Cyrus
Northridge,#2Consumer Suggestion
Sun, April 04, 2004
Hello Friends: Wasn't E.T.'s story just having a perfect ending. Turning the debt collector on the side of his ear. Can you imagine someone calling you and demanding immediate payment for $2,000? Ridiculous!!! A little consumer education for my friends. Creditors, debt collectord, and credit bureaus all comprise to make up the credit industry. A multibillion dollar industry in the U.S.A. They work together to devise schemes to extract as much money as possible out of the average consumer. Before a debt collector or collection agency can demand payment from a debtor, it must validate its debt. This requirement for debt validation is established under provisions of federal legislation known as the federal Fair Debt Collections Practices Act (FDCPA). I encourage everyone to do their own research and learn about the FDCPA on the internet, books, or academic courses. The website of the Federal Trade Commission is the best place to start your education. The FTC has publications that explain the FDCPA and your consumer rights. E.T. was very savvy. She learned everything she needed to pull the pants off the imposter. The financial predator (collector) was caught with his pants down. Was not able to victimize this customer. But, the sad truth is that these abusive collection calls are made millions of time everyday where they will highjack you phone lines, interupt a family dinner, and use all manner of psychological tactics to get you to acquiece to make a payment. Debt collectors are predators--point blank. As a credit consultant, I am never grown accustomed to the boldness, brashness, and callousness of the persons behind the collection lines. They are so willing to oppress and abuse for their own personal gain. No ethics, morals, values, or recognition of right vs. wrong. Getting paid at any cost is the objective. You never owe the debt collector any recognition or obligation of any kind. Hang up if you don't want to talk. Consumers can empower themselves by learning about the laws. Next, if the circumstances deem it appropriate, a consumer can file a complaint with any number of local, state, and federal regulatory agencies. File complaints with: U.S. Senator from your home State U.S. Senator from the business' State Office of the Attorney General Better Business Bureau City of County Department of Consumer Affairs/Fraud Unit Addresses and contact information on these agencies and individuals are readily available on the internet. Consumers have rights, but often do not receive the proper level of recognition because they are not informed, not proactive, and tend to let things slide. If you want to stop the abuses by the credit industry, and by large corporations, you have to fight back and make the best uses of the resources available to you. Do not support or subsidize businesses that do not value your dollars and that engage in unfair, deceptive, and abusive practices. File your complaints. Be sure to follow up. Hope this message makes you a better consumer. Feel free to post questions below to me with your experiences, comments, or requests for assistance. Contact information: I am part of a consumer advocacy organization assisting consumers with problems with creditors, debt collectors, and credit reporting agencies. Thank you. Sincerely,