The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/generally-one-letter-one-phone-call-were-spent-15079862.aspx

Subject:  Re: worstnightmare Date:  5/31/2001  1:46 PM
Author:  aja91 Number:  73615 of 308349

Generally, one letter & one phone call were spent on accounts under $100. Unless the person promised to pay and then did not in which they would get dunned again for being a repeat liar with no remorse ! LOL

Okay, for $100 this makes sense. But for $0.01? How do you justify that economically? It's a losing transaction even if you collect immediately. There has to be an amount at which it no longer is worth the effort to collect.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us