Re: Arrow has 6,631 lawsuits/IRS Lien in TX

Posted by Paul (216.127.82.99) on March 15, 2004 at 00:09:45:

In Reply to: Re: Arrow has 6,631 lawsuits/IRS Lien in TX posted by Keyser Soze on March 14, 2004 at 22:03:51:

The main reason they don’t sue relatively more often is that they don’t have the working capital to finance lawsuits. When they get money, they spend it on new accounts that are more likely to pay off more quickly than investing in long-term lawsuits that may or may not pay off for a number of years. The problem is that Asset Acceptance and a few others are becoming much more aggressive with lawsuits utilizing a longer-term strategy, and more may soon follow.

The BIG PROBLEM is that some are starting to gain access to the legitimate capital markets. Asset Acceptance is going public. Most of the agencies are still privately held and dependent on “private money” (illegal rackets like drug money, prostitution, gambling, pornography) to finance their pennies on the dollar acquisitions (and ultimately launder that money clean), but some are now starting to actually get real bank financing to purchase these accounts. Why? Because too many people are paying these extortionists, and they can finally prove to the capital markets that they have a viable business model which is to buy accounts for 2 cents on the dollar and terrorize, extort, and sue people into submission. The only way to exterminate these maggots is to starve them out by refusing to pay their tribute. The OCs never see but a few pennies on the dollar from any of these accounts.

So keep up the GREAT work encouraging people to NOT pay these vampirish leeches, because moneys paid to them just gives them that much more ammunition to attack everyone else. In short, anyone paying a collection agency is financing all the abuse we continue to read about on this board. They couldn’t continue with this abuse if people weren’t paying them for it.

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