Justice delayed is still some measure of justice. Minnesota Attorney General Lori Swanson has filed suit against six of those 2,000 or so companies that ask "do you have over $ 10,000 in credit card debt?" OK, I'm rushing to judgment but I bet the whole lot are fraudulent to some degree. How do I know? I listen to their radio ads, playing at least once an hour it seems.
Some ads are absurd, like claiming because we gave the banks all that bailout money, they are now wanting to use that money to give us a break. What offends me most, though, is their suggestion that we're the victims, that we are justified in "casting off 50% or more" of those debts we freely entered into. Regardless, just call that 800 number they give have a dozen times and those big bad banks will bow before you.
No, just as a heat pump can extract warmth from winter air, these con men get paid for their services. And you pay them. Even some claiming to be non-profit really are for profit, though I suppose we could make the same charge against Minnesota Public Radio.
So I'm very glad that our AG is joining the fight. Call me a populist on this one, but I think these firms are guilty until proven innocent.
I don't know about "guilty" in the criminal/AG sense. I'm willing to give them the benefit of the doubt, too, on their ability to get you out of part of the debt that you created for yourself. My biggest problems are the obvious lying about "bailouts" and the obvious immorality about denying your freely-assumed debt (why don't you take the big-screen TV BACK?) It's even worse if you believe you are getting out of your freely-assumed debt by getting a "bailout" from the taxpayer, IMHO.
Posted by: J. Ewing | Friday, February 19, 2010 at 08:22 AM
It's no debate these guys are bottom-feeders, but does that make what they do illegal? We have to be careful not to confuse "annoying" with "illegal."
If annoying were a crime we would all be in prison or on probation. Lori Swanson is doing what AG's do: she's making headlines. It's how they run for governor!
Posted by: The Big Stink | Friday, February 19, 2010 at 08:42 AM
Even libertarians consider fraud actionable. Maybe the majority that deceive are ruining it for the few legitimate concerns, but frankly we'd be better off to get rid of all of them.
Posted by: Speed Gibson | Friday, February 19, 2010 at 10:25 AM
Now you're sounding like Obama. "We have to give KSM a fair trial [in NYC] but I assure you he will be convicted and executed."
Fraud is actionable, but what about their spiel (which is all I assume you've heard) is other than describing what they do in unclear terms? They probably CAN get you out of some of your credit card debt. HOW they do it may be incorrectly stated (or it may not), but for it to be fraud they would have to take money from you and then not deliver the service, in my humble legal opinion.
Posted by: J. Ewing | Friday, February 19, 2010 at 06:51 PM