As I See It: Misera Plebs Contribuens

Greetings, misera plebs contribuens! It's what the Hungarian people started calling themselves after King Andreas II exempted the nobility from taxation--an immunity which, like one, long, baronial happy meal, lasted from the 13th to the 19th century. It means "miserable tax-paying people," and if you've already prepared this year's return, you probably feel like one.

Sucker.

One third and perhaps as many as one half of eligible tax filers either cheat on their returns or don't file a return at all. And their numbers, like springtime pollen counts, are exploding. In 1985, there were 3.4 million nonfilers. Just two years later, that number jumped to 4.2 million. By 1991, 6.5 million were dissing the Internal Revenue Service and 74,000 of them had incomes greater than $100,000. There was even a multi-gillionaire who owned art galleries and penthouses in New York, a chateau in France, a residence in Switzerland, and a ranch in Kenya several times as large as Manhattan who never filed a return--a small oversight discovered during divorce proceedings. This disheartening information comes from Donald Bartlett and James Steele, a dying breed of investigative reporters who several years ago wrote a dispiriting (if you're honest), or instructive (if you're not), tome called The Great American Tax Dodge.

How may people escape paying taxes today? No one knows for certain because the IRS enforcement budget has been slashed by Congress, but conservative estimates place it at over 30 million. The amount it costs the treasury can be measured in the hundreds of billions of dollars each year, which those of us who do pay taxes are obliged to make up. And, if you're looking dejectedly at the amount of taxes withheld on your pay stub, this next bit of information is not likely to cheer you.

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The excellent Way to Collect Business debt online

You need to collect the debt before the unfortunate situation arises. It is a nice opportunity to get a best collection agency that will take care of your debt without losing your prospective customers. To make this happens - you should be sure about the functions and the need of collection agencies. Choosing a right collection agency will helps you out from all your debt and relieve you for core concentration that is needed for your business not the outstanding debts.

You need an agency that will work for you and carry out your requirements. Here are a small number of questions to keep in your mind when looking for a collection agency.

These questions help you in selecting the best collection services in real time.

1. How much and what kind of experience does the collection agencies should have?

2. Should they have the necessary experience in your field?

3. Would they have the knowledge of collection jargons?

4. How they make connections or contacts with specified client?

5. Do they have the ability to work with the kind of sum you need to collect?

6. Try to get references from another organization in your field, which has used this agency?

Is this a professional collection organization?

This collection agency is going to be representing you in real time. It is very important that their services would reflect the values of your organization. Bad conduct with client could decline your business as well as your reputation in the market.

You mean it by understanding the laws rules and regulations of state fair debt collection. Agency should have good knowledge of the resources available to them in community. Formal written communication to deal with clients and skip tracing is utilized by most of the companies.

How they make connections or contacts with specified client?

Do they know local laws and have access to the kind of information. Collection agency will need to connect with your client as their prospective customer not like a debtor.

Hire those collection agencies that follow the fair debt collection laws.

Don’t forget if you hire a company, who used illegal collection and absurd communication then – any laws that is break or bad practices they engage in will reflect on you means negative business graph.

Does your collection agency understand your wishes and expectations?

A collection recovery services agency knows the importance of your hard-earned money and your business outcomes. One who understand and give value to your expectations and wishes would be your nice collection partner. Key to a good outcome in the collection services is propensity to achieve something. Choose no work no money partner. Hiring this kind of agency you will benefitted on both fronts.

Whether the collection agency offers advice and consultation to its clients:

Only debt collection is not the theme but providing tips to avoid bad customers in the future and give suggestions how to handle these types of customers in real time. When your company really needs money for its core purpose – The best collection services are needed. Through their thorough collection information, you can have a wealth of information and assistance through debt recovery agencies.

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The Pros & Cons Of Using Collection Agencies

Debt collection agencies act on behalf of creditors to collect on severely overdue accounts. Reputable agencies work within specific guidelines and adhere to the legal framework set down in Fair Debt Collection Practices Act, the federal law that regulates all collection agencies.

There are several advantages in using these agencies -

• they remove the hassle of pursuing debts from your company, saving you time and money;
• third party involvement in debt collection has proven time and again to improve your chances of recovering your money; these people are specialists in negotiating with debtors and the results usually speak for themselves
• potentially a skillfully negotiated debt collection could mean continued future custom from the debtor;
• debt collection agencies can combine sales ledger management and debt collection;
• debt collectors keep you within the law...

The disadvantages are -

• debt collection does cost money; you are trading off the debt collection against any charges made by the collection agency and/or a percentage of the money collected (although there are lower cost, flat fee alternatives);
• the debt collection agency will be establishing a relationship with your customers which could be potentially harmful if they sour that relationship by not dealing with invoices in a courteous and diplomatic fashion...

Finally, remember to select a collection agency with a good reputation. Don't just shop for the best price. Remember- less reputable agencies can damage your own reputation as well as your wallet.
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Debt-Collection Bill Could Reduce Deficit

Serious concerns are raised in your Feb. 23 front-page article on the Federal Government's mushrooming loan liabilities and the shortage of workers to oversee the loans.

