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National Bank of Canada foreclosing Americans’ homes over credit card debt
10-06-2012, 05:24 PM #1
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
gaah.gif

Jurgens explained that one of the people targeted by the new legal tactic is 71-year-old Helen Jones, an Oakland resident who lived in her home for 37 years before Credigy sued in 2010 over $1,636 in credit card debt her ex-husband ran up. She claimed the bank offered to settle the debt and drop the foreclosure for $7,000, and that she ultimately paid them $3,800 just to get it all over with.
............

California State Sen. Mark Leno (D) filed a bill in 2011 called the “Fair Debt Buyers Practices Act” that sought to make third party collectors log the transactions that led to a consumer’s debts, rather than today’s common practice of purchasing a list of names and numbers without supporting information that proves the debt.

http://www.rawstory.com/rs/2012/10/05/na...card-debt/

Are banks so goddamned greedy that they'll take the home (which was not pledged as collateral) of a 71 yr old woman over a $1600 debt her ex-husband owned? Omg sad2.gif
10-06-2012, 05:56 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,262 Threads:1,438 Joined:Feb 2011
damned.gif Just ridiculous. Before they started running the show worldwide there were laws against this. Now they can just about do anything they want.
We live is some piss poor times.

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