GE Money rips off the elderly

Since January I have spent hours helping a neighbor whose attempts to pay his creditor, GE Money (doing business as CareCredit), were all being headed off. Whether he used the website or the telephone, he was unable to complete the transaction, and was in danger of expensive penalties. Reaching a customer service rep required unusual […]

Don’t call it PACT if it isn’t one

The State of Alabama is in trouble with parents of college-bound students. Like seventeen other states, Alabama created a tuition savings program designed to cover the cost of tuition to a state college or university. The Alabama program, called PACT (Prepaid Affordable College Tuition), bears the state’s implicit guarantee that participants will save enough to […]

Collecting debts from the dead

I have an elderly neighbor who is certain to die in crushing credit card debt. So this NYT article on a “new frontier” in debt collection grabbed my attention. (Edge of the West linked to it here.) It’s a profile of DCM Services, specialists in getting the bereaved to assume responsibility for the unsecured debts […]

False promises to the jobless

Looking over Barbara Ehrenreich’s Bait and Switch, a 2005 exposé on the decline of the middle class, I found descriptions of the following three alternatives for the downsized corporate manager. Franchising, also known as “buying yourself a job,” is the purchase of the right to operate a local franchise of a major corporation. Most of […]