Dave Ramsey - Credit Card/Debt Collectors are SCUM
My hero, Dave Ramsey, tells of abusive practices and the violation of Federal law incorporated by debt collectors - particularly credit card debt collectors. Most people do not know that they have rights guaranteed to them by the Fair Debt Collection Practices Act (FDCPA) and debt collectors knowingly and habitually break these laws in order to frighten them into paying. IT IS NOT AGAINST THE LAW TO OWE MONEY! Do not allow yourself to be lied to (example: “You’re going to go to jail if you don’t pay this” is one of their favorites!) or treated without the dignity you deserve. KNOW YOUR RIGHTS UNDER THE FDCPA: Collectors can NOT call you before 8 am or after 9 pm Collectors can NOT threaten to have you arrested or charged with a crime if you dont pay Collectors can NOT continue to call after you have indicated you want them to stop (record your conversation with them, tell them you ARE recording it, write the date and time down in a journal, and follow up with a certified letter stating they may no longer call.) Collectors can NOT call friends, family members or colleagues repeatedly in order to get you to pay (they may call your acquaintances ONCE in order to track you down and may NOT mention that you owe money or give ANY information that would lead someone to believe that they are attempting to collect a debt.) For more information on your rights under the FDCPA, please visit my website at www.myarrp.com (click on the “Help With Credit” link at the top.) To the scum …
Tags: Collectors, SCUM, Card/Debt, Dave, Ramsey, credit
Related posts:
- ABC News 20/20 Debt Collectors
- Dave Ramsey’s Financial Peace University DVD 3-Pack: The Great Misunderstanding, Cash Flow Planning, and Dumping Debt [DVD]
- 60 Minutes - Crusade Against Credit
- How to Legally Settle Your Personal and Credit Card Debt for Pennies on the Dollar: Without Filing Bankruptcy
- Credit score Card Credit card debt Settlement: An Option Well worth Taking into account?
Yes, it’s common sense.
At 19 I’ve decided not to buy anything on credit unless there’s a good reason for it. It’s tempting to go buy a new car on credit but every time I’d see that vehicle it would represent a whole in my wealth and my future.
One big trick debt collectors will do. Even after the statue of limitations runs out. They will, in court, file a judgement against you. This is illegal, but if you don’t show up you automatically lose. I now see why they don’t teach this in schools, or the importance of Mid-Term Elecetions, how to judge home purchases in crime cities, etc. Educate yourself on things used in day to day life.
In the letter. List any, and all places of contact you don’t want contacted by any agency. Never call to make payment arangements. They will call and say something like this. “Remember Mr. Wilson about that payment you agreed to?” Then out of suprise you answer yes. You just got had for another 7-10 years so be careful. I never did pay back that 410k dollars. How does it fill banks? What goes around comes around banks.
I was 21 then, and when I found out how credit really works. That is when I decided then to not buy shit unless I had 80% of the monies down or all of the money. The statue of limitations for one of the 550 collections agencies to collect a debt is 7-10 years. After time runs out, they legally CANNOT collect from you. If, and only if you are tricked into a payment then from that date, the statue of limitation starts over. You have to write a letter to the agency. Send it certified……………
Unfortunately, and there has been studies on this. Many people don’t really know how credit works so I educated myself on this subject years ago ahwn I purposely turned in my 1993 Nissan Truck in 1994. They called back, and said would I like to reclaim it. I said no. They said I would have to pay the difference after an auction sale. I told them I returned it, and in excellent condition. I honestly did not know what the hell they were talking about.
BIG THANKS for this video !!! I just stopped to pay my credit card. After many years of paying on time and good history with them ,they sllaped me with raising the interest rate from 9% to almost 18 % which made huuuge differnce in payment.
I lost my job and my husband’s buissnes went down more than 50 %,so how can I pay the debt ? When I told them what happend and that they R killing me ,they said “it is a buisness decition”,well my buisness decition was not to pay,if not,what else ??
Best way to deal with collectors? DON’T BORROW A CENT FROM ANYONE IF YOU DON’T ABSOLUTELY HAVE TO! ONLY BUY THINGS YOU CAN STRAIT UP AFFORD! That is truly the best way.
Nicely put! Bill collectors steal money from orphans and widows and spend it on porno and drugs!
Hello. Glad to provide this video & hope that it will help those in need of the information.
I welcome comments - positive & negative; HOWEVER, I will not have any foul language or abusive comments posted here.
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Thanks! ~MyARRP
great video, thanksssss
Bottom feeding debt collectors and debt buyers are filth. Talk about a Criminal Organization.
these debt collector buy the debt from ur debter.. they they try to collect from u hopefully full amount and make alittle money on or theyl l eventually ask for what they have in u.. usually half origial amount… so if they bought 500 dollars of debt for 350 why not give me the debtor the 350 then when u come to collect ill give it back and u break even which is as good as u wudda got anyway. and the debts paid.
DEATH to debt collectors!
Ramsey you are a Consumer General meaning I commend you in your way in protecting us. One the money “no agency to protect us from unfair pratices” .Maybe Obama’s request for a Consumer Protection Agency can handle such issues or maybe the guy who flew into the IRS building will start a trend?
Tennesseeing is Believing….LOL, listen and watch Tennessee’s favorite son Dave Ramsey on the Dave Ramsey show online (2-5 Knoxville/1-4 Nashville) and on FOX Business (8 Knoxville/7 Nashville) by the way, a great alternative to prime time.
Tennessee, watch the Dave Ramsey Show on Fox Business Channel, weeknights at 8 Knoxville Chattanooga/ 7 Nashville Memphis
Global is the scummiest of scumbags. These guys will frequently call relatives and others in violation of Federal law.
My wife and I had perfect credit for 20 years fell behind in our cards that we had 4 about that long do you know how much money them bastards made off us in that time we have charged up n paid off they would not work with us at all now r sewing us will not work with our dept settlement agency they want you to file bk they will get all their money back fucking vultures where was the bail out for the consumer there is a special place in hell for them im sure pay cc or pay mortgage hard desition.
yeah but isnt bankruptcy worst than getting the phone call from debt collectors.’
Not sure about the US but in Austrlaia dont most debt collector work for a salary. The boss get commission but the acutal employees ( who make the calls) get a salary.
Sure the collectors might get a small bonus for meeting there targets but it’s not like the actual collector get 900% profit.
very true but as I said at the end of my novel of a statement if you don’t like debt collectors then pay your bills. If they break the law call them on it and get your bill paid, but if they don’t, then grow a spine and pay what you owe.
@genothetank True but that still dosent stop them from taking legal action agaist you. Which is probably what they will do ( depending on the amount you owe)
If it wasnt for debt collector though people would say “Fuck off I’m not paying”
Collectors BUY rancid accounts for 10% of account total; then they act like they’re trying to collect on behalf of the original creditor when it’s all their money; then they act “generous” when they tell you they will accept 1/3 less to wipe out the debt when they’re making a 900% profit.
Is it surprising that this industry attracts sleazebags like shit attracts flies?
“Harass people to pay their old debts for wild money! Only GREEDY people need apply!” That’s how they recruit.
Fuck them!