Acquire a debtor's holiday season credit reports for crosschecking

Although improved consumer spending may be a good sign for the economy, it doesn't mean much for a debt collection agency whose debtors are avoiding calls and preferring to use their money at the mall instead of paying their dues. The holiday season is seeing shopping sales breaking all-time records and based on a report by comScore, the first 39 days of November and December saw holiday e-commerce spending nearly reach $25 billion, a 15 percent increase from the same time in 2010. Gian Fulgoni, chairman of comScore, said in a statement that there were three separate days in which online retail sales exceeded the $1 billion mark. "These highlights represent another very positive sign for the holiday shopping season, as the week following 'Cyber Week' often experiences relative softness in spending momentum due to retailers pulling back on their promotional activity," Fulgoni said. "As we enter what will be the heaviest week of the season for online retailers - beginning with 'Green Monday' on December 12 - all signs are now pointing to a strong finish to the season." If you obtain the credit reports of a consumer who has yet to pay their debts, first find out if they made major expenditures during the months of November and December. Doing so will help you justify a substantial argument for a claim. Clearly, if a consumer was able to spend a couple thousand dollars on holiday gifts, then they should at least have the capability to pay some of their debts. However, a small claims court may not be the desired route unless it’s the last resort. First, you may be able to take credit action against a debtor, Microsoft reports. For instance, if a debtor has consistently refused to pay their debts, you may be able to contact the state's credit bureau and tag a bad credit report to their record. In light of this, the debtor may do all they can to remove this record from their report and pay up swiftly. It is more important for a debtor to clear their name of such bad credit reports, as this can lead to financial rigidity in the long run. Understanding your debtor's funds is key, the news source explained. Although they may claim they are impoverished, an investigation of their assets can provide a definitive answer.