Comments on: Dealing With Debt Collection -

By: Carnival of Debt Reduction » Welcome to this week’s Carnival

Carnival of Debt Reduction » Welcome to this week’s Carnival — Mon, 01 Mar 2010 11:08:46 +0000

[...] Eliminate The Muda! discusses how to deal with debt collection. [...]

By: Yakezie Challenge Carnival - DeliverAwayDebt | DeliverAwayDebt.com

Yakezie Challenge Carnival - DeliverAwayDebt | DeliverAwayDebt.com — Sun, 28 Feb 2010 11:13:42 +0000

[...] Dealing With Debt Collection [...]

By: The LeanLifeCoach

The LeanLifeCoach — Wed, 24 Feb 2010 03:42:42 +0000

@David – I am still doing some research… keep an eye out for the answer to your question.

You are right about the cost of collecting. Likely the doctor/decision maker has no idea that their employees are wasting the time for a $5 debt. The associates of course are doing what someone told them to do, process the bills. That’s what we get when we create traditional command and control business management structures.

By: David @ MBA briefs

David @ MBA briefs — Wed, 24 Feb 2010 02:02:46 +0000

I learn something new every time I visit your site, Coach. I didn’t know there was a Fair Debt Collection Act. Would you have been allowed to deal with the company you had a debt with after it went to collections or was it too late by then? When I was researching things to invest in years ago I found a government site (can’t remember which one now) that was auctioning off debts for pennies on the dollar. The money was tempting but I couldn’t see myself in the debt collection business.

I got a letter a couple of years ago from a doctor’s office threatening to send us to collections for a disputed bill where the remaining balance was less than $5 – doesn’t it cost them more than that to send something to collections? I remember thinking it cost them that much to pay someone to type up the letter and mail it.
.-= David @ MBA briefs´s last blog ..Exactly why you need a will =-.

By: The LeanLifeCoach

The LeanLifeCoach — Wed, 24 Feb 2010 00:49:40 +0000

@Evan – Great tip and you are absolutely correct. You’ve got to be able to cover yourself.

@Eric – Living within your means is definitely a key to financial success. While credit cards can be a major headache they sure make life convenient. Of course you could also just rely on a debit card if you really wanted to.

By: Eric

Eric — Tue, 23 Feb 2010 20:25:29 +0000

To add on to what Evan said, and I agree, any paperwork that one receives from a debt-collection agency should be filed and kept in a safe place. It’s a shame that things may come to this in some people’s life and I feel that credits cards are way to over-rated. To me, it is a never-ending process of pulling people further in debt. If one should have credit cards…I recommend only one. I also recommend not living beyond your own means.
.-= Eric´s last blog ..A Simple Seo Tip =-.

By: Evan

Evan — Tue, 23 Feb 2010 15:09:38 +0000

I usually get the call from a frantic family member after the collections has gone to some debt collecting garbage law firm. The only thing I would add, is never, ever throw anything you get from a law firm or even the collections company away! .-= Evan´s last blog ..Why Does Everyone Hate on Financial Planners? Defending Financial Advisors =-.