140,000 and Counting

FTC reports are old news. We see numbers all the time. But, let's pause and just think for a minute.

140,000 FDCPA complaints.

How mad does a consumer have to get to complain to the FTC? Would you? What would it take?

The FTC gets so many complaints against agencies and creditors they set up an easy to fill in website for consumers.

Yes, yes. I agree that there are millions of debtor consumers and we make millions upon millions of contacts. So, let's debate this a bit. The #7 category for most FTC complaints is Internet sales at 56,000. Seems to me that WAY more people shop on the internet than refuse to pay their bills. So, apples to apples, wouldn't internet sales be higher than FDCPA complaints?

I'm advocating using collection tactics that work. Direct, to the point communication. A good firm demand for payment. Listening to the consumer and solving problems. Hitting your numbers without bludgeoning the consumer into defending themselves the only way they know how.

We've created a cottage industry of lawyers suing collectors, we supply 22% of the FTC's business. This collateral work and expense defending ourselves could be better spent collecting more money.

I owned a collection agency for 17 years. I was sued three times. When we were wrong, we settled. When we were right we defended ourselves.

I'm championing strong collection efforts balanced with compassion for consumers in the ever worsening economy. We did it for years. It's very profitable. I can show you how.My website

How about we take a payment plan today rather than threaten somebody with arrest?

Tell me I'm wrong!