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If you do enough research on banking & think hard enough you will find that 3rd party debt collectors are all smoke and mirrors. Once you default on the loan & the bank issues charge off. The debt is covered for the bank, by at the very least insurance. Since a debt is an asset to them. As far as the debt collector goes, they are collecting on your belief that a debt still exist. I learned their tricks several years ago & dare one to try and collect on me. Do your research folks.
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Re: Why all the stress over debt collectors?
Well, since your first post here was horribly inaccurate, it is a good thing you are not going to try and drum up any business.Due to a recent promotion, I should now be referred to as Major Obvious.
I would not be trying to provide information and knowledge if I did not sympathize.
Some days it is just not worth chewing through the restraints to face life. -
Re: Why all the stress over debt collectors?
Perhaps you are a either in denial or a debt collector. Either way do you care to explain which part is inaccurate? Have you spent anytime researching USC title 12?Comment
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Re: Why all the stress over debt collectors?
Debt collection is the process by which debt collectors, anyone authorized by your creditor to demand payment on their behalf, recover a debt you owe. This includes mortgages, personal, student and auto loans, parking tickets and outstanding utility bills. Debt collectors are expected to follow fair debt collection practices stipulated by the Fair Debt Collection Practices Act, which is designed to protect consumers.Comment
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Re: Why all the stress over debt collectors?
There are different methods that an institution goes through in the process. For simplicity sake we will stick to the basics. If an institution (holder) carries insurance to offset a debt, they lose their interest to the insurance company, at the time it is paid. In either case, the holder or insurance company can elect to sell the debt to a third party collector or continue to hold interest in it. "Writing Off" a debt, is not related directly to the holders ability to collect on the debt. "Writing Off", is an accounting term, referring to the removal of a debt they do not consider collectable in the foreseeable future, from the companies books for tax purposes. At the time they "write off" the debt, the issue a 1099 to the debtor. This does not mean the debtor does not still owe the debt. If the debt were to be paid, the company would simply do a reverse entry in their books and taxes.If you do enough research on banking & think hard enough you will find that 3rd party debt collectors are all smoke and mirrors. Once you default on the loan & the bank issues charge off. The debt is covered for the bank, by at the very least insurance. Since a debt is an asset to them.
Incorrect. Many companies choose not to deviate from the main focus of their business to chase deadbeats. It is much more practical for them to sell the rights to the debt, to a third party collector, for a small fraction of the amount owed. The third party collector then attempt to collect all or part of the debt. If they buy 1 million dollars worth of debt, fro $50k and collect 200k of it, they have made a nice profit. Institutions like hospitals, have taken to forming their own collection strategic business units, charged solely with collections of medical related debts.As far as the debt collector goes, they are collecting on your belief that a debt still exist.
Originally posted by uowecollectors0 View PostDue to a recent promotion, I should now be referred to as Major Obvious.
I would not be trying to provide information and knowledge if I did not sympathize.
Some days it is just not worth chewing through the restraints to face life.Comment
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Re: Why all the stress over debt collectors?
You still have not proved that there was a debt to begin with! The reason why I used the term belief, is because the whole lending game is based on people's beLIEf that, they actually put the creditor at a loss. Do the research & it will show that by law banks can't lend it's own stock & if that was true, then what is really going on? Sure you sign a contract to pay back a "loan" but did the bank or credit company actually lend anything? Or are they authorized to extend "credit"? Think about it. Think about this, when was the last time you went to the bank to withdraw funds and it was not there? Most people beLIEve that banks are lending depositors money would you agree? What if it were true that when one goes to get a loan, they are the one's responsible for creating more fed notes to mimic the invisible credit that's now part of system? Most folks have detached themselves from the fact that the national debt has anything to do with them. Every time we so called borrow it goes on the forever increasing gov tab called the national debt. The bank & creditors are here to help facilitate the belief in money - In God We Trust - money is most folks god whether they realize it or not. Banks get to get you into slave contracts like devils due to the belief in the pieces of paper with numbers on them which are not backed by gold or silver but your labor. Think about it. Is slavery still alive and well, but in another form? Think about it. It's all a grand game the way I see it now. Most are pawns being played in a game without knowing it's a game much like the matrix. As most have chosen not to learn the rules. Do the research folks. Study the US code it's all there. It's coded for a reason though but it's there if you have the patients to decipher it. Bottom line is that 3rd party debt collectors are not entitled to one thin dime, unless they can get the pawn to beLIEve they are entitled. Unfortunately just knowing this will not get one out of the alleged obligation, that's why I say do the research because there is a simple way out by properly requesting for proof of their claim & FDCPA is not strong enough in my experience for the average to handle the situation. Either way I have said enough but hopefully this will give a few of you the drive to seek out the master illusionists behind the curtain.Comment
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Re: Why all the stress over debt collectors?
