Some quick links to start your Thursday. Should drugs come with a money-back guarantee if they don’t work? … Another financial crash is coming and we haven’t fixed the problems from the last one yet … Auto workers are worse off than they were 10 years ago … Free and inexpensive ways to promote your business online … Cybercrime costs the average American company $15 million a year … Who knew that St. Louis was the ultimate baseball town … You always learn something when you fail … Email mistakes that lead to people ignoring your message.
- Len Potillo, one of the most infamous names in the debt-buying industry, pleaded guilty yesterday in a $76 million bribery and fraud scheme and now faces up to 10 years in prison. Among the assets that Portillo, who ran United Credit Recovery, must forfeit: a 2008 Maserati GranTurismo Coupe, a 2007 Ferrari, a 2014 Jaguar convertible, a 2010 Aston Martin DBS Volante convertible, a 1997 Dodge Viper, a 1957 Chevrolet Nomad and Bel Air, a 2012 Aston Martin Virage and a 2011 Mercedes-Benz SLS AMG.
- Millennials are struggling with debt burdens, especially long-term debts like mortgages, student loans, and auto loans, according to new research. One-third of millennials who make more than $75,000 a year doubt they will ever be able to repay their student loans, according to the research.
- The village of Buffalo Grove, Illinois, is seeking proposals from collection agencies to help collect $385,000 in unpaid balances, like water and sewer bills.
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I am glad he is gone. I hope he does five years. People like Len Potillo have hurt our industry so much. He lied, bribed, forged documents and was an all around bad person. Bye Len.