The Balance

According to popular opinion, debt collectors are disliked, but debt collectors associated with the companies of Robert Heidenreich have taken things to the next level. These debt collectors employed the tactics of loan sharks and caused such a widespread problem that the government had to step in.

What’s overbiffing?

Companies use the acronym BIF (balance in full) to refer to the amount of money a person owes the company. Debt collectors at this company were instructed to tell customers that their balance was actually larger than it was.

The process, called overbiffing, was documented in the company’s own records. Each debt collector was asked to record the difference between what a customer owed and what they were able to successfully get out of the customer. How were they so successful?

It gets worse…

These debt collectors used abusive, illegal tactics. They would transfer customers to multiple employees, claiming that they were policemen or lawyers involved in prosecuting the customer. They would convince customers that they would be sued or arrested if they didn’t settle their debts.

The company was even guilty of researching into the customer’s personal life and threatening to reveal their financial predicament to family members and even their places of employment. Many customers have reported that these debt collectors would scream and curse at them.

Know your rights

Anyone who owes a debt has certain legal rights because of the Fair Debt Collection Practices Act. Debt collectors are legally prohibited from making threats and from harassing debtors. They do not have the power to get you arrested, and they should never pretend that they do.

They are not allowed to call early in the morning or late at night, and they cannot continue to call your job if you tell them to stop.