Friday, November 13, 2015

Scam Arbitration Collection Agencies

If you owe an old debt or even if you don't owe a debt you may be contacted by a smug "arbitration" collection agency. These companies contact alleged debtors saying that they have a lawsuit pending against them and that if you don't act a warrant will be put out for your arrest. They also tell you that you will be receiving a visit from someone to give you legal papers at either your place of employment or home. They claim they are not a collection agency and they are an arbitration firm just to try and scare you. All of what they say is complete nonsense. The best thing for you to do is to hang up and report these people. I like mess with them a bit and some people record the calls and post them on YouTube. The important thing is is to NOT send them any money.

If a creditor has intention of suing you then they are not going to call you up and let you know your going to be delivered a summons. This is not effective because they need to serve you in order to start the process. Calling someone up and letting them know this is a sure way to completely screw up a lawsuit. Also, if there is any abuse when they try to collect a debt from you the judge will throw the case out. If it is beyond the statute of limitations it will also be thrown out.

These smug collection agencies purchase old debt for pennies on the dollar. That means anything that they collect they get to keep. Most of these debts are out of statute but if they get you to agree to a payment arrangement it opens the statute back up and they can sue you. NEVER admit to these companies that you owe a debt. If you think you owe this debt and want to pay it then pay the creditor directly and don't deal with the collection agency.

If a company is threatening you with violence or is pretending to be a police officer then contact your local authorities. These scumbags need to be stopped.

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