Fighting Debt Collectors; Forcing Less Credit

There’s an interesting article out today talking about the growing number of people who are fighting back against debt collectors.  With the recent recession, more people are finding themselves in the position of having bill collectors come after them.  Now people are starting to fight back.

Lawyers and even former debt collectors are doing their part to educate consumers on what debt collectors can and cannot do when it comes to collecting a bill.  Consumers are taking advantage of websites such as Debtorboards.com to learn how to get rid of collectors once and for all.  Many bill collectors have been successfully sued for the tactics they use to collect, and more consumers are using the courts to keep the collectors away.

So, what can we expect to come as a result if more and more fights against collectors are successful?  Most likely an atmosphere where it’s that much harder to get credit.

I hate the bill collectors just as much as the next guy, the tactics they use are horrific and they often go after people regardless of whether they owe the money.  But making it harder for collectors to get their money means many of them will go out of business, and many more will pay less for the bad debt they do purchase.  That means companies that issue credit will be that much more careful before they issue credit or give you the okay to be on a payment plan.

Is that a bad thing?  Not at all.  I just hope that people realize that successfully fighting debt collectors means companies will be forced to be less trusting than they have been in the past.  After all, rarely in life do you get to have things both ways.

Comments

[Manny on Credit Matters]

Debt collectors are really notorious and I believe they are trained that way. But, do we really get jail for not paying our debt? Or those were just stories from the debt collection companies so that we will be alarmed and will pay our debt?

Manny