Friday, November 25, 2011

THE RETURN OF DEBTORS PRISONS: Collection Agencies Now Want Deadbeats Arrested

More than one-third of US states allow debtors to be arrested and jailed, says Jessica Silver-Greenberg in the Wall Street Journal.

Judges typically grant arrest warrants when the debtors have failed to show up for court dates or failed to make court-ordered payments.

Of course, the reason debtors have failed to make court-ordered payments is often the same reason they didn't pay their debts in the first place: They don't have any money.

In September, a 53 year-old woman named Vivian Joy was stopped for a broken tail-light in Champaign, Illinois. And then, because the cops discovered that she still hadn't paid $2,200 to a collection agency, she was cuffed and carted off to jail.

MORE HERE - http://finance.yahoo.com/blogs/daily-ticker/return-debtors-prisons-collection-agencies-now-want-deadbeats-172417607.html?l=1

No comments:

Post a Comment