Tag Archives: Hyenas
Foiling the Hyenas
The plunge from the easy money of the 2004-2008 era to The Great Recession hurt a lot of people. The easy credit of plastic morphed into a nightmare of bills and the inability to make even minimum payments. People who lost their jobs or were unable to afford finance charges that, in some cases, exceeded 20% annually, were saddled with debt that they couldn’t pay back, and no one game them a break. However, the banks that initially extended the bad debt, at worst case, were folded into healthy banks, and usually sold their bad debt at a deep discount – as low as 1%-2% of the total value – to companies that make their living suing those who can’t pay back their debt. How does someone in tough circumstances fight back against the hyenas?
