Irish Gang Starts “Bill Collection Agency”
And you thought your bill collections agency was bad enough. It has been recently disclosed that a gang boss in Ireland has made a new career move – debt collection. This criminal genius has been linked to twelve murders; a threat even more serious than a collections letter.
Commonly, legit creditors who aren’t thugs will employ third party collection companies to retrieve debts. Bill collectors work on commission, where they receive a share of the profit from the amount of money that they collect. Generally collection agencies will buy debt from the creditors in order to collect the entire sum of money owed.
It appears that the Irish hoodlums have borrowed inspiration from this practice, but the likenesses end there. The head of the notorious gang has made his own collection agency, buying debt and using his reputation to bully his way into gathering the money owed. The unfortunate debtors are drug users who are unable to repay dealers.
Reputable collection agencies will usually start with a gentle “reminder letter.” If the debtor is antagonistic or evasive, the letters will become more serious. Telephone calls will be used as well as a reminder to those who owe money to pay up. If these ploys fail, the company has the right to report a debt to credit bureaus, or file a lawsuit.
Conversely, the Irish gangland collection agency will use its reputation as a group of ruthless murderers and criminals to intimidate debtors into paying back drug money. Fortunately, the head of this operation has been arrested, and the Justice Minister of Ireland has vowed to do everything in his power to ensure that the accused will be brought to justice.
So next time you get a telephone call from a bill collection company, try to keep things in perspective. And if you are ever in Ireland, it is probably not a good idea to take out a loan with a heartless gang.
Mallory McGuinness-Hickey is employed by bill collection company Rapid Recovery Solution and writes free lance articles on business news. Click here to get your own unique version of this article with free reprint rights.
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