One of the more entertaining aspects of being the senior editor here at Blogger News Network are the emails I receive. Interestingly enough they are not mostly centered on Viagra or penile enlargement, those seem to get happily get put in the automatic ‘bit bucket’. About a month ago I started to get interesting emails about heavy equipment for sale in the Far East. Even though the prices were quite reasonable, I have not bought anything. I have a sneaking hunch that my wife would have a few things to say if she wakes up one morning and finds a crane, bulldozer, or other large earth mover in the back yard.The recent financial meltdown has at least one sector of the service industry busy, the sleazy world of collections. Oh this has nothing to do with paying the primary lender. It is what happens when you fail to make some payments. Obviously this varies, but if you do not pay a bill for a certain amount of time the company writes the account off. The cost of pursuing the loan far out weighs the amount owed. The solution is to sell this ‘bad paper’ for cents on the dollar. You owe a dollar, and some sleazy company picks it up for 10 cents. Oh and hounds you to the ends of the earth.

In today’s world of outsourcing some of this activity actually happens from places as far as India. They are outside of the US, and apparently US laws do not apply, the tactics can be quite inventive. This is a situation that Obama should fix.

For the past couple of weeks I have been receiving unsolicited emails from an organization geared solely for the collection of that 10 cents on the dollar. While I think that everyone should have a chance to make good what they have promised. I am horrified by the actions of most companies. AIG has just used millions of dollars to fleece the bank accounts of all of the obvious idiots that got us into this problem. CNN used the term ‘The Nobel prize for evil”.

Even though it is companies like AIG that have created the problems, and even been rewarded for their endeavors, it is the little guy that must pay. Million dollar plus bonuses are being sent out to their clearly poorly performing executives, yet it is the little guy that is getting those nasty phone calls at dinner time.

It was a while ago that I had a go around with two particularly insidious organizations Xentel, and Astra , although registered in the US, Astra do their collections from a call center in India! Now that’s what I call outsourcing! Xentel seem to operate out of Canada, and at the time I did not think the story worthy of inclusion here on BNN, but you can read the gory details here.

As I mentioned earlier, the collection business is booming. As the rest of us tighten our belts, and the AIG fat cats spend their completely inappropriate bonus money, many average Americans are scared to pick the phone up when it rings. These organizations love to hide behind anonymity. (If you need the phone numbers let me know)!

As I mentioned earlier for the past little while I have been receiving some curious emails. They are not aimed at me, I have just got on a very strange mailing list. I do not agree with any of these companies, so I am disclosing their web addresses. As best I can tell they are interrelated, although I have not spent much time on the project there is a clear link. The sites are:

http://www.claimforwarders.com/
http://www.casetrackerlaw.com/
http://www.iplawusa.com/

When the financial world goes upside down, who wins? Only the stinking banks. Don’t let the predators scare you. If AIG can get $billions, why not the little guy? We just didn’t have the right lobbyists in DC? Oh, we didn’t have the $millions in ‘bribes’ for the stinking politicians that are entertained by the sleazy lobbyists?

Most of these collection organizations love anonymity. So lets change that. lets put the fire to their feet. Either stick a comment with your information on this article, or drop me a line in email (just click in the big black box on the right hand side of the page).
Simon Barrett

http://zzsimonb.blogspot.com

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