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PU Debt Collectors Are Leveraging the Court System Article Analysis Discussion

PU Debt Collectors Are Leveraging the Court System Article Analysis Discussion

Question Description

I’m working on a business discussion question and need support to help me understand better.

Directions

Read the article Debt collectors are leveraging the court system more than ever-and this may have significant consequences for Americans (Links to an external site.)

  • Was there anything in the article that surprised you?
  • As a financial counselor, what would be the most important thing you would want your clients to understand about court judgements?

Submission Requirements

Initial Post

  • 150-200 words
  • include citations if applicable

Peer Response

  • must be substantive and should be at least 100 words
    • Note that substantive peer responses must expand on the discussion and contribute to the conversation. “Good job” and “I agree” are not substantive peer responses. Examples of substantive peer responses include highlighting and expanding on a specific point, asking thoughtful questions that extend the conversation, or presenting an opposing perspective.
  • include citations if applicable

Student 1

Was there anything in the article that surprised you? As a financial counselor, what would be the most important thing you would want your clients to understand about court judgements?

I was very surprised that a debt collector could get a court order to freeze the persons accounts and all of them. This lady could not spend any of her own money because she did not know about the court judgement. I don’t know why a judge would order a freeze on all of someones accounts due to a old debt as that does not make sense. How would she be able to pay the old debt if her accounts were frozen. I guess it is a tactic that the creditors use to get her to pay it back but it is pretty evil thing to do. I would have sued the creditors back.

For court judgments it is important to let the clients know that they do need to show up to court in order to fight back against them otherwise the judgement will automatically go for the creditors to win. If there is a judgement where you have to pay then it is important to make sure that you pay it on time otherwise it could get worse. If the creditors threaten to sue and garnish your wages they don’t have the authority to do so without a court order.

Student 2

Was there anything in the article that surprised you?

I was surprised to learn that debt collection lawsuits have more than doubled in the last 20 years I figured it would be easier to do so with the advancements in technology, however for it to literally double is ridiculous. I also found it surprising that the accounts of her children where her name was also on the account were frozen as well, it seems extreme. Finally in 1993 debt collection made up about 11% of court cases and that is now up to 25% which seems ridiculously high.

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As a financial counselor, what would be the most important thing you would want your clients to understand about court judgements?

The biggest takeaway is that the debt collectors count on getting a default judgement which happens when the person doesn’t show up for court and that happens in about 70% of debt collections cases. If ever in that situation showing up is a big deal because for 70% of cases they do not.


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