Posts Tagged ‘debt’

People with shaky credit are getting suckered by risky loans against their paychecks, homes—and even cars. Dragged Down by Debt | Newsweek

It’s not just Barack: Consumer debt an issue for some of state’s congressional delegation, too | MinnPost

I have a backlog of cool articles in my starred items folder in Google Reader. Here they are:

Good news from a debt-collection industry source: Collectors Face New Law in Colorado, and NY Considers Debtor’s Bill of Rights | Collection News
Countrywide CEO Gave Below Market Rate Loans To Senators From A Special “VIP Desk” | Consumerist
Subprime [...]

In almost every other state, a debt collector must file a lawsuit either immediately or within a short time after serving the summons and complaint. This means the court has an eye on the lawsuit, and the debt collectors must pay the “entry fee” if they want to use the considerable power of the court [...]

Chicago joins California and Minnesota in the news, as its civil courts try to deal with moving more than 119,000 debt collection lawsuits through the system.

According to an Associated Press-AOL Health poll, over half of those with debt (i.e., everybody) reported some physical effects of debt-related stress, from muscle tension to migraines, all the way to ulcers and heart attacks.
That’s it, Congress, the credit crisis is now a national economic and health problem.
That’s it, consumers, pay off the debts and [...]

“Two defendants have agreed to settle Federal Trade Commission charges for allegedly victimizing Spanish-speaking consumers nationwide by posing as debt collectors seeking money the consumers did not owe.” Defendants in Debt Collection Scheme Aimed At Hispanics Agree to Settle FTC Charges [FTC News]

Along with its great article on Pete Barry vs. the debt collection industry, the City Pages dug up a couple of vintage postcards used by debt collectors of yore to shame debtors into paying up.
Check ‘em out:

The Avenger: Expanded Content [City Pages: The Blotter]

The CityPages just did a feature on my colleague and friend, Pete Barry. Choice quote:
“Why did you call my client a lowlife piece of shit?” Barry asked.
He was in California, deposing a debt collector who wore a Sean John T-shirt and a look of disdain.
“In my opinion, why was he a lowlife piece of shit?” [...]

My officemate, Pete Barry, was on the local Fox 9 News last night in a story about abusive debt collectors, especially one of his clients. The segment includes some of Pete’s “greatest hits” from his cases, including some pretty impressive language and threats.