Money U: Debt Collection

Thursday, January 13, 2011

Deyanira Del Río, associate director of the Neighborhood Economic Development Advocacy Project, explores the basics of financial literacy and economic justice on Thursdays in January. This week: debt collection.

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Deyanira Del Río
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Comments [6]

Lurie Daniel Favors, Esq. from NYC

Thank you for addressing this issue Brian. It is imperative that people understand their rights when it comes to debt. If you can afford to pay your bills you should. However, in my practice I've seen people sued on debt that did not belong to them, debt older than the statute of limitations & debt that had already been paid. There is help out there for people in these situation & laws designed to protect your rights. Glad to hear this information getting out there.

Jan. 13 2011 11:52 PM
Ted from Jersey

After 9/11 I was out of work and used up my savings.
I dumped my debt on all credit cards.
The companies took me to court which was no big deal.
I figured when you have nothing, what can you loose?
I ended up getting a tax form that I had to add the debt to my tax income.
Paid the tax and now only use my bank debit/Visa card.
Though scary at first, It was the best thing I could have done.

Jan. 13 2011 11:01 AM
John from office

Hope she owes a business someday and is owed money.

Jan. 13 2011 10:57 AM
Dubya from Soho

I have no sympathy for mortgage "victims". You don't need a bank to tell you if you make $2000 a month and your mortgage is $2400, you will foreclose.

Irresponsibility, it's not just predatory lending as the lady is suggesting. I bought my home based on common sense. Passing the blame will only validate peoples irresponsible decisions.

Jan. 13 2011 10:53 AM
bernie from bklyn

uuggghhh, this woman again?
this is the same guest that thought that check cashing places exist in the ghetto as some sort of racial isolation. another book smart liberal who knows nothing about real life.
low income people are pretty financially savvy? did she just say that?

Jan. 13 2011 10:52 AM
Catherine from Rockville Centre

Hi Brian - PLEASE mention Debtors Anonymous. It's a wonderful 12-step program for people who have problems with debting.

Jan. 13 2011 10:50 AM

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