Loanshark & Debt Collector Horror Show Roundup

“I Will Threaten Bodily Harm,” A Loan Shark’s Confession
“I make threats of arrest, property seizure, wage garnishment, and sometimes (usually if it’s a woman) I will threaten bodily harm if there is no payment….”

Debt Collectors Gone Wild
“”Collector: You’re so ignorant. Ignorant. You need to go back to Mexico.
Consumer: OK, ma’am.
Collector: Haha! Watch me big boy. Watch me. “

Debt Collector Verbally Abuses Disabled Elder
“She said I was a mean, old disabled person. I was not a man because I am not paying, she know about my disabilities and said that since my legs don’t work, maybe my ears don’t work also. She then said, I’ll call you in 4 days, good luck with trying to walk and hung up.”

Dealing With Abusive Debt Collectors By Phone
“1) Find a lawyer and fight back. 2) Play dumb on the phone so they think they can abuse you. 3) Take detailed notes and/or record the call. 4) Take them to court.”

Pay Up, Deadbeat
“Learn about how the process works, what they can and can’t do and how to fight back if they overstep and start harassing you.”

Zombie Debt Collectors on Rampage
“Some of them will sucker you in with low monthly payments, even though the statute of limitations has expired. Making these payments only reactivates the debt as current and then they’ve got you by the gills.”

(Illustration: Mark Alan Stamaty)

Comments

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  1. Amiga_500 says:

    The most effective method I have found to get a bill collector to quit calling is a Fog Horn. I sent letters and phone calls confirming that the debt was not mine/valid. When they called and became abusive, I would put in my ear plugs and blast the fog horn into the phone. Problem solved! I never heard back from them.

  2. jamesdenver says:

    If you’re having financial difficulties, the first thing you should do is change your phone number to something non-existent, or a voicemail box. Not your home or cell phone.

    2 – Get a mailbox at Mailboxes etc. I do both of these for all companies except my mortgage and utilities in order to keep a buffer between my personal life (where I live) and the companies I deal with.

  3. holterbarbour says:

    I’m a law student taking bankruptcy class this semester, and predatory lending and illegal collections activities really get my goat.

    Make sure you know your rights under Federal law. All of these stories sound like violations of the FCDCA, and the collectors may be civilly liable for violating the law.

    Have a good look through the FCDCA online, especially the Harassment and Abuse, False or Misleading Representations and Unfair Practices sections.

    http://uscode.law.cornell.edu/uscode/html/uscode15/usc_sup

    You MUST DOCUMENT EVERYTHING! Phone calls (record them if possible, letters, names of those calling (use Caller ID if necessary, they might give false names). Know your rights! They cannot call you during certain hours of the day, and they have to stop calling you if you notify them in writing (1692c(c)).

  4. Vickinlouisville says:

    I was a debt collector for a law firm for 7 very very long months. I was promised all kinds of bonuses and extra money . I hated being a retail debt collector worse than anything in the world. Sounds like you people want to make excuses for debtors. I think everyone should pay their bills. Why get a new number. Do the right thing and pay up. I actually did hate garnishee banks and wages. I felt bad when debtor called in crying that they could not feed their kids. I got so many threats. People were going to come visit me, because I ruined their life and beat the crap out of me. There are two sides to every story and the debtors are not innocent victims. We were told to be respectful to the retail debtors, but the commercial debtors were treated different. I could say anything I wanted to the commercial debtors.

    If a collector does not quote the mini miranda then the debtor has a right to sue. After working in a law firm as a debto collector, it makes me want to go out and buy all kinds of expensive things and then change my number and run from the debt . or just file bankruptcy.. Seems like the American Way..