Tag: &quotBad

Reader Review: "Bad Paper"

by dpfaef (Spokane, WA): Debt collection has always had a bad reputation, this book does nothing to dispel that reputation. Jake Halpern follows an ex Wall Street Banker and an ex-convict set up shop in the Collection Capital, Buffalo, which is home to some of the largest collection agencies in the country.

Who knew that banks sold their uncollected debts for pennies on the dollar? We do know that collection agencies are unmerciful in their pursuit of money, but the pursuit of “paper” is even more cut-throat than could be imaged. Consumer Debt Collection is a totally under-regulated industry. I learned a lot about this dark side of the financial world.