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With our national economic situation I began wondering how positive or negative JDB's have on our economy. They purchase debts from original creditors which allows the original creditor to recoup some of their loss and they do create jobs. But they also tend to file law suits in mass quantities and often try to charge insane fees/interest which doesn't help anything on the consumer end as a consumer with a judgment against them would be far less likely to to spend anything beyond what is absolutely necessary which could prove to stagnate economic growth.

What are your thoughts?

Posted: Thu Sep 25, 2008 11:29 am Subject: reply

good point,i have also seen on too many threads to count how many people coerced into paying a JDB instead of paying there mortgage or credit cards.like a debt there collecting is more important than there house.that is why some trolls burn me up so.

Posted: Thu Sep 25, 2008 2:32 pm Subject:

That is very good point Paul, since many of these debts are already charged off and the company has written it off as a loss on their taxes possibly even receiving a credit for it from the IRS it does further detract from other obligations that are more current.

Posted: Wed Oct 01, 2008 12:49 pm Subject:

It seems to me that most people have only x amount of dollars to spend per week, month, or whatever. If they pay part of that x dollars to a JDB, then they are not paying that money to other places.

Even the jobs that are created by JDBs are not necessarily a boon to the economy, in my opinion. If people are paying JDBs, instead of going to the movies, going out to eat, buying groceries, or whatever, then those other businesses are earning less money and therefore employing less people, which means that the employees of JDBs don't really add up to a net increase in jobs.

Just my opinion . . .