Sea Side Scrap Book » Irish Gang Branches Out Into Bill Collection

Irish Gang Branches Out Into Bill Collection

And you thought your collection agency was bad. It has been revealed in recent news that an Irish gangland boss has found a new calling- debt collection. This criminal progidy has been associated with twelve deaths; a threat even more looming than a collections letter.

Most of the time, legit creditors who aren’t gang members will hire out third party collection agencies to retrieve debts. Bill collectors work on commission, where they receive a percentage of the amount of money that they collect. Oftentimes collection agencies will purchase debt from the creditors so that they can collect the entire sum of money owed.

The Irish gang members seemed to have gotten inspiration from this practice, but the similarities end there. The boss of the disreputable Irish gang has created his own collection agency, purchasing debt and using his notoriety to bully his way into gathering the money owed. The unlucky debtors are drug users who are unable to repay dealers.

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Lawful collection agencies will generally start with a gentle “reminder letter.” If the debtor is hostile or evasive, the letters will become sterner. Phone calls are used as well to remind those who owe money to pay up. If these tactics fail, the agency has the right to report a debt to credit bureaus, or file a lawsuit.

Conversely, the Irish gangland “collection company” will use its authority as a group of cold-blooded murderers and criminals to bully debtors into paying back drug money. Fortunately, the head of this operation has been arrested, and the Justice Minister of Ireland has sworn to do everything in his power to ensure that the accused will be brought to justice.

So next time you get a letter from a collections agency, try to keep things in perspective. And if you are ever in Ireland, it is probably not smart to take out a loan with a notorious gang.

Mallory Megan is employed by a debt collection company. Also she writes articles on business, finance, the credit industry and collection agencies. You are welcome to reprint this article – but get your own unique content version here.