The Motley Fool Discussion Boards
Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: A new breed of debt collector.||Date: 10/14/2013 4:33 PM|
|Author: SeattlePioneer||Number: 307343 of 308032|
I've been considering this issue further.
The problem is that desperate people are often easily exploited. Throw a drowning person a rope and they will grab onto it, even if there's an anchor at the other end.
Debt collectors are dealing with one variety of desperate person, and helping to create a sense of desperation.
If they create that sense of desperation and then link it to other kinds of actions they may induce people to take poorly conceived options.
Here's a similar example of that ---- dentist who offer patients lines of credit at poor terms in order to get people to sign up for loans when they are vulnerable to suggestion.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|