There are only two ways creditors can get paid on delinquent loans to distressed borrowers: Harass them into voluntarily paying or sue them and perform judgment enforcement.
The first option is much less expensive for creditors. All they have to do is pay workers wages near the minimum wage levels, invest in some computers and telephones and put your telephone numbers and account information into the collection software. The computers dial you automatically and bring up your account information for the operator/collector to use if they find a live person on the other end of the line. It is a vast cubicle farm of debt collectors wearing telephone headsets and trained to get you to part with whatever cash they can.
Suing you and enforcing the judgment is expensive relative to harassing you. There are filing fees and lots and lots of forms to fill out and third parties to deal with such as the courts and the sheriff’s or marshal’s offices. After all that effort they may or may not recover their investment in all this, let alone collecting on the debt.
That’s why most creditors will opt to harass you. They have effective systems for doing that. These squeaky wheels do get oil, lots of it, until you take stock of your situation realistically and decide to do something about it.
If you cannot repay your debts then don’t let creditors harass you. Under the Federal Fair Debt Collection Practices Act (FDCPA) even before you file it is unlawful for the creditors to contact you again after you’ve informed them that a lawyer represents you and you give all the necessary contact information.
The creditors then call us and they don’t harass us. They know we have the upper hand now and while they will make offers to settle now for steep, steep discounts, it is usually too late.
Life is too short and you don’t need the stress of dealing with the army of debt collectors. It is our business to handle this legion of collectors for you, and we do it with efficiency and no emotions.
Call today to let us help you recover your peace of mind.
