Small business credit card debt relief is available through federal law to stop and defeat collection activities against you or your business. Threats of lawsuits against your business should be welcomed because most debt collection companies and their attorneys have no idea what to expect when they meet an informed business owner.
For too long, some of the largest law firms in the United States have used ignorance of federal laws related to debt collection to run over people and small businesses to illegally take their money. Lawyers show up in court with nothing more than a name, an address, and the alleged amount owed. It is extremely rare that someone fights against the system.
There are two methods commonly used to collect alleged debts from individuals or businesses. First, the dreaded debt collection phone call that is easily defeated with a simple recording device. Victims of abusive calls can easily take money from the people they call and the companies they work for. Second, the unanswered collection notice is used as a short document showing that the person or business did not bother to respond and therefore owes the debt.
This is the pathetic state of affairs facing companies in the collection industries. Knowing just a few of the simplest things can lead to the case being dismissed if it ever goes to court. And properly responding to a collection call can be worth astronomical amounts of money when presented to a jury. It all stems from believing that you should and therefore are guilty. If you have a few moments you can know the truth.
To understand the nature of credit card debt, use the search term “the gig is over: money, the Fed, and you” for a mind-blowing journey through history that will leave you in shock. This video seminar was presented at the University of Colorado School of Law.
Business card debt is easily handled by not paying the bill but choosing not to pay the bill at all, which is a constitutional legal right. It all started when the banks decided to throw money away like it was nothing, which ended with Congress debating about banning the cards altogether. Use the search term “Chicago debacle” to read about this absolutely amazing fraudulent scheme that banks came up with.
Congress countered this card scheme by writing the Fair Debt Collection Practices Act, so if you decide not to pay, you can take legal action against collectors so they end up paying you. Many business owners are aware of the Practices Act and believe that it only works for individuals, not businesses.
The Law works just as well for any business and here are a few reasons why. Many business owners co-sign card applications when their small corporations have no credit. Suppose you used a pair of corporate cards to purchase a company vehicle and registered it in the company name. It’s an easy matter to put a lien on the vehicle because your cosigner status on the card makes you the individual at the finance company.
Another reason is that a corporate entity (on paper) cannot speak, so any collection call trying to collect money from the company is answered by a live person who has rights under the Collections Act. An abusive collection call in which a collector is cursing a Corporation is indistinguishable from cursing the person the collector is talking to.
Now that you understand that there is no difference between abuse against a company or an individual, it’s time to look at what constitutes a violation. You can use the search term “FTC debt video” to see some violations. Collection calls must be recorded as legal evidence of a violation.
When responding to a collection call, it is extremely important that you do not give the collector any information other than your name and company name. Never acknowledge a debt in any way. It is up to them to legally prove that the company owes and not up to you to prove that the company does not.
Never forget that the collections industry operates just as fraudulently as the card companies. Bill collectors are nothing more than telemarketers trying to get a business to send them money. It’s easy to reverse this process and have collectors send money to the business instead.
Collection calls for individuals have a 90% breach rate according to recent studies, so you can reasonably assume business breaches are close behind. But it is an easy matter to make your violation rate 100%. Get all of the collector’s contact information and say something like the company has been waiting to hear how much you owe so they can send you a check.
You’ll hear disbelief in the collectors’ voices, as they truly believe they’ve found a willing victim. Then say something like I’m sorry Mr. Collector, the company has a list of disapproved frauds to never pay and you’re at the top of the list. Prepare for multiple violations. Playing your recordings for your supervisor will get the account marked as paid as agreed and playing it in front of a jury will turn into a windfall of cash.
Written collection notices only need to be answered with a request for proof of debt and signed by the owner or president of the business. Because collectors have no proof, they will sell your information to another collector and the whole process starts all over again with harassing calls. You will have another opportunity to make big profits when the cycle starts again. Your business could go through four or five cycles before the lowest of junk debt buyers realize they’ve been duped.
Business credit card debt relief is easily obtained through federal law and you never have to fear being attacked by the largest law firms in the US. Any attorney who is in the business of collecting a debt is, By legal definition, nothing more than a debt collector and some of the biggest collection lawsuits have been filed against them. They can’t work in the real world, so their practice is just as fraudulent as that of the card companies.