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    Silver

    Debt Buyers Purchase Debt From Banks and Hunt You Down: “Pay Up or Will Eat Your Dog”

    Mac Slavo
    June 8th, 2016
    SHTFplan.com
    Comments (74)
    Read by 7,148 people
    Illustration by David Dees. http://www.deesillustration.com/

    Illustration by David Dees. http://www.deesillustration.com/

    Hope to ever get out of debt in your lifetime? Hope that these guys don’t find you first.

    They are the bounty hunters in the American wasteland debt collection.

    Many Americans have had unfortunate dealings with a relatively new practice that involves predatory ‘investors’ who buy up delinquent consumer debt and pester and intimidate bad debtors to pay up.

    Often, the debtors are sued in court, and default judges and wage garnishment are the typical end result.

    Their tactics and the legality of their methods of collection are shady, but still enough to hold struggling Americans hostage for everything they have, as comedian John Oliver discusses in this segment from Last Week Tonight:

    With many of these cases involving huge amounts of unpaid medical debt, it represents a major factor in explaining why Americans are falling so far behind and becoming completely consumed by debt.

    John Oliver ends the segment with a feel-good gesture of purchasing debt for pennies on the dollar and then forgiving some $15 million in debt that cost only $60,000 to buy up.

    Forbes report:

    On last night’s episode, Oliver pulled back the curtain on the debt-buying industry, revealing how banks holding the reported $12 trillion in outstanding consumer debt will often write off the debt (for tax purposes!), before selling the obligation for pennies on the dollar to a collection agency, who will then do their best to collect the full face value of the debt from the owing party. Should the collection agency fail to collect the debt, it will in turn write off its purchase price of the debt for tax purposes, before selling it again for even fewer pennies to another collection agency. Inevitably, the debt ends up in the hands of the lowest common denominator of collection agencies, who will assign the process to often-unscrupulous independent debt collectors, who will then harass the debtor into paying up, even threatening to eat their dog.

    Oliver used the opportunity to demonstrate that a minimum amount of money could purchase back magnitudes of debt that are swamping the middle, working and working poor classes – though it must be done through a proper tax free organization or else even debt forgiveness could trigger significant tax liabilities as if it were earned income. Via the Huffington Post:

    An organization known as Debt Collective has been buying and cancelling people’s debt for years, as part of a program known as Rolling Jubilee.

    It has raised US$700,000 to wipe out more than $30 million in tuition and medical debt. It worked with “Last Week Tonight” ahead of Sunday night’s broadcast.

    The John Oliver stunt makes a good point. But more and more Americans who become caught up in mountains of debt are left with moneys due that they have no way of paying for.

    Thousands of Americans are now getting caught up in modern day debtors’ prisons as private collectors drag people into the courts where they are ill-prepared to clear their name or get off the hook. Instead, from time served, to fees, penalties , interest, liens, and lasting debt, if you become too poor to pay up, the judicial and consumer industries often consider you fair game for their version of justice – truly the most dangerous game.

    Read more:

    Loan Debt Trap Swallowing Up Consumers Making Bad Decisions: “Shame On Me. But Damn, Shame On Them”

    U.S. Marshals Collect Unpaid Student Loan Debt At Gunpoint: “Isn’t The First And Won’t Be The Last”

    Delinquent Debt At Levels Worse Than 2008: “Exact Same Thing Is Happening Again”

    Specter of Debtors’ Prisons Looms Over Americans Who Just Can’t Pay: “You Can’t Squeeze Blood From a Turnip”

    Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.
    Advanced Tactical Gas Mask
    Please Spread The Word And Share This Post

    Author: Mac Slavo
    Views: Read by 7,148 people
    Date: June 8th, 2016
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

    74 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Satori says:

      and on a somewhat related note
      there is this

      State Police Swiping Motorists’ Debit, Prepaid Cards to Seize Money

      ht tp://www.prisonplanet.com/state-police-swiping-motorists-debit-prepaid-cards-to-seize-money.html

      I just love it when people rant and rave about “libtards”
      Oklahoma is a red as it gets

      do YOU get it NOW ???

      • Captain Crunch says:

        Got it.

        Bring it while we have a country left to save!!!!

      • Archivist says:

        This isn’t new. NC was looking into installing card readers into patrol cars over 10 years ago, so drivers could plead guilty to a ticket on the spot, pay the fine with their credit card, and avoid spending time in court.

