A quiet but deadly debt collection device, dealt out by the IRS.
You run a nutritional supplement business focused on a salivation suppressant product for heavy droolers. You’ve fallen on hard times. You don’t have enough money to meet all your obligations, so you start skimping on your taxes. The IRS doesn’t just wait for you to pay. If you ignore their series of increasingly nasty letters, they might move to a second stage of the collection process: the silent automatic lien.
With this procedure, they put a lien on your property, making it possible for them to seize items if you continue to shirk your tax obligations. The lien is referred to as "silent" because it doesn’t show up in public records. It doesn’t affect your credit score or interrupt your ability to do business. The IRS is just using it as leverage to get you to pay.
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Finance: What is the Fair Debt Collectio...1 Views
Finance allah shmoop what is the fare debt collection practices
act fair debt collection That doesn't sound like a euphemism
for the guys with the baseball bats who knocked gently
on your door and talk with you quietly about your
poker losses there Well that whole goodfellas thing became such
a problem that the feds had to get involved in
established rules as to how far those guys with the
baseball bats could go and they came up with the
following a they can't use them the baseball bats to
hit your knee caps anyway if you don't pay your
bills be they have to listen to your pushback on
like a safe space is literally safe Space is not
like the kind of uc berkeley so they can't call
you at work and castle you thereabout bills if you
tell them not to and see they can't call you
at home in the middle of the night or bang
on your door at two a m and wake the
kids and terrify you about your bills that you owe
you owe well basically this act which became law in
nineteen seventy seven established the notion that even if you
really are a total deadbeat somebody who was stupid enough
to loan you money like you don't pay your bills
you promised to pay them and you just don't you
don't pam back You don't care about your honor self
respect you're a deadbeat but the feds took the perspective
that wealth Somebody was stupid enoughto loan you that money
in the first place and they can on li yu's
quote fair means unquote to collect the money you promised
to pay them back So what's fair Well this is
fair and this is not fair They're not they're they're
not fair All right you get the picture paid your 00:01:41.055 --> [endTime] bills
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