Downright Scary Debt Collection Tactics

debt collectionWhen it come to recovering zombie debt, debt collection agencies will go to great lengths to try and pressure you into paying back the debt even when you are no longer legally responsible to do so. In fact, it seems that they are now teaming up with credit card companies to try and trick people into paying debts that they don’t legally have to pay and tinapbeana is reporting in the forums:

Background: apparently I have a debt with Wachovia from 2001. Long story short, I was much younger, naive, and trusting and found out about the debt after the fact. The debt is old enough that at this point the 3 year time period specified by my state has expired and I’m pretty sure I can have

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5 Responses to Downright Scary Debt Collection Tactics

  1. tim says:

    sneaky bastards!! they would also probably list your account as a charge off which would screw your credit for 7.5 yrs.

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  3. Steve says:

    You know it never ceases to amaze me at the lengths these collectors are willing to go to make a buck. They literally will lie, cheat and steal.

  4. Robert says:

    Unfortunately a “Cease and Desist” will not remove the item from your credit report. If you do ever settle the debt make sure they agree to erase it completely from your report. Making the account activity on your credit report more recent could actually affect your score negatively, even if you are in fact satisfying the balance.

  5. Don says:

    Be very careful when ever dealing with Resurgent Capital or their other related outfit, lvnv funding. They use a variety of tricks to try and get folks to send them money. Educate yourselves through the internet concerning them and discover your good options. Do not trust what they say over the phone. Do not ever send them money, especially a check by phone or western union payment, ever! If you ever decide on a settlement offer, Always always get someone from their place to send you a settlement agreement in writing first, specificly detailing in writing exactly what they will do for you if you send them a settlement check. You Must get this in writng from them first, and make sure you read it very carefully and it contains what you need them to do for you with a specific time frame detail included. Otherwise, you have only a verbal offer with no guarantee that they will do anything to assist you after they get your money. Don’t risk it, trust me. Look out for yourselves and your family finances. They must be willing to do specific things to help and benefit you in writing, in the proccess, otherwise, turn them away.

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