Laura Rowley is my favorite columnist at Yahoo Finance. Below is an excerpt from one of her columns. I invited her for a cup of tea and she accepted!
In the article excerpted below, Laura mentions debt collection techniques such as calling relatives and neighbors. I recall watching a program, probably the Oprah Show, wherein a debt collector was indicating that a debt collector may encourage a debtor to sell bodily fluids such as blood to pay the debt.
Excerpt:
"Maxed Out," a documentary that opens nationwide next week, examines the dark side of America's love affair with debt.
By turns humorous and heartbreaking, "Maxed Out" exposes the targeting techniques of credit card companies (the most profitable customers are broke); the gold rush mentality in the business of debt collection; an influential credit scoring industry riddled with errors; and the power of the credit card lobby at the highest levels of government. (MBNA, the biggest campaign contributor to President Bush, was behind the restrictive bankruptcy legislation of 2005.)
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2 comments:
I went to Yahoo! Finance to read Laura C and wound up on Suze O - I will go back and read more when I get home from work later today. Thanks for pointing it out.
"People, Money, Things" - Suze Orman. She is very good.
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