The Fair Debt Collection Practices Act starts out this way:
There is abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy.
One of the things debt collection leads to that is missing to the FDCPA’s introduction is this: suicide.
The FDSL just sent me a loan cancellation letter. They have decided that they will only take federal loans now to consolidate and Sallie Mae is primarily a private lender, and that is what they report my loan as. What the difference between a federal guaranteed loan and what they consider a federal loan through a private company is beyond me.
Maxed Out, a documentary about the credit card industry, is opening today in select cities (New York, Los Angeles, San Francisco, Dallas, Washington DC, Seattle, and Austin) and next week in a few more (Chicago, Boston, and Minneapolis).
I was hoping that I could get my interest rate down and also my monthly payments down considerably. Not a chance. They even get belligerent if you dare trying to make payment arrangements. I even tried to send $600 one month hoping they would take it in good faith and they just sent it back. It’s either payment in full, or nothing so they can charge you late fees.
Does anyone out there have some advice for this guy? .—MEGHANN MARCO
Reader Maxwell writes in after having been served with a collection notice from a magazine that he’s never subscribed to. Did he piss off a 8th grader, or what?
Not all people whose accounts are sold to debt collectors are cheats and scalawags. Sometimes they’re just people who made a mistake somewhere… or sometimes the debt isn’t even valid
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