Posted on 03/03/2005 12:35:33 AM PST by Graybeard58
Okay Teddy, let's make the principal amount only bankrupt proof. You know, the amount that the debtor actually received in cash, goods or services.
I am nearly willing to call 28% interest a hardship. That high of a rate makes debts difficult to repay, and is sufficient reason by itself for many to declare bankruptcy.
And yet this may sound bizarre, but history indicates that outrageous interest rates don't directly correlate with higher bank profits. A well-established bank that makes a good profit on 6% mortgages, 8% auto loans, and 10% credit cards will often find that they can't survive in markets where their only competition is a fly-by-night used car dealership or furniture store that charges 30% on their loans.
I've been in a tough, overwhelming financial situation myself before, so if you'd like to Freepmail me with some general information about your situation I might be able to offer some wisdom.
"I am nearly willing to call 28% interest a hardship. That high of a rate makes debts difficult to repay, and is sufficient reason by itself for many to declare bankruptcy."
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I wish the "New Posts" feature had a Barf Alert.
Nice photoshop.
What's sKerry holding in his hand (the guy in the back seat, at least it looks like sKerry).
I'm not going to download the pix and zoom in, I've just eaten din-din and I might chuck it up.
I'll have to dig up my pix of the current day Chappy bridge (they've added little side rails).
I had a S-eating grin on my face the whole time (knowing I was a lurker in the heart of liberal land), and when I'd finished snapping, was walking back to the car, a couple of dowdy woman asked me "Is this the bridge?".
I lost it.
p.s.
The least you could have done was put one of those big black "censored" stripes across the "bloated one's" torso, it's really obscene.
Sorry to upset your tummy, LOL:) Kerry is holding those famous ears of corn. I bet it is all perfectly clear now. Enjoy
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