Debt Heads Minis is a collection of work-in-progress vignettes on the topic of debt (duh) that we’ll be sharing here while we work on our official series, and more crucially, while we work to secure funding to sustain the full-time production of that series.
Thanks to a grant we won last year, we have successfully completed a full pilot episode (!) and are currently at work on episodes two, three, four … (!!)
If you like what you’ve seen and heard so far, it’s never been a better time to join our community and support this work by becoming a paid subscriber!
Predatory lending is the practice of lending money to people who are desperate, financially uneducated and easy to take advantage of. And it usually involves really unfair terms.
Debt Heads co-host Jamie Feldman uses the term loosely when it comes to the $20,000 of credit card debt she started paying down two years ago.
She was not a victim of the kind of predatory lending that leaves people repaying loans with massively high interest rates and unattainable terms.
She would (and does), however, argue that most lending practices from credit card companies, as they are structured legally, are predatory just by nature.
Take, for example, the practice of credit limit extensions. Especially the ones you never asked for in the first place.
This week, in part three of our four-part “How did you get into so much debt in the first place?” series, we discuss predatory lending practices, sky high credit limits and how to better protect yourself from the lure of credit card companies.
So, without further ado, let’s pretend for a few minutes that we’re Keith Morrison on Dateline and catch a predator together.
As always, stay tuned for more updates, and if you like this content, feel free to join this community and help us take on more predatory practices by becoming a paid monthly subscriber.
Love,
Jamie & Rachel, aka the Debt Heads
P.S. this episode first aired in October 2023.
Debt Heads Minis: To catch a predator