        • Colt M4 says:

          Archeivist, this is not that, if you read the story the cops are pulling people over. Then they are asking the drivers and passengers questions on the side of the road, and if they don’t like your answers they are taking your debit cards. Then sliding your cards through a machine they got from a vendor listed in the story, who by the way gets a 7% cut of anything the cops take. This machine allows the cops to go straight into ANY of your bank accounts, and TAKE YOUR MONEY!!! This, all without even ever being charged with a crime!!!! This is theft under the color of law.

      • smokey says:

        Nothing wrong with that, lots of folks get the ticket and then lie about being able to pay it in court. They also lie about being able to afford insurance, pay the rent, or pay off a debt or utility bill.

        But you’ll find they have plenty of money for tattoos, beer, liquor, pot, pills, and cellphones.

        Fuck ’em. You don’t want to pay the fine, drive within the legal constraints.

        Only a libtard would make a lame attempt to turn a traffic ticket into a social justice issue.

        • Anonymous says:

          No just someone like you thinks it’s fine for cops to have a cash register in the patrol car. What if somebody has an afterthought and wants to fight the ticket in court. Too late it was already paid at the scene.

        • Satori says:

          ummm
          it IS about justice,social and otherwise

          Finland, Home of the $103,000 Speeding Ticket

          h ttp://www.theatlantic.com/business/archive/2015/03/finland-home-of-the-103000-speeding-ticket/387484/

          if a millionaire gets fined $300 for speeding
          the fine isn’t even a minor annoyance

          if someone who is making minimum wage gets fined $300
          the rent might not get paid
          there may be no money for medicine that month
          or even food

          understand NOW ???

          • Anonymous says:

            Satori,
            Well said. Some people are only capable of thinking in terms of good or bad or black and white. Their rigid way of thinking is their problem.

          • Kevin2 says:

            Satori

            “if a millionaire gets fined $300 for speeding
            the fine isn’t even a minor annoyance”

            Back in the 1960s there was a sports team owner, very wealthy, forgot his name that loved to duck hunt. Time of year, bag limit and similar restrictions didn’t concern him as he routinely just paid the fine. On a bigger scale Wachovia Bank launders between $300-$400 BILLION and pays $165 million in fines and no one is criminally charged let alone goes to jail.

          • smokey says:

            Cry me a river about your social justice. If you can’t afford to pay a $300 fine or pay the rent, you tell the judge that and they can get a payment schedule worked up.

            You can even engage in pre-event behavioral modifications that will prevent your need to pay any amount of fines at all, such as not speeding and using turn signals, yielding, etc.

            You have a computer, spare time, and an income that allows you leisure activity. Obviously, your fines should be $1000 and not $300. It’s only fair, you make far more money that someone living in his car and can take the hit. Put your social justice mouth where your wallet is and pay up.

      • Acid Etch says:

        PEOPLE OF SHTFPLAN, HERE’S A TUTORIAL ON HOW TO RELINQUISH YOUR WHITE PRIVILEGE

        SO BE SURE YOUR EXHIBITED BEHAVIOR IS DIAMETRICALLY OPPOSED TO EVERYTHING YOU READ HEREIN

        http://www.amren.com/news/2016/06/so-you-say-youve-got-white-privilege-now-what/

        http://www.amren.com/news/2016/06/state-dept-expects-syrian-refugees-to-u-s-to-increase-exponentially-this-summer/

        http://www.amren.com/news/2016/06/feds-spend-nearly-20000-to-settle-every-refugee/

        IN THE MEANWHILE, THE HNIC WANTS TO EXPONENTIALLY INCREASE THE RATE OF SYRIAN REFUGEE RESETTLEMENTS FROM THE CURRENT FIGURE OF 10000 A YEAR

        EACH AND EVERY ONE OF THEM WILL COST YOU $20000 JUST TO RESETTLE, AND 50-70% WILL THEN BE ON WELFARE FOR LIFE.

        GODDAMN IT, DO YOU FELCHING FUCKASS MORONS STILL THINK RACE DOESNT MATTER? STILL BELIEVE IN THE PAINT JOB THEORY?

        RACE DOES FUCKING MATTER!!!!!!!!!! THE USE OF IMMIGRATION TO CHANGE A COUNTRYS ETHNIC MAKEUP HAS BE RULED GENOCIDAL IN NATURE BY THE UN.

