Confessions of Former Debt Collectors via CNN

Today CNN is running an eye opening article about the tactics and strategies used by debt collectors or creditors.  The article covers 10 different people who used to call and harass people for a living.  They unveil some of the extreme tactics that creditors use to get money from debtors.  A common theme that is seen throughout the ten different stories is the fact that these people make their money by collecting money.

Many of these creditors are on commission and the more money they bring in the more money they make for a living. Is this the best way to ethically collect debt? We too often see that creditors will bend or even break consumer protection laws simply to make a little more money.  If they aren’t being commissioned then maybe there would be more civility in the debt collection profession.  Regardless, this is a great article by CNN – check it out. The article is called Confessions of Former Debt Collectors.