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Feel-good debt-related story worth telling, with a caveat

On Behalf of | Aug 28, 2015 | Debt Relief

If you are a South Florida resident who is currently struggling with onerously high debt obligations, you’re understandably looking for options to pare down those exactions and regain financial traction.

In doing so, you likely know that your chance of striking a really good deal with any collection agency that is hounding you for repayment is probably a remote possibility, at best.

Those entities are not widely known for being particularly accommodating or genial. In fact, and as has been proven to be the case for high numbers of debtors across the country for many years, debt collection agencies can be — and quite often are — brazenly aggressive in their collection strategies, with their behaviors being centrally marked by harassing conduct and even illegal tactics.

It is certainly refreshing to see a story about socially conscious actors within the debt collection industry who are motivated to help debtors rather than contribute materially to their stress and undermine their possibilities for any fresh financial start.

A tale that has sparked some interest in the national press recently recounts the efforts of two ex-collectors who have founded a nonprofit group that buys debt from original creditors at a reduced rate and then abolishes it, eliminating any further repayment duties for affected debtors.

In this day and age, that is unquestionably a feel-good story.

Candidly, though, it bears noting that the tale is singular, with the recipients of debt forgiveness marking an infinitesimally small group within the vast demographic of debtors in Florida and nationwide who have compellingly difficult financial situations.

In most instances, of course, improving one’s financial picture through alleviating crushing debt levels is not achieved by waiting for the phone to ring and being happily relieved of problems by a third-party benefactor.

Rather, purposeful action employing sound legal and financial strategies is far more conducive for tackling debt and restoring solvency. A proven debt-relief attorney with a deep well of experience helping persons with serious financial problems can answer questions and help a client formulate a sound plan for regaining firm financial footing.

Source: Yes! Magazine, “These former debt collectors decided to ditch the industry, buy up medical debt, and forgive it,” Araz Hachadourian, Aug. 17, 2015


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