        YOU FUCKING CUCKS

        MAKE AMERICA WHITE AGAIN

      • Jacknife says:

        Yep I get it. I’m also gonna get me some stock in them machines. Seems to be so many slimy ass ways to make some money, even legally. Makes me wonder why I bust my ass 10 hours a day. Shit, between these fucking predators, the FSAand all the other wallet siphoning scum, there really ain’t no point in working anymore. The dignity that hard work creates has been suffocated.

    2. PO'd Patriot says:

      Been having trouble accessing some of the other articles on here this evening. Program wants to keep closing the tab and then reopen again. Somebody is getting pissed off by what’s being discussed.

      • zzzulu says:

        I the same problem with an article I tried to read before this one.

      • Upstate New Yorker says:

        @ PO’d Patriot – I too, am having the same problem you are having.

      • WhoWTFKnows. says:

        GUILTY UNTIL PROVEN INNOCENT. THERE IS NOTHING CONSTITUTIONAL ABOUT THIS. This should make your Blood Boil. These POS Pigs in Oklahoma are stopping Motorists, then taking the motorist’s Debit Cards and keep swiping them to steal all the money out of your bank account. Then you get to try and prove it is legitimate money and not drug money.

        I’d put a bullet in these PIGS NumbSkulls. These Mutha Fckers are Pushing Americans to the edge, The Great Culling is about to unfold. USING THEIR BADGES TO STEAL YOUR ASSETS. The Greatest Scam of Wealth Transfer is “Asset Forfeiture.” They steal all your money then you cannot afford to hire an ATTY, to represent you, because they stole all your money. Sounds like another NWO JEW Scam. Read this article and watch the Video.

        State Police Swiping Motorists’ Debit, Prepaid Cards to Seize Money

        http://www.prisonplanet.com/state-police-swiping-motorists-debit-prepaid-cards-to-seize-money.html

        ~WWTI… AGAIN, NEVER KEEP ANY EXCESS MONEY IN THE BANKS, AS THERE ARE 100 WAYS TO GET IT STOLEN.

        • Winston Smith says:

          Read about it the other day and yes, it does make my blood boil. Now they can take away all of your savings and along with it, the ability to hire an attorney to defend yourself in court and try to recover your stolen possessions. Civil asset forfeiture is nothing more than state sanctioned theft and is very unconstitutional. Yet, it has been going on for over 30 years and the judiciary has done little to stop it.

          The other issue is the cost of fighting it. Say the government steals $2500 in cash or assets from you. Between the legal fees and court fees you will likely wind up netting nothing at the end of it as the state will not reimburse you for your recovery costs. Worse yet, you could end up owing even more money than you lost at the end of it if you fail in court due to those legal and court costs. Thus, it is an easy way for a government to just steal your money because you can’t win by fighting it.

      • Mac Slavo says:

        I will look into this further — unable to duplicate the issue right now but it looks like others are having similar issues .

        Can you let me know what browser you are using ?

        Thanks and sorry for any inconvenience.

    3. john stiner says:

      I have been debt free since 2013. And I mean DEBT free. No house note, no car note, no credit card debt, no loans of any kind.

      It is surprisingly liberating. Now i just have to worry about taxes.

      If you get the chances, check out “Handling money God’s way” by Crown Financial Ministries. I did their video series over the course of 8 weeks in Sunday School. It really helped and changed

      • Colt M4 says:

        John, you see I’m just like you debt free, but even though your debt free, still make sure you check your credit report at least once a year. You see your a prime target for identity thieves. I found this out the hard way after someone had opened up 3 credit cards using my name.

        The funny thing is this guy kept paying the minimum payments on each card. So it wasn’t until he had run the cards up to their max, and stopped making the payments that the bank contacted me about being late on “my” payments.

        I have to say the banks weren’t to happy when i told them they had been ripped off. The really bad thing is the banks just leave you with a shit ton of work trying to repair your credit. It ended up taking me a few months, and what seemed like a 1000 phone calls to get this off my credit report. After this happened i now check my credit report every year like clock work.

    4. anon says:

      I see the site is invaded by the LOOP MONSTER again.

    5. aljamo says:

      So in the end if you are unable to pay the debt the jailers get paid for jailing you. Fail safe income for the jailers. Maybe work off the debt while in jail for double dipper jailers. Bennies include three hot slops and a cot.

