UnThreaded | Threaded | Whole Thread (36) | Ignore Thread Prev | Next
Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Re: A new breed of debt collector. Date: 10/14/2013 4:33 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
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.

http://www.nytimes.com/2013/10/14/business/economy/patients-...


Seattle Pioneer
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (36) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement