Using AI to respond to a lawsuit might sound unconventional, but for one couple dealing with an old debt, it's been enough to keep things from escalating, at least for now. That situation came up on “The Ramsey Show” recently, when a caller explained she's been relying on ChatGPT to help respond to legal paperwork tied to a debt that's been lingering for years. “We've been using chat AI to kind of guide us through and so far it's worked,” she said. “We've been able to prolong it a little bit.” Facing Ol ...

Industry Trend - Debt collectors are aggressively targeting consumers [1]

Bloomberg reporters break down how debt collection firms are cashing in on "zombie mortgages," long-dormant second mortgages.Watch the full story https://t.co/UQaFbAkZ29 https://t.co/5rIXvB4O3q ...

Debt Collection Practices - A debt collector demanded nearly $200 thousand from a family fifteen years after their $98 thousand second mortgage was canceled [1] - The company foreclosed when the family didn't pay, indicating a business model [1] Potential Risks - The situation described is not a mistake but a business model, suggesting potentially predatory practices within the debt collection industry [1]

Debt Collection Practices - A debt collector demanded nearly $200,000 on a $98,000 second mortgage that had been canceled 15 years prior [1] - The company foreclosed when the family didn't pay, indicating a business model focused on debt collection [1] Business Model - The practice of demanding payment on canceled debts and foreclosing is presented as a deliberate business model, not a mistake [1]

Debt Collection Practices - A debt collector demanded nearly $200,000 on a $98,000 second mortgage that was canceled 15 years prior [1] - The company foreclosed when the family didn't pay, indicating a business model [1] Business Model - The practice of demanding payment on old, canceled debts is presented as a deliberate business model, not a mistake [1]

Fifteen years after one family’s $98,000 second mortgage was canceled, a debt collector showed up demanding nearly $200,000. When the family didn’t pay, the company foreclosed. It wasn’t a mistake. It’s a business model.Read the Big Take ⬇️ https://t.co/K33Gdw4pkM ...

Debt Collection Practices - A debt collector demanded nearly $200,000 on a $98,000 second mortgage that was canceled 15 years prior [1] - The company foreclosed when the family didn't pay, indicating a deliberate business model [1] Business Model - The practice of demanding exorbitant amounts on old debts and foreclosing is presented as a business model [1]

"I bought your house. You need to move out."Across the country, zombie mortgages (second mortgages taken out before the 2008 housing crash) are coming back to life. Debt collectors have scooped up these sometimes forgiven loans and are cashing in. Coulter Jones explains https://t.co/E5ZVkjcANN ...