A new NCLC Report is out on the student loan collection process. For those of you that don’t know already, debt collectors can be viciously greedy and completely unhelpful for people in debt. Naturally, we expect credit card companies and other profit-motivated businesses to sell or refer their unpaid debts to vicious collectors. That’s how they maximize the value of their unpaid accounts.
But the government? Surely the taxpayer-funded public-interest side of the social contract isn’t going to feed its young people to the hounds? Actually, yes they are.
And for those that are interested, here’s a related post from F* the Banks!