Re: Hayt, Hayt & Landau
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Paul
(216.127.82.99) on May 14, 2004 at 21:42:31:
In Reply to: Hayt, Hayt & Landau posted by Lyfsabeach on May 14, 2004 at 17:05:07:
It’s a collection agency first, collection attorneys second. They do sue in Florida, but Midland Credit Management is a 2 cents on the dollar debt buyer and is unlikely to sue. If they do, then realize that FCNB had to shutter their credit cards by the FDIC because their credit losses were through the roof, and any company mismanaged as badly as they would just as likely as not have any records necessary to provide to MCM to prevail in any lawsuit. I enjoyed this quote from Hayt’s boss in Florida. “Florida is a hard state for creditors. Our success comes from letting debtors know that we’re trying to work with them and not against them. For example, when we file a lawsuit and serve a debtor with a complaint, we include a settlement agreement with the complaint. Contained in that agreement, is a waiver of their garnishment defenses. So, while we’re giving them the opportunity to straighten out their financial obligations, we make it clear that we are very serious about collecting. This technique has proven to turn uncollectible files into positive cash flow for our clients.” What was that? They’re proud that they get folks to “waive” their rights so they can turn “uncollectible” accounts into “positive cash flow” for their clients? Don’t be positive cash flow for their 2 cents on the dollar clients. Ignore them.
Follow Ups:
Post a Followup
|
