Please check this link.
http://www.mccombs.utexas.edu/news/m...s/bad_debt.asp
I would post this myself but do not know how to do so. If someone can, that would be great as this is a great revalation as to how to begin to understand how the debt collection buisness works. For example every penny that wolpoff squeezes out of some defendant, 100% goes into their pocket. They may say their "representing" some collection firm ( Great Senaca Financial Corp. for example).
My guess is these are really little more than "shell" corporations who are ultimatly owned by wolpoff, so they give the appearance in court that they are actually representing some supposed third party. And thus are able to "answer" for their "client" Even back it up with some notarized, bogus, discovery affidavit, (which even states as much, but you don't have an attorney so lets see if we can get away with it) from alleged "plaintiff". Even if it is not permitted. Hey, we can, so we do, bada bing (wolpoff buys 55,000 charged off credit card accounts per month alone) and most of 'em probably come from this skank, louise
epstein of COC i.e. Charge Off Clearinghouse
Check out her website
www.chargeoffclearinghouse.com
Hope this provides some food for thought and some ammo
Here is another website that may interest you all
www.collector.com/images/5/0403Mb.pdf