Example of how lives are destroyed during a recession
This is a long but good read. Its about how repo companies, and how cheap people are willing to work for.
Guy tries to repo a truck
Repo goes bad
Victim is run over and dies
But you really need to read the article to get the whole feel for what happened.
The people that go to work for the repo company in question received very little training, work on a co-signment basis, meaning they only get paid for the repos they do, and they get paid more for a hostile repo then if someone willingly turns over a repo.
Its a tragic story of how low the need for money has pushed humanity.
I do not blame the repo people, but rather the loan companies that go to the lowest bidder doing the repo. The lowest bidder hires people as contractors who have to provide their own tow truck, which is usually rented from the repo company, the contractors have to provide their own insurance, and only get paid like $70 a repo.
For about a year and a half I worked for a cable TV contractor, we were treated pretty much the same way as the repo people. In a way, I feel a deep resentment towards the cable company I used to work for. I was working as a subcontractor of a subcontractor. I had to provide my own truck, buy my own tools, no overtime, no hourly wage, pay for my own gas,,, in the end I barely broke even. At the time I needed a job. In the long run, I would have been better off drawing unemployment then taking a job as a cable contractor.