Jeff's Blog

It's Crazy! As the Economy Gets Worse, Debt Collectors Get More Desperate!

It’s crazy!  As the economy gets worse, debt collectors get more desperate.

A Boston man suffered a stroke and was out of work for 2 months.  Therefore, leaving his wife to carry most of the family’s financial burden.  As most families are often forced to do, they were living paycheck to paycheck – paying only their necessities on a Sears MasterCard.

Unfortunately, the mastercard debt went up to a $10,000 balance.  The couple did their best to pay the card.  However, when the couple only missed one payment, the interest rate skyrocketed to 29%.  This in turn contributed to the debt swelling to almost $15,000.  Making the payments rise and making it harder and harder for the couple to pay.  Eventually, the mastercard was sold off to Leading Edge, a third party debt collector.

Given today’s economy, Leading Edge’s abusive telephone calls forced the couple into a lawsuit.  It was the only way to get this company to stop.  In the complaint the couple alleges that the debt collector used profane language, threatened to seize their home and car.  The couple also alleged that Leading Edge contacted their neighbor and a relative and discussed this debt.

The couple complains that Leading Edge’s tactics drove them into emotional wrecks.  According to the wife, they work multiple jobs and try to do their best.  But when Leading Edge was asked to discuss this matter, of course, they declined to discuss the case.

Like many consumers, today, the husband (a truck drive) and the wife (a nurse) are struggling to hold onto their home and to get themselves of their current credit card debt. 

If you, like many are struggling to do your best, but are being contacted by third party debt collectors – please contact Jeff for help and information that you need to know!