Reading Time: 1 minute
Desperate Women Sells Her Twins To Settle Debt
It is hard to belive but a Chinese lady sold her twin babies to pay off her credit card debt.
Credit providers have found that when they are owed debt it is good to outsource collections to experts who can turn on the psychological pressure to get people to pay what they owe. They use various methods to exert this pressure until they drive the consumer to cough up what is owed.
A young Chinese women was put under such pressure and cracked, taking the extreme step of deciding to sell her twin babies to two separate families for a sum of $9 000 (R145 000). The children’s father wanted to use some of the money to pay off his gambling debts but the mother quickly went and paid off her credit card bills.
The twins have been recovered and handed to their grandparents while the women now faces jail time of up to 10 years.
Not too long ago an American women was also arrested after selling her kids for around $2500 to pay off her drug related debts. The police fortunately found her son when they raided the house of the drug dealers to whom he had been sold after his having been there for only a few days.
This just goes to show how desperate people become when faced with pressure relating to their debts. Many people make very poor decisions when dealing with ongoing collection related stress. If you are struggling with debt then rather than do anything foolish talk to your local Debt Counsellor and get some advice.
Reading Time: 4 minutes Who Does a Debt Counsellor Work For? Consumers who enter debt review are told that they will have to pay fees for the service. The fees are paid via a Payment Distribution Agent to their Debt Counsellor*. These fees would … read more
Reading Time: 3 minutes ONE Increase Cover For Those Under Debt Review Insurance company ONE has long been an industry leader in the field of specialized insurance for consumers under debt review. Now they are pushing the boundaries once again as they increase their … read more
Reading Time: 4 minutes The Power of a Packed Lunch We all enjoy eating out. Having someone else do all the work and having no dishes afterwards is fun. Sadly, it is also expensive. Are you in the habit of buying lunch? You may … read more
Reading Time: 2 minutes Help Your Clients to Help Themselves Many credit providers are now offering consumers greater access to their information. Debt Counsellors benefit greatly since this means they can now encourage their debt review clients to get involved in the process and … read more
Reading Time: 3 minutes Not Paying Via a PDA Does Not Mean Skipping Debt Counsellor Fees The National Credit Act introduced firms called Payment Distribution Agencies (PDA). These firms help simplify consumer’s debt review payments and assist them to make the right payment on … read more
Reading Time: 6 minutes Just How Involved Do You Really Need To Be In Your Debt Review? Dealing with debt is stressful. So getting professional help with your debt from a Debt Counsellor can be a great idea. You can get to sit back … read more
Reading Time: 6 minutes Is Your Credit Report Saying You Are Under Debt Review But You Aren’t? When a consumer applies for debt review then their Debt Counsellor lets the National Credit Regulator (NCR) know that the consumer is interested in debt review. The … read more
Reading Time: 2 minutes Research Shows Debt Ruins Relationships Recently a Canadian debt counselling organisation (yes, they have debt review in Canada) released the findings of their research into debt and how it affects consumers. They call it the Dysfunctional Debt Survey. Debt’s … read more