A Personal Story of Debt Collection | Should I Pay Debt Collectors?

This is a personal story of debt collection, and how I’ve spent the past 3 years dealing with the debt collectors. I will be talking about what happened to trigger the bad debt, what happened when I completely ignored them,…

A Personal Story of Debt Collection | Should I Pay Debt Collectors?

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This is a personal story of debt collection, and how I’ve spent the past 3 years dealing with the debt collectors. I will be talking about what happened to trigger the bad debt, what happened when I completely ignored them, and what kind of short term and long-lasting effects it all had on my credit.

Most importantly, I will also be talking about which companies pursued court cases against me, and which ones did nothing. Make no doubt, I was quite surprised on which companies did what. So you are going to want to stick around for this video, as it’s filled with a ton of valuable information on how to handle Credit Cards, Car Leases, and other forms of debt.

NOTE: The information provided by John Ross is intended for educational use only. Please consult with a registered professional before acting on any information herein.

0:00 A Personal Story of Debt Collection
0:36 How Debt Starts, and the Inevitable Outcome
3:10 The Truth About Debt Collection
4:41 Things You Can Do, To Keep Debt Collectors at Bay
6:19 Who Sued Me, and Who Didn’t

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I was now trapped by debt, in a system that encouraged me to buy everything on credit, again and again. My first IBM 486DX2 computer at $1,450? That was simple, Credit Card. My first 1988 Pontiac Grand Am at $2500? Sure, car loan. My first apartment required a refrigerator, washing machine, and microwave totalling another $2500. Obviously, Credit. My first, second and third houses? Credit, credit, and credit.

My wife was also caught up in the same types of things. At age 27, we filed for bankruptcy, and wiped away $82,000 in debt. To this day I can’t believe how much debt we had accumulated, and by such a young age. But remember, when we moved out on our own, we didn’t even own a spatula. I had to buy my own garbage cans, a VCR, and everything else we didn’t have.

But once we filed for that bankruptcy, and were debt free, you know what we did, right? Yup, we went out, and got ourselves new debt. 7 years later, we were back filing bankruptcy again, trying to protect ourselves from all of those corrupt bank loans on multiple properties that had become toxic.

This is when the debt collectors start calling, and the letters start arriving. After a while, everyone you EVER put onto an application as a reference starts getting calls as well. This is when all that pressure starts to build, and your life feels like it’s over. Somewhere between being stupid, and being taken advantage of, we kept digging ourselves back into debt.

Capital One, Amazon, Barkley, and CreditOne all eventually took me to court through the Collection Agencies Midland, Jefferson Capital, and LVNV being the most common. It’s been over 2 years, and they are still finding odd-ball credit cards to sue me over.

Once again, I just completely ignored everything about all the debt collections or times I was sued in court. They would start with a lawyer sending a few letters, for about a year and a half. The loans were passed around to various, yet strangely the same companies.

All of the credit cards took me to court, all won judgments to garnish my wages and empty my bank accounts. However, none actually tried anything that I am aware of. Maybe it was the virus delaying them, but my bank account that has been empty for 2 years hasn’t been touched. I don’t have a regular job, so I don’t know about regular pay garnishments. So far, all of the major cards sold the debt off, and came after me. Only smaller Arrow/Mission Cards did nothing but send emails.

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