Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

debt collection companies.

Why do companies buy debts from other companies, thinking or saying,or what ever that they should use them because they can get the debt collected. I mean you can't get money from someone who doesn't have it. Basically all there doing is calling and either being rude, mean, hateful, or trying to bully the customer into paying. When probably more times that not, the customer would like to take care of the debt thaey just don't have the money too. And the company never wants to make arrangements that the customer can keep.So they end up making the customer mad and defensful and causing them to ignore them in the future. I just don't see there reasoning for. They are buying a debt that is probably mostly interest and penalties thinking it will get paid. If the customer coudln't pay there $500.00 cc balance i don't see that they are going to pay what is now a $1500.00 because of fees like the company wants.

Answer Question
 
Anonymous

Asked by Anonymous at 11:54 AM on May. 21, 2009 in Money & Work

Answers (2)
  • Call your members of congress and ask them why they allowed this to be legal. Once upon a time, before Ronald Reagan, we had usary laws.
    rkoloms

    Answer by rkoloms at 2:05 PM on May. 21, 2009

  • They buy the debts at pennies on the dollar. If they can get one out of every ten people to pay, they've made a profit. But the only way to get people to pay i to harass them. Bottom line is- it's good money. I couldn't handle being mean to people like that, but this is their job, they do it well, and they make a nice profit from it.
    Erica_Smerica

    Answer by Erica_Smerica at 2:44 PM on May. 21, 2009

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.
close Cafemom Join now to connect to other members! Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN