The Debt Collector Industry Is Booming

And is another reason why average Americans are screwed. According to a report from the Roosevelt Institute – one in seven Americans are hounded by debt-collectors. That’s twice as many as in 2000 – and a consequence of a disappearing middle class that has to rely on credit cards to make ends meet since their wages have failed to keep up with inflation over the last 30 years. The new Consumer Financial Protection Bureau can keep debt collectors in check but – unfortunately – Republicans in Congress are working hard to shut down the agency by cutting off its funding.

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