Interesting article on debt collection

Status
Not open for further replies.
Originally Posted By: Pop_Rivit
Not worse than murder, but it's theft and it speaks volumes to a person's moral character. If you do decide to go into debt and choose not to pay it off then you've stolen something from someone else.

It's a matter of personal values-some people stand behind their word and pay their debts. Others don't.


It's all about business. In the ideal world people will all pay back their debt and get the same interest rate, but that's not reality. That's why we have a credit rating system and businesses that will take chances in junk debts and bonds too.

Look at the debt at national level, many nations devalue their currency to avoid paying back the same amount of debt too. Junk bond traders do the same as do businesses that have junk rated credit.
 
Bring back "debtors prison"!
thumbsup2.gif
thumbsup2.gif


If someone plays the system and ends up unable to pay bills due they should be put in prison, and made to work hard labor for at least ten years.
 
Last edited:
Originally Posted By: antiqueshell
Bring back "debtors prison"!
thumbsup2.gif
thumbsup2.gif


If someone plays the system and ends up unable to pay bills due they should be put in prison, and made to work hard labor for at least ten years.


I can go along with this if you can guarantee jail time for crooked bankers-mortage lenders-politicians-lawyers-tax cheats large and small etc.

GrtArtiste
 
I know someone who had a checking account with around 20 bucks in it that he forgot about... a typical mistake, he moved and didn't tell them the new address, whatever. They charged him a few bucks a month maintenance fee until it went to a negative balance.

Then they started charging him $30 a day for "bounced check" fees for the token fee to keep the account open. They kept this going in the shadows until he was $1000 in debt. It wasn't really a "service" he was buying as a computer algorithm kept churning this thing along.

All legal, of course. And supposedly his fault.

The bank, for their part, will let it run up past the point any sane human creditor would extend debt, then go crying to Uncle Sam about all the red ink on their books, how they're "too big to fail" etc. But before this point, they claimed this debt as an "asset" that they believed they'd get back, and they were serving their shareholders, etc.
 
Originally Posted By: antiqueshell
Bring back "debtors prison"!
thumbsup2.gif
thumbsup2.gif


If someone plays the system and ends up unable to pay bills due they should be put in prison, and made to work hard labor for at least ten years.


So we should further burden an already overloaded, failed, and taxpayer (the ONLY thing most on here care about) funded (YES,ultimately even the probably lauded by many on here 'privatized' systems) with NON-VIOLENT 'offenders', just to satisfy some's draconian worldview punishment lust?!?!

Maybe we should send otherwise law abiding, but traffic violating, (NOT DUI/DWIs, etc.) citizens of this country to prisons to be beaten and raped on a daily/hourly basis by VIOLENT 'career' murderers and rapists as well?
mad.gif
 
Originally Posted By: fdcg27
While I agree that we should honor our debts and that credit terms and product prices would be better for all of us were there fewer charge-offs, creditors should also behave honestly.
In too many cases, lower income credit card users are subjected to heads I win, tails you lose treatment under the cardholder "agreement".
Jacking up the interest rate on exiting balances is a primary example of this and probably leads to an increase in defaults.
People should obviously avoid using plastic as a means of financing everyday expenses, but many lower income Americans have little choice when the unexpected and unbudgeted expense comes along.
Not everyone is as fortunate as you or I.


THANK YOU!!
thumbsup2.gif


Some, who are of a certain hardcore/extremist worldview, just have NO CLUE whatsoever, and are beyond just merely "out of touch".
frown.gif
 
Originally Posted By: FXjohn
people who pine for a Dickensian era. amazing. I hear Saudi Arabia is beautiful this time of the year.


If the US keeps pampering criminal elements and letting them get away with anything and everything I believe even YOU would prefer Arabia.

You do realize that years ago, we in the US routinely executed
criminals for gross felonies...and surprise, as a nation we were in much better shape back then.

Even very intelligent savvy people like financial expert Jim Rodgers have left the US because it is rotting from the inside out. He resides in Singapore with his wife and children.

Indeed for things like drug dealing the sentence is DEATH.
That is a GOOD thing.
 
Last edited:
Singapore is also a vicious, repressive police state that tortures confessions out of people and stifles dissent with terror.
 
Originally Posted By: Jarlaxle
Singapore is also a vicious, repressive police state that tortures confessions out of people and stifles dissent with terror.


Just recently Obama stated "we tourtured some folks"


Heard at around 1:42

The US does the same thing, it just has better PR staff...although this time they screwed up. Notice that Obama is saying that the info about the torturing of people was "accidentally" released, and that they will make sure that truths like that won't be made public again.
crackmeup2.gif
 
Last edited:
Originally Posted By: antiqueshell
Originally Posted By: FXjohn
people who pine for a Dickensian era. amazing. I hear Saudi Arabia is beautiful this time of the year.


