How do they justify £1.5k for a tow truck? Just watching the last episode They were collecting a debt and called a tow truck and the debt increased by over 50% just for calling a tow truck. It's a couple of hundred at the most, how do they justify this apparent extortion?
This is one of the ways that the cycle of debt accelerates....
Any goods they take are sold for a pittance so the debtor ends up with precious little property and hardly anything offset against the original debt.
A legal and lucrative business but one that would make me feel grubby to be involved with.
TBF though Jack, they are nearly always the result of head in the sand mentality. The business would not exist if people were reasonable early on. Instead it escalates. The bloke I'm talking about ended up paying a chunk more for not having his car towed away, he ignored them so they called a tow truck then finally paid up. Initially the debt would have been no more than a few hundred he ended paying well over £3k.
A mate of mine was a debt collector, Court appointed. He reckoned the vast majority had the money with many even having it on them. He collected in some of the worst areas round here and they would often pay up in cash on the spot.
I’ve had to employ bailiffs twice because people have not paid the money the court ordered them to. Getting the money from people that owe it is time consuming, stressful and often impossible. Very frustrating when I know they can afford to pay