Comments on: Collection Agencies Giving Away HDTVs and iPods If You Pay Up

By: Judy

Judy — Thu, 17 Jun 2010 21:52:54 +0000

There is NO WAY THIS IS A GOOD IDEA! Once the gift is received, what would be the incentive to keep paying? A Judgment?

By: Mike

Mike — Thu, 17 Jun 2010 21:45:14 +0000

Wow, this is unbelievable! Is it actually working?

Great.

By: ParisGirl111

ParisGirl111 — Wed, 10 Feb 2010 20:24:13 +0000

Wow, that is crazy. The collection agencies are moving from scare and threat tactics to rewards programs. Amazing! Yet, it works.

By: PaydayLoner

PaydayLoner — Mon, 08 Feb 2010 23:00:46 +0000

This really does sound like a way to pull people out of the woodwork to acknowledge a debt and start making payments, to get the statute of limitations reset again. I wonder what the fine print is? In other words, how much do you have to pay before you receive the gift? If you have to pay back more than the value of the gift before you get it, the company might be “selling” the gift at a profit, and then figuring that resetting the statute of limitations on the loan adds value on top of that. I wonder if the loan would be worth enough at that point for them to sell it? Might be a way for them to make a few bucks from a drop-shipper and turn a loan worth almost nothing into a little something besides.

By: MrsB

MrsB — Fri, 05 Feb 2010 23:31:07 +0000

Being offered reductions in accrued interest, a 50/50 split of the balance, principal only offers are for a reason. Most debts have a “statute of limitations” say 6 years, on which collection efforts may be made. If you didn’t make any payments on your account, it would expire in 6 years and collection agencies are no longer allowed to collect the debt. That is assuming that you have not been served and there is now a Judgment in your name. Debts are good for 10 years and renewable for another 10, assuming the person holding the debt now, is smart enough to remember to renew the account. Otherwise, all bets are off. If you make any payments, at all, even .05 then the account starts over on the statute of limitations and another 6 years of debt collection can begin. So, if you are close to 6 years, expect all kinds of great offers in the mail but don’t get caught up in reapplying for more credit. Prepaid Visa cards are a better alternative and everyone can get them at the grocery store.

By: news @ making money quick money » Be Vigilant of Car Recalls: Lessons For Car Owners

Thu, 04 Feb 2010 10:20:07 +0000

[...] Gen X Finance: Collection Agencies Giving Away HDTVs and iPods If You Pay Up [...]

By: Goran Web | Net Age

Goran Web | Net Age — Thu, 04 Feb 2010 09:46:12 +0000

Good grief! It is rather ironic when collection agencioes are giving away incentives for good payment! It is a sad reflection on the current state of the economy!

By: Best of Personal Finance Roundup: America’s Biggest Rip-offs- Financial Eyes & Ears

Wed, 03 Feb 2010 19:19:49 +0000

[...] Collection Agencies Giving Away HDTV’s and iPods if You Pay Up — Can this be for real? Apparently so. As if clearing your conscience and getting debt collectors off your back isn’t enough, some now have a rewards catalog to choose a free gift with payment! Generation X Finance [...]

By: graphic art

graphic art — Wed, 03 Feb 2010 11:37:07 +0000

you should get the black one because when you get the white, the white colour causes the image to run, making it harder to see. The colour runs at the edges.

By: Joe

Joe — Mon, 01 Feb 2010 22:14:45 +0000

What, no iPad?