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What does it mean to be "hounded" by collection agencies? I've allowed some of my debts to go unpaid because I considered repayment to be a poor deal. Yes, I've

What does it mean to be "hounded" by collection agencies? I've allowed some of my debts to go unpaid because I considered repayment to be a poor deal. Yes, I've received phone calls, which I answered and calmly informed the caller that (a) the conversation was being recorded; and (b) this was the last time they called me because I was invoking the FDCPA. I've never had to repeat this more than twice. Yes, I've received things in the mail, which I simply threw into paper recycling. Eventually, these stopped as well. A debt collector has yet to physically come to my home, however, having grown up in 1990s Russia, I'm prepared to take care of them in a swift, permanent, and legal way.

beaconstudios 8y ago
> I've allowed some of my debts to go unpaid because I considered repayment to be a poor deal. Could you elaborate on this? I don't know if it's what you intended but it just comes off like you defrauded a company.
- vkou 8y ago
  If defaulting on a debt is fraud, then why do lenders charge a premium for credit risk? They do it because, in most cases, it is not fraud - defaults are just a fact of business. Being a lender is not a ticket to free, zero-risk money. Both parties in a lender/borrower transaction understand that there is a risk of default, as well as consequences for a default. In a secured loan, the borrower loses the secured item. In an unsecured loan, more of the risk falls to the lender (which is why unsecured loans have much higher interest rates.)
  - beaconstudios 8y ago
    of course, but my interpretation of OP's comment was that they went into a purchase with the intent of defaulting. To me, that's fraudulent - IANAL but that would seem to be legally fraud too. It's really no different from chargeback scams.
    - spacehome 8y ago
      It's only fraud if you take out the loan with the intention of not repaying it. sigfubar never says when he came to the conclusion that repaying the loan is a bad idea. If it's any point after he took out the loan, it's not fraud.
sizzle 8y ago
You would really shoot them if they just rang your doorbell? Or do they try to enter your home and arrest you? Why such drastic measures?

beaconstudios 8y ago

> I've allowed some of my debts to go unpaid because I considered repayment to be a poor deal. Could you elaborate on this? I don't know if it's what you intended but it just comes off like you defrauded a company.

vkou 8y ago
If defaulting on a debt is fraud, then why do lenders charge a premium for credit risk? They do it because, in most cases, it is not fraud - defaults are just a fact of business. Being a lender is not a ticket to free, zero-risk money. Both parties in a lender/borrower transaction understand that there is a risk of default, as well as consequences for a default. In a secured loan, the borrower loses the secured item. In an unsecured loan, more of the risk falls to the lender (which is why unsecured loans have much higher interest rates.)
- beaconstudios 8y ago
  of course, but my interpretation of OP's comment was that they went into a purchase with the intent of defaulting. To me, that's fraudulent - IANAL but that would seem to be legally fraud too. It's really no different from chargeback scams.
  - spacehome 8y ago
    It's only fraud if you take out the loan with the intention of not repaying it. sigfubar never says when he came to the conclusion that repaying the loan is a bad idea. If it's any point after he took out the loan, it's not fraud.

sizzle 8y ago

You would really shoot them if they just rang your doorbell? Or do they try to enter your home and arrest you? Why such drastic measures?