Bill Collectors Friends and Family Plan

When it comes to collections, bill collectors believe in equal opportunity harassment. If you stop answering your phones, they don’t care. They’ll just start harassing your family and friends; but it doesn’t stop there. Next, they’ll start calling your job and speaking to coworkers until they’ve embarrassed you just enough to convince you to call them back.

They usually gather this information from loan applications where you’ve listed friends and family members as references. Fortunately for me, all my friends have their own credit and debt issues so I never have to worry about them being harassed by debt collectors looking for me because they don’t answer their phones either. It just works out.

I know it may seem like all my friends are credit deadbeats but they’re really not. They just ran across a few bumps in the road of life just like the rest of us. They’re working very hard to improve their credit and financial status... and that’s all any of us can do. Just take it one step at a time.

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Payday Loan Collection Letter

CASE FILE: X-XXXX
LOAN INFORMATION               
DUE AMOUNT- $952.53
LOAN COMPANY- XXXX

This is to inform you that you are going to be legally prosecuted in the Court House within a couple of days. Your SSN is put on hold by the US Federal Government, so before the case is filed we would like to notify you about this matter.

It seems apparent that you have chosen to ignore all our efforts to contact you in order to resolve your debt with Payday Services. At this point you have made your intentions clear and have left us no choice but to protect our interest in this matter.

UNITED LEGAL INVESTIGATION BUREAU HAS STATED 4 SERIOUS ALLEGATIONS AGAINST YOU AND THEY ARE:

(1) VIOLATION OF FEDERAL BANKING REGULATION
(2) COLLATERAL CHECK FRAUD
(3) THEFT BY DECEPTION
(4) ELECTRONIC FUND TRANSFER FRAUD.

Now this means a few things for you. If you are under any state probation or payroll we need you to inform your manager/Concerned HR department about what you have done in the past and what would be the consequences once the case has been downloaded and executed in your name.

If we do not hear from you within 48 hours of the date on this letter, we will be compelled to seek legal representation from our company attorney. We reserve the right to commence litigation for intent to commit wire fraud under the pretense of refusing to repay a debt committed to, by use of the internet. In addition we reserve the right to seek recovery for the balance due, as well as legal fees and any court cost incurred.

WE CARRY ALL THE RIGHTS RESERVED TO INFORM THE FBI, FTC, YOUR EMPLOYER AND BANK ABOUT FRAUD. 

And once you are found guilty into the court house, then you have to bear the entire cost for this law suit which totals to $4362.26, excluding loan amount, attorney's fee & the interest charges. You have the right to hire an attorney. If you don't have / can't afford one, then the court will appoint one for you.

We believe that this was not your intent and that these steps are unnecessary. We merely require you to contact us through Email between 9:30 am to 6:30 pm (EST).

IF YOU WANT TO RESOLVE THIS MATTER, THEN IMMEDIATELY CONTACT US THROUGH EMAIL BETWEEN WORKING HOURS.

UNITED STATES DISTRICT ATTORNEY

-- 

Regards

Sr. Investigation Officer (Department-Law and Enforcement), XXX Incorporation

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Bill Collectors Hate Me says: This collection letter is so ridiculous that it’s funny. Never mind the fact that it was delivered by email, this letter breaks just about every debt collection law known to mankind. I published this letter because I wanted to expose the type of nonsense that some collection agencies use in an attempt to scare people into paying back a debt. I would strongly advise anyone who receives such a letter to promptly toss it in the trash. I am seriously considering suing this company for the maximum amount allowed by law which is $1000 per violation.

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Collections Most Wanted

Picture this: A group of collection agents sitting in a boardroom dressed in business casual attire staring up at the collections manager standing next to a huge whiteboard. With dry erase marker in hand, he goes over a list of “Collections Most Wanted”. It’s like "draft day" for bill collectors.

Every collection agency in America has a list of “Untouchables”. The most difficult debtors in the world to contact, let alone convince them to pay!

These are not your ordinary debtors. They are professionals. They are self-taught from years of experience in the art of Debt Dodging: (A form of collection counter intelligence).

Everything a collection agent throws at them, they have an answer for. Ordinary collection tactics have no effect on them because they are immune to fear and intimidation.

Threats of lawsuits are mostly ignored. They’ve seen it all. Most have been sued at least once, so another summons means nothing to them. They’ve trained their whole lives for this.

Robo callers, auto dialers, different numbers… you name it, they have a counter attack already in place. They’ve spent most their lives learning how to stay “off the grid” and not be seen.

They are “Collections Most Wanted”. Ghosts, if you will. Are you on their list?

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Pay For Delete (PFD) - Simple Debt Negotiation

The “Pay for Delete” (PFD) is not the only way to negotiate debt, but it should be. The PFD is a letter that is drawn up by the debtor to initiate settlement negotiation on a past due debt. The key phrase here is “drawn up by the debtor.”

