Re: purchasing a debt?

Posted by robert (65.19.75.231) on September 26, 2002 at 22:55:18:

In Reply to: Re: purchasing a debt? posted by observer on September 26, 2002 at 19:26:52:

I know that NOW, and what a fool I've been.
But what I really was asking was –isn't this the
way the mob would do, does, did, buiness?
Debts were purchased, interests went sky
high as middle men became involved and if
you didn't pay up in a certain amount of time,
or couldn't , you were damaged or dead.
What's the difference? I know that I am
responsible for my debt, but the harrasment,
lies, and outrageous behavior of the debt
collecters , regardless of the LAW, has me,
my family and many, many, others I know in a
miserable catch 22. Late payment ?, extra fee,
late payments? higher interest rates, and it all
just gets you into a deeper, more desperate
situation. Is this really any different than
throwing people into debtors prison? I was
standing in line at the grocery store and the
headline in the paper was POVERTY RISING,
INCOME DOWN. The reality is that many
families, being caught in a situation that they
are partly responsible for, and sometimes, not
responsible for (because of the sinking
economy), are suffering because of the
unbeliveable actions of the credit card
companies, the "pre-approved" solicitations,
knowing that many do not read or understand
the "fine print" you know, the print in 6pt. type,
grayed back, on the back of the application
form. Is this any different than the tobacco
companies knowing that a percentage of their
consumers would die from the use of their
product? BUYER BEWARE? I'm sorry, things
are out of control, and the result is suicide,
divorce, a loss of family, friends, and
community at a time when they are needed
most. And For What?

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