TigerD
Senior Member
Interesting idea -- wonder if that qualifies as an FDCPA violation. I would think so.
From their FAQ
March 6, 2007
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Stevens & Ricci, Inc. launched a new website today that shows small business owners how to leverage the power of the IRS to collect even the most delinquent accounts. The new website is http://www.irscollect.com/. The IRS Advantage© Collection System is a new product from credit management firm Stevens & Ricci, Inc.
“Somebody’s got to draw a line in the sand when it comes to debt,” says Ben Ricci, president of Stevens & Ricci. “We think we’ve done it with the IRS Advantage© Collection System.” Ricci says his strategy effectively “turns the IRS loose to do the dirty work of debt collection. In a roundabout way, the IRS becomes your partner in collecting even the most difficult accounts,” he says.
“Our approach to debt collection is to use the already-existing pressure points in the tax code,” says Ricci, whose strategy operates on the premise of reporting bad debt as a loss. “This could cause the IRS to view the delinquent debt as income to the debtor,” he says. “And, it’s a well-known fact that the IRS routinely runs computer matches of 1099s.”
Ricci says debtors soon realize that all this maneuvering can trigger a closer examination by the IRS. “They understand quickly that this could lead to an audit. And what business wants that?” he asks.
“At this point the [debtor] gives up, reaches into his pocket and pays up,” says Ricci. "Attracting the attention of the IRS simply isn’t worth it to him.”
Ricci, who claims more than two-thirds of all businesses carry delinquent accounts, says his company’s proprietary debt collection system succeeds because it combines accounting principles with debtor psychology.
From their FAQ
Ricci says debtors soon realize that all this maneuvering can trigger a closer examination by the IRS. “They understand quickly that this could lead to an audit. And what business wants that?”Q: Does this work with commercial accounts only?
A: No. The technique is equally effective on retail/consumer accounts, including medical, bank loans, bad checks, educational, etc. We have prepared a special retail IRS letter for your use. Note: this letter is NOT FDCPA compliant and you will have to assume this risk after making the necessary modifications (mini-Miranda statement, etc.).
March 6, 2007
Email this article Email This Article
Stevens & Ricci, Inc. launched a new website today that shows small business owners how to leverage the power of the IRS to collect even the most delinquent accounts. The new website is http://www.irscollect.com/. The IRS Advantage© Collection System is a new product from credit management firm Stevens & Ricci, Inc.
“Somebody’s got to draw a line in the sand when it comes to debt,” says Ben Ricci, president of Stevens & Ricci. “We think we’ve done it with the IRS Advantage© Collection System.” Ricci says his strategy effectively “turns the IRS loose to do the dirty work of debt collection. In a roundabout way, the IRS becomes your partner in collecting even the most difficult accounts,” he says.
“Our approach to debt collection is to use the already-existing pressure points in the tax code,” says Ricci, whose strategy operates on the premise of reporting bad debt as a loss. “This could cause the IRS to view the delinquent debt as income to the debtor,” he says. “And, it’s a well-known fact that the IRS routinely runs computer matches of 1099s.”
Ricci says debtors soon realize that all this maneuvering can trigger a closer examination by the IRS. “They understand quickly that this could lead to an audit. And what business wants that?” he asks.
“At this point the [debtor] gives up, reaches into his pocket and pays up,” says Ricci. "Attracting the attention of the IRS simply isn’t worth it to him.”
Ricci, who claims more than two-thirds of all businesses carry delinquent accounts, says his company’s proprietary debt collection system succeeds because it combines accounting principles with debtor psychology.