Exploring the Debt Collection Industry

August 7, 2006

The Debt Collection Industry in America has Changed

Filed under: Debt Collection Industry — budhibbs @ 4:30 pm

The debt collection industry in America has taken a turn for the worse. Gone are the days when consumers and collectors could talk and work out reasonable settlements, based on professionalism and accepted business practices. Today’s debt collector is viewed as an uneducated, job hopping, drug induced moron who is under incredible pressure to hit a quota or face job loss. Owners are flush with large hordes of cash, so paying off lawsuits has become just another cost of doing business. Washington, DC and your state capital is not concerned about this problem and the FTC and your state attorney’s general are too over-whelmd to make a dent in the problem.

I receive more than 400 emails every day from consumers complaining about the illegal tactics used by debt collectors to fleece them out of their money. You file is now a ‘case number’, everyone is a ‘legal assistant’ or you’ve reached the ‘pre-litigation department’ which is nothing more than a call center where everyone is strung out on something, from an abundance of caffeine, uppers, downers, coke and smoke. Most blame the pressure of the industry as it has exploded in the past three years to numbers that were once unimaginable. This has caused the debt buying segment to expand to a billion dollar industry and accounts that are ten and fifteen years old, to be back on the front burner, with a renewed vigor by the over-zealous debt collector to seperate you from your cash.

To add to the pressures on both sides, the bottom feeders, those who buy old accounts are taking extreme measures to collect at the expense of violating laws and in many cases, committing crimes. These violations from organizations such as Unifund, Asset Acceptance, Midland Credit,  Account Management Services, Collect America, NCO,Shekinah,and anyone with a Buffalo, NY address threatening legal actions, posing as law enforcement and attorneys, manufacturing bogus documentation to validate their court filings, purchasing money orders to show phony payments on accounts, contacting third parties, violating everything the Fair Debt Collection Practices Act (FDCPA) states they should not legally be allowed to do.

The time has come to make changes and give consumers weapons to fight back these parasites of the American economy. I read recently where notorious bottom feeder Unifund, of Cincinnati, OH was at a debt buyers conference and their booth sign read: “FUTURE HOME LIENS FOR SALE!” Unifund president David G. Rosenberg has made millions living off the misery of others, with his despicable collection practices and innovated a lot of the bogus court filings that are now common. The good news is there are new ways you can employ to counter the moves of these parasites for both now and in the future that will make their jobs harder, more costly and bring a wrath of new legal problems upon them.

Having more than twenty years experience in this business, talked to millions of consumers dispensing advice, a few books, lots of radio and television and an upcoming movie on my resume, I feel it is now time to share this knowledge on a scale that will arm the average consumer with information and resources to considerably up the ante for the debt collector. I’m looking for your input, your feedback on proven methods that will change how debt collectors operate. This blog will be a place to get assistance on dealing with the debt collectors on a scale that slows them down, holds them accountable, gives you power you never knew you had and ways to bring their collections to a crawl.

We will also ask for those working in the industry to share their thoughts, secrets, business practices and give us an insight to what’s wrong with the collection industry in America.

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101 Comments

  1. So, where do Unifund proceeds go after the Zises Brothers ACAP Offshore laundering in the Cayman Islands? …funding of Israeli settlements in Palestine, according to AlJazeera:
    “The Roundtable Political Action Committee includes Riklis, junk-bond king Michael Milken and founders Jay, Selig and Seymour Zises. Seymour Zises is also president of the National Political Action Committee, NPAC, which works in tandem with AIPAC, the highly influential American-Israeli Political Action Committee. Jay Zises is president of “Friends of the Israeli Defense Forces.” Others include Ivan Boesky and executives of United Fruit/Chiquita Banana while the son of Loew Corp. owner, Laurence Tisch, is a co-founder.
    Menachem Atzmon, convicted of campaign financing fraud in the 90s, and Stephen L. Friedman are partners of International Consultants on Targeted Security (ICTS) run by former Israeli military commanders and government intelligence agencies. In 1999, ICTS took over management of security at Logan Airport in Boston under its subsidiary Huntleigh , USA and was in charge on 9/11. Friedman is a member of the Israel Defense Fund. And then there’s Ronald Lauder, heir to the Estee Lauder cosmetic fortune who is treasurer of the World Jewish Congress and a trustee of the Special Reserve Fund of the Anti-Defamation League.
    Media links are not missing. Marc Belzberg, business partner of the Zises, owns the Jerusalem Post and funds West Bank settlements. He’s a major supporter of the Sharon-linked yeshiva seminary rumored to be training the priesthood for the Third Temple to be built on the Temple Mount after the Al Aqsa mosque is destroyed. Along with Ira Rennert, and Irving I. Moscowitz, Belzberg was involved in the contentious opening of the tunnels under the Al Aqsa mosque; one opening caused 76 Palestinians deaths in three days of fighting. Rennert now controls the tunnel entrances. Moscowitz funded Jewish take-overs of housing in East Jerusalem and settlements in the West Bank .
    Marvin Josephson, owner of Hollywood ‘s International Creative Management (ICM) agency, has not only been Henry Kissinger’s literary agent but is Chairman of NPAC. Mortimer Zuckerman owns US News and World Report and the New York Daily News. He regularly agitates for war against Saudi Arabia and other Arab nations in his column US News. He is a director of “Friends of the Israel Defense Forces.”
    Mervyn Adelson, ex-husband of Barbara Walters and former Chairman of Lorimar Telepictures, is a friend of Benjamin Netanyahu. His lawyer, Yaakov Ne’eman, was Israeli Finance Minister under Netanyahu. Henry Kravis of RJR Nabisco is also a sponsor of Israel ‘s right wing and a Republican donor with ties to the Bush family.
    Underworld connections come from casino owners with early ties to the Meyer Lansky/ Moe Dalitz Mafia syndicate. They include Mervyn Adelson and Sheldon Adelson. Sheldon wants to build casinos in Israel and has been granted gambling licenses in Macao , China along with Steven Wynn, owner of the Mirage casinos. Wynn sponsors right-wing Israeli causes, has ties to Lansky and is a member of the board of the George Bush Presidential Library. Henry Kravis has early ties to Lansky but isn’t connected to gambling. However, the EU has accused him of narcotic money laundering.”

    Comment by lufkug — May 22, 2009 @ 5:11 pm


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