On CNN.com, there is an article about "rogue debt collectors" and talks about the rules collectors should follow.
Interesting that something that used to be so embarrassing is now a story on the front page of CNN.
Makes me wonder if recent events in the economy have created this debt situation or if the debt helped bring down the economy.
Read it and see what you think.
http://www.cnn.com/2008/LIVING/personal/02/29/rogue.debt.collectors/ind…
I believe it is a little of both. Some people aquire credit card debt when a loved one gets sick and the costs of their medication eats away at the family funds. I think we will see alot more of these stories in the future with the fall of the economy people are left to rely more and more on credit cards. I also think those companies are aware of that factor and benefit from it. What really angers a person is when you hear of them harassing people the way they do. Alot of people never expected to reach the debt amount they are at. That alone along with illness or whatever circumstances already leaves the person in a fragile state zand under a lot of stress. They don't need these unfair acts to contribute even more.
Debt is such a thing which pricks you as long as you keep it. If you have taken a credit remember, do that only if you know you can pay it back. Do not leave your decisions for the future.
Learn your rights mainly FDCPA and the FCRA to fight back in case of illegal actions.
It sure can come back to haunt you (debt) and cause you alot of stress that is for sure. Thanks to the referral to those web sites.
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M3YBlO Really enjoyed this post. Really Great.