New York Times Article On Debt Collectors


LoanSafe Member
Apr 3, 2013
This is a great article. Explains the murky world of debt collection. The people that buy and sell the debt seem more like criminals than businessmen. It is especially unsettling that a lot of our personal information is getting into the hands of these types.


working for consumers
Sep 29, 2010
Yep... they seem to have gotten it right for a change. Thanks for posting!

a D.H.U. (Debtor Hung Up) was a sorry specimen because he had hung up the phone and would probably do so again; Always Hang UP

a C.B. (Call Back) was a better prospect, because he had at least bothered to call back; Don't Call Back

a Promised to Pay had potential, because he acknowledged that the debt was his; Don't make promises

a Broken Promise had failed to honor his guarantee, but that wasn’t entirely bad because you could now use that against him; Don't make promises

a Broken Payment simply needed a little nudging because he had started to pay and just needed to get back on track. Don't make promises

A centralized loan registry might help - Oh NO! Another repeat of MERS coming soon??? Just what we don't need. Instead we need to educate consumers to simply not paid debt collectors.

It simply amazes me that people will pay money to someone over the phone. Why??????? My hard no compromise rule - if you call me and I didn't get the money from you I am not giving you any money for any reason no matter what words you use so please cut to the chase and take me to court. In court I will examine your "paper trail" evidence, do discovery to get your contracts and records, take your deposition and call you to the stand to question your business practices. And IF the judge orders me to pay you then I will... or file bk 7 and get rid of you once and for all.
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