That’s great you got a new laptop

Hey, That’s great you got a new laptop. Life is full of surprises and sometimes they are good! 🙂 I got my annual property tax bill for my car in the mail yesterday. So did my husband. He totally surprised me when he said,,give it to me..I’ll pay it for you. I wasn’t expecting that so it sure made my day! 🙂

Here we go again. What on earth do you think is helpful about acknowledging that CC companies are for profit and that “responsible” consumers have no credit card debt? I hope you don’t hurt yourself getting off your hight horse. Savings!? You must live in a bubble not realizing that there are those not in debt who are only living hand to mouth.

I don’t understand why you think it is up to the government to control who gets credit card offers. If they send on to someone (regardless of if they qualify and what their current debt situation is) and that person accepts the card and uses it then it is that persons responsibility not the governments or the credit card companies! All that person would have to do is tear up the offer or shred it. I don’t even open them I just shred them.

If I get myself in trouble with credit cards (which I have in the past and am now trying to get it paid off and change my spending habits) then it is not the credit card companies fault because the sent me an offer nor is it the governments fault because they did not stop the credit card company from sending the offer, it is MINE and MINE alone. I don’t understand why you continually try to push responsibility off on everyone else.

Like I have said before no one held a gun to your head and said take this card and use it or even worse max it out. I know that from personal experience and I accept the SOLE responsibility because I am the one that WILLINGLY used the card not anyone else. People have to start taking responsibility instead of trying to blame others.

There is a whole lot you don’t understand. It is up to the government to pass laws to protect people from usury.

I am not trying to push responsibility off onto someone else. I would like to see some fairness and as long as Congress is in bed with the CC/ banking industry, there is no fairness.

Simple? Have you never been laid off? Have you never had a medical emergency? Have you never had an unexpected car repair bill? I pray you never suffer the way so many others have but unfortunately what happens sometimes is one gets the credit card and has to use it in an emergency or…

Everyone should be concerned about big corporations influence on the laws in this country. Do you want loan sharks writing the laws and spineless politicians who do as they say because they are dependent on them for their outrageously expensive re elections?

As many people have found out, the terms of a credit card can change and can change in ways that are not made clear on an agreement. Many people who are currenly being held hostage with ridiclously steep fees because they are unable to pay off a balance are suffering greatly. You think this is fair when a debtor is trying to repay a debt. I don’t!

I guess you are under a belief

I guess you are under a belief that the balance on some peoples cards are that way because of what they spend. It could have nothing to do with the loan shark interest fees that they applied with a very dishonest policy called universal default! HA! The little words on the applications saying “we have the right to change the terms of this agreement at any time for any reason” do not spell out what they can and will do to a person who makes a minor mistake, and it doesn’t even need to be with their co.

It doesn’t say they will raise your interest rate to loan shark fees or that it that may result in an over the limit fee and that all these fees will result in compound interest which will also be tacked onto your bill. They won’t say they will hold you hostage with these outrageous fees if you cannot pay the balance. They call all these fees “penalty” fees! So how much penalty is enough?

If you belief most of the CC co’s are moral you not very informed.

All of the financial advisors that I have read warn people to watch out for the dirty tricks CC co’s charge. I wonder why? BTW, I am not in debt. I have not had a credit card for over ten years and I have no intention of getting one. But they sure do want me! The same goes with payday loans. You should always do your homework first and choose legitimate and reliable websites, such as Tnb Loans, Lend Up and others.

Buck up will ya? 😉

I will admit that I was also lumping you (well not really you….but all of us who have been in consumer debt over our heads) in with the “We made our bed now we get to lie in it” philosophy. After reading your post and thinking about the likely scenarios I can see where you were offended and the original poster was simply painting with too broad of a brush.

I guess there are more stories out there but I’d be willing to bet the vast majority of people swimming with the sharks got there because of that new HDTV Plasma and surround sound than medical crisis or divorce.

Overall though, this particular discussion was about predatory lending and the facts are that these corporations are doing as much as they can to pile on more profits as soon as they know a person is in a position of weakness. That’s the textbook definition of “Predation”.

Very well put:

Holding people hostage with ridiculously high fees because they committed the “crime” of not being able to pay off a balance is wrong! If a person is paying every month they should not be subject to so much high fees and interest that only a very tiny amount is applied to the principle. There are violent criminals who get far milder punishment than what is doled out to someone who commits the “crime” of getting behind with a CC co.

Reading Elizabeths Warren books, she says a lot about that….how credit used to be extended only to those who they knew were most likely be able to repay.
As long as the politicians in Washington DC are getting big donations from these CC co’s though I don’t think much will change.
I think they all know the CC co’s are out of control but money talks and some of those politicians are just too greedy & spineless to stand up for what is right.
Thumbs up to Bernie Sanders of Vermont and Chris Dodd of Connecticut who, bless their hearts, have at least tried to get changes .

Zero interest cards – too good to be true?

I am very fortunate to have good credit and have received many offers for zero interest balance transfers, convenience checks, etc. and high credit limits with caps on the transfer fees (usually $50 – $99). Is there any downside in just taking all this ‘free’ money? How do banks make money on these deals? My plan is to write myself a huge check and deposit it so that it can make interest. Why does this sound too good to be true? BTW where can I make the most interest on this money but have it liquid enough to pay back when the introductory period expires?

credit-card-zero-interestI hope you heard yourself when you asked how can they make money when they give you ‘free’ money. There is nothing ‘free’ from those snakes. They are counting on you hitting on one of their hidden tricks so that you will automatically jump to the 30% rate, slammed with late fees because your payment did not ‘post’ in time, etc. These slimy organizations are known for holding you payment, even electronic ones, until a day or so after your due date, just to slam you.

At most, you might make 3% on the money you ‘bank’, because you will be making the monthly payments, and you better count on an electronic payment hitting on a holiday or Sunday or some other day when it will not get credited to your account.

I got in trouble with this ‘free’ money. Believe me, nothing is free. They will end up making money off you one way or the other.

In my case, I am not going to deny responsibility – I abused the credit. Nevertheless the companies must share some responsibility for making it look free, when it isn’t.

Re: Innocent people are harmed when someone files bankruptcy

I have been a lurker for almost a year now. I have been able to reap the benefits of being a member, and while I still live paycheck to paycheck at this point, I can actually make it week to week now. Sometimes it feels like it is impossible to make it, especially on rent week, but we always do. I may have to borrow out of my next weeks check on rent week, but we still make it when I have to do that.

I personally have never had to file bankruptcy. I lost my home 2 years ago when my husband and I split up. With no help from him, it was not easy, and that was the only bill I was not able to pay with my wages. The upside to that is this….we were living in a depressed, drug infested neighborhood, and by losing the home, I was able to get a fresh start in a good, quiet neighborhood. The house was falling apart around me, and I could do nothing about it. There was no heat and air, and my kids cut down trees that year for heat during an extreme cold snap. But it’s okay that it happened in the way it did. I am grateful for the changes that I was forced to make.

When I went to get our furnishings out of storage, I found that everything, furniture, pictures, etc., was water damaged and molded. I moved into the new rent house with a chair, 4 twin size mattresses, a tv, table, and my computer. Then I met a wonderful family who was moving into the house next door and having a garage sale of the current owner’s (her mom) furnishings. I cleaned that house after my regular job for 4 days. I was paid $100.00 cash and whatever furniture didn’t sell that I could use. I was able to provide beds for us, a love seat and 2 chairs to sit on, a butcher block table and chairs, too many things to list here.

Right now, the only thing on my credit is a lot of medical bills from when my kids were uninsured. But that has brought my score down to about 550. My husband finally got a job this year after being out of work for 1.5 years, and that has helped immensely. So, what I had to rent (stove, refrigerator) will be paid off soon, and that will be one less weekly payment. While I don’t like paying high rental prices, I know that when my income tax comes, I will pay them off and not have those payments again. Then I can focus on cleaning up the credit to buy my own home rather than rent.

If I would have been able to, I probably would have filed bk before I lost my home. But that was not possible. I know that bad things happen to good people, and sometimes you just have to do what you have to do. And not be faulted for it. Or chastised for doing what was necessary. And, as others have said, that person has not walked in your shoes and has no right to judge. I pray that something like this (bk) doesn’t happen to anyone, but moreover, I pray that they make it through, and begin to rebuild their lives and finances.

Good luck and God Bless to all of you, and thanks for having me here and letting me vent!

Thanks for sharing your story. I’m glad you are able to build things back up a little at a time. That is wonderful your neighbor was able to help you out with the furniture. I agree, no one should be chastised or judged.

