Reply #1: K&R Surprised no one has replied. [View All]

[snappyturtle]

I have been helping a dear friend who has been harassed by one of these debt monsters! From what I've been able to find out on the web is that many of these debt collectors only succeed through putting the fear of God into their harassing phone call recipients. Many can not produce the original debt records and are only working from a spread sheet. They know they have purchased bad debt that they can't verify. I ran across this website that lists the bottom of the bottom feeders and info on how to proceed with them with forms for cease and desist correspondence and debt validation letters. These ruthless collectors often collect MORE than was due originally because of their tactics. If you are in a bad place with them, may I suggest reading: http://budhibbs.com/index.html

My friend owes some money but not what a rotten collector in the state of Texas, Brachfeld & Associates, says she does. She was never late with her payment to MBNA or failed to pay, usually over the minimum. But, one day, MBNA decided she was a greater risk or at least that's what they told her. Never got clarification on that. When MBNA raised her interest rate to 28%(!) she found herself unable to keep up and the penalities and interest threw her over her credit limit and so on and so on. She tried to settle with MBNA...tried to get them to lower her interest rate to no avail. Now, she is fighting back. But, a word to the wise....learn your rights! It's all there on the linked site.

edit: wording