Whats Your Job/Occupation?

[nick1091]

Originally Posted by robinandtami

It doesn't make the debt disappear... but since her only income is SSD.... and 100% of that goes to the nursing home she resides in..... and it will be that way for the rest of her life....... eventually it will cost them more to continue to try to collect the debt than she actually owes.

Could be true, but a lot of times collectors will continue to make attempts on collecting because of either the nuisance factor (i.e. they would hope they become enough of an annoyance that you simply pay them to go away), or sometimes they won't write off a debt on the (sometimes remote) chance that the debtor's circumstance could change (wins the lottery, inheritance, tax refund, lawsuit settlement.) It's not nice, but it is legal.

What is not legal is for any collector to call ten times a day. They are allowed one completed phone call per day to both the home residence and also the place of employ. However, if you have the address of the agency, send them a certified letter explaining your position and requesting all correspondance going forward be done in writing. If they continue to call after receiving this letter, they are in violation of the FDCPA and can be reported to (and fined by) the FTC.

[toef]

Originally Posted by beefytwinkie

I'm a CPA. When I first started out I thought it was interesting but now, I'm not sure I want to continue in this profession. The only reason I'm not moving is because of the turbulent climate of the job market these days. Accounting certainly has it's benefits and decent job security.

I look at my bosses and they are the biggest ---holes in the world. I hope I never become like them. And you know it's bad when you wish for horrible things to happen.

So yea... that's my mundane existence.

Remember guys: Assets = Liabilities + Owner's Equity

So why not quit and start your own small practice? Unless you are worried about still becoming like your bosses.

It seemed like a great idea when I was in school, and I'm 3/4 of the way through the CPA exam (still have BEC left, though I don't think it will be a problem) but now I kind of hate accounting, and you don't give me any hope.

[camper]

Originally Posted by Ricshoe

Whoa, that sucks! I suppose it took speaking with multiple supervisors before that got resolved, huh?

It took a LOT of crap that it shouldn't have ever taken. I told them if they called again, I would pursue litigation in accordance with the fair credit reporting act. Either the threat worked, or they ironed it out because I never heard another word. It was years ago, so I know it's a dead issue on my part.

Originally Posted by Teabaggins

Camper was also dealing with a retail agency, the ones who pursue individuals.

True....but if a person is a small business owner they'll still get the same collection calls but from you guys instead since the business credit is usually secured by the individual. You guys just might be a bit more professional about it, I don't know because I've never dealt with business to business collections--I don't think.

camper

[Teabaggins]

Originally Posted by camper

True....but if a person is a small business owner they'll still get the same collection calls but from you guys instead since the business credit is usually secured by the individual. You guys just might be a bit more professional about it, I don't know because I've never dealt with business to business collections--I don't think.

business credit is usually NOT secured by the individual's assets. people set up corps to protect their personal assets, typically. depends on the creditors as well

[Layd Dly]

Information Technology for the Orlando Magic, i love my job and i get paid to watch basketball.

[SDon1969]

Originally Posted by Layd Dly

Information Technology for the Orlando Magic, i love my job and i get paid to watch basketball.

...and, they're playing very well right now & kicking arse! Cool!

[ZackL]

Originally Posted by Teabaggins

also, I only deal with our clients(the companies who are owed the money) I'm not the one doing the actual collections on other companies.

We handle a lot of contractual disputes or problems with product/service as well as companies just flat out refusing to pay a legit invoice. Sometimes we have to correct our own clients as well when they are in the wrong and help both parties find a middle ground. Our investigators are only as douchey as the debtor makes them, if you act civilized then they will be civil as well.

FDCPA doesn't really apply to commercial debt but our collectors and investigators hear it on a daily basis as an excuse.

We use attorneys and PI's as well if need be.

I don't see why you need to defend yourself... the only people that don't like your profession are the financially irresponsible and by the sounds of it in your case, failing businesses. What is supposed to happen when you borrow money you can't pay back? We don't live in a care bear society where repercussions don't exist.

[My_Two_Cents]

Originally Posted by ZackL

I don't see why you need to defend yourself... the only people that don't like your profession are the financially irresponsible and by the sounds of it in your case, failing businesses. What is supposed to happen when you borrow money you can't pay back? We don't live in a care bear society where repercussions don't exist.

Yet....but we're getting there!

Can't manage your business properly? That's okay. We'll just let the taxpayers bail you out!

[katharsis]

Website administrator, graphic designer for an adult company.

[Uniquely]

Originally Posted by Teabaggins

the agency should pull the plug on the collection after a while. the problem is that companies like Discover have 3 to 4 agencies as backup ready to go. how long has this been going on?

My wife's mother had a severe stroke two years ago at the YOUNG age of 52. My wife actually made payments on the bill for her for a while... but one month simply forgot to mail it. The calls started immediately several times a day..... so it made my wife angry and she quit paying anything towards it..... since it was never her legal responsibility in the first place... and her mother's credit score is her last priority. I'd say it's been about 4 months now.

[Layd Dly]

Originally Posted by SDon1969

...and, they're playing very well right now & kicking arse! Cool!

Yes. Number 1 in the NBA, playing Boston at home on Thursday. I have tickets but will be working the game as usual (its work i actually like).

[Obiwang_3zero3]

Originally Posted by SHines-IT

Sweet, lol. I am thinking about getting BES, when I build a my Exchange Server. I have been happy with my change over to Sprint from VZW... All though I have an odd charge on my bill this month, need to get that resorted...

If you ever get the BES there is a version which is 4.1.6 that we use here that enables full HTML email and web once your device is updated to 4.5 or higher. Currently we will be releasing 4.5 OS for the Curve which includes and enables MMS so that you can send picture mail. Other than that you just switched over to the fastest data network in the wireless industry! How many client license are you planning on purchasing for the BES?

