotShot]

For everyone who bashes these guys, what if you owned a business and folks owed you money? Would you just sit there and do nothing? Probably not.

I realize there are some extreme exceptions and there are laws in place to stop harassment by bill collectors to counter these, but if folks do fall behind on their bills, simply call the bank/store/etc. and discuss it with them. It's the folks who ignore the problem that have the problems.

As for vehicle repo - I'm 100% for it. If someone can't make the note on their car, there's a pretty darn good chance that they aren't paying their insurance premiums either and frankly, I don't want that person on the road with me.

[DRS]

There's consequences for living outside of your means. These people are as necessary as the credit companies themselves.

What about those irresponsible in their lending practices?

[gdoane]

What about those irresponsible in their lending practices?

They get applauded by ACORN for helping get the poor and minority into houses. :rolleyes:

Responsible lending is politically incorrect. If you're a lender and you refuse to loan money to a poor minority, then you're not applauded for responsible lending. You're prosecuted for discrimination instead.

The last loan I took out (I hate borrowing money and never would for a depreciating asset if not for a darned good reason) was with Ford Motor Credit for a $16,000 truck that I put $8,000 down on. I would have paid cash outright for it but the financing deal knocked a thousand bucks off the sticker price and I just had to make 2 payments of $3,000 apiece and one final payment to get the deal.

It was then that I got offered "gap insurance", which I'd never heard of before. I pretty much buy all my vehicles cash on the barrelhead and don't worry about car payments so the concept of being "upside down" in a loan was new to me. Apparently vehicles depreciate so fast that the value of the vehicle rapidly goes beneath the remainder of the loan.

I thought that was pretty irresponsible lending because if the collateral (the vehicle) isn't going to be worth the balance of the loan at some point, then why would you make the loan in the first place?

I declined the "gap insurance". The truck was only going to be collateral for three months and never for less than half it was worth. I think that bumped my interest rate up a notch but big deal.

Obviously, the answer is to sell cars. If they didn't then they'd only be able to sell cars to people who can afford a large enough down payment to avoid the problem and they need to do more volume than that, but it's still predictable that some of those loans are going to go bad.

[DRS]

When I bought my car the insurance I got from my insurance company was for the original replacement value

As for depreciation, I do not worry about it, my car serves a purpose it is not a long term investment towards retirement

Now if ther are cases where people are being turned down for a loan based on nothing more than factors such as race then yes it should be a discrimination case

If I walk into a bank and have the same paper profile as a person of colour and one of us does not get a loan with the exact same credit history then there is a problem somewhere

I have had a banker tell me that they can have a lot to do with a person getting a loan or not by how they put things when passing along the appilication to those who approve the loans

[RogerDodger]

I have never understood why when people decide not to pay the debts they legally owe, it is the bill collector who becomes the villain.