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Collection Agencies Using MySpace?

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If you have debt collectors after you, be careful who you add as friends on MySpace, they might just “friend” you daughter and post embarrassing debt / repossession notices on her profile.:eek:

James Ricobene has filed a lawsuit against JPMorgan Chase for resorting to “dirty tactics to collect the collateral on a car loan” - a 2007 Mercedes GL450 SUV. JPM, alleges Ricobene, hired a “tracing firm” to come after him. Nothing so unusual there, except, perhaps for the message that Universal Tracing Services Inc - the debt collector “tracing firm” - left on Mr Ricobene’s daughter’s MySpace wall.
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Hahahahaha that is freaking awesome. I actually have no problem with debt collectors doing this. People in debt piss me off and deserve treatment like this.
 
Pretty bullshit if you ask me. It already sucks enough to be in a hard money situation like that. I hope he wins his case.
 
Protoform-X said:
Pretty bullshit if you ask me. It already sucks enough to be in a hard money situation like that. I hope he wins his case.
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True, but a lot of people just walk away from their debts, never try to work out something with their debtors or even use many of the free credit counseling services. Walking away and never taking care of the issue isn't cool either.
 
I hope he loses the case on principle but legally the debt collection agency made a mistake. If you refuse to answer the phone or recieve letters about your debt. They can call/write bug everyone you know in order to get in contact with you. But they can't mention they are a debt collection agency or what they are trying to talk about.
 
Debt collectors should be round up, bound up, raped by stallions and shot in the back of the head.. I'm tired of getting robocalls for debts that are for people I never heard of, and even when I managed to talk to an actual human to tell them I've never heard of that person, they supposedly take a note of it.... Then two months later resume calling me.

Christ, can't they actually verify information before they wind up harassing the wrong person? I've had the same phone number for 7 years and the names aren't even remotely close to mine.


/rant
 
UrielDagda said:
Debt collectors should be round up, bound up, raped by stallions and shot in the back of the head.. I'm tired of getting robocalls for debts that are for people I never heard of, and even when I managed to talk to an actual human to tell them I've never heard of that person, they supposedly take a note of it.... Then two months later resume calling me.

Christ, can't they actually verify information before they wind up harassing the wrong person? I've had the same phone number for 7 years and the names aren't even remotely close to mine.


/rant
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nice
 
He has a 2007 Mercedes GL450. I assume they are coming after his ass after him not being able to pay for it after buying it new in '07. That's a $55-60k vehicle new. Seriously if you can't afford to keep it, then he should dump it and drive around in something that he can actually pay for. I'm with the other guys here that are pissed at people who try to live above their means, then get deep in debt, and try to dodge their responsibilities. I know a few people like that and it just absolutely pisses me off.
 
Not surprising. One of my college roommates worked at a collection agency. They spend two weeks teaching you all the rules and regulations you're supposed to follow, but as soon as you're put on the floor you're told to forget the rules and expected to collect by any means necessary.
 
Simple solution, don't buy a $70,000 car if you can't afford the payments...dumbass.
 
From the Federal Trade Commission website concerning the Fair Debt Collection Practices Act:

Can a debt collector contact anyone else about my debt?

If an attorney is representing you about the debt, the debt collector must contact the attorney, rather than you. If you don’t have an attorney, a collector may contact other people – but only to find out your address, your home phone number, and where you work. Collectors usually are prohibited from contacting third parties more than once. Other than to obtain this location information about you, a debt collector generally is not permitted to discuss your debt with anyone other than you, your spouse, or your attorney.
 
Does anyone actually know anything about this man? Maybe he was a high powered exec making $150k+ and lost his job. Suddenly he can't make payments on his $70,000 vehicle and a bunch of people think he deserves to be treated like a criminal. :confused:
 
MavericK96 said:
Not to mention he bought a 2007 Mercedes. Sounds like yet another tool trying to live beyond their means.
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Is it possible that he wasn't living beyond his means when he bought it, but something happened which now makes it beyond his means?

I don't know.. maybe he got laid off from working at one of the banks that bush bailed out?
 
