A reader sent me a link to the a series that the Boston Globe is running about some horrible debt stories. The series is aptly titled Debtors’ Hell.
There is actually so much information there that I’ve been reading and I still have more to read. There’s personal stories about old debts coming back to haunt you or how some people are having their cars seized for old debts under $500.
Reading those stories, I can’t help but feel glad that we are not in those situations. Yet, I know that we are one financial hardship of possibly being there. I also found myself getting so angry at some of the tactics that debt collectors are using. Yes, a debt means that it must be repaid. But when the tactics are shady and go behind the backs of people, therefore not letting them make the debt right before extreme measures are taken, I do not believe that is right.
With reading the stories, you’ll see what I mean.
Note: You will have to register for free at Boston.com to read the entire stories.
Interesting article. I just had a debt come back to haunt me last year, but luckily I worked something out. Scary.
*found you from networthiq*
This is why it is so important we have free access to our credit reports.
Yes, collection tactics are scary. But remember, we do have rights and collectors have to follow certain rules. If you feel they are doing something illegal to try to get you to pay, write down exactly what they did. There are organizations out there that will help you with these situations.
Fantastic link, thanks! I wonder how these collectors are getting their hands on a car for an unsecured debt such as a credit card?
A relative of mine went through the same thing. A debt for a cellphone service they never used, went to a lawyer, the lawyer after sending a letter to his home then sued and claimed an address that he had never even lived at! The court bought it, and the debt quadrupled with fees and wage garnishment began.
There is no protection for consumers. Even consumers who have NO debt can be caught in a defaulted lawsuit by an agency collecting on a debt they never even owed.