      • Winston Smith says:

        Who do you think owns the jail? I am willing to bet that many of these debt collection agencies are also invested in America’s for profit prison system. Thus, they make money off it either way.

    6. Uzziel says:

      So… shoot the f***ers, as they appear, then.

      Problem solved.

    7. Anonymous says:

      A tax write off and cash to boot. Who allowed the banks to pull that off?

    8. Menzoberranzan says:

      Keep on threatening people. Someone will bury the debt collectors literally.

    9. WhoWTFKnows... says:

      This article fails to mention consumers rights regarding debt collectors. They harass you, you can sue them back for illegal collection tactics and win. Like no more than one call a day, or cannot call you at work, or No calls past 8pm..

      Or just tell them to go pound sand. Phone block them if they call and just another reason you don’t spill your gut about your life on FaceBook Gossip -Facial ID recognition program, showing off your new boat you just bought and brag you paid for it with cash.

      I don’t have any debt, and so I am not worried about this. Good luck debtors, when they crash the economy and you are still deep in debt, and still obligated to make payments for your house, car and everything else.

      Sell your over priced houses in the city now, pay off all your debts, and move to the country where freedom still rings. I go sometimes weeks at my BOL, where I am not spending any money at all. There is no reason to… No Utility Bills, nothing but Cell phone bill, Internet, auto Insurance, and annual property taxes, which are just $100 per acre. Seek your Freedom too.

      ~WWTI…

    10. Debt sucks. Seldom lend and never borrow, that will save a lot of sorrow.

      The best way to deal with debt is to not buy anything with credit with the possible exception of a home. Keep your expenditures low enough that you can afford to put aside for unforeseen events.
      Things to save for include car maintenance. Tickets/traffic violations/car registration major car failure or damage from accident including hit and run while car is parked. Stolen car.

      Job loss

      Major illness or injury

      Etc. etc. etc.

      Your house note should not exceed one weeks net pay. This used to be standard.
      Live with parents and save until you have a huge down payment if not the entire cost of a house.

      Don’t buy furniture. Buy a house. Furniture does not have to be fancy. Keep clean and organized. Children don’t need a lot of crap to be happy. Give them a box, a coffee can, a wooden kitchen spoon and not some lead painted plastic from China.

      Get married and stay married. The spouse may be a drag but divorce is expensive. The next person is going to be worse than the one you have now and divorce really is bad for the kids. So put up with her/him. You’re no prize either.

      • Archivist says:

        Don’t loan money to someone unless you are fully prepared to never see that money again. In other words, make it a gift instead of a loan if you really want them to have some money.

    11. TEST says:

      Oklahoma Surgery Center. Doesn’t take Medicate or Medicaid, but charges only 20% of normal costs if you pay cash. Medicare pays 80%, you pay the rest. So, what exactly what are you getting for that other 80%? Nada.

    12. Archivist says:

      I had one of these butts call me about a credit card that my mother still had a little balance on when she died. The guy was cussing a blue streak. It didn’t help when I told him that my mother owned absolutely nothing when she died but her home, and that the home passed free and clear to me when she died, and that based on NC law he was just SOL.

      Boy was he hot!

      • Archivist says:

        BTW, if you have relatives who will soon be passing, make sure their assets have been taken care of well beforehand. I think real property has to be transferred at least three years before death to keep Medicare from taking it to pay for rest home care, etc. Make sure all liquid assets are either out of their names or jointly in theirs and your names with right of survivor. Various types of trusts can help if there are more substantial assets. If you are in that situation, check out a good estate planning attorney as soon as possible.

      • smokey says:

        My father and mother both passed away within two years of each other, both times I got bills or calls from pharmacies about prescriptions they had filled and needed payment for.

        Both times the dates were near or after the dates of death. The prescriptions were never picked up, they still had them on the shelf.

        Told them they weren’t getting any money. Several hundred bucks in total.

    13. TEST says:

      Need to keep costs down? COBRA health care was 1k/month for us. Health sharing plan? 300/month, EXACT same coverage. We use Liberty Health Share.

      Another tip. Not rocket science – keep your transportation costs to a minimum. I am 62, and until we bought a lower end Altima two years ago, my wife and I together, in 45 years of driving, TOGETHER had spent about 50k in cars TOTAL. Or as much as one nice SUV that all my neighbors seem to buy every 5 or 6 years times two (one for her). All to leave in the driveway and depreciate. All that saved money went into savings, so while we have nice nest egg, these neighbors can drive by the junk yard and see what they spent tens of thousands on (repairs, insurance, etc.) now as rusting hulk of iron.

