Debt collecting vultures
by digby
Dday has a chilling piece up at the New Republic about debt collectors. The stories he tells are enough to curl your hair and the sheer numbers are even worse:
According to statistics from the Federal Reserve, one in seven Americans is being pursued by a debt collector, up from one in 12 just ten years ago. And substantial numbers of these Americans report being hounded for debts they do not owe. A new report from the Consumer Financial Protection Bureau logged tens of thousands of complaints claiming just this—that the debt in question is simply not theirs.
Can the debt collection industry be so careless as to continually harass the wrong individuals? The more you learn about how debt collection works, the more you’re surprised that they ever find the right target in the first place.
I have little doubt that this "industry" is one of the few that's thriving in this economy. When the going gets tough, these vultures are always circling. They make their living by subterfuge, threats and harassment.
There are rules about what these people are allowed to do but unless you enforce them, they will do whatever it takes. Know your rights.
In the meantime, read dday's piece to see just how vulnerable we all are to these lowlives. It could happen to anyone.