Jeff said:
He has a 2007 Mercedes GL450. I assume they are coming after his ass after him not being able to pay for it after buying it new in '07. That's a $55-60k vehicle new. Seriously if you can't afford to keep it, then he should dump it and drive around in something that he can actually pay for. I'm with the other guys here that are pissed at people who try to live above their means, then get deep in debt, and try to dodge their responsibilities. I know a few people like that and it just absolutely pisses me off.
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There's also something to be said that the lenders probably should have denied his request if he couldn't afford it. It's as much the banks responsibility to do wise lending as it is the buyers responsibility to not purchase things he can't afford.

I know I can't afford to buy Aaron spellings mansion (currently for sale) and therefore I won't try to. But if I did try to, Chase Bank should LAUGH IN MY FACE.
 
denali said:
From the Federal Trade Commission website concerning the Fair Debt Collection Practices Act:

Can a debt collector contact anyone else about my debt?

If an attorney is representing you about the debt, the debt collector must contact the attorney, rather than you. If you don’t have an attorney, a collector may contact other people – but only to find out your address, your home phone number, and where you work. Collectors usually are prohibited from contacting third parties more than once. Other than to obtain this location information about you, a debt collector generally is not permitted to discuss your debt with anyone other than you, your spouse, or your attorney.
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Sounds like he's going to be able to pay off that debt after all :D

But in all seriousness he's suing JPMorgan/Chase? Don't they usually sell the debt to the debt collectors? (I mean that is part of what destroyed the banking system :D)
 
Dekoth said:
Simple solution, don't buy a $70,000 car if you can't afford the payments...dumbass.
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You assume that he could not afford it when he bought it.

I don't know if you heard about it, but some people are actually losing their jobs right now due to this thing, again, this may be news to you, called "the recession."

Apparently in times of economic downturn employers "lay people off" to "boost the "bottom line"."

I'll give the guy the benefit of the doubt here.
 
If you buy something you can afford lose your job then you lose your style of living if you didn't save up it's all that simple. All he's doing now is costing the bank money and other people trying to keep the damn vehicle. No one should feel sorry for him, if you're making more than 40k a year you can save up money if you choose to live a higher life style then fine but save up money for when the shit hits the fan.
 
DMoshington said:
Is it possible that he wasn't living beyond his means when he bought it, but something happened which now makes it beyond his means?

I don't know.. maybe he got laid off from working at one of the banks that bush bailed out?
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I don't mean to be snide, but there is something called, "responsibility." You shouldn't buy something like that without knowing full well that you can pay for it. Bad luck, well doing something stupid to lose your job over, happens to us all, but the responsible ones know how to gauge their situations as to not make irresponsible decisions like buying a car that we cannot afford.

UrielDagda said:
Debt collectors should be round up, bound up, raped by stallions and shot in the back of the head.. I'm tired of getting robocalls for debts that are for people I never heard of, and even when I managed to talk to an actual human to tell them I've never heard of that person, they supposedly take a note of it.... Then two months later resume calling me.

Christ, can't they actually verify information before they wind up harassing the wrong person? I've had the same phone number for 7 years and the names aren't even remotely close to mine
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I get the same thing except through the mail. It makes me sick that someone can just up and walk away from debt like that. There ought to be tougher laws or something.
 
So what does his daughter have anything to do with the loan? Was she a co-signer or something? Guess I missed that part.
 
ianken said:
You assume that he could not afford it when he bought it.

I don't know if you heard about it, but some people are actually losing their jobs right now due to this thing, again, this may be news to you, called "the recession."

Apparently in times of economic downturn employers "lay people off" to "boost the "bottom line"."

I'll give the guy the benefit of the doubt here.
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Sell the damn car...real simple solution. I was one of the ones laid off, the car was the first thing to go. I have been job hunting for nearly 7 months now, and guess what? I haven't had anything repossessed and my credit is still perfect because I "Got Rid of crap I couldn't afford".
 
Responsibility, living within your means is not even part of the issue here.

Just because a person defaults on their debt does not give collection agencies the right to post this type of information on a public website let alone a page that isn't even controlled by the debtor.

