Another Form of Predatory Lending?

Saturday's Times had an article headlined "Enticing Ad, Little Cash And Then a Lot of Regret," about what Steve Cox, spokesperson for the Council of the Better Business Bureaus called "another form of predatory lending" that "generates more complaints than any other business."  The practice involves businesses that offer computers to consumers with poor credit and then deliver the computers late (or never) while deducting payments over time directly from the consumer's bank account and charging far more than the computer is worth.

Comments

[Jack Payne]

I cannot understand why so few consumers set up a debit block on their bank accounts. Designed to stop scam artists originally, this could quell all kinds of abuse, from all kinds of businesses arbitrarily withdrawing funds.

--Jack Payne
www.sixhrs.com