What myth's have you heard about debt collection?

Question

I friend of mine emailed me and said that a friend of her's was telling horror stories about debt collectors.

She saild that a debt collector could call the a judge and have a warrant for your arrest issued. I told her that's what I'd call a "Suburban Legend". It was a myth.

But my friends email got me thinking about the many debt collection myth's that may be out there. Have you heard any?

J. Carlton Ford

Answer 1

J Ford: Most threats issued by collectors on any amount less than $5K is all just a bluff. I have been in collections (on the collecting side) in one way or another for years. Cash debts with no collateral are written off by the millions each year.

Your credit will suffer if you just change your phone # and forget about it, but if it is in collections and they are threatening lawsuits its probably already suffered. Remember the world is big. You are small and in the grand scheme of it so is the debt.

Consider the small write-off payment to you for the clean air and water these corporations have stolen from you.

Answer 2

I know for a fact they will call your home and harrass you until they get what they want. i moved from my moms house 2 years ago and this collector kept calling and calling her asking for me, she had givin him my number so he would stop calling her, and he never called me, he kept calling my family, one time my 9 year old brother answered and the guy was just screaming at him saying "she is in very big trouble and when i find her, i am going to get everyone in your home in trouble for not teling me wher she is!" i finally got ahold of him after a year of calls and i only owed $100. BIG DEAL!!!!!!!

Answer 3

most are myths but myths or not just the every day phone calls is enough to make you pay the bill -- and in most cases since it is a honest bill some fool decided to try to walk any from it should be paid!!!