Thanks pup, you are 100% right and everyone already knows that. I intentionally pay extra in many ways for the convenince of electronic payments using my convenience card. I like the convenience, itemized statement, and short term 30 day loan that the convenience card offers over cash and I am will to pay extra.

Innocent people are harmed when someone files bankruptcy

I feel that many people overlooked who is harmed when someone files personal bankruptcy. Filing bankruptcy is a very serious decision and should only be on very rare occasions. It is tempting to file bankruptcy to get a ‘fresh start’ especially when lawyers, judges, and politicians make it so easy but that does not make it right.

Honest, hardworking, decent Americians are going to eventually pay for all bankruptcies. CC companies/hospitals/banks all pass bad debt on to all of their customers through higher fees, higher interest rate on debt, etc.

If someone defaults on a hospital bill does the doctor or nurse not get paid? Of course not, the hospital just charges the next patients extra to cover the cost of the bankruptcy.

PLEASE take personal bankruptcy seriously and do everything possible to avoid it. Live within your means. Plan for emergencies. Buy good insurance. Etc…

Do you preach your same message to big business who file bankruptcy and hurt many people? Do you preach to the credit card co’ s to stop easy credit? Are you for loan shark interest that holds people hostage?

  • Abe Lincoln filed banbkruptcy twice.
  • Miltin Hershey, as in candy, filed bankruptcy 4 times.
  • Walt Disney filed,
  • Dave Ramey filed and many, many others.

They all needed a fresh start. You have not walked in the shoes of anyone who has filed.

If you shop at stores that take Visa and MC are you paying less if you use cash? I don’t think so. I sure don’t.

Innocent people who choose not to use credit cards are paying higher prices because the CC Co’s are charging high merchant fees, who in turn set thier prices higher because of this fee. Then these “nice” credit card co’s pay some who play the “rewards” game money back … our money that we paid in higher prices !!!! Oh, and it’s so sad that some believe these CC Co’s are just gving these rewards out of the goodness of their heart! LOL What heart? You’re screwed even if you don’t use a credit card! Now THAT is unfair!

I think there is also a difference. Good people, needing a fresh start ok. I know of people who go out run up LARGE credit card debt, expensive cars, etc, then file bankrupcy and start the whole thing over again….not right.

Old medical bill and debt

I have an old doctor bill which I disputed and the office never sent me another bill or took me to court etc. This bill is now over 8 years old, they recently sold it to a debt collector who is now hounding me, is there anything I can do.

medical-billStep 1: Check link below to determine your state’s Statute of Limitation to determine your legal obligation to pay.

If you are not legally obligated to pay:

Step 2: Contact Dr. Office and offer them a reasonable settlement based on what you believe you owe, not what they believe you owe. This is because you morally owe them something – I assume that was your position.

Step 3: Tell creditor to go pound sand if they threaten any legal action or to ding your credit. If Dr. Office is unresponsive, you could offer them 20% of what you believe you originally owe with no interest, penalties or anything else.

If you are legally obligated to pay:

Step 2: Tell them to send you, in writing, a written proof of the debt. If & when you receive it, send them, certified mail – return receipt, your written dispute. Wait to see if they ever respond before the statute runs out.

Step 3, offer them the same 20% – 25% of what you think you owe.

ABOVE ALL: Send no money, no agreement to pay a dime until they send you, in writing, a written agreement of payment in full.

And read this: http://www.suzeorman.com/igsbase/igstemplate.cfm?SRC=MD012&SRCN=aoedetails&GnavID=84&SnavID=20&TnavID=&AreasofExpertiseID=24

Morally of course if we owe a debt we should pay it.

There does seem to be some leeway give for time in the Bible, but I’m certainly no expert on how to apply that… and of course repayment isn’t always possible and in this case is disputed anyway.

Once a debt is 7 years old it generally is NOT reported on your credit report any more. Meaning there really is no problem other than what your conscience tells you. (not going to help with certain debts however, taxes, school loans etc…)

BUT…. there is a problem.

Once you communicate again with them you can ‘reset’ the date of the debt. It doesn’t just go by ‘date of service’ etc… if you deal with them in anyway, you can reset the date.

I don’t know exactly how this works, and would search more for this online. I’m sure Suze Orman probably covers this (not that I always agree with her, but I’m sure she would know about this if not in Ramsey (sp?) info.

