Home | About | Donate

Debt Collectors Get Away With Daylight Robbery


Debt Collectors Get Away With Daylight Robbery

Jim Hightower

I thought Donnie Trump and his fellow Republicans were big law ‘n order politicians. So, why are they trying to scrap the sheriff and unleash thousands of robbers to run wild across America?

The sheriff they want to nix is the Consumer Financial Protection Bureau.

The thieves they’re out to help are corporate debt collectors who pay pennies on the dollar for huge databases of overdue bills, then hound the borrowers to pay up.


Fortunately, the GOP has reduced itself to a disreputable leech & pariah party. Only HRC can give them the presidency. Only the Wall Street Ds can lose the Senate and the House to them yet again. And that is precisely the way they lost both of those houses in 2010, and ever since. Because they are addicted to reducing themselves to Wall Street's obedient servants. The most amazing thing about this is that so few democratic voters even know any of it. Because they choose to not know it.


All true Jim but, the Democratic Party is also filled with slime puppies who sell our lives to organized crime.

You've heard of the Payday Loan industry and their Dem stalwart, Debbie Wasserman Schultz. You know the story of the Commodity Futures Trading Act and its signer, Bill Clinton. And a hundred other such stories and Democratic Party persons.

i know you're a life-long Dem, and old habits die hard. As bad as the Republicans are, it makes zero sense to single them out for facilitating daylight criminals.


While blaming voters or vaunting the fiction that U.S. voters/citizens (as a UNIFORM group) don't care... you might wish to read David Daley's book on gerrymandering before blaming voters for outcomes which were as contrived as were history's False Flag events. Many citizens don't know about those either, and it's because Truth is kept under greater lock and key than gold at Fort Knox.


The villainy starts way before filing suit. The CFPB has gotten Bank of America to stop harassing me by phone, but they legally sold my mortgage to a "servicer" that is relentless, but at least they only pester by mail. The CFPB has also gotten TDBank off my back for exactly the kind of piddly snowball fee for which I joined their predecessor, and they've been helpful to me in dealing with debt collectors that robocall and expect me to call back without their even identifying what debt they have in mind. Um, no. I can forgive Pres.Obama and Elizabeth Warren a whole lot of other things for creating the CFPB.


Bank of America was harassing me over $175 in returned check fees from 10 years ago. The thing is I told them I wouldn't even consider paying the $175. I had deposited a check drawn on a local bank and had a balance of over $500 in my account when they bounced the checks on me. When I went to the bank to find out wtf was going on (the returned checks cost me another $175 from the fees charged by the businesses that had the checks returned to them bringing the total in service charges to $350) they informed me that they had put the check I deposited on hold. I asked the head teller why they put a local check on hold when all they had to do was call the bank it was drawn on to verify the check w.s good, which it was, they informed me they did it because they could. When they called me ten years later trying to collect the $175 + interest I just told the jerk from the bank I had his business address and if he ever called again I was going to go to his office and straighten this out once and for all, in person in the parking lot. Never heard from them again, at least as of yet. Damned banker worms are as bad as any republican I've ever met, though most of them are republicans.


Why are Republicans soft on crime? Really? Could it possibly be that they are paid to every two, or four years?


Surprisingly few people know how this works, that the banks and other lenders "sell" your indebtedness to privately owned Colletion Agencies often for less than the amount owed, then they can do whatever they like to collect it, impose "late fees" if payment on a supposedly scheduled payment plan. These fees, unless paid in full immediately, are added to the amount owed which increase the total amount of interest that will have to be paid.

The other version of the scam is "Debt Consilidation." These companies take all your debts and "negotiate" with the banks to accept a reduced interest rate if they, the Debt Consilidation companies mark the payments to the banks guaranteeing that the payments will be made if you give the agency one large payment a month. If you need to be late with a payment then they add a fee to what you owe and threaten that if it ever happened again, the deal will be off and you will be back to owing the money to the banks at thr original higher interest rate they were charging you.

I went that route but soon went back to making my own payments and the banks let the lower interest rate that the Debt Consilidation company had negotiated stand. The banks were inflexible about renegotiating the payment due date. If a payment were to be late, they informed me, they feel that they had been given the right to raise my interest rate to whatever they wanted.

It took years and careful bookkeeping and scrupulous payment making but I was able to get the debt load off my back and am now debt free and will do to remain so.

The only thing I learned was during the early stages of the debt crisis when I was getting harassing threatening calls from the Collection Agencies who had bought my debt, I could get them to back off thr phone calls and lawsuit threatening mail by saying:

"It is my legal responsibility to inform you that this call is being recorded and the contents will be reviewed with my attorneys to evaluate your compliance with the Fair Debt Collection Practices Act." Of course the calls were not being recoded and I had no attorneys.


And according to posters at investment sites, that Ft. Knox gold was found to be just tungsten steel sprayed with gold. Somebody did a Goldfinger switch a long time ago. And I really wonder why no paper ever talked about all the gold missing in the vaults of the WTC. It was supposedly the largest store of gold in NYC. But the vaults at ground zero were found empty, is what I read.

Nevermind Rumsfield's announcement the day before 9won-won that 2.3 trillion were missing from the Pentagon! We won't even go into that!

Stare straight ahead, citizens, and don't ask questions! Vote for our pre-vetted duopoly if you know what's good for you!


No need to make false threats. They are required to honor your request that they cease phoning. And if they don't, go to cfpb.gov and click on the "Submit a Complaint" link in the top right corner. You can also search to see how many other complaints have already been filed against that company. That's how I shut down BofAmerica's complaints that, though I never missed a payment on my high-interest mortgage, my payments always arrived at the very tail of the grace period. I got a letter from the bank president's office, stating that they would comply with my request that they quit calling, but whining that they were fully within their rights. And then they sold my mortgage (which they'd bought with Countrywide) to a servicer that doesn't do refis, but at least SPS only kills more trees every month.


Jim, maybe you should change the title of your article to: Debt Collectors Get Away With Daylight Slobbery. That way you can fit both the debt collectors and the politicians they lobby (bribe) for support under the same umbrella of scorn. :grin: