Protect yourself from those hounds

 

There’s a piece of legislation called the Fair Debt Collection Practices Act which has been on the books since the Seventies.  There is a lot to the act, but the idea behind it is simple; lenders have a tendency to get aggressive in their debt collection practices, and there needs to be protection for debtors from such practices.  While the fact that such legislation exists is a good sign, the heart of the matter is that all laws are ripe for corruption, which is what we feel has happened to the FDCPA over the years.

After your Blood

What happens when your debts start to pile up and the man comes knocking on your door?  If you took that loan or credit from an underground figure, then that man at the door probably has some kind of heavy object in his hand… and it’s not going to be a very fun time for you.  Ironically enough, when you have enforcement like that you’re not going to see too many delinquent loans.  Lots of banks and lending institutions have learned their lesson, and lately have started copping style from those anklebreakers.   

Don’t worry; Chase isn’t going to send Joey Barosopa your way.  The comparison is strictly figurative.  But lenders and creditors have gotten a lot more aggressive, and they might even make you wish there were some physical alternative for their mentally and financially abusive tactics.  First of all, if everybody needs all these things, how come they are priced so exorbitantly?  It’s just so obvious the system is inherently abuse from the beginning.  Why do they act so surprised when we cannot afford to pay up?

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You cannot Hide

Believe us, they can find you, your money, and your assets, and they have no problem at all taking it from you.  Mind you, they won’t just be bothering you.  They love getting after your grandma, your auntie, and even your brother from a different mother.  Wage garnishment is only the beginning.  And don’t forget all the penalties and late fees you’ve collected, with interest on top of them as well.  You’re pretty much owned.  Thank goodness you have the FDCPA out there to protect you, right?

Nope, wrong.  Just read the fine print.  Most straight talking consumer advocates agree with us that the Fair Debt Collection Practice Act’s bark is much worse than its bite.  This shouldn’t surprise anyone, given the disgusting level of collusion between the world money power and our federal government.  First of all, the FTC is in charge of enforcement.  Everybody knows that those guys are just credit and banking industry stooges.  When the Consumer Financial Protection Agency was proposed and given legs, you could see these scoundrels’ true colors when they turned it into yet another gutted and toothless waste of taxpayer money.

 
Count your Blessings

It’s sad that people will accept such breathtaking greed and sociopathy from the people they elect.  Yes, it really is a shark tank.  Sure, Elizabeth Warren is running for Senate, and likely to win, and we’ve got Al Franken as well, but these are just drops in the bucket.  For now, we’ll just be fed more garbage like the Fair Debt Collection Practice Act, and we’ll be told just to be happy that we’re not living on plantations.