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forfeited as a result of legal action. 
Financial management: Technique used to balance income vs. 
expenses.  Responsible financial management usually results 
in an excess of monies available. (This style of managing 
finances has yet to be mastered by the United States 
Government.) 
Flaky loans: Questionable loans made by banks in the 1980s 
such as student loans or land development loans. (see 
defaulted student loans) 
Fraudulent activity: Transaction designed to swindle 
consumers or creditors, normally cheating these groups out 
of goods, services or assets. (see sign of the beast) 
Freebie report: A copy of your credit report given to you at 
no charge for one of two reasons ... every consumer gets a 
free report from TRW just for asking and every consumer gets 
a free copy of their credit report if they have been 
declined credit. 
Getting bulletproof: The process of insulating a person from 
lawsuits, garnishments, creditor intrusion and harassment.  
Popularized in Texas during the late 1980s ... now being 
utilized by consumers/business people in California and the 
East Coast. 
Hired gun: The hiring of third party debt collectors or 
attorneys to emotionally pummel a consumer in hopes of 
collecting an overdue account. 
Hot checks: Drafts on a bank account that will be or have 
been returned by the bank for insufficient funds to pay face 
amount of check issued. 
IRS refund offset program: Effort initiated by the 
Department of Education to recover defaulted student loans 
by seizing the tax refunds of consumers with the assistance 
of the Internal Revenue Service. 
Interrogatory: Sworn statement made in writing as a result 
of a list of questions/inquiries by attorneys in court (or 
post judgment) action  
Intimidation: Inspiring or inducing fear (a favorite tactic 
of debt collection agencies). 
Knee Breaker Collection Agency: Generic name used to 
describe a collection agency that may use techniques that 
are not endorsed by the American Collectors Association or 
deemed legal by the federal government under the Fair Debt 
Collections Practices Act. (see Vito) 
Lawyers:  (see Attorneys)
Leverage:  A negotiating position of strength; something 
creditors may have, debt collectors never have, and 
consumers almost always have. 
Mail drops: Companies like Mailboxes, Etc. and others who 
provide a valuable service to consumers wanting to distance 
themselves from intrusive individuals such as debt 
collectors.  Allows a new mailing or street address to be 
instantly created by consumers trying to insulate their 
lives. 
Medical bills: The number-one reason consumers have been 
filing for bankruptcy, medical bills many times can be 
appealed or I negotiated with the original provider.  It is 
not uncommon to be grossly overcharged or mis-billed for 
medical services, so it's important for consumers to be 
aggressive when auditing these statements. 
National Foundation For Consumer Credit: Parent organization 
for CCCS. (see Consumer Credit Counseling Service) 
Negative information (or remarks): Statements or grades 
assigned on credit reports due to late payment, non-payment 
or default on debts owed to creditors.  Bankruptcies and 
hens also show up under this category.  Favorite point of 
leverage utilized by collection agencies attempting to 
passively blackmail consumers. 
Nine-Digit Zip Code: Increasingly becoming a powerful tool 
for skiptracing, the 9-digit zip codes allow specific 
location (if a current address can be located) of a 
consumer, courtesy of the U.S. Post Office. (Another 
compelling reason to utilize post office boxes or mail 
drops.) 
Non-dischargeable debt: Debt that cannot be eliminated 
through bankruptcy court.  Some types of IRS debt, student 
loans and certain types of judgments fit into this 
category. 
Old debt: Debt that has been charged off/written off by a 
creditor, normally referred to an outside 'third party" 
collector.  Old debts are usually those debts/accounts that 
have not had charge or payment activity for over 2 years and 
are the easiest to negotiate payment/removal from credit 
reports with creditors. 
Open account: An account with a creditor that is still on 
the books and, in the opinion of the original creditor, 
collectible.  These types of accounts usually are 
reported/updated to the credit bureaus and report late 
payments.  They can be the most difficult to negotiate with 
a creditor. 
Oxymoron:	A term that contradicts itself, such as "jumbo 
shrimp" or "military intelligence" or "ethical debt 
collector" or  "reasonable legal fees." 
Paid As Agreed: Old term used on consumer credit bureau 
reports to describe an account that may have been 
renegotiated and/or settled for less than the full amount.  
Many creditors are now flagging these notations as 
negatives, so it's important that your creditor agrees to 
delete all information regarding a settled account, not just 
re-classify the account as "paid as agreed." 
Paralegal:	Vague title used (and abused) by many debt 
collectors to misstate level of power, prestige or might 
Threats of lawsuits and jail time are frequently used by 
people espousing to be "paralegals". 
Password:	An identifying word or code that consumers may set 
up with the phone company and other service providers that 
allows only authorized individuals access to information 
concerning an account.  Unprotected accounts are frequent 
targets by the debt collection community in order to obtain 
additional information about a consumer. 
Positive identification: A means to identify without a doubt 
the identity of a consumer wishing to obtain a copy of their 
credit file.  A check and balance designed to keep 
unauthorized people from gaining access to your 
information. 
Postdated check: A check with a date in the future, a 
technique utilized to connate a person to make payment after 
the date written on the check. (Something a consumer should 
never, ever give to a debt collector.) 
Profit & Loss Statement: A valuable accounting function that 
shows a reconciliation of all gross income and expenses to 
offset the same, arriving at a net profit (or loss) figure. 
Prospective creditor: A credit grantor that has not yet 
agreed to loan/lend monies for the purchase or a home or 
automobile, or through the issuance of a credit card.