Re: Yes, but how much was YOUR debt?

Posted by observer (205.188.209.144) on February 27, 2004 at 12:05:35:

In Reply to: Yes, but how much was YOUR debt? posted by Bill on February 27, 2004 at 11:04:05:

Keep in mind, a lawsuit drives up the cost of collection. It'll cost a ca a couple of grand just to defend. Here's a snippet from a ca complaining about legal fees.

Thursday 02/26/04 7:48 AM

I am not even talking about it getting that far. I am talking about people just threatening suit. Debtors whom I speak to usually find some attorney on-line – giving them general info- “if you have been contacted by a collection agency, your rights have been violated; they owe you $1000’s of dollars”. There have been times where I fought back and had the cases tossed because there was no merit, but that still cost me $3K, not to mention all the travel costs. The plaintiffs did not even show up. All this over some small balances. There needs to be away to pre-qualify or arbitrate prior to court with out having such a large expense. This is not unique to our industry. Every small business is being attacked, because they can not foresee every possible scenario, thus negligent.

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