Nightmare of the Zombie Debts!

[Provost Harrison]

Originally posted by Zkribbler
Scary...especially when coupled with the new preditory lending practices. The department I'm working in now sees a lot of "collection cases."

One loan company which advertises it makes loans based upon "trusting you" charges interest rates up to 54%/year. And I see tons of credit cards and car loan cases with loans up to 30%. I saw one $10,000 car, which would cost $40,000 in payments once interest was figured in.

Agreeing to pay 30% interest is why you guys can't make your payments!

I went to my bank, whom I've banked with for many years, and they offered me a loan at 20% interest...I told them where they could stick it

[Dr Strangelove]

Golly, imagine having a debt years old, having forgotten about it, then it comes back to haunt you with interest just when your life was berginning to improve. I'll bet there are huge numbers of people vulnerable to this sort of heartbreak. You'd have to be a truly heartless scumbag to do this to folks. If I knew someone involved in thsi dirty little business there would be just one thing I'd want to say to him............................................... .................................................. How do I get in on this gravy train?

[Dauphin]

The only time I never clear my credit card in full each month is when I get a 0% (e.g. introductory) offer. Plus I get cashback 1%.

[chequita guevara]

Originally posted by Dr Strangelove
Golly, imagine having a debt years old, having forgotten about it, then it comes back to haunt you with interest just when your life was berginning to improve.

Well, they can only come after you if you let them. Legally they can't touch you.

How do I get in on this gravy train?

There's a list of the more successful companies doing this in the link in the OP.