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Open letter to CA's (and you CollectorGRC)


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Many collectors have posted here thinking that we do not like CA's. This is not so, at least in my case. I understand that CA's function to help businesses collect money that is due them. Granted, there is hostility here against collectors. If you want to correct that, read on:

What I have a problem with is this:

1 I have yet to find a single CA that follows the law. They violate the law in some way. As many collectors have told me, "You make more money by breaking the law." There may be a CA that does, but I have yet to find one. Even the FTC says that complaints against CA's are at an all time high.

2 Nearly all CA's refuse to do PFD. Many times a person goes to collection through no fault of their own. Why not do PFD? Don't give me that "All CR's must be an accurate reflection" crap. There are positive tradelines for most consumers that never appear on one or more reports.

3 JDB's buying 6 year old, or out of statute debts and collecting at margins approaching 1200%, especially while claiming to be a creditor or "factoring company" need to be shut down. This isn't debt collecting, but loan sharking. IMO, the JDB's are the most abusive of the CA's.

If you guys as an industry would fix those issues, you would go a long way towards fixing the issues that, if left unchecked, are going to end with even more restrictive versions of the FDCPA and FCRA.

More and more of the press corps are doing stories on the abusive practices of DC's. It doesn't take a weatherman to see which way the wind is blowing. Fix your house, or congress will give us even more tools to fight you with.

Your fellow CA's have paid me 5 figures already. Some people I know have gotten even more.

BTW, welcome. I have no hostility towards any CA, as long as they play fairly.

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