    14. Asshat says:

      Years ago my wife and me defaulted on a heathclub membership. Gyms go out of business all the time. We said screw it were not payin. So they harassed us with collectors. The statute of limitations has run out and collection agency’s still try to get us to pay. Why would we pay now there is no legal recourse anymore. This is the only thing we didn’t pay ever. It has never stopped us from buying vehicles or the house.

    15. Asshat says:

      Playing the debt game is how people make $. You run up a debt miss payments then they contact you to collect you tell them you lost your job or whatever. They will try to settle with you even for less$ you get them to settle for much less the debt is settled now. Wash rinse repeat. It works for taxes too sometimes. Municipality’s are strapped they don’t need another tax default. When your the one with the $ if your smart and know how to deal you can get deals done in your best interest. This is what trump has done to become rich on a different level of course. the debt I had with the fitness club years ago started out as me owing them around $800 the collection agency wanted to settle with me for $400. I never paid squat the limitations ran out on the debt. I suppose they could’ve reported it to my credit but never did. Why probably because it’s more headaches than it’s worth. If you look at it from a business standpoint it’s smart. I’ve always said being able to make a deal is an art. Trump understands this IMO. I still think he’s a flake though.

    16. stevie says:

      SOME of these are trying to collect long past statute of limitations:
      WARNING – NEVER EVER pay even one dime on debt past statute — or it REVIVES the statute and legitimizes suit against you! They will beg, promise, anything to get you to give them the fatal dime
      Also,
      IF sued by a debt collector on debt past the statute, RESPOND IN COURT to avoid default judgement. Point out to judge that debt is past the statute, AND COUNTERCLAIM for $500 for the FDCPA violation of suing or threatening to sue on past-statute debt.
      If within the statute, demand IN COURT a paper trail showing that this is the party authorized to collect.

      • CT-Hilltopper says:

        And don’t ever promise to pay, which also resets the clock on your debt.

        What these people do is buy “settled” accounts, and most of these accounts are well outside of the statute of limitations. Then they try to harass you into acknowledging the debt or promising to pay them to shut them up, which in effect starts the clock ticking on your account again.

    17. TennesseeGuardian says:

      There is a way to completely stop a collection agency. If you have a legitimate debt with a creditor and that creditor sells to a collection agency, then you do not have to pay this third party anything. The reason is that you do not have a contract with them. They can threaten all they want but you can not be forced to do anything if you did not have a contract. Be careful in how you respond to any offer of contract with them. If they send you a bill and you agree to pay them something then you have contracted and you are stuck. Then there is the question of a legitimate debt. Since there is no lawful money in circulation no debt can be paid. You can only discharge the debt by giving a promise to pay such as in using Federal Reserve Notes.

      No one in America has had the ability to pay a debt since
      1933. Lawful money is gold and silver or currency backed by gold and silver. Federal Reserve notes are not lawful money.

    18. Satori says:

      Italian court rules food theft ‘not a crime’ if hungry

      ht tp://www.bbc.com/news/world-europe-36190557?utm_source=fark&utm_medium=website&utm_content=link

      let the discussion begin !

      “The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread.” Anatole France

    19. Majik8ball says:

      Can the banks pay their debt? Can the government its debt? No, they both can’t even with free money!

    20. Diana Manwaring says:

      The thing that people need to remember about these debt collectors is that debtors still have rights. If, for example, you are on Social Security or disability, that income CANNOT be touched! It doesn’t mean that the debt will be waived but at least those folks don’t have to worry about losing their ability to pay for food, rent, etc.

      If a debt collector repeatedly harasses you they are breaking the law. Also, a debt collector has no right whatsoever to tell your friends, family, neighbors, boss, or whoever about your debt. They are breaking the law if they do so.

      Don’t forget about the statute of limitations. In most states debt sol is 6 years. However, some debt is exempt, like child support and unpaid taxes and college loans.

      If a debt collector calls you repeatedly, report them for bothering you and use a call blocker.

      If you are contacted by a debt collector about a bill that has passed the statute of limitations, do NOT discuss this debt at all with them, either by phone or mail. If you do, that debt “clock” could be reset to zero and you would be liable for it, depending on what you say. It would be best to let old debt go.