Makes NO difference how the dept was occurred or why it was defaulted. You may think its ok that a rich douchebag is getting some payback but what about someone that IS living within their means and having a tough time? They will be harassed in the same manor. What about mistaken debt, yes this happens.

My boss had the same first and last name of someone on the other side of the country who defaulted on their mortgage. She was treated like dirt trying to correct the issue, it took a year to finally resolve everything. Then when it was over 2 months later, they did the exact same thing reported the default on her credit report...

What if this story was about a little old lady eating cat food who was being harassed due to not being able to pay her medical bills. Would you all be so quick to say she should have sold her dentures, and/or kidney?

The tactics used in many cases are horrendous and many times as close as you can get to illegal (if not outright). There a MANY legitimate ways to collect a debt but they are seldom used in favor of harassment, threats and any other means except truely lawful ones. Its much cheaper to pay someone else in financial need $10 per hour + commission to be a douchebag collector then to use the full extent of the law to collect.

People tend to forget that the rights of United States Citizens and many of the countries laws and regulations are to protect the innocent. To ensure this, laws/regs tend to favor the innocent (til proven guilty anyone) even if it costs money or some criminals to get away. That is the price of freedom my friends.

Yes there are many things people can do to avoid getting in debt trouble, but many people for many reasons (good and bad) find themselves in trouble. Don't over-react to "get back" at the minority who abuse the system.
 
first, divulging any information about a personal debt to the public is a violation of the fair credit reporting act. As such, any firm who does so can be fined by the FTC for their violations.

Second, these tracing firms are wildly inaccurate. They are the companies who use robo-calls with false or missing names to entice people to call back. They are also the same companies who tell you your number is not in their system.

so, these companies are usually run by shady people who seem to think they are immune to the law. Even threatening them with FTC reporting doesn't even phase them.
 
hedron said:
I don't mean to be snide, but there is something called, "responsibility." You shouldn't buy something like that without knowing full well that you can pay for it. Bad luck, well doing something stupid to lose your job over, happens to us all, but the responsible ones know how to gauge their situations as to not make irresponsible decisions like buying a car that we cannot afford.
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Playing devil's advocate here : It's a 2007 model mercedes. That means he bought it in 2006. It's 2009. Let's say he lost his job in november 2008 .. that's 2 years difference between time of purchase and time of losing his job. Was he also supposed to be psychic?

If EVERYONE who EVER bought something only did it knowing they'd NEVER lose their job and NEVER have to worry about whether they can pay, we wouldn't sell 98% of the products that are sold on credit.

There would never be another house sold, as there's no way to know what's going to happen over the next 15 to 30 years. You could get leukemia and your employer (hell, your entire industry) could go under.

I have no idea if mr. ribacone (sp?) is this type of person or if he's just an elitist prick who wanted to show off his shiny toys, but there are a lot of people who were PERFECTLY able to pay all their bills in 2006 who can't even afford to feed themselves today.

Don't be so close minded.
 
A lot of people here are quick to point out his possessions without clearly understanding what his financial situation is at the current time. I'm not saying this guy is a total saint and that he somehow incurred debt that wasn't in any way his fault, but the truth is that anyone here can be put into that situation simply by being laid off and not finding another job. Just because he can afford a nice car doesn't mean he doesn't pay bills.

Point is, if anyone here was in the same situation, you would all be as quick if not quicker to hire a lawyer to fight it. The situation here is that debt collectors should do their jobs to collect debt but shouldn't subject a person to public humiliation.

How would you feel if you got behind in your debt and a memo was sent out to everyone at work?

If this guy has debt then he should pay it yes, but that doesn't give the right to a debt collector to tell everyone else of his private matters that he has to deal with.
 
Wshmaster0 said:
If this guy has debt then he should pay it yes, but that doesn't give the right to a debt collector to tell everyone else of his private matters that he has to deal with.
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And that is why the collection agency is gonna get pwn3d in court. Just because you're in financial trouble does not give the debt collectors the right to air private financial matters in public. So the bank will get its money. From the collection agency. I'd say the banks money was well spent hiring them.
 