[camper]

Originally Posted by Teabaggins

business credit is usually NOT secured by the individual's assets. people set up corps to protect their personal assets, typically. depends on the creditors as well

This is generally not the case for a small business owner. If you get a small business administration loan, for example, you are putting your own information on the line and are taking responsibility for the debt. If the SBA loan goes into default, it could be considered a 'business' loan and could (I would think) go to a b2b collector. Corporations are generally a different entity, but since there are many types of businesses one could start (sole proprietership, partnership, etc) the legal entitity which is getting the actual loan could be an individual. Not every small business is a corporation, and honestly I don't think that most small businesses are because getting a loan for a corporation (and most business owners need loans) can be incredibly difficult unless it is very well established.

Obviously none of this comes into play until the deliquincey phase, since most businesses are just inefficient at paying their bills and run behind...but when it comes to reporting to the 3 credit reporting agencies it's very possible that an individuals credit report will be affected, and a specific person will be called regularly.

camper

[SDon1969]

Originally Posted by Layd Dly

Yes. Number 1 in the NBA, playing Boston at home on Thursday. I have tickets but will be working the game as usual (its work i actually like).

Wear a pink, ruffled shirt with yellow polka-dots, I'll watch for you on TV!

Seriously, enjoy the game, sounds like a great job!!

[Teabaggins]

Originally Posted by ZackL

I don't see why you need to defend yourself... the only people that don't like your profession are the financially irresponsible and by the sounds of it in your case, failing businesses. What is supposed to happen when you borrow money you can't pay back? We don't live in a care bear society where repercussions don't exist.

I figured why not try and educate peeps.
The surprising thing is that many of the business we pursue are doing quite well and they choose to avoid paying one specific company for random reasons which would seem unreal to the average person on the street:

1) they don't require their services anymore so try to avoid paying the final bill
2) they found another supplier so they try to dodge this one even though they have had a 20 year relationship
3) they one tiny issue so use it as a reason to not pay the entire bill which
4) they are a massive(publicly traded) company and know that our client doesn't have the funds to fight their huge legal teams(this one most people can't believe when I tell them) so they test their resolve.
5) my client did them a favor in a hurry and didn't get the necessary paperwork done in time so the debtor tries to screw them even though they had enough of a long term business relationship that warranted the favor.
6) one of the regional managers of the debtor company has a grudge against someone so refuses to pay for personal reasons.

there are many others. This is not always the case but it happens more often that the average joe would imagine it to.

once you get into the business world you realize how ****ed up it really is and what little petty corners people cut to stay on top.

[Teabaggins]

Originally Posted by camper

This is generally not the case for a small business owner. If you get a small business administration loan, for example, you are putting your own information on the line and are taking responsibility for the debt. If the SBA loan goes into default, it could be considered a 'business' loan and could (I would think) go to a b2b collector. Corporations are generally a different entity, but since there are many types of businesses one could start (sole proprietership, partnership, etc) the legal entitity which is getting the actual loan could be an individual. Not every small business is a corporation, and honestly I don't think that most small businesses are because getting a loan for a corporation (and most business owners need loans) can be incredibly difficult unless it is very well established.

Obviously none of this comes into play until the deliquincey phase, since most businesses are just inefficient at paying their bills and run behind...but when it comes to reporting to the 3 credit reporting agencies it's very possible that an individuals credit report will be affected, and a specific person will be called regularly.

camper

most b2b issues that involve agencies are not loan related, they are credit related for service or product where the individual's assets are usually not at stake.

[Teabaggins]

Originally Posted by robinandtami

My wife's mother had a severe stroke two years ago at the YOUNG age of 52. My wife actually made payments on the bill for her for a while... but one month simply forgot to mail it. The calls started immediately several times a day..... so it made my wife angry and she quit paying anything towards it..... since it was never her legal responsibility in the first place... and her mother's credit score is her last priority. I'd say it's been about 4 months now.

if you want it to end contact them and tell then they will never get paid due to the illness and then offer them a minuscule(tiny %) payment as a final settlement. take it or leave it kind of thing. get a copy of the letter sent to you and it should be over.

[camper]

Originally Posted by ZackL

I don't see why you need to defend yourself... the only people that don't like your profession are the financially irresponsible and by the sounds of it in your case, failing businesses.

This isn't an entirely accurate statement. Consumer advocacy groups across the country have issue with the way that lenders lend, and collectors collect. I'm not accusing teabaggins of any shady business practices whatsoever, why are you accusing those who have issue with the collection agency process as deadbeats or failed business owners?

What is supposed to happen when you borrow money you can't pay back? We don't live in a care bear society where repercussions don't exist.

I have no issue with people being paid what they're owed, it's the only decent thing to do. But it's ironic that you imply that failing businesses deserve to fail because they're financially irresponsible, and many of these lenders just got a 700 BILLION dollar bailout from the taxpayers so they wouldn't fail and NOBODY knows where this money went.

camper

[camper]

Originally Posted by Teabaggins

most b2b issues that involve agencies are not loan related, they are credit related for service or product where the individual's assets are usually not at stake.

OK, I think I got you...you're not a debt buyer, right? You're more a fee for service type of collector from what I'm getting...is that right?

They're not the same type of collections, I agree.

camper

[Uniquely]

Originally Posted by Teabaggins

if you want it to end contact them and tell then they will never get paid due to the illness and then offer them a minuscule(tiny %) payment as a final settlement. take it or leave it kind of thing. get a copy of the letter sent to you and it should be over.

One would think! We actually did all that two years ago when she became ill. She actually had 3-4 CC's with small balances..... so my wife explained the situation to them and faxed them her POA... and they all discharged the accounts...... except for Discover. They are determined..... but they will get over it eventually.