Phantom debts, real anguish

  • Article by: CHRIS SERRES and GLENN HOWATT , Star Tribune
  • Updated: March 17, 2011 - 4:39 PM

Courts impose few burdens of proof on firms seeking to collect old debts.

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hfnorthJun. 30, 10 8:05 AM

...Michele Bachmann will come down on.

nichole1957Jun. 30, 10 8:22 AM

and pay my bills because I gave my word that I would pay when I borrowed the money. Why would I care what my neighbor is doing to his credit?

observer7Jun. 30, 10 8:34 AM

they should be charged under the RICO laws or very least extortion.

mmcgraneJun. 30, 10 8:35 AM

This sounds like the police dept. Protecting their own.

bjstewartJun. 30, 10 8:35 AM

There are so many debt collectors making false claims out there and stealing money from peoples accounts and etc.... The average low class American can't afford to go to court to fight their cases plus there are some debts out there that aren't yours these collectors will claim that you made. The truth is even when you pay off a debt they don't take it off the reports right away and or the company and debt collection agency don't have the same info so your getting charged twice with ridiculous late percentage fee's tacked on to it as well. The debt collectors have put too many people in the poor house doing this and they should be stopped! Especially now with the economy in such bad shape they are taking advantage of the system and the people.

vespa50spJun. 30, 10 8:40 AM

So it must be true.

woadhylJun. 30, 10 8:42 AM

but congress is too focused on credit card fees. The legal extortion that occurs when people don't actually owe money isn't important enough to them because there aren't enough voters in that category.

vespa50spJun. 30, 10 8:46 AM

This is a great idea, some MN legislator should run with it.

potzieJun. 30, 10 8:47 AM

As usual, these credit collectors have the backing of lazy judges who just rubber stamp these judgements... i suggest filing a class action against any collection agency that does this false BS.

woodyagJun. 30, 10 8:47 AM

the words apparently mean nothing. NO credit card customer was EVER told that if they were UNABLE to make payments- in fact the debt WAS secured, by their entire lives. Everything they own could be taken. Was that in the fine print? NO. Sorry credit card companies- as soon as ANY judge with a sense of justice looks at that situation- those debts have to be called invalid. A contract, per se, means both parties are INFORMED about all contingencies. Nobody told credit card users; in fact, they were TOLD this was "unsecured" debt. All but a tiny proportion of customers always intended to keep current- the incentives to do so were huge- ruined credit is a disaster you want to avoid. But when Mom needs medical treatment? Then what? We were duped, folks- lied to, and cheated. Those debts are UNSECURED; which means the banks- allowed to exist so they can ACCEPT RISKS - lost that one. Have you noticed? In fact, banks NEVER accept risk- you want a loan? 100% of the risk is on you.


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