I Was an Entrepreneur Masquerading as an Employee #19


I'm raising money for Broken Promises and Shattered Dreams

The Junk Debt Collection Industry is Out of Control

How did we get here?

Before I get started, take a look at this Dateline September 03, 2009 special ‘The debt collection industry is exploding’

If you can, watch the entire series of small videos. What you will learn will assist you in better understanding the industry and set you on a path to combating and regaining some control over you financial fitness.

My name it Tyrone Glover and I’m the Founder and CEO of The FEEL Center Project LLC & Financial Fitness Gym. Watch the awesome new video .

The FEEL Center Project LLC & Financial Fitness Gym is a financial education location. We provide a series of courses + workshops committed to helping individuals combat data sharing, data manipulation junk debt collection, and identity theft.

I'm committed and dedicated to helping individuals protect their sensitive financial, personal data and achieve financial wellness. With your contributions, we can reach our fundraising goal of $40,000

Tens of millions of our citizens have been hard hit by the 2008 recession. People who once had high paying jobs, the working poor and middle class are now out of work and are or have been faced with foreclosure on their homes and being sued by Junk Debt Buyers.

If you are not familiar with junk debt buyers or jdb’s, they buy debts (which a debtor for whatever reason stopped making payments) for pennies on the dollar from an original lender who written off the debt as a loss and tax deduction. The junk debt buyers then can go after the debtor for the full amount of the debt including interest, late fees, penalties, etc. due to loopholes in the laws.

If the debtor doesn’t pay, the jdb can sue the debtor for the full amount. If the jdb’s win, they can then garnish the debtor’s wages, bank account and take any assets they want including the debtor’s vehicle. Jdb’s can even get a court order to go into the debtor’s home and take all of their belonging.

Jdb’s don’t care why someone was not able to make the payment, be it job loss, sickness, the economy or whatever. Jdb’s have no concern if taking someone’s vehicle makes it impossible to go to work. Jdb’s don’t care if taking all of the money in someone’s bank account causes the family’s utilities to get shut off or if it causes a family to lose their house and become homeless…

JDB’s just want money and will do whatever it takes to get it.

The U.S. industry for private junk debt collection is on the rise. Major Banks and even the government have begun to contract junk debt collection to companies whose employees work largely on commission of payment recovered.

Outsourcing junk debt collection is good business for banks:

Between 2009 – 2011, Chase sold more than $20 billion credit card accounts to aggressive junk debt collection companies and sued tens of thousands of borrowers.

Time for the Feds to Step In: Illegal and Abusive Debt Collection Threatens to Exacerbate Racial Inequality.

He is an article that is so troubling I just had to share it. Nusrat Choudhury, Staff Attorney, ACLU Racial Justice Program 03/03/2014

In 2012, a pregnant woman in Colorado was arrested and jailed after being pulled over for a traffic violation. The reason, a debt collector went to court for a warrant for her arrest—not because she committed any crime, but because she apparently had not answered written questions in a proceeding to collect unpaid credit card debt.

Educate yourself on what’s legal, what’s not, and what you can do to protect yourself from the likes of aggressive and lawless jdb’s.

How to protect yourself from aggressive junk debt collection companies

Should a debt collection agency:

CALLS YOU AT YOU PLACE OF WORK, inform them you cannot receive personal call at work and send them a written request to stop with receipt, to document the request.

THREATENS YOU FOR PAYMENT OR FACE A LAWSUIT, do not make a payment until you check on the statute of limitation for a debt. You cannot legally be sued if the statute of limitation has passed, by making a partial payment you can re-open that statures and be sued.

SUES YOU FOR DELINQUENCY, go to court and ask for documentation, it’s usually not provided, or not worth it for a junk debt collectors to find it. Junk debt collectors buy debt is bulk and never obtain the original documentation, just account #, a name and the amount of the debt.

HARASSES YOU FOR A DEBT YOU HAVE ALREADY PAID, again ask for documentation of the debt-It likely won’t exist. Also check your state’s statute of limitation (range 2-15 yrs.) on debt collection suits; it may be past the limitation, and thus unable to be taken to court.

Currently, more than one in seven adults is being pursued by debt collectors in the U.S., for amounts averaging about $1,500.

Here is a great bit of reading about The State of Lending in America & its Impact on U.S. Households by Lisa Stifler and Leslie Parrish April 2014.

The perpetual state of fear is what’s keeping individuals confront financial concerns over and over again. Junk debt buyers and debt collectors are not people we must run from, you contact someone like me who know what they can or can’t do. Or you contact a lawyer and pay an arm and a leg for them to do something you can do yourself with proper assistance.

I did the hard past, because that’s what I like. All the research work is finished; it’s time to move to execution and conclusion.

$65.00 dollars for a two hour session, everything you need to get started directly after the conversation. Stop letting financial concerns keep you up at night.

Junk debt buyers and debt or bill collectors are bullies; we have the law on our side let's start using it.


I'm raising money for Broken Promises and Shattered Dreams