Comments about ‘Dave Ramsey says: Protect yourself from collectors’

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Published: Tuesday, Feb. 4 2014 1:44 p.m. MST

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A Guy With A Brain
Enid, OK

I am absolutely, positively convinced that America is on the very edge of a massive, massive economic depression, the likes of which will be far worse than the Great Depression of 1929. Back then, we had goods/products but no money to purchase it. This time around, we'll have no products but all the money in the world (hyper-inflation). Plus, worse than that, back then people actually WANTED to work and were honest. Today, eh....not so much.

So what's a person to do to plan for their retirement when the long term health of our nation's economy is surely going to fail so massively before their retirement? I used to max out my IRA but after November 2012, when it became clear there were more takers than makers (and it's not going to be reversed, folks), it's only a matter of time before the takers suck the makers dry. Then what?

How do you plan for your future if your nation has no (normal) future?

Brahmabull
sandy, ut

To Dave

Your advice is ok, but your hatred of collectors goes a little too far. Calling people "scum" because they collect debts for companies is unnecessary. First of all, the money is owed by the people they are calling. They are clearly past due. You could just as easily call the customer or debtor "scum" for getting a debt they aren't paying back. Again, unnecessary.

Second: is is flat out ILLEGAL to draft more money then the person authorizes to be taken out, unless the company has a judgement on them, then they can garnish the bank account in most cases. But these companies would be out of business if they just took whatever amount they felt like taking.

So your rant against the industry of debt collecting is excessive - if people would pay their bills and not overextend themselves there would be little need for debt collectors. Manage your finances and you will be fine. Financial recklessness in america is the number 1 reason debt collectors stay in business.

mr.tufts
Franklin, TN

Brahmabull - Some of your points are well-taken, but you're off the mark with others. Dave wasn't calling all debt collectors scum, just the ones who lie and circumvent the law in order to try and collect. And yes, these collectors ARE scum. Period. Nothing excessive or unnecessary about that!

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