No, the Al Qaeda hasn’t branched out into collections, it’s a the label invented and applied to collectors of all types by an unintentionally humorous paralegal who is trying to pedal debt avoidance, lawsuits and pro-se bankruptcy for his own advantage.
Demonizing the opposition in any facet of the human experience is a natural occurrence and well in use to this day despite the adolescent and irrational nature of the practice. While it’s not at all beyond understanding why someone would go to such theatrics to tout their own services, it does illustrate an indelible rising impression of public opinion.
There is no question that there have been some well publicized instances of collectors going far beyond FDCPA violations. Not one credible professional in the collections industry would condone the activities of these persons or agencies and we would gladly line up to throw the first stone if given the opportunity. All legitimate and reputable collection agencies, repossession companies and lenders stand in unison in the condemnation of such actions and we all take varying degrees of offense to the labels applied by these sensationalists.
So where does this impression rise from, perhaps from the sheer nature of indebtedness itself. As William Shakespeare wrote in one of my favorite quotes of all time “…Debt dulls the edge of husbandry.” In other words, being in debt makes a man feel like less than a man, or to take the sexual role out of the definition, being in debt hurts self esteem. As debt is extremely normal in our society, I would argue that the real dullard of the “edge of husbandry” is being unable to pay those debts.
We all live in a time of delinquency and unemployment unprecedented since the Great Depression. A very large number of the general population is delinquent on some or all of their obligations. This population seeks relief and are being manipulated under the premises of social justice for the sole and selfish purpose of their own financial gain. This fact hold true of every advertiser for financial relief as well as politician who promises revenge against Wall Street and the “evil” lenders that created the housing bubble. I don’t know about all of my readers but I’ve never even been to Wall Street and if you really wanted to look for a root to the housing bubble, I would suggest you take a look at the political motives of persons in Washington whose best interest were served in the appearance of championing loan availability to the unqualified.
Many of you will read this and think to themselves, “So what!” To some degree, you should feel that way. You wouldn’t last long in this business if you weren’t an individual with thick skin. Perhaps a little more self policing would improve our industries image, but I really wouldn’t expect the press, let alone the public to show any appreciation for such endeavors. So what can we do? Nothing more than what we’ve always done. Respect and comply with our applicable laws, regulations and abide by the golden rule.
Will I lose sleep over being labeled a “Debt Terrorist?” Not while I have a clear conscious I won’t, and certainly not from the guy in the video above.
