The Money Mustache Community
General Discussion => Welcome and General Discussion => Topic started by: solon on December 06, 2017, 03:01:38 PM
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I just ran across this article from Bloomberg, about the seedy underbelly of the lending business. Payday lenders exist to collect personal information, and then sell that information to junk debt buyers. Many times, the debts are entirely made up, but the collectors keep harassing the victims. Really gets my dander up.
https://www.bloomberg.com/news/features/2017-12-06/millions-are-hounded-for-debt-they-don-t-owe-one-victim-fought-back-with-a-vengeance
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Karma, revenge, and dogged persistence has a champion...
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The article ended with civil fines, for the damage done, many should be in jail.
Ya, dander up, need a walk.
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Wow, solon, thanks for this link. Who said all superheroes wear capes?
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Wow, solon, thanks for this link. Who said all superheroes wear capes?
Wow, nobody ever called me a superhero before!
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That's amazing.
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I really enjoyed reading this, thank you for sharing the link. This would make a great movie, or at least an episode of American Greed...that show is my guilty pleasure.
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That's awesome!
I was hounded for fraud that happened in 2006- internet car loans bought a car somewhere under my name. I got confirmation from one company that it was all good. Then I started getting bills for the loan. I finally got it taken care of...or so I thought when in 2008 I had repo guys come to my door. I gave them a copy of the information from the company that it had been fraudulent and it was done....or so I thought.
In 2016 I started getting mail from another company that had bought this "debt." I decided to get my states Attorney General involved, and it's all done for now....but I still keep all of the paperwork... just in case.
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Damn, this guy needs to work for the DA. Maybe some of this stuff would actually get prosecuted.
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This was a great article. The most infuriating thing for me was the lack of action on the part of the authorities. I wonder how much wealth is "created" in this country by people like Tucker, who harvest huge sums from lowly people who barely make ends meet.
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This was a great article. The most infuriating thing for me was the lack of action on the part of the authorities. I wonder how much wealth is "created" in this country by people like Tucker, who harvest huge sums from lowly people who barely make ends meet.
Wealth creation.... another one of those used and abused sayings.
More like wealth transfer in this case.