Debt collectors: Payback ;)

[shabam]

I was watching the movie Maxed Out and was only further enraged by the tactics used by some of these debt collectors, so it got me thinking. I am a bit devilish like this.

When debt collectors buy the debt from a company, they assume responsibility for it right? Meaning, it is now their debt officially, as it must be paid back to them. Therefore, once it is sold to them (debt collectors) the cc company has nothing to do with it right?

Debt collecting firms are used to braking good honest people down and even screwing with them mentally to get money. Why cannot we the people do the same. They are all cocky about there being no amendment protecting our privacy and how it is not against the law to almost harass / intimidate someone for money. They have also stated it is perfectly legal for them to call your neighbors, friends, workplace, family, be deceitful, lie, play on your conscious, emotions etc to get the debt. Two can play this game.

So, assuming that the earlier questions are answered true, that the debt collection agency buys you debt and is solely responsible for it. Is it not safe to assume that once they do take over the debt and you file for BK (ch 7) they lose their own money? If that is the case f--k em. I would let all of my debt transfer to collections agency and then file for bk. So they themselves lose out. May teach them a lesson on what it feels like to be at the other end of the stick.

Certainly no law against waiting for your debt to transfer to debt collection company before filing.

[justbroke]

Well, there's a whole underbelly (underground) of junk debt buyers, who will buy BK debt!

They're like roaches... just won't die!

[shabam]

Good. Let them buy it using their own money, so I can then file for ch 7.

I will actually look forward to their calls. Once the last debt is purchased by one of them, I will file for ch 7.

[shabam]

Anyone else think I am onto something here?

While I am no lawyer, I assume this is perfectly legal. Not my fault who ends up with the hot potato. Time some of the ruthless and invasive private debt collecting agencies learn a lesson from we the people. They continue to exploit good honest people using various loopholes in the system. But much like anything, the system works both ways and two can play that game.

[dealingsdone]

I like your anger! Sounds like a great idea to me.

[WorkingItOut]

I think you're being ridiculous. Yes, they are scumbags. But if you need to file, just file! Why waste your time and energy playing stupid childish games with them? Don't sink to their level. Just file BK if that's what you need to do and be done with it.

Life will be so much better when you have better things to do with your time than play games with collection agencies. Which, by the way, could go on for YEARS. Not all creditors sell to CAs within 6 months. Some hold out for a very long time.

[keepmine]

I'd agree with the previous post. Take the emotion out of it and file if that's what you need to do.
Not all collection agencies buy debt. If the debt was a recent default {within 12-24 months} odds are it's been assigned as opposed to sold to a debt collector and they're working it on a contingency.

BTW, the economy is hurting collection agencies just like any other business. I doubt an individual bk will make any difference.

http://www.insidearm.com/forum/messageview.cfm?catid=9&threadid=7736&enterthread=y

[Genenco]

I'll side with the previous 2 answers. Simply as I also had thoughts of running their legs off (Oh yeah? Come on, do your worst!) and the best answer I got was like the poster who said "Why sink to their level?"

Sure it WOULD be fun, imagine them dragging me into court, standing before the judge and me handing the bailiff a bankruptcy petition filed just a day earlier!

What glee! What joy to see their faces hit the floor! (Snicker, chuckle and guffaw) But, again, that's just wasitng time better spent preparing to hit them with the nuke BK and getting things in order for the aftermath of rebuilding my credit.

I owe them no allegience, nor pity, but why be nasty in return? You do have better things to do.

[debtmonster]

That movie, "Maxed Out" is available on Netflix right now as an instant play. I rented it a while back. That's a very eye opening movie. Many here should watch it over and over to keep all of the information fresh in their mind.

They said the right thing... "It costs more money to buy with credit."

That's why I don't ever want to use credit again after I file BK!

[catleg]

Obviously first priority is your family's finances and mental health.
I think it's a given that a lot of people file BK way too early, just wanting the phone calls to stop.
I now think that if you can take it, you should ride it out until someone actually sues you.
That's almost like a triple play. You get the scum JDB's to cough up some good cash for "fresh chargeoffs" plus maybe they blow a few bucks on filing fees and other costs.
I would like to invent a "corbomite device" -- Star Trek reference there-- which calls these collectors in response for every call it receives. Tit for tat.

Come to think of it, if you knew nobody you cared about would be calling you, you could just setup call forwarding on your home phone to point it at another creditors collection dept. That would lead to some interesting calls. If enough people did that, it would eventually tie up all the autodialers and phone operators at both companies.

[StartingOver08]

Come to think of it, if you knew nobody you cared about would be calling you, you could just setup call forwarding on your home phone to point it at another creditors collection dept. That would lead to some interesting calls. If enough people did that, it would eventually tie up all the autodialers and phone operators at both companies.

Wow!! What a great idea!

[debtmonster]

You're not kidding! If I had enough bill collectors calling, I'd do that.

But with the service I have now, I can simply "block" the # and spoof a fake "Disconnected" message.

[Regrets]

Obviously first priority is your family's finances and mental health.
I think it's a given that a lot of people file BK way too early, just wanting the phone calls to stop.
I now think that if you can take it, you should ride it out until someone actually sues you.
That's almost like a triple play. You get the scum JDB's to cough up some good cash for "fresh chargeoffs" plus maybe they blow a few bucks on filing fees and other costs.
I would like to invent a "corbomite device" -- Star Trek reference there-- which calls these collectors in response for every call it receives. Tit for tat.

Come to think of it, if you knew nobody you cared about would be calling you, you could just setup call forwarding on your home phone to point it at another creditors collection dept. That would lead to some interesting calls. If enough people did that, it would eventually tie up all the autodialers and phone operators at both companies.

This idea would have the double advantage for me of also confusing my grandmother into not calling me anymore.

[Mi Bankruptcy]

LOL,, that's what I did. I waited until all my accounts were sold and included the original CC and the new CA. I guess.. we'll see what happens..

[debtmonster]

I wish the phone companies offered the same services that GrandCentral.com offers.

But I also like the idea if all of the people used call forwarding to forward their phone to random collection agencies. Make the collection agencies call each other all day and then use some kind of automatic dialer randomly change the call forwarding for you during the day. That would be hilarious. Many of us have modems and never use them since we're using DSL or a cable modem. We could put the modems to good use by plugging a phone line into them and if you have call forwarding on your phone, let the dialing program randomly forwarding calls to collection agencies throughout the day. If you're getting 50 calls per day, you can have some fun.