There are master illusionists behind the curtain. Unfortunately, your master delusion has nothing to do with the strings they pull. Sorry, go play your Reductio Ad Absurdum games elsewhere. If I wanted to play, I can beat your assertions in 35 words. Loans are printed on paper in ink. Money is printed on paper with ink. Therefore, I can legally obtain anything I desire by printing ink on a piece of paper and giving to another person. Go hawk the trash you were planting seed spam for elsewhere. This site is to assist people with troubles, not create a sales venue for scammers to profit by selling their wares.Due to a recent promotion, I should now be referred to as Major Obvious.
I would not be trying to provide information and knowledge if I did not sympathize.
Some days it is just not worth chewing through the restraints to face life.Comment
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Re: Why all the stress over debt collectors?
Interesting response!
My response...
.Comment
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Re: Why all the stress over debt collectors?
You are missing the entire point behind the FED scheme. The entire game you reference was put in place to support the US Gov't agenda that everyone should be able to afford a home. Here is some direction on what game the master illusionists are really playing. When the dollars are worthless, they will next go to the Amero an the North American Union. Once they exhaust the profits from that, we will go to a One World Order and currency. Enjoy.
The True History of the Banking Cartels and the Federal Reserve - YouTube
CORPORATE FASCISM: The Destruction of America's Middle Class - YouTube
Federal Reserve System Scam - YouTubeDue to a recent promotion, I should now be referred to as Major Obvious.
I would not be trying to provide information and knowledge if I did not sympathize.
Some days it is just not worth chewing through the restraints to face life.Comment
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Re: Why all the stress over debt collectors?
Ok, yea I get all that, but wasn't sure folks here get that. You went heavy with it, I went light weight. I used to think that the Amero would come into play but not so sure now. I'm more thinking that they will go to chipping instead, do everything electronic. Ownership of anykind by the way is an impossibility. The gov owns it all or holds all property in trust. Claiming ownership makes one an enemy of the state.Originally posted by Disagreeable View PostComment
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Re: Why all the stress over debt collectors?
Most people who owe money, don't look at it like a legal game.
They want to be honorable and pay.Comment
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Re: Why all the stress over debt collectors?
Do the research and you will find that there was never a actual loan by the so called lender. An extension of credit yes but not a loan whereby the alleged lender takes a loss. If you disagree, then please tell me how lenders lend?Originally posted by Unregistered View PostComment
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Re: Why all the stress over debt collectors?
We already covered this. Go watch TV or read your previous explanation.Originally posted by uowecollectors0 View PostDue to a recent promotion, I should now be referred to as Major Obvious.
I would not be trying to provide information and knowledge if I did not sympathize.
Some days it is just not worth chewing through the restraints to face life.Comment
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Re: Why all the stress over debt collectors?
I believe the response was not meant for you. Why not mind your business?Originally posted by Disagreeable View PostComment
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Re: Why all the stress over debt collectors?
Why keep reposting the same information, in the same thread? Are you stuck in low gear?Originally posted by uowecollectors0 View PostDue to a recent promotion, I should now be referred to as Major Obvious.
I would not be trying to provide information and knowledge if I did not sympathize.
Some days it is just not worth chewing through the restraints to face life.Comment
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