We need to find out the statute of limitations for these things. I know that each state varies. Some are a little at 4 years. Others are 7 or so. If your state has a statute of 4 years, it has passed. If you can prove it, the debt is done. You are free of it.

We have had some old dogs sold to folks after 10 years, way past any statute I have heard of.

Does anybody know of a quick place to look up the statute of limitations for debts by state?

I am in CT so it looks like 6 years is my sol. Thanks everyone for the help. I am starting to think the doctor wrote of the debt and/or sold it to some scummy debt collection group. So it seems I do have a sol defense. I recently (last few days) heard a report I think on NPR radio (you can do a search) about many people who have discharged their debts thru bk, or the SOL has run out, but their debt has been sold to a collector, so the collector keeps harassing them trying to get any$.

The report said that these collectors buy your debt, for say, $10. per $100. of debt. So if they get you to pay $50.00 of a $100. debt just so you can get them off your back, they make a profit of 40% right there.

I’m going to search for the report later, and see if I can link to it. I forgot to add, in the report they said, if you think your old debt may have been discharged, ask the collector (demand) written confirmation of the original debt, eg credit card invoice, or whatever.

They can get in trouble doing that after one has filed with bk. they are simply not allowed by law to do that.

If one parent is gone all the time, then guess what?

If one parent is gone all the time, then guess what? Relationship problems come up, and sometimes divorce.

I can tell ya, it wouldn’t matter if I got rid of every luxury I have, and they are few and far between, I could NOT spend $1000 per month to pay for insurance for my family, it just ain’t happening.

I am NOT going to work another full time job, considering I have 2 right now, one is my paying job, the other is my “non-paying” job that hopefully very soon is going to turn into a paying job.

Even when answers for sources is given, there will always be people who do not want to hear it because they would rather believe the lies given by the popular media and the liberal politicians.

Even if there are 37 million uninsured, if over half of them choose to be uninsured because they are self-insured or because they are young and believe themselves to be invincible, there is no reason to believe that any of us are, as one person sent me, ‘looking down noses’ at anyone (see e-mail sent me below).

No one seems to ask CNN, ABC, NBC, or Hillary where they get their figures from and to state their source….

Health Insurance is a fact of life and is something that should be factored into the cost of living, just like car insurance, homeowners (or renters) insurance, etc. Like car and homeowners, you may need to shop around for the most affordable available.

I’m not going to waste my time looking at your other “sources” as the first one from the Business and Media Institute (whatever that is) quotes “one prominent study” but does not mention what study it is. Very poor citation.

Even by the admission of that article, 37 million Americans are uninsured. For whatever reason, health insurance and health care costs are way too high.

I’m glad you can afford it and can look down your nose at everyone on this blog.

If only we were all so wonderful.

You want to know what my sources are? The people that I speak to day in and day out. My friend, that because our company does not offer insurance, cannot afford to go to the dr and get her blood pressure meds. I know hundreds of people that can’t pay their bills, and therefore cannot afford to pay health insurance. I work in the medical field, I talk to the people that deal with this day in and day out.

In a perfect world, everyone would be able to pay for healthcare. But we don’t live in a perfect world.

Is a cell phone a luxury?

Why is a cell phone a luxury? It’s the only phone I’ve got. Did you also know there are pay-as-you go cell phones? You buy a card to get more time when you need it. No monthly bill. In any case for years I drove a vehicle that would break down every few weeks leaving me stranded, usually way out in the country, with three small children. I will not leave home without a cell phone. Not after having spent a few hours on the side of the road hoping that someone would stop because there weren’t any houses nearby or nobody was home.

As for each parent working 2 or 3 jobs you’re forgetting about parents like me. I’m not married. Are you saying that I should have remained in a verbally and emotionally abusive relationship just so we could each work 2 or 3 jobs without leaving the kids home by themselves? Not happening. I grabbed what I could and left for my sake and for my children. I will never allow anyone to put me down constantly like he did. Anything negative or unpleasant in the marriage was always 100% my fault, he was never involved even when it came to how his paycheck was spent.

Okay, if a clothes dryer is a luxury then how do I dry my clothes? The temperature is often in the single and teen digits around here during the winter. If they were hung outside my clothes would freeze into stiff boards before getting close to drying.

