Bill collectors participate in contests to collect money from you – the consumer!

07 Feb Bill collectors participate in contests to collect money from you – the consumer!

For the last several weeks LTD Financial Services and United Recovery Systems have been running ads in the Houston Chronicle for Collectors. While this is no big surprise what with the economy like it is, itis surprising to see them admit to someof the benefits they offer: “great bonus program, plus full benefits”, “above industry standard commission rates”, and contests. Contests is the one that bugs me. The bill collectors have a contest to see who can be the meanest? Or, how many people can they make cry? Or, how manypeople they can get to go borrow the money to pay them? Or, the list could go on.

So the next time a bill collector calls you and is pushy, you might want to ask him or her to describe the contest that they are participating in, or how much commission is she or he going to make if you make a payment. Let the collector know that you know they are going to receive an incentive by bullying you into a payment.

Or, you could talk to a bankruptcy attorney to see if bankruptcy is an option for you. Bankruptcy will stop the debt collector calls.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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