Bad Paper

A New York Times– bestselling romp through the shady world of consumer debt collection by a Pulitzer Prize–winning reporter. In Bad Paper, journalist Jake Halpern tells the story of Aaron Siegel, a former banking executive, and Brandon Wilson, a former armed robber, who become partners in a quest for "paper": the uncollected debts that are sold by banks for pennies on the dollar. As Aaron and Brandon learn, the world of consumer debt collection is an unregulated shadowland, where operators often make unwarranted threats and even collect debts that are not theirs. Introducing an unforgettable cast of characters, Halpern chronicles Aaron and Brandon's lives as they manage high-pressure call centers, hunt for paper in Las Vegas casinos, and meet in parked cars to sell the social security numbers and account information of unsuspecting consumers. The result is a vital exposé on the cost of a system that compounds the troubles of hardworking Americans and an astonishing feat of storytelling.