Credit Card Debt Collection

Re:Credit Card Debt Collection by rcxdude on Wednesday September 13, 2023 @06:06AM (#37494681)

This is because debt collection is a terrible deal: debt like this sells for a very steep discount, because debt collectors generally have a low rate of success of collecting. They essentially rely on apathy, ignorance, or compliance from the debtor, and if there's any resistance put up they essentially just write it off as it's no longer worth the effort (especially because debt collectors often don't have any actual evidence of a debt owed: they get a spreadsheet with names, addresses, and amount owed, and that's it. Something like that doesn't tend to stand up in court). So you probably gave them a better deal then the debt collectors.

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Re:Credit Card Debt Collection by fullspectrumdev on Wednesday September 13, 2023 @06:24AM (#37494820)

Yeah, I’ve had a few things go to collections agency in Europe, most of them small debts from FedEx paying customs charges for a package delivered to me and never telling me they did, sending it right to collections agency.

I have a policy of simply ignoring these.

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Re:Credit Card Debt Collection by mrguyorama on Wednesday September 13, 2023 @12:06PM (#37498572)

> if there's any resistance put up they essentially just write it off as it's no longer worth the effort

That's rarely the case. Debt collection agencies will absolutely hound you and your relatives, damn the laws, to try and milk value from you, for quite some time. They will then go to conferences and brag about how they have tricked people into claiming debts, the ways they have harassed people, and other atrocious things.

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Re:Credit Card Debt Collection by rcxdude on Wednesday September 13, 2023 @02:02PM (#37499632)

I mean resistance in the sense of actually knowing your rights and pursuing them with the legal system

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Re:Credit Card Debt Collection by incahoots on Thursday September 14, 2023 @11:47AM (#37510536)

This, once you start parroting your rights as a consumer, they’re quick to back off.

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Re:Credit Card Debt Collection by incahoots on Thursday September 14, 2023 @11:45AM (#37510523)

Fwiw, a friend works at a collection agency (that’s an entire different story), and it’s exactly as you say. Extremely rare that a company that sells their debt to the collection company will provide them any additional information regarding the debt.

My friend has told me that on occasion the debt collection company will reach out to the original owners of the debt and request additional information, but seldom get a response.

Anyone reading this, it is absolutely in your best interest to fight any debt, no matter if you believe you owe it or not. Nothing changes if you fight it and they have sufficient proof. Best case scenario is they wipe it from your credit report.

If you’ve already began making payments then you’re SOL, as making payments is considered ownership of the debt in question.

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Re:Credit Card Debt Collection by strix_varius on Friday September 15, 2023 @01:30AM (#37518845)

I would find it hard to be friends with someone who did this.

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