|Posted on September 23, 2009 at 8:31 PM|
From an inside perspective, I've thought of the Collection Business as very prestigious actually. I'm not embarrassed to tell someone I do Debt Collection, as a matter of fact I'm proud. It happens to be a necessary component of business in general. Debt Collection is the end result of write off. How much a company pays in taxes. Should they de-age the account to prevent write off, they will pay taxes on this earned income.
I have always remained a professional in this business, no matter what. It is a position of power, and control that affects many individuals in the pipe line of communication. It's a very long pipe line, and many people on both sides are involved right to the end. Which is where I come in. I am the end legal process, after all the bill collectors call, and attempt to collect. By this point the debt has been charged off, and placed or sold several times over.
Typically by the point of litigation, people are so numb to the empty threats of collection agencies, they pay no attention to the actual law suit that is commencing. This time it's for real. It causes many people to end up with judgments, that really don't have to. It's not difficult to file an Order To Show Cause to get a judgment vacated, and have a new hearing set. It's usually free.
Most people do not know the inter workings of how the collection business works. In turn causing a wave a victims for some time now. It will continue, until the debt is eventually wiped out. Every dollar in America has to be accounted for.
When you "Settle For Less Than Full Balance", you still sustain damages to your over all credit report. Plus any debt over $600 that you don't pay in full...the amount you "don't" pay will be counted as "additional income" for the year, by the IRS. You will be taxed on it as a 1099, a self employed person. Especially judgments, which get picked up by the credit bureaus fairly quick.
International money plays a part too. It has an indirect strangle hold on the economy. I am in direct contact in several capacities, with collapsing business everywhere. It is disturbing, and in many situations there is nothing anyone can do. It is so out of control, it is beyond the average persons comprehension.
We are at a turning point in human history. It is before us now. The collapse of a failed financial structure that was doomed from the start. Unfortunately at the peoples expense. Today will mark in history that a change is upon us.
People will drive the next society, with power from within. Growing numbers mean, growing power. Desire to live a life that is, "not" dictated by tyrants. This is not true life. It's a puppet show. Our people hang dangling by a string of forced movements. The puppeteers are pocketing the money taken from the puppets.
It's imperative people take back their control, and become more self efficient. If you have debt, call them up and say, "Listen, I want to settle this debt for 20% of what I owe, or I have to file bankruptcy". Or, "I want to pay my account in full, on the condition my credit report indicates it's paid in full immediately/ or was never delinquent". It's about simple negotiation, with an individual just like you. You do not need to hire any type of debt service to handle your debts. They skim their fee's off the top, and proceed to not pay your bills in a timely manner. Typically this is what I've witnessed over many years in this business.
I mention this as a blog subject, because it seems to be a profound situation right now, and needs to be addressed. People are suffering from depression, and despair over "debt". I'm telling you it's not necessary to handle it that way. It has to be dealt with as a business transaction with no emotion. If you're pushed into a corner, you file bankruptcy, if qualified. There's usually a solution, no matter what the situation may be.
Love, Faith, and Hope are what motivates me today...May those powers reach the deepest depths of your soul..Blessings from our Mother Goddess...Ama'