The reason why this phrase is so critical is because as a debtor, your #1 goal is to be the negotiator of your own terms. The PFD letter allows you to negotiate repayment of your debt on your terms, and not the bill collectors.

It is important to remember that you have what they want, and that’s money. That’s what it all comes down to. Debt collectors just want to be paid, and it is up to you to convince them that your offer of payment is better than no payment at all.

In creating the PFD letter, the goal is to offer to settle your debt on a lesser amount than the collection letters demand for payment. In exchange for your payment, the collection agent will agree in writing to remove all derogatory reporting of the debt from the 3 major credit bureaus.

Some collection agents will tell you that they cannot do this or that it is against company policy. They are lying. They can negotiate any debt that they choose to, they just want to keep the odds in their favor because they get paid on commission. They more they collect from the debtor, the more money they make.

How much should you offer?

Collection agents usually purchase old debts for pennies on the dollar, so any payment made is a major bonanza for them. Often times at over 1000% profit. Keeping this in mind, I suggest offering no more than 33% of the debt since most of it is overinflated interest and late penalties and is far more than your original debt. The maximum I would offer to pay is 50% on debts over $1000.

In the case of small debts around $100 or so, it is okay to offer to pay the entire balance in full, but ONLY in exchange for them agreeing to remove the negative reporting from your credit report. DO NOT send payment until you have received this agreement in writing!


When sending payment, be sure to send it via cashier’s check or money order. Never pay with a personal check or credit card as they can use this information to withdraw more money from your account than what was agreed upon. It is much better to be safe than sorry!

Rather than post a sample PFD letter here on my blog, I’ve decided to make one available to you by request. Simply leave your request along with your email address in the comments section of this post and I will send you an exact copy of a PFD letter that I have used in the past to successfully negotiate an outstanding debt.

Lastly, and this is very important… always send your PFD letters from the post office via certified mail, return receipt requested. This typically costs just over $6 per letter. By doing this, you will have verification of delivery as well as confirmation of who signed for it.

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Cast Your Vote In Our Poll

I created this blog almost a year ago and I couldn’t be happier with the direction that it is currently moving in. It was derived out of a love for writing, combined with a personal knowledge of credit and finance.

Everything that I blog about comes from personal experience and is taken right off the top of my head with next to zero research needed because the experiences that I write about are all my own.

I work very hard to bring my readers topics that anyone in financial crisis might find useful. I encourage comments and feedback on all that I blog, but to date, the comments have been very few with the exception of just a few posts.

In an attempt to gain more feedback and a greater feel for what my readers think of my blog as a whole, I have added a poll as the latest upgrade to the site to help gauge the temperature of my readers and to assist me in the overall direction of my blog.

Comments are great and will always be welcome but your participation in the current as well as future polls would go a long way towards helping me bring you the most useful and up to date information going forward.

Whether you’re a returning visitor or brand new to my blog, please take a moment to read a few posts and leave me your honest feedback. Blog ratings are based on a scale of 1 to 5 stars, with 5 being the best and 1 being the worst.

Thank you in advance for your time and participation!

** Catch a sneak peek of my newest blog here! 

Top 10 Most Viewed

In case you haven’t noticed, I’ve recently added a “Top 10” list to my blog as I was curious to find out if the list was random or if it was a true metric of how many times each post was actually viewed.

Initially, I was skeptical as to how accurate the list would be until I checked my internal blog settings and verified that the list did in fact show the “most viewed” posts from day one of the blogs inception.

To my surprise, some of my better articles did not make the list but from watching it carefully over the last couple of days, I did notice that the #10 item on the list was recently replaced by another post, which means that post positions are being calculated and updated on an continuous basis.

Further examination of my blog stats indicate that the top 10 posts are getting way more views than they normally would if not for appearing on the list. Typically, they’d be hidden in the blog’s archives until stumbled upon or discovered during a random search.

I also noted that the #1 post has about 600 more views than the post currently residing in the #2 position, which is the largest gap by comparison to the remaining 8 posts on the list.

This metric tells me that it will take an awful lot of work to bump the #1 article completely off the list, so stay tuned and check back often... I’ve got some serious work ahead of me!

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Secured Credit Cards

We’ve all been there. Good intentions + bad circumstances = bad credit! The next thing you know, you find yourself in need of credit but no one is willing to grant you any. It is quite the conundrum.

How do you combat this? With secured credit cards, that’s how. Yes, no matter how bad your credit rating is today, chances are, you will qualify for a secured credit card.

A secured credit card is funded and secured by your own money. You are required to deposit money into a savings account that is held as security to back up any purchases you make to minimize a financial institutions losses in the event that you default on your obligation to pay back the debt.

Several banks and financial institutions offer secured credit cards with varying terms and interest rates. In the future I will profile some of the best secured credit cards available.

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