Well the issue here is fair debt collection practices. They shouldn't have done it in the way they did.. They broke the law.

But the guy really should turn the car in, come up with the money to pay for it, or live with the fact the repo man is eventually going to find him and take the car back.. What he's done isn't right either.
 
Well the issue here is fair debt collection practices. They shouldn't have done it in the way they did.. They broke the law.

But the guy really should turn the car in, come up with the money to pay for it, or live with the fact the repo man is eventually going to find him and take the car back.. What he's done isn't right either.
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YES!

Both parties are in the wrong here.
 
DMoshington said:
Wouldn't debt collectors only be coming after people who don't pay their debts?
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heatlesssun was refer to the fact that amdhunter stated he hated people in debt. Which is very much different from not paying your debt. If you have a house payment or car payment or student loans... then you are in debt. There is nothing wrong with actually having debt (most people have debt), the problem is when you don't pay it.

DMoshington said:
Is it possible that he wasn't living beyond his means when he bought it, but something happened which now makes it beyond his means?

I don't know.. maybe he got laid off from working at one of the banks that bush bailed out?
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Like people said if that is the case then he should have sold the car and bought a cheaper one. Or he should have turned it over to the bank when he was no longer able to make the payments.

ShagnWagn said:
So what does his daughter have anything to do with the loan? Was she a co-signer or something? Guess I missed that part.
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Nothing, they were using her to find her dad.
 
DMoshington said:
There's also something to be said that the lenders probably should have denied his request if he couldn't afford it. It's as much the banks responsibility to do wise lending as it is the buyers responsibility to not purchase things he can't afford.

I know I can't afford to buy Aaron spellings mansion (currently for sale) and therefore I won't try to. But if I did try to, Chase Bank should LAUGH IN MY FACE.
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You, sir, obviously don't know where you are. This is AMERCUH, where it is never the corporation's fault. Predatory lending isn't an unethical practice, it's the fault of those stupid lazy filthy poor people for not having the savvy to realize that banks thrive off of lending them money they can't possibly pay back, collecting interest while they can, and then getting their entire initial investment (and possibly more!) back when they repo the asset and sell it off.

Well, throve (Is there even a past-tense of thrive?). It was working real good when the housing market was being retarded and skyrocketing without end, and their repo'd houses were worth more than when they were originally sold. Then the bubble burst, and all that predatory lending came back to bite them in the ass :p








(Disclaimer: Yes, it is also the fault of the person taking out the loan for going beyond their means. There is simply more than just that one side of the blame.)
 
Easy way to avoid crap like this. Dont deal in debt. When you lay with snakes, you are going to eventually be bit.

Then again, Our entire country cant seem to get it through enough heads to not spend more than you make...
 
Renegade_Azzy said:
Easy way to avoid crap like this. Dont deal in debt. When you lay with snakes, you are going to eventually be bit.

Then again, Our entire country cant seem to get it through enough heads to not spend more than you make...
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The RESPONSIBLE use of credit is critical for most people in attaining material prosperity. Plenty of people have used debt to finance businesses, homes, and educations and come out on top by a mile. Plus good debt is a good investment. Used properly debt is a win win for the creditor and the debtor.

People are letting the current financial crisis blind them to centuries of the successful use of credit. Like any tool, it can be misused and abused and make a situation worse.

Using debt to finance things like vacations, depreciable items, day to day expenses, things of those nature is far less effective because in the end you've only made the cost of those items more expensive and they offer no return on investment.
 
Blah Blah Blah....he shouldn't buy a car he can't afford. Blah Blah Blah...he should have saved up money for when times are hard....Blah Blah Blah.......

I find it very amusing that the people here, without knowledge of this guy, can pass such judgement about him.

For all you know he lost his job, has serious medical problems that depleated his savings and now can't afford a car that he used to be able to afford.

Sometimes things happen in life that depleat your savings and leave you neck deep in shit.

Otherwise we can be like everyone apparently is here, $1mil in savings, no debt and health insurance that will never go away.
 
Oh yeah, having debt is actually a GOOD thing. It shows payment history and account stability = higher credit score. So long as you consistantly make payments.
 
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