31–40 of 116 posts
Federal debt? gov keep borrowing or printing more to payoff past debts college debts? hope Dems get power in DC biz debt? declare bankruptcy its hard to find a type of debt that cant just be magically blinked away with a procedural wave of the hand
Pointless unless the root cause is addressed first
Discover actually laughed at my wife when she asked about it: "you're not even delinquent yet!" We were going to be the next day, and would've liked to negotiate before that point. They have no systems for that nor (apparently) any ability to recognize it.
Their comfort zone is this system of debt collections.
Federal debt? gov keep borrowing or printing more to payoff past debts college debts? hope Dems get power in DC biz debt? declare bankruptcy its hard to find a type of debt that cant just be magically blinked away with a procedural wave of the hand
> hope Dems get power in DC And they want to do debt forgiveness as opposed to another war.
Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job. Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and to…
This, in a functional legal system, should have them immediately arrested and/or slapped with a fine.
What's with people not offering RSS?
Earlier quoted context omitted.
> Another called me work repeatedly and told my boss Even from a purely self serving perspective, why would they do this? If your boss gets mad that you have bad debt and fires you, then it’s now even less likely that you will be paying off the debt, no?
My experience with debt collectors is they don’t act rationally and once they’re able to find someone they harass you using any means necessary. The fear of being fired is a good motivator to get people to pay.
Link to Patrick McKenzie (the actual source, rather than Cory Doctorow's blogspam): https://www.bitsaboutmoney.com/archive/the-waste-stream-of-c...
McKenzie doesn't know what will fix this. But Michael Hudson, a renowned scholar of the debt practices of antiquity, has some ideas. Hudson has written eloquently and persuasively about the longstanding practice of jubilee, in which all debts were periodically wiped clean (say, whenever a new king took the throne, or once per generation): https://pluralistic.net/2020/03/24/grandparents-optional-par...
He then summarizes Hudson's position that "debt's that can't be paid won't be paid", and goes on to share a few other stories related to this problem.
As a lawyer who has fought a few collection cases, I would disagree with the notion that the collectors typically can’t document the debt. They can. Moreover the fdcpa doesn’t require the collector to prove the debt to you with absolute metaphysical certitude. They just have to verify it.
Hmmm... One would expect that the cases that actually get to the point of lawyers and courts are atypical. It seems likely that the ones who can't document the debt would probably drop the matter when first challenged, long before that stage. Is that not the case?
I serve discovery thinking they’ll never be able to respond, they do.
Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job. Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and to…
> Another called me work repeatedly and told my boss This, in a functional legal system, should have them immediately arrested and/or slapped with a fine.