Try using Google. A simple query of “40 million uninsured” and here but a few websites which breaks down the 4-plus million figure and how it was determined and how it is being misused to manipulate. Everyone who is so quick to listen to the likes of ABC, NBC, CBS, CNN, Clintons, Obama, and Michael Moore, why not stop and look at the other side. To be on the list of uninsured, you only had to be uninsured at any time for the period in question. And let’s not consider the fact that nearly 45% were insured within 2 months of becoming uninsured.

Even if you hate Neal Boortz, he keeps saying not to believe everything that he says, check it out for yourself!

http://www.strike-the-root.com/4/machan/machan5.html
http://www.newsbusters.org/stories/40-million-uninsured-myth

In my profession in a design field, there is an understanding when joining a firm that you cannot moonlight performing the same type of work for which you are employed at the firm with other companies or by yourself. An exception would be if you moonlight by teaching, or by providing a service to your family or religious organization. There are several reasons stated for that. If the work you produce outside your main company runs into problems and that company you moonlighted for gets sued, the sueing party may also try to sue your main employer, even though the work you produced was not the work of your main employer.

Your main employer wants you to be rested and attentive at your work. If you are getting tired and distracted by working a second job, you might do your main one incorrectly, which can lead to errors, and eventually liability and possible job loss. There are times when a lot of work comes in to your main work, and your employer may need you to be availble to work overtime for a short duration of time. If an employer finds out that you are moonlighting, it is a demerit in your record. This has been the only point that I found problematic with Dave Ramsey’s suggestions to go deliver pizzas on your free time as a means to supplement your income. It might work in certain types of work, but not in certain professions. It’s not just realistic. So a better approach is to cut down on expenses and tighten your use of credit, and get to where your use of credit is minimal. Personally, I am not there yet, but I’m working on it. I am single, so I can’t just expect a spouse to contribute to my living expenses.

By the way, the design field is one in which when you are required to work overtime, you do so and you don’t receive overtime pay. It’s standard in the industry because everyone is considered a professional. I’m not venting here, I’m explaining, for those of you that think that at least you can get extra money by working the overtime when it’s available. In 25 years of working, only one year did an employer announced that they would pay straight time for overtime work for. On certain years, some companies gave me an extra bonus in recognition of the overtime hours worked during the year. But a bonus, as the word means, is a gift, not an obligation.

I think you are missing the point

Thanks for your advice but I think you are missing the point. You may need to work 2-3 jobs each. Even working 80 hours a week you can still cook meals, mow grass, and spend time with the family. One parent should be work at all times, 24×7. Hopefully, this will be temporary because of promotions and raises.

Tara, cut the cell phones now. Your reason for having them is completely wrong and harmfully. You should be saving all cable tv and cell phone money to pay for doctors visits and to save for the time when you can afford medicial insurance.

Define luxery. I say cell phone, cable tv, diswasher, cloths dryer, cars with power windows. Buy these things only whey all other necessities are paid for.

time managementWell, then, I must be in the 99% of the uninsured due to materialism. I decided it was more important to have a decent place to live and food to eat instead of spending at least 3/4 of my income for health insurance. Don’t know where you live but where i do jobs are getting hard to find and right now I’m only getting about 30 hours per week. Don’t tell me to work 80 hours a week. I’m working to support myself and my kids and to be able to spend time with them. Working that much would mean never seeing my kids. I will not leave my kids to raise themselves! Even teenagers need a parent around on a daily basis. Find me health insurance that doesn’t cost at least 80% of my total income and I’ll sign up. I’m not very religious yet this seems to be a very apt quote: “Judge not lest ye be judged.”

Where are your figures from? You come here and spout out all kinds of vitriol and do not quote any sources. What your son does is his own business and is not pertinent to this discussion.

Would everyone PLEASE who is going to quote some nonsensical statistics like these state your sources? I’m sick of teaching for 25 years and being so underpaid while the school makes billions. I can tell you a lot of other things I’m sick of but no one cares!

A clothes dryer is luxury? How do you think you can dry clothes without a dryer? You certainly can’t hang them outside to dry in the winter when it is 20 degrees outside. And taking them to a laundromat would cost more than buying a dryer. And if parents are working 24/7 than there is no family time. The Bible says that parents are to raise their children in the ways of the Lord. Families are supposed to spend time together-ALL of them. If one parent is always working than that does not leave any time for the whole family to be together. Nor does it leave time for church and worship. I would never choose to work instead of going to church on Sunday. I would rather do without insurance than leave my kids to raise themselves and do without the instruction of the Lord because I am too busy working to spend time with them and take them to church.