Book Review – Stick it to Sue Happy Debt Collectors
May 26th, 2010. Published under Business Scams, Fraud. No Comments.
This is a customer review written by Bob P., he asked me to not publish his last name due to the nature of the subject. With that said this is what Bob had to say about my book, “Stick it to Sue Happy Debt Collectors”. THE REVIEW Allen’s book is truly the “Holy Grail” for fighting ruthless debt collectors. Most of the examples in the book can be used as is, or slightly modified for your particular state. It will take a little work on your part, but with internet research and Allen’s guidance, your confidence and ability to fight your way out of a debt burden changes from being on the defensive, taking all the collection blows, to going on the offensive with the information you will need to win. Knowledge is power and Allen’s book is filled with the right knowledge and power. Here are some of the key points I never realized: 9 out of 10 folks never respond to suits or show up in court and as a result they automatically lose, not only the amount claimed by inflated attorney fees and expenses. Then it is a simple matter for the collection agencies to garnish your wages. Allen prepares you to fight. If you follow Allen’s instructions, it is mostly paperwork and you will probably never have to go to court. Allen describes that debt collectors often sue based on a “Suits of Accounts”, which does not require as much of a burden of proof as a “Breach of Contract”. In most states this is not the correct type of suit for credit card debt, which is generally “Breach of Contract”. Breach of Contract is much easier for you to defend yourself as it can be more difficult for the collection agency to prove. If you search for “Suits of Accounts” cases in your state, you can often find the State Attorney General or Courts have a write-up explaining why these are not proper suits for credit cards. Again, if you don’t challenge, you make it easy for the collection agencies suing you. Allen also provides the strategy you need. Once you know how the game is played, you will be more effective. Also he gives an excellent explanation of the examples he uses. Allen points out that most credit card receivables from banks are sold to a trust that is held in an Asset Backed Security. He gives the SEC reference to search out filings. His example of Capital One is brilliant. In essence, the bank/collection agency filing suit against you does not own the credit card receivable. Without documentation showing that a defaulted credit card goes back to the bank, you can challenge that the bank/collection agency is not the owner of the debt, and as such, ask for a “Motion to Dismiss”. What a stroke of genius. These are just a few of the gems I found in the book. My thanks to Allen and also thanks that he answers emails as well. To find out more about the book or to purchase visit Beat Debt Collectors (eBook and print editions available). DIRECT PURCHASE LINKS You can buy the print edition at Amazon.com ($24.95) or the eBook (PDF) edition ($19.95) at the GMP Services online store.
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Book Review – Stick it to Sue Happy Debt Collectors