The rise in American consumer debt has been accompanied by a sharp increase in complaints about aggressive and sometimes unscrupulous tactics by debt collection agencies, a phenomenon that has government regulators increasingly concerned.
In April, the Federal Trade Commission, which enforces the federal law that governs debt collection practices, reported that it received 66,627 complaints against third-party debt collectors last year — more than against any other industry, and nearly six times the number in 1999.
The agencies often buy the debt from more established companies for pennies on the dollar and seek to collect even if the debt has been paid or was never valid to begin with. Sometimes, consumers pay up simply because they are worn down by threats from the companies and fear damage to their credit rating.
One New York City victim, Judith Guillet, complained and filed a police...
For many deceivers are entered into the world, who confess not that Jesus Christ is come in the flesh. This is a deceiver and an antichrist. Look to yourselves, that we lose not those things which we have wrought, but that we receive a full reward. Whosoever transgresseth, and abideth not in the doctrine of Christ, hath not God. He that abideth in the doctrine of Christ, he hath both the Father and the Son. If there come any unto you, and bring not this doctrine, receive him not into your house, neither bid him God speed: For he that biddeth him God speed is partaker of his evil deeds.
In that hour Jesus rejoiced in spirit, and said, I thank thee, O Father, Lord of heaven and earth, that thou hast hid these things from the wise and prudent, and hast revealed them unto babes: even so, Father; for so it seemed good in thy sight.
Genesis 3:18 Thorns also and thistles shall it bring forth to thee;" There is one plus to aggressive colection people when they call- it is a wonderful evangelistic tool for those who'se only motive has been trained to accomplish money to their employers pursestrings. All should keep in mind the love of money rearing it's ugly face when confronted. Seek first the kingdom of God...
In a lot of these cases the lenders are lending virtual assets to financially strapped borrowers at predatory rates. Most, if not all of these lenders risk nothing, by way of the fractional banking system that has its dogma private profits and public losses, in order to make a quick buck.
Jim, I was talking about borrowing, not lending & interest. And not every lender charges interest.
Whether the Torah forbids all interest-bearing loans, or only such loans to poor brethren (Ex. 22:25?), is a big subject. Historically, the Jews have had no worries about lending to Gentiles.
Hmmm, I guess I'll disagree somewhat with both you guys. We use to have usury laws in this country. If one went by the Old Testament, there could be no interest charged at all. e.g.,
Exodus 22:25 25. --If thou lend money to my people, the poor with thee, thou shalt not be to him as a usurer: ye shall charge him no interest.
I'm not sure where interest became allowed in the New Covenant, but it is said here,
Luke 3:13 13 And he said to them, Take no more [money] than what is appointed to you.
Nebraska use to have usury laws to stop the cutthroat lenders, but not anymore, and now they have shops all over Lincoln for example. There are unscrupulous loan companies and collection agencies out there. They need to be stomped on.
1 Corinthians 5:10 10 not altogether with the fornicators of this world, or with the avaricious and rapacious, or idolaters, since [then] ye should go out of the world.
I'm so glad that I stopped personal bankruptcy for people who lost their jobs and medical insurance. Let them suffer. Let's all pray today for the family of my pal Ken DeLay who went belly up after destroying the lives of thousands of Enron employees (some of whom are getting blistered by those bill collectors.) I'm soon going to introduce new legislation to allow thumb breaking for debtors. That will teach them huh, Neil?
Could be worse: unpaying debtors used to go to jail. Perhaps they still should (it is really a form of theft, 8th Cmdmt), but then we'd need a lot more lockups to hold them all.
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e.g.,
