One of the latest news headlines I've stumbled upon in the world of debt collecting was the story of a war veteran. In essence, this disabled gentleman was verbally abused by the collector, which goes against the set of rules in that industry. Every imperative law that was put in place for these companies has been broken in this story but this is simply one story in a sea of many. Should every collections company be the subject of negative press?
I don't believe it's terribly difficult to argue that a few bad seeds manage to slip through the cracks in the debt collecting industry. After all, not every collections company will follow the rules exactly as everyone else. The rules can be disrespected and when this is done, legal action can be carried out. The collectors could potentially act out in unlawful fashions, such as claiming that the debtor will be carried if a payment is not gathered. More reputable debt organizations like Rapid Recovery will say that this is one of the many laws that should be followed.
This isn't to say that every debtor is entirely innocent, either. There are those who simply won't pay off a debt, regardless of how hefty it can become in time. For example, when I was in my college one of my friends didn't think very much about paying off the student loans that he took out in order to attend. While others were trying to find job opportunities for that fateful time, he was acting like the proverbial grasshopper, not giving much of a care about the future. These are the people who, unfortunately, bring much of the turmoil upon themselves.
The Ant and the Grasshopper is one story that I consider to be reflective of the way various college students handle the loans they're indebted with. The ant would be considered the careful student that plans ahead by finding a job, the aforementioned act gathering food for the winter to come. The grasshopper refuses to work and spends all of this time fooling around, which is similar to how some college students would ignore work. Just like the grasshopper that falls to the bitter winter, these particular men and women may not live up to the "only the strong survive" mentality.
The blame cannot be placed solely on the backs of collectors. It's not hard to see, by the many news stories floating about on the Internet, that many disregard the rules. However, the debtors hold a great deal of responsibility and they have to pay off the funds which they owe before they become too insurmountable. In the most ideal world, maybe we wouldn't have to utilize money in these ways and instead put it towards luxuries and hobbies. This is how the real world is, though, and it's a fact that cannot be ignored.
I don't believe it's terribly difficult to argue that a few bad seeds manage to slip through the cracks in the debt collecting industry. After all, not every collections company will follow the rules exactly as everyone else. The rules can be disrespected and when this is done, legal action can be carried out. The collectors could potentially act out in unlawful fashions, such as claiming that the debtor will be carried if a payment is not gathered. More reputable debt organizations like Rapid Recovery will say that this is one of the many laws that should be followed.
This isn't to say that every debtor is entirely innocent, either. There are those who simply won't pay off a debt, regardless of how hefty it can become in time. For example, when I was in my college one of my friends didn't think very much about paying off the student loans that he took out in order to attend. While others were trying to find job opportunities for that fateful time, he was acting like the proverbial grasshopper, not giving much of a care about the future. These are the people who, unfortunately, bring much of the turmoil upon themselves.
The Ant and the Grasshopper is one story that I consider to be reflective of the way various college students handle the loans they're indebted with. The ant would be considered the careful student that plans ahead by finding a job, the aforementioned act gathering food for the winter to come. The grasshopper refuses to work and spends all of this time fooling around, which is similar to how some college students would ignore work. Just like the grasshopper that falls to the bitter winter, these particular men and women may not live up to the "only the strong survive" mentality.
The blame cannot be placed solely on the backs of collectors. It's not hard to see, by the many news stories floating about on the Internet, that many disregard the rules. However, the debtors hold a great deal of responsibility and they have to pay off the funds which they owe before they become too insurmountable. In the most ideal world, maybe we wouldn't have to utilize money in these ways and instead put it towards luxuries and hobbies. This is how the real world is, though, and it's a fact that cannot be ignored.
About the Author:
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