Unsolved Mysteries dates from back 1987 when the TV show marked its first broadcast and had been running ever since then. This makes the show one of the longest running programs and one of the most popular, as well.
Unfortunately, the TV show speaks about missing persons among its other segments: fugitives, fraud, UFOs, ghosts, murder, and others. While some of these cases sound like pure science fiction, the ones referring to missing persons are as real as it gets. Several missing persons are borrowers who have become victims of predatory lending.
What do abusive debt collecting practices involve?
Predatory lending is a criminal phenomenon that has beaten the acceptable limits. The abusive debt collecting practices endanger the lives of borrowers who find themselves unable to pay back the loans.
While authorized lenders follow the Fair Debt Collection Act, the predatory lenders apply other methods of debt collection. Here are a few examples of abusive debt collection practices:
- False statements - claiming to be attorneys, claiming that the borrower has committed a crime, pretending that the sent papers are legal forms, while they are not, etc.
- Harassment - using threats, violence, making the borrower's name public, using profane and obscene language, etc.
- Threats that the borrower will be arrested, have his/her property sold, take legal action against the borrower.
- And last, but not least, use violence or other actions against the borrower, limit the borrower's freedom. There have been cases when the borrower has been kidnapped.
The latter is the cause of the names of borrower's figuring in the missing persons’ list. Therefore, it is highly recommended that people looking to borrow money pay attention at who they are dealing with.
How can one avoid predatory lending?
When looking to borrow money, be attentive at the lender you choose to come to an agreement with. The lender must:
- Be authorized.
- Have a secured website.
- Not ask for useless sensitive information.
- Work with legal collecting agencies.
Checking up each lender you want to deal with for all the facts mentioned above may take some time. Lenders may not always be happy to offer all this information. It would be best if borrowers worked with online loan matching services.
Unsolved.Com in cooperation with Bad Credit Loans Bear Com are committed to working only with licensed direct lenders, which follow the state laws and run their business legally. Fight predatory lenders by not working with them.