The lopsidedness of the credit system really ticks me off. Credit reporting agencies should be sued for libel when they spread false information about someone. You should have to be fairly certain that something is true before you spread it around and damage a person's reputation. So many people simply pay off debts they do not owe, just to get credit reporting agencies to stop spreading lies about them.
Debt Collectors Have Figured Out A Way To Seize Your Wages And Savings
So...if a debt collector says you owe them 2500 bucks on a mastercard you don't own, they can take your house that is worth 60,000? Is that the new thang going on?
Debts should be paid, I would have thought. If you take more debt than you can handle from cash flow, you have to sell assets. If you are unwilling, then a court does it.
Where is the problem?
Of course they should be paid. But when you can be sued without notification; when you can be sued and judged against without the chance to defend yourself; when you can be erroneously sued without notification and be held liable for the money you don't owe; and when you can have wages and/or property taken without due process, THERE'S A BIG ****ING PROBLEM.
It does seem like undue process for the court not to require proof of prior demands made to and received by the debtor.
Precisely my point. I have no problem with people trying to get their money, nor with them farming it out to third parties to do so. What I do have a problem with, even more than the borderline harrassment debt collectors engage in, is the justice system so skewed in the favor of the collector with little regard for ... well, pretty much anything regarding the debtor.
We can thank Joe Biden for this, by the way. As a Senator from Delaware, which is home to most of the major credit card companies in the U.S. (an old joke was to refer to him as "Sen. Biden D-MBNA") he advocated tirelessly in favor of the CC companies. He, like any pol, knows on which side his bread is buttered.
It does seem like undue process for the court not to require proof of prior demands made to and received by the debtor.
Debt Collectors Have Figured Out A Way To Seize Your Wages And Savings
So...if a debt collector says you owe them 2500 bucks on a mastercard you don't own, they can take your house that is worth 60,000? Is that the new thang going on?
Like everything else in life, people learn how to work the system. And the rest of us pay for it.
I think it's tough. Send a Certified Letter and the receiver refuses it. Maybe writes on it "no such person at this address". Process server serves it in person. Or does he just say he did?? IMO, credit card companies ought to be held to a high standard to collect their debt. Thirty days late with a payment? Credit card's shut off. Card limits kept much lower than they are. My card limit is $30,000 on several. What's that about?
Like everything else in life, people learn how to work the system. And the rest of us pay for it.
As to the house being taken, apparently in NY State, if it's not your principle residence, a house can be taken for payment. It was his mom's house; she had passed away. It was his mom's debt. What do you want to bet he knew about and figured, "She's dead; I don't have to pay it"?
I have no confidence in the American people at large to do the right thing where money's concerned.
Are you serious? Do you know how ultra-liberal that sounds? The "at large" part adds or subtracts nothing from your statement.
Debt Collectors Have Figured Out A Way To Seize Your Wages And Savings
So...if a debt collector says you owe them 2500 bucks on a mastercard you don't own, they can take your house that is worth 60,000? Is that the new thang going on?
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