Posted on 06/15/2014 12:50:54 AM PDT by pansgold
This advice is worth what you paid for it.
You see, after 90 days of not paying on a credit card, the bank charges it off and sells the debt along with hundreds or thousands of others to a collection agency for 1/100th of the value of the original debt. The debt buyer then tries to collect from the debtor and they keep all the money they can collect.
They will take you to court and try and garnish your wages for 6 to 8 or 12 years. That’s when you ask the court to force the new debt holder to show the court proof of ownership (paper documents) for the debt they are trying to collect for.
These creditors are buying debt with the click of a mouse over the internet and will have none of the original paperwork. The reason, it’s cost prohibitive and a filing nightmare. These creditors prefer to operate with only intimidation and threats. They gamble in getting a judgment by your failure to appear in court. SHOW UP IN COURT!
Just watch the debt purchaser drop the case and give up on collection.
I just told you what the price of gas is in Springville, California. A foothill town. There is only one place to buy gas here. Pay their price or drive 35 miles round trip to the next closest town.
Honor? Second job, third? The economy is bad and a sound job today can be outsourced tomorrow. Sure you can make some money just let us all know what corner you’re on. It’s not easy to get a job that’s the problem and the wages are going down.
What are you taking?
You’ve been retired for 25 years?
You previously said you unexpectedly lost your job.
I agree. Doc told me a year and a half ago I could expect to live for two years. I doubt if I’ll see Christmas.
Please list the post number of that for us all.
| To: Yossarian Ahhh it isn't stealing. If through no fault of your own through loss of a job or income you are unable to fulfill an agreement you entered into and had every intention of repaying.
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Yes, I forgot to mention that. After that law passed, they started changing the “due dates.” That’s how we got caught as well....same date for years, and then suddenly...we were late because they changed the date. IIRC, what they did was change it from being say, the 15th of the month, to every 28 days.
Fortunately we did not owe that much and were able to pay it off in a couple of months. I’m sure there was some kind of language in the fine print that people signed years ago that allowed them to do this...but nearly all of their customers were caught up in this. It wasn’t long after that when the great “crash” of the economy happened. It was one of the causes of it, in my opinion.
Well ... I love riding a bike and have done so for a long time ... and I also “take the lane” as we are told is the safest way to go. I guess that makes me a non-existent bug here ... LOL ...
| To: Ray76 “You are kidding, right?” No.
If you made those purchases and had every intention of paying for them and due to an unforeseen loss of work later on, how is that stealing if you can honestly no longer afford to pay the debt and keep the lights on? Please explain that to me. |
Think about it. After you’ve ruined your credit with legitimate financial sources, you might have to borrow on the street from a guy named Vito. Fail to repay Vito, and you get a busted kneecap or worse. Takes debt collection to a new level doesn’t it. Pay your debts...live free.
Where in either example does he say He himself lost a job or are you ignorant of the rules of Socratic Dialog as well?
Also, I am sorry to hear about your Mom...it is hard enough to deal with, and then to find out something like that has been going on is completely disgusting. These people have no shame.
It needs to stop now.
If through no fault of your own ... you are unable ... you entered into ...
“you” does NOT=I
People should pay their debts, even if times are hard. However, the world isn’t really that black and white anymore. Banks use predatory lending practices in their credit card business. The banks know their risks quite well and make huge profits off them.
Except for the small local banks there is no concept of honor or integrity in banking.
Ahh I see I have posed another question you can’t answer. It must be hard going through life with such limited mental faculties. My condolences to you and your family.
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