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Collections since the 19th century
The failure of debttors to recover and make the money lead to the lenders to rely on secured loans during the 19th century https://www.mchugheslaw.com/the-history-of-debt-collection/ -
Resuts of evryone relying on secured loans
"every large number of americans owned property, creating an exanpanding market for secured loans" https://www.mchugheslaw.com/the-history-of-debt-collection/ -
Fear
Fearing the loss of their investments, creditors would often foreclose aggressively on wayward borrowers , providing little resources to those who fell on hard times. https://www.mchugheslaw.com/the-history-of-debt-collection/ -
angry dept collectors
Debt collectors had started to harass and ask for larger amounts of money https://www.ftc.gov/news-events/media-resources/consumer-finance/debt-collection -
computer development
computers were developing and making it easier to bill collect https://www.rocketreceivables.com/better-worse-technology-affecting-debt-collection/ -
development of computer 2.0
With the new technology it was easier for collection agents to track down the debtot. https://www.rocketreceivables.com/better-worse-technology-affecting-debt-collection/ -
computer development 3.0
Computer and online have made it easier aswell by creating easy payment methods. https://www.rocketreceivables.com/better-worse-technology-affecting-debt-collection/