      Don’t let these crooks get you down. Contrary to what some say, there is still NO debtors prison!

      • john smith says:

        If you owe the IRS, I thiink they can garnish part of your disibility or social security. The IRS can also freeze your bank accounts and credit cards, it happened to a friend of mine.

        • sixpack says:

          The SS dept says THE ONLY THING they can garnish from your SS check is child support, and that was a separate law. I don’t owe any, so I don’t know but what the SS office told me.

    21. Alexandria Monrovia says:

      Get a load of this horse s— fascism coming out of Oklahoma. The Oklahoma state police are shaking people down. They are paying the company of the software scanners $5,000 plus 7.7% of all the money they steal from the public.

      Its for the children and to keep us safe from the terrorists (sarcasm)

    22. stevor says:

      ignore them for seven years and you’re off the hook.

      • Moose says:

        stevor, no, they’ll just “roll it over” prior to expiring and it will continue until your death. THEN they’ll go for your spouses throat (if possible).

        NO court can legally place anybody in “hardship” that would cause ruination of their life, in whole or part.

        As the lady said, YOU (the Debtor) have rights and a great deal of them. If you are a 100% disabled veteran collecting VA Disability and thus SS Disability both incomes are exempt and untouchable by any creditor, especially a ‘credit card unsecured debt’. (They tell you lies galore, but that IS a law put into effect not that long ago to protect the vets that were being fleeced by American Courts across the nation. Now, it has come to a screeching halt). For a 100% disabled vet, he or she is only liable for VA ‘overpayment’ and ‘back-child support’ (no other exceptions, period). End of discussion on that much. Your car? You MUST have a vehicle, (but no luxurious items like boats, jetski’s, etc), and your home is also quite safe in most states (it costs a LOT of money to place a lien on a property and most collectors are too numb or broke to trying “the long run” …they go for the throat of those with no protections or exemptions protecting them.
        I have read that AMEX never sells their debts, but instead retain them for years and retry about every seven to ten years ….for vets that are forever exempted or those on SSD, it’s written off and forgotten for the greater part (yet I imagine this constricts them from buying a boat, newer cars …or perhaps not). I am certainly not a lawyer (and to go ‘pro se’ is akin to operating on yourself with a surgeon on the phone giving your instructions).

    23. Harry says:

      It’s called call blocker

    24. boyo says:

      About two years ago I received this piece of mail from a collections agency. They were looking to collect late rental fees on some movies I had rented from Hollywood Video that had gone out of business as a whole , years earlier.
      I recognized the movies as not being the last movies I had ever rented, and since their basic policy was you can’t rent another movie if the previous movies were excessively late and not paid off, I felt pretty good knowing I was actually in good standing with the company before they disappeared and this was a fishing type expedition for money.
      For some $20 bucks in back rental fees they say I owed (I never would let that happen) when I know I didn’t, knock your socks off filling out the paperwork and come after me.
      If I knew I owed, I would have payed the failing company I patronized frequently because of service (and they weren’t Blockbuster- and they were two towns over.)

      Lot’s of rats out there….

      • Lord Byron says:

        Yeah, debt collectors are some of the worse scum on the planet, especially when you realize our monetary system itself is a total fraud. Check out Tom Schauf’s research on this if you haven’t already.

        But everyone should always check their statute of limitations and FDCPA laws. These guys are so stupid they violate laws all the time. Always push back and report them to the Bureau of Consumer Protection. Granted, I hate running to the government over anything, but these losers will harass you over debts that you don’t even legally owe. Using the government is the only way I know to get them to leave you alone.

    25. Mr Smith says:

      I once had gipsys sent round to my house to collect on a parking ticket that was sent to my previous address.

      I recorded on tape this man with his gold buillion chains and tatoo’s saying “I will stich you up, sow you up” and when i got on to the corts about this then i was told that the court was prevented by law from acting against the debt collectors.

      Yes this story comes to mind when ever i fill in my tax returns and makes me work even harder to ensure i don’t pay a penny more than i need too.

      Our legal system is nothing more than kangroo courts ran for the elite by the elite and out judges are nothing by scum.

