Collectors hurt by recession as consumers walk away from unpaid bills

“This situation lets people in on a dirty little secret for a lot of firms, especially on the service side. Their collections efforts are really a bluff. They really aren’t going to pursue their borrowers very hard,” [David] Vang said. “When people see that, their morals adjust. I think this could snowball.”

Collectors hurt by recession as consumers walk away from unpaid bills | Finance & Commerce (thanks LaVern!)