I am a consumer lawyer in Georgia and I need some research assistance as soon as possible:
I need a macro economist who will talk to me and help me locate the statistics/numbers that describe the effect on our overall economy of
(1) the collection industry
(2) the collection of legitimate debt, and
(3) the collection of "zombie" debt, that is, debt which is uncollectible for good legal reason, e.g., the debt did not exist in the first place, the debt was paid in full, the debt was compromised and settled, the debt was discharged in bankruptcy, the debt was extinguished in a year's support petition, the statute of limitations has expired
The consumer pundits all tell you that debt collectors "cannot" sue you on zombie debt. This advice is FALSE. The collection industry buys and sells zombie debt over and over and over again, duns on such debt over and over and over again, and, in fact, SUES on such debt, over and over and over again, in hopes of obtaining a default judgment, turning a legally indefensible allegation of debt in a real, collectible judgment which provides the legitimate basis for garnishments and levies against personal and real property. If you are sued YOU MUST REACT, GET A GOOD ATTORNEY AND COUNTER-SUE, not just for the Fair Debt Collection Practices Act violations, but for fraud on the court and you; and you must find an attorney willing to sue the lawyers representing the debt collector for abusive litigation in violating their ethical rules by bringing a claim they knew or should have know by reasonable inquiry was without merit. You MUST contact the bar authorities and bring their attention to the suit and the unreasonable investigation of the allegation they conducted prior to filing it.
Just a thought experiment tells you that the numbers associated with zombie debt are much larger than the numbers associated with legitimate, fresh, collectible debt. Churning zombie debt gives debt collectors an UNLIMITED supply of claims. I suspect, but I do not know how to prove, that the zombie debt phenomenon, which came to the attention of the media some five or six years ago and has just entered the legal lexicon two years ago, may play a significant role in the so-called "subprime meltdown" and, if it did/does, if it remains an unrecognized drag on consumer confidence, tax rebates or interest rate changes will not assist in changing the direction of our economy.
I need to find a macroeconomist who can point me to strong, defensible, authoritative numbers on the subject of zombie debt. Please send me an email here on tribe if you can help.
I need a macro economist who will talk to me and help me locate the statistics/numbers that describe the effect on our overall economy of
(1) the collection industry
(2) the collection of legitimate debt, and
(3) the collection of "zombie" debt, that is, debt which is uncollectible for good legal reason, e.g., the debt did not exist in the first place, the debt was paid in full, the debt was compromised and settled, the debt was discharged in bankruptcy, the debt was extinguished in a year's support petition, the statute of limitations has expired
The consumer pundits all tell you that debt collectors "cannot" sue you on zombie debt. This advice is FALSE. The collection industry buys and sells zombie debt over and over and over again, duns on such debt over and over and over again, and, in fact, SUES on such debt, over and over and over again, in hopes of obtaining a default judgment, turning a legally indefensible allegation of debt in a real, collectible judgment which provides the legitimate basis for garnishments and levies against personal and real property. If you are sued YOU MUST REACT, GET A GOOD ATTORNEY AND COUNTER-SUE, not just for the Fair Debt Collection Practices Act violations, but for fraud on the court and you; and you must find an attorney willing to sue the lawyers representing the debt collector for abusive litigation in violating their ethical rules by bringing a claim they knew or should have know by reasonable inquiry was without merit. You MUST contact the bar authorities and bring their attention to the suit and the unreasonable investigation of the allegation they conducted prior to filing it.
Just a thought experiment tells you that the numbers associated with zombie debt are much larger than the numbers associated with legitimate, fresh, collectible debt. Churning zombie debt gives debt collectors an UNLIMITED supply of claims. I suspect, but I do not know how to prove, that the zombie debt phenomenon, which came to the attention of the media some five or six years ago and has just entered the legal lexicon two years ago, may play a significant role in the so-called "subprime meltdown" and, if it did/does, if it remains an unrecognized drag on consumer confidence, tax rebates or interest rate changes will not assist in changing the direction of our economy.
I need to find a macroeconomist who can point me to strong, defensible, authoritative numbers on the subject of zombie debt. Please send me an email here on tribe if you can help.
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