If the US keeps pampering criminal elements and letting them get away with anything and everything I believe even YOU would prefer Arabia.

You do realize that years ago, we in the US routinely executed
criminals for gross felonies...and surprise, as a nation we were in much better shape back then.

Even very intelligent savvy people like financial expert Jim Rodgers have left the US because it is rotting from the inside out. He resides in Singapore with his wife and children.

Indeed for things like drug dealing the sentence is DEATH.
That is a GOOD thing.


wow, you're obviously a deep thinker. what the US needs is more prisoners per capita and executions. please don't breed
 
Last edited:
Jail should not be a baby sitting or free housing/gym operation for [censored] criminals. What the US needs are jails that have attached factories and workshops where inmates must learn a real skill and then use that skill to work for a living and to pay full restitution to their victims, in addition to paying full room and board, as well as job training costs. They they stay in jail working full time until such time as they have worked and paid everyone they owe, lawyers, room and board, victim restitution, etc every penny paid in full. And those that refuse to attend job training and work to pay restitution certainly can refuse and not work as long as they don't mind being locked in a cell 24x7 and not being fed. It's totally up to them.
 
Last edited:
Originally Posted By: cashmoney
Jail should not be a baby sitting or free housing/gym operation for [censored] criminals. What the US needs are jails that have attached factories and workshops where inmates must learn a real skill and then use that skill to work for a living and to pay full restitution to their victims, in addition to paying full room and board, as well as job training costs. They they stay in jail working full time until such time as they have worked and paid everyone they owe, lawyers, room and board, victim restitution, etc every penny paid in full. And those that refuse to attend job training and work to pay restitution certainly can refuse and not work as long as they don't mind being locked in a cell 24x7 and not being fed. It's totally up to them.


Exactly.

Today most cons laugh at their time in prison, it is a joke.
TV, three decent meals, a roof over their head, and rec time outside.

Sheriff Arpaio has it right. But I would like to see
hard labor for serious felonies, and the return of chain gangs.
These thugs need to hate their stay in the klink and work to pay for their stay as well. The taxpayer should NOT have to fund it entirely. Of course for the most henious crimes like murder they need to bring back execution on a large scale with the
firing squad being the most effective and cheapest method to remove these criminals from the gene pool.
 
what does any of that have to do with banks and lenders making bad loans? some people are so easily distracted by hate bait
 
Originally Posted By: Pop_Rivit
Originally Posted By: dailydriver
but for some on here of a certain ilk (and in this land in general), being in debt, and especially not paying it off in FULL, is WORSE THAN committing cold blooded, brutal, painful murder in their eyes.
21.gif



Not worse than murder, but it's theft and it speaks volumes to a person's moral character. If you do decide to go into debt and choose not to pay it off then you've stolen something from someone else.

It's a matter of personal values-some people stand behind their word and pay their debts. Others don't.


Paying original debt is enough. Paying the fees the banks can pound sand as they are not out anything but profit. It is part of business model and covers it. Having dealt with a cosigned Circuit City loan of my girlfriend now wife's ex they quickly accepted the original amount - payments made. They made no interest. What came across as $1200 debt turned out in reality to be $450 once fees and 25% interest was stripped away. The original bank hemmed and hawed about settling like this but I stated facts of selling debt gets you pennies on the dollar and they bit.
 
Stealing is stealing. There is no 'nice' theft.

All credit really does is allow people to artificially live beyond their means. While I do not agree with immediate death by firing squad, I DO believe there should be consequences...
 
I once knew a husband / wife that were planning on getting divorced and declare bankruptcy.

Before the divorce she got breast implants and other cosmetic surgery paid with credit cards.
 
Robbery has transformed into a white collar crime. (Serious crime, get a slap on the wrist because it's a more socially acceptable form of crime).
 
Originally Posted By: LT4 Vette
I once knew a husband / wife that were planning on getting divorced and declare bankruptcy.

Before the divorce she got breast implants and other cosmetic surgery paid with credit cards.



If there ever way a perfect reason to revive debtors prison this would be one of them. I'm sure the butch girls that run the woman's prisons would LOVE to take advantage of those new changes by getting themselves a new "bi*ch".
crackmeup2.gif
 
Originally Posted By: SteveSRT8
Stealing is stealing. There is no 'nice' theft.

All credit really does is allow people to artificially live beyond their means. While I do not agree with immediate death by firing squad, I DO believe there should be consequences...


It all averages out in the end. Banks still seem to make money, remain profitable and viable employers. The business model works........How you work out paying debts is personal choice and morals.
 
Status
Not open for further replies.
Back
Top