If you have Debt Recoveries chasing you for debt, then an old debt of yours has been purchased. Typically, they will purchase in bulk debts from creditors, who have tried and failed to get consumers to repay credit cards, loans etc They buy for around 10% and add huge amounts of interest on top.
However, Debt Recoveries are now adding to their usual strategies of chasing consumers for unpaid debt. Although letters,emails and calls to work will be used, they now are targeting social media. If you have LinkedIN, Instagram, Facebook, or even Snapchat, they will find it. If you have any photo tagged with friends, a current friend list showing, photos of a work lunch, then an employee of the debt collection agency will use this to track your colleagues and friends down, for the sole purpose of embarrassing you into paying.
Debt Recoveries chasing you for debt, do this
I beat a Debt Recoveries 5 years ago on a very large debt they said I owed. I spent 12months of researching commonwealth consumer protection laws, ACCC and ASIC guidelines, I decided to challenge them on 23 key points. Now I started this website to help people feeling trapped and bullied with nowhere to turn. I will gladly help you beat them too, send me an email using the ‘Contact Us‘ form on the right hand side of this page, tell me your situation and Ill help as many people as I can, or simply Click Here
New technology coming onstream is boosting capabilies to claw back cash from wayward debtors. Technology could, for example, sift through large volumes of data, to indicate the most effective times for contacting people who owed money. It can also indicate the most effective medium – such as text, phone or email – for contacting different debtors.
Delete and Dispute any Defaults on your Credit File with this Free trick!
One unfortunate factor with being in debt, is that Debt Recoveries will put a default on your credit file, which will stop you being able to get any credit. So one tactic I would suggest, is to access for free your credit file and have a look for any defaults (tactic can be used for any defaults you have) and if there is, then click dispute next to all of them. I have found many times, companies put defaults on your file much earlier than they legally should, so you can clear your file/improve your credit score today. The free one I used was this one