Re: Re-aged Accounts

Posted by Linda on February 23, 2002 at 12:54:54:

In Reply to: Re: Re-aged Accounts posted by Why Chat on February 23, 2002 at 11:47:30:

The state AG's didn't much like it ;) Apparently, the telemarketing pitch was misleading; people reaffirmed old debts without realizing it. I think if it has been done via mail only, with disclosure in big print, it would have gone over with people wanting to rebuild. The telemarketing ruined it, though. Telemarketers have quotas to meet, so they don't disclose properly, folks agree thinking they're just getting a credit card, then the bill shows up.....

Meantime, the CC Co. can now sue them for the debt and win. It's doomed, IMO.

Linda

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