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.

Usually, legitimate creditors who aren't criminals will hire out third party bill collectors to retrieve debts. Collection agencies work on commission, where they receive a portion of the amount of money that they collect. Frequently collection companies will purchase debt from the creditors so that they can collect the whole sum of money owed.

The Irish thugs seemed to have borrowed inspiration from this practice, but the similarities end there. The boss of the notorious Irish gang has established his own collection agency, purchasing 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 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. - 39468