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Archive Home > 2008 > July > 28 > Lenders leading consumers down the road to debt

Lenders leading consumers down the road to debt

Shift in practices lucrative for companies, but results in more and higher fees for borrowers

By Gretchen Morgenson / The Bulletin
July 28, 2008

The collection agencies call at least 20 times a day. For a little quiet, Diane McLeod stashes her phone in the dishwasher.

But right up until she hit the wall financially, McLeod was a dream customer for lenders. She juggled not one but two mortgages, both with interest rates that rose over....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.