Friday, April 26, 2013

Debt Collector $8.97

Debt Collector $8.97, Small debt forces collector out to do his job. There is doing your job, and then there is doing your job. MSN Money revealed on April 26, 2013, that has recently had to deal with a question from a concerned citizen. That person was wondering that if the debt collector coming after their $8.97 debt will end up hurting their credit.

Yes, an $8.97 debt.

The email went like so:

Today I received a letter in the mail from a collection agency stating that a DVD I rented from Family Video (probably 5 years ago) has gone to collections. The total that I owe is $8.97. Am I going to get a bad credit score for an unpaid bill of $8.97?! Help would be greatly appreciated.

-- Jillian

Now, that is a totally legitimate question and one that would make anyone wonder. Jillian would certainly hate to have her credit affected by any kind of debt, and especially by one as small as $8.97.

It isn't as common today, but these low dollar transaction debt collections were big news many years ago. At that time, people got debt collectors on them for old library fines and other such small amounts. With the debt collection industry becoming so profitable, it isn't surprising that they're trying it again. tried to help Jillian out and give her the best advice possible. They wanted her to know that a debt collector coming after $8.97 could indeed hurt your credit, and it's actually as damaging as a debt of thousands of dollars or more.

There are exceptions and ways to fix the situation, and can help Jillian and anyone else out with that.

Debt Collector $8.97 Rating: 4.5 Diposkan Oleh: Unknown


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