Feds have fined debt collector for deceptive practices
(NEWSER) - Americans burdened with old debt and low credit ratings are getting an unlikely offer in the mail: a new credit card. But the fine print explains that accepting the card means reviving debts that had expired by law, the Wall Street Journal reports. For one New York deli owner, the debt transfer was "totally worth it" because he felt "like dirt" without a credit card, particularly on dates. To get his new plastic, he paid $400 on a seven-year-old debt that, yes, was expired. Others say the practice is deceptive and illegal. More»
