Professional Debt Collecting Companies Are Paid Fees Appx 40 Times Their Collections For the US Govt
5-19-17, Bloomberg reports that the US federal government is annually dolling out an average of $1 billion to debt collectors to retrieve borrowers delinquent debt. According to joint research released Tuesday, 5-16-17 from the Consumer Financial Protections Bureau and government filings, the collecting agencies, on average, are paid nearly 40 times the value of what they collect. According to a 2015 estimate by the National Council of Higher Education Resources, a lobbying group that represents student debt collectors and servicers, close to 80 percent of borrowers who rehabilitate their debt make the minimum $5 monthly payment. That means the Education Dept is paying its debt collectors up to $1,710 per borrower to collect around $45, regardless of whether the borrower continues to make her payments.
Salvation? Luke 13:3; Titus 2:13, Revelation 19:11
1-24-20, Another historical act by this PRESIDENT DONALD JOHN TRUMP - personally speaks at the Washington DC annual 'March for Life.' There was a time in Pres Trump's past when he was uninformed and supported 'a woman's right to choose' killing her child. But then he became educated on this issue and now supports the 'CHILD'S right to LIVE!'
Sixteen min video here
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