BillBartmann, thank you for your comment. You make a good argument that the non-litigation collection model is more better for consumers and more profitable than the litigation collection model. Do you have suggestions for CFPB on how they can craft rules that will encourage the debt collection industry to use non-litigation techniques or banks not to sell to those who utilize a litigation collection model?
I would like to comment On Mr. Bartman's following quote..."their way out can be accomplished by helping them resolve their other obligations; helping them find new/better employment or providing them needed social services. " end quote.
I can state from personal experience that when our savings ran out I became eligible for in home support services in which I as an unpaid caregiver could be paid a very modest amount (at minimum wage payment) because I was a caregiver. By being an in home CareGiver, I was saving the state a lot more money than it would cost to pay me a small amount every month via in home support services.
I told this to all of my creditors, none of them cared. Then reality hit, my state agency that was supposed to help me obtain in home support services instead cast fear into both me and my parent by stating to me on the phone that whatever they paid me, they would file a lien on the home to get back if I outlived my parent. It turns out this application of the law did not apply to me. However the damage was done. I lost 1.75 years of eligibility and probably enough money to pay all of my vendors, and, I would have never had to prolong the default for more than a couple of months if any of my vendors had cared enough to just help me get through the process of applying for in home support services. But because judges have become so vindictive in their approach to credit card defaulters, judges have allowed the credit card companies to become LAZY at solving their own problems internally.
Nobody helps, everybody simply self protects their own interests first and foremost.
Moderator
1
BillBartmann, thank you for your comment. You make a good argument that the non-litigation collection model is more better for consumers and more profitable than the litigation collection model. Do you have suggestions for CFPB on how they can craft rules that will encourage the debt collection industry to use non-litigation techniques or banks not to sell to those who utilize a litigation collection model?
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Debt Neutrality Petition
2
I would like to comment On Mr. Bartman's following quote..."their way out can be accomplished by helping them resolve their other obligations; helping them find new/better employment or providing them needed social services. " end quote. I can state from personal experience that when our savings ran out I became eligible for in home support services in which I as an unpaid caregiver could be paid a very modest amount (at minimum wage payment) because I was a caregiver. By being an in home CareGiver, I was saving the state a lot more money than it would cost to pay me a small amount every month via in home support services. I told this to all of my creditors, none of them cared. Then reality hit, my state agency that was supposed to help me obtain in home support services instead cast fear into both me and my parent by stating to me on the phone that whatever they paid me, they would file a lien on the home to get back if I outlived my parent. It turns out this application of the law did not apply to me. However the damage was done. I lost 1.75 years of eligibility and probably enough money to pay all of my vendors, and, I would have never had to prolong the default for more than a couple of months if any of my vendors had cared enough to just help me get through the process of applying for in home support services. But because judges have become so vindictive in their approach to credit card defaulters, judges have allowed the credit card companies to become LAZY at solving their own problems internally. Nobody helps, everybody simply self protects their own interests first and foremost.
View this comment in the discussion thread