New York Shuts Down Collection Agency Run By Felons

As reported by the AP and The Houston Chronicle, the State of New York shut down a Buffalo, New York company run by felons.  The company operated under a number of names, including Final Claims Asset Locators, and it was run by a former drug dealer named Tobias Boylan that goes by the moniker, "Bags of Money".  The company was terrifying people into paying money by stating that the police were being sent over to their house then to throw them in jail.  In one recorded phone call the collector was heard saying, “Make sure you have somewhere for your kids to go. Lock up your house. Get some clean clothes, because you’re not coming home anytime soon."

This is obviously an interesting public interest story, but whether run by felons or more reputable sorts, the truth of the matter is that collection agencies are constantly engaging in this type of strange innuendo that is intended to deceive the person with whom they are dealing.  There should also be a concern about the propriety of companies that provide the business to these collectors.

Comments

[Patches]

Right on... Grate post. I hear it all the time!!!! It has actually gotten so much crazier that it used to be... Before it was on the line kind of stuff but now it is over the line consistent.

[Mr. B]

Unfortunately, there is no such thing as an honest or ethical debt collector for the same reason there are no honest or ethical child molesters, the mindset they operate in is totally incompatible with decent human behavior. The Buffalo company that was shut down was one of the worst, but there are more out there just as bad. Like child molesters, these scum derive much of their power from secrecy and the lack of knowledge on the part of their victims. One bank president I spoke with said it is really appalling just how few people in this country know what their rights are in this area. The best thing anyone in such a situation can do is learn all they can about their rights (The FTC website is a good place to start) Then share what you learn with three friends and ask them to do the same- and so on. In the fight against these cowardly punks, knowledge isn’t just power, it’s a weapon of mass destruction. Feel free to use it on these terrorist filth, they deserve it!