    26. Ted McCullough says:

      Just another reason that kids in high school should have some money managing classeS. Used to be in the old days you saved for a house or you build a basement and lived in it while you build the rest of the house. Now it is all instant gratification But in this economy you almost have to have a credit card because there are so many low-paying jobs and if you get hit with a transmission going out, or a refrigerator blowing up you almost have no choice but to use a credit carD. There is no personal responsibility anymore in this country I won’t be a bit surprised if the lawyer start suing the auto manufacturers if you run your car into a telephone pole drunk. But once again the politicians will not do anything to make a happy medium for the consumers and the lenders it’s always in favor of the lenders. And these medical bills are just completely out rageous. Obama care was what 2000 3000 pages long? You should have been able to fix healthcare on one sheet of notebook paper. We have over complicate our lives so much. All these politicians that let our job to go overseas, this is just another byproduct of what happens when people don’t have a decent paying job. I heard yesterday that American Standard is talking about moving to Mexico they’re the ones that make the toilets and sinks etc. Carrier air-conditioning is moving to Mexico they said it was to stay competitive in the market well you look at their profit for last year $15 billion! They are moving there to make even more billions and give their CEOs and stockholders more bonuses. Greed has ruined this country completely. Time for term limits on all politicians including those dust balls on the Supreme Court

    27. swinging richard says:

      It is sad that the debt collectors are not controlled by the law. That being said, make borrowing your last resort.

    28. Kevin2 says:

      Off Topic Kind Of. This is what is coming.

      h ttps://www.youtube.com/embed/hLpE1Pa8vvI?autoplay=1&autohide=1&showinfo=0&iv_load_policy=3&rel=0

    29. GrandpaSpeaks says:

      We “Greeced” some folks.

    30. Worse is the way banksters/credit rating services now lower your credit rating if you do not maintain at least 4 lines of credit. Then msm publishes endless articles about maintaining a high credit rating. Endless push to stay in debt. If you don’t maintain that level of debt, your interest rates become astronomical quickly.

      No one is asking how a bankster can borrow a billion dollars, loan that billion dollars, write off nine hundred million dollars, and still stay in business. That nine hundred million dollar tax write off is corporate welfare. All the whining about some idiot have a couple babies on the dole… is petty cash compared to the corporate welfare adding up to all our taxes plus 20 trillion debt and we can’t write it down… unconstitutional for our country to not pay it’s debt. You have to be in debt to continue the system.

      Self-sufficiency brings down the house of cards. No debt. Every dollar you spend in the Market Economy is predicated on bankster credit lines and feeds the monster.

      • Dave says:

        In response to No credit lower credit score how TRUE. we recently started the process of purchasing a parcel of and. we wanted to put our sons on the loan for legal purposes in the future. we were told that since they had ZERO credit history their score were tooooooooo LOW to be considered. They are 27 and 24 respectively and have ZERO debt. Pay everything in cash or on a CC that is paid off every 2 weeks. Both have high paying jobs for their ages and alot of $$$ in the bank and other assests.

    31. Kevin2 says:

      As bad as the bankers are you pay your damn bills. You lose you job due to free trade I have sympathy. You have that job and buy what too much home and then lose your job? I feel sorry for your job loss but damn, you don’t go into excessive debt.

    32. mdiw says:

      See Diana’s pot above. If debt has exceeded statute of limitations it is no collectable. This is referred to as “time barred debt”. If they set a court date, by all means do appear and use this as your defense. The debt collector leaves with empty hat in hand and the ordeal is over. If you foolishly ail to appear, a judgment can be rendered against you in your absence.

    33. Beaumont says:

      They say that someone with $10 in his pocket, and no debt at all, is richer than most, and, at least, I’m that kind of rich.

      Maybe, for that reason, I see the situation from a detached perspective, not beholden to one side or the other.

      Or, maybe, I just resent the asshole, chained to his man cave, in the illustration.

      This exposé is possibly tax-subsidized and intended to be reverse-psychology. It’s a commercial, to buy people’s debt.

      It’s somewhat along the lines of a war bond, backing the state’s pivotal industry.

      Self-righteous people are complaining about a form of welfare, that pays for refried beans, not about one which builds sprawling infrastructure, plates mansions in gold, or just installs a cheesy swimming pool.

      And, if you pick the wrong kind of debt to complain about, the proverbial swine will turn and rend you, in defense of his reason to live.

      If you want to be somewhat culpable for his degraded level of existence, a trough which he defends so ruthlessly, with sharpened tusk, you might just use him.

      If you want to simply mind your own business, it may not be enough. He will never allow you to remain blameless and clean, in this game of pig wrestling.

     
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