Smart Money ran a 6 page story this month called "Penny Pinchers". They now have an article taken from that article on their website called "Who Profits Most from Debt? Debt Collectors." They also ran this same story in the Weekend Edition of the Wall Street Journal this past weekend.
The hike in debt collectors is based on the amount of overspending that consumers do. Debt collectors or business owners who try to collect the money that is owed to them are still cast in an unfavorable light which is really not fair.
Why should anyone, a business owner who has provided a service or product or the collection agency they hire, be portrayed as the bad guy? Isn't the bad guy the guy who bought your product and then bounced the check or didn't pay you?
Let me know your comment on this article.
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I'd have to agree; people trying to collect on what is rightfully theirs do get a bad rep, but I think that usually has more to do with people siding with individuals versus with companies. If you give a loan, you are entitled to get that money back; if you sell something on installment, you are entitled to those installment payments. I have no problems with that sort of setup.
Posted by: Carey | February 7, 2007 11:14 AM | Permalink to Comment