In 1995, I conducted a study that showed that a small percentage of individuals, businesses and organizations owe the Government about $55 billion in delinquent nontax receivables. From 1994 to 1995, when cumulative delinquent debt rose 15 percent, nontax debt collections decreased by 14.5 percent.

Examples of nontax debt include farm loans, defaulted housing loans and oil pollution cost fees. Many delinquent debtors are able to pay but do not because of lax collection efforts.

The report disclosed a hodgepodge of collection methods and procedures that hinder the Government's ability to collect or to make good loans.

I have worked with the Treasury Department and the Republican chairman of the subcommittee on government reform, Stephen Horn, to draft legislation that would enhance debt collection efforts by helping agencies share information, standardize and centralize debt-management functions within the Treasury Department and strengthen debt-collection regulations.

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Debt Collection Done From India Appeals to U.S. Agencies

GURGAON, India — In a glass tower on the outskirts of New Delhi, dozens of young Indians are on the telephone, calling America’s out of work, forgetful and debt-stricken and asking for cash.

The Encore Capital Group, a debt collection company based in San Diego, has pep talks for workers at its call center in India.

“Are you sure that’s all you can afford?” one operator in a row of cubicles asks politely. “Well, how do you take care of your everyday expenses?” presses another.

Americans are used to receiving calls from India for insurance claims and credit card sales. But debt collection represents a growing business for outsourcing companies, especially as the American economy slows and its consumers struggle to pay for their purchases.

Armed with a sophisticated automated system that dials tens of thousands of Americans every hour, and puts confidential information like Social Security numbers, addresses and credit history at operators’ fingertips, this new breed of collectors is chasing down late car payments, overdue credit card debt and lapsed installment loans. Debt collectors in India often cost about one-quarter the price of their American counterparts, and are often better at the job, debt collection company executives say.

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Debt collection by agencies almost doubles

They write you letters. They call you at home and send text messages. Occasionally, they’ll even knock on your door. And they’re almost never, ever welcome.

They’re professional debt collectors, the agencies employed by a gamut of companies, from mobile phone telecoms to credit card providers, to track down delinquent customers and extract payment. It’s grueling, unpopular work — and it’s growing.

Last year the number of consumer debt collection cases passed to agencies almost doubled, according to recent survey results released by the Association of Collection Agencies (AIA), which represents the country’s largest debt collectors.

The past few years have seen a surge in consumer loans, which has led to a rapid increase in household debt. It’s then natural that, as debt increases, more people slip in their payments, said Radek Laštovička, the managing director of the collection firm Coface.“Simultaneously, the providers of these loans … have developed more efficient collection procedures, which more often include outsourcing collection to specialized agencies,” he said.

Collection agencies are a relatively new phenomenon in the country and the practices they use can sometimes traipse the limits of legality, according to Michal Kebort, a financial specialist from the Czech Consumers Defense Association.“They’re usually very successful in moving on the border of the law and good morals,” he said. “

We’ve found no occurrence of explicitly unlawful procedures. Mostly they use questionable procedures.“What’s on the verge of acceptability is that debtors’ relatives or close friends are frequently contacted [by the agency].

Here I would ask where the agency got this information and whether the Act on Personal Data Protection has been breached.”Once debts are in the hands of an agency, the first step is to seek an out-of-court settlement, said Arne Kejdana, spokesman for Profi Credit.“

We try to get in touch with the debtor.

We make calls, send letters and try to propose some kind of agreement,” he said.Coface begins with mail and phone reminders and then will sometimes add SMS reminders, Laštovička said, adding that “personal visits are used to verify the contact address and, sometimes, to personally deliver written reminders.”The prime sources for debt cases passed to collection agencies are non banking personal loan providers, banks issuing credit cards, telecoms and utilities, according to Coface.

Most debt cases stem from administrative issues or short-term cash problems and can be solved simply through regular communication. Every so often, however, you will find that “some debtors are notorious liars and [our staff] should be able to recognize that,” Laštovička said.

Debts to grow

Even with last year’s increase, the number of collection cases remains low compared with Western Europe, largely because household debt has room to increase further. “Household debt is still far below West European standards,” Laštovička said.

“We’re probably just at the start of the expansion of the consumer debt collection industry in the Czech Republic.”

The ratio of Czech household debt to gross domestic product increased by seven percentage points to 29 percent in 2007, according to the Czech National Bank (ČNB). However, this is well below the ratio in the eurozone, which is 61 percent. By the end of March, household debt totaled 756.14 billion Kč ($47.4 billion), an amount that could well top 900 billion Kč by year’s end, according to GE Money Bank.

While growth in mortgages, which constitute a significant portion of household debt, slowed in the first few months of this year, consumer loans accelerated in the first quarter, according to the ČNB.

Some banks reported double-digit increases in demand for these loans, which are more likely to eventually end up in the hands of collection agencies.
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