Comments on: When The Bill Collector Calls http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/ Learn, Network, Invest Mon, 23 Nov 2009 13:13:51 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Carnival of Money Hawks 2nd Edition http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-62470 Carnival of Money Hawks 2nd Edition Sun, 14 Dec 2008 14:06:15 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-62470 [...] Dorkin presents When The Bill Collector Calls posted at Real Estate Investing For [...] [...] Dorkin presents When The Bill Collector Calls posted at Real Estate Investing For [...]

]]> By: Carnival of Money Hawks-2nd Edition « Good Financial Cents http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-62341 Carnival of Money Hawks-2nd Edition « Good Financial Cents Thu, 11 Dec 2008 15:46:19 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-62341 [...] Dorkin presents When The Bill Collector Calls posted at Real Estate Investing For [...] [...] Dorkin presents When The Bill Collector Calls posted at Real Estate Investing For [...]

]]> By: 13th Bankruptcy & Debt Carnival. 100% Fresh Links Today… http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-61913 13th Bankruptcy & Debt Carnival. 100% Fresh Links Today… Mon, 01 Dec 2008 13:06:38 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-61913 [...] Dorkin presents When The Bill Collector Calls posted at Real Estate Investing For [...] [...] Dorkin presents When The Bill Collector Calls posted at Real Estate Investing For [...]

]]> By: 40th Money Hacks Carnival :: Steadfast Finances http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-61697 40th Money Hacks Carnival :: Steadfast Finances Wed, 26 Nov 2008 05:21:47 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-61697 [...] Estate Dispatch | BiggerPockets.com gives some excellent advice When The Bill Collector Calls and falsely accuses you of owing a debts you don’t owe.  As well as advice on dealing with [...] [...] Estate Dispatch | BiggerPockets.com gives some excellent advice When The Bill Collector Calls and falsely accuses you of owing a debts you don’t owe.  As well as advice on dealing with [...]

]]> By: Jennifer Martin http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-61443 Jennifer Martin Wed, 19 Nov 2008 09:20:50 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-61443 I actually had an even crazier situation happen. I am a realtor with a VERY common name and I was in my first month with my broker when he calls me into his office and hands me a letter and asks "what's this". It was a student loan "Demand Letter" for like $48,000! I about fell off the chair ... I stuttered and said, "It is NOT mine, I pay my student loan payment religiously every month". I mean I was freaking out because this broker could be thinking I'm a real winner lol. I took a copy of that letter home with me because I was intending to call and didn't want any witnesses to the language that could come out of my mouth as mad as I was. I called the number (not toll free mind you) and in 5 minutes had the gal on the other end apologizing and that it must have been a case of mistaken identity. But I was mad and I said, "Maybe you should have thought of that BEFORE sending a collection letter to the attention of my BROKER and by gosh I expect you to ALSO send him an apology letter that clears my NAME". I go into the office the next day and find out that my broker took that letter to his attorney and had him send a cease and desist order ... I about cried. I was so grateful that he didn't doubt my innocense. Well the company never sent him that apology letter but I've never heard from them again (knock on wood) and I knew I had one great broker! I actually had an even crazier situation happen. I am a realtor with a VERY common name and I was in my first month with my broker when he calls me into his office and hands me a letter and asks “what’s this”.

It was a student loan “Demand Letter” for like $48,000! I about fell off the chair … I stuttered and said, “It is NOT mine, I pay my student loan payment religiously every month”. I mean I was freaking out because this broker could be thinking I’m a real winner lol.

I took a copy of that letter home with me because I was intending to call and didn’t want any witnesses to the language that could come out of my mouth as mad as I was. I called the number (not toll free mind you) and in 5 minutes had the gal on the other end apologizing and that it must have been a case of mistaken identity.

But I was mad and I said, “Maybe you should have thought of that BEFORE sending a collection letter to the attention of my BROKER and by gosh I expect you to ALSO send him an apology letter that clears my NAME”.

I go into the office the next day and find out that my broker took that letter to his attorney and had him send a cease and desist order … I about cried. I was so grateful that he didn’t doubt my innocense. Well the company never sent him that apology letter but I’ve never heard from them again (knock on wood) and I knew I had one great broker!

]]> By: Umbrella Liability Insurance http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-61419 Umbrella Liability Insurance Tue, 18 Nov 2008 02:54:49 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-61419 This couldn't have come at a better time. All I see is more and more people who can't pay there bills and they are left with no choice but to use their credit. As their credit dries up the calls will begin. Collection agencies can be some of the most ruthless companies but consider what they deal with on a regular basis and you can almost understand why they are the way they are. Thanks for the great article. This couldn’t have come at a better time. All I see is more and more people who can’t pay there bills and they are left with no choice but to use their credit. As their credit dries up the calls will begin. Collection agencies can be some of the most ruthless companies but consider what they deal with on a regular basis and you can almost understand why they are the way they are. Thanks for the great article.

]]> By: Bankruptcy Lawyer http://www.biggerpockets.com/renewsblog/2008/11/17/when-the-bill-collector-calls/comment-page-1/#comment-61411 Bankruptcy Lawyer Mon, 17 Nov 2008 22:33:23 +0000 http://www.biggerpockets.com/renewsblog/?p=2296#comment-61411 Aggressive collection tactics will only increase over the next 6 months to a year. As more people are delinquent on their credit card payments, all the big players will step up their collection tactics and try to get as much money out of someone as they can before they declare bankruptcy. After bankruptcy most of that unsecured debt will be left off the repayment plan and the credit card companies are stuck holding the bill, so they're going to try and get their money as quick as they can. Aggressive collection tactics will only increase over the next 6 months to a year. As more people are delinquent on their credit card payments, all the big players will step up their collection tactics and try to get as much money out of someone as they can before they declare bankruptcy. After bankruptcy most of that unsecured debt will be left off the repayment plan and the credit card companies are stuck holding the bill, so they’re going to try and get their money as quick as they can.

]]>