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Debtors to be liquidated

What's on your mind?
General interest discussions, not necessarily related to depletion.

Re: Debtors to be liquidated

Unread postby TWilliam » Mon 21 Jan 2008, 23:04:28

Ahhh yes... Affluenza...

Here's the PBS program by the same name.

Good stuff... (the program, not the disease)
"It means buckle your seatbelt, Dorothy, because Kansas? Is goin' bye-bye... "
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Re: Debtors to be liquidated

Unread postby Chesire » Tue 22 Jan 2008, 08:46:05

$this->bbcode_second_pass_quote('Tyler_JC', '')$this->bbcode_second_pass_quote('Chesire', '')$this->bbcode_second_pass_quote('Prince', '')$this->bbcode_second_pass_quote('smallpoxgirl', 'I') just went through ch. 7 a few months ago. The new law isn't that big of a problem. Really it's just an issue if your annual income is over the median in your state. The credit counseling is a joke.


Not that it matters, but aren't you a medical doctor? You have one of the best-paying and most secure jobs in the nation. Why would anyone of that status have to file Ch. 7? Dumping your student loans?


The more money ya have the more expensive your vices get .
You drive faster cars , drink top shelf stuff , never settle for one call girl when you can have two . Your smokes , clothes , coffee , home furnishings and fuck toys are all from Europe . And you figure you can always pad the bill and save some next year or the year after or the year after. Until you are mess and end up as a hack doctor in the prison system cause no other hospital or practice will take ya and the IRS is collecting 42 % of your shitty check )


First of all SPG is a woman living in Montana so the fast car/fast lifestyle thing isn't her style.

I don't think it's overspending that leads to problems, it's the malpractice insurance.

A friend of mine's dad was a chiropractic doctor but lost his business because the malpractice insurance was driving him into bankruptcy.

Now he's a nurse with a M.D.


Well Tyler shit happens to people all the time because of circumstances or poor financial/life choices . There are winners and losers in the financial game and it sucks to be a loser . To bad so sad please insert another quarter to continue playing.
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Re: Debtors to be liquidated

Unread postby smallpoxgirl » Tue 22 Jan 2008, 15:31:52

$this->bbcode_second_pass_quote('Prince', 'N')ot that it matters, but aren't you a medical doctor? You have one of the best-paying and most secure jobs in the nation. Why would anyone of that status have to file Ch. 7? Dumping your student loans?


OK...first off, student loans are not discharged in bankruptcy. Second off, while yes I am a medical doctor, I'm also pretty much straight out of residency. I was in school until 2001 with no income. From 2001 to 2005 I was in residency making some money, but not very much. After residency, I was unemployed for a while, and since then I've been working at starting up a practice. My net income for last year was about $20,000. Malpractice insurance premiums have a ramp up for the first couple of years that you're in practice. When my policy is mature in 4 years, it will have an annual premium of about $36,000. Mind you I've never been sued. So yeah, malpractice is a huge expense.

True I could probably be making $100,000 per year. Realistically that would require working for someone else, probably living in an urban area, and certainly it would require seeing 30 or more patients a day. I just really can't get excited about a day crammed full of 10-15 minute appointment slots. I'd much rather take 30-45 minutes with a patient, work for myself, and make less money.

So that's part of it. The other part is that I got hooked in by a couple of the credit card companies when I was an undergrad. At that time I was broke as crap. I was going to school full time and working 30+ hours a week at a minimum wage job. I could only get minimal financial aid because my parents had too much income, but they weren't kicking any of it my way. I got offers from a couple of companies for $5000 credit limit cards. Before you know it they were maxed and I spent another 7 years in school and 4 years in residency with barely enough money coming in to meet the minimum payments. About half way through med school, the financial aid office had a snafu. My student loans were 2 months late in arriving, and I missed a couple of credit card payments. By the time I finished residency, the balances were up to about $50,000 and 29% interest. I decided that because I'm starting a practice and my income is consequently below the state median, that I should take advantage of the opportunity to declare ch. 7 and cut free of the credit card debt. I don't feel like it was a bad decision at all. First off, I paid on those balances for 10 years. The credit card companies got way more money from me than I got from them. I made a stupid mistake as a kid in getting those cards, but I really feel like I paid for that mistake adequately. Secondly, I would never have been able to get this practice off the ground while trying to pay the $2000 a month to the credit card company.

One of my big life goals is to buy some land. Some people might think I've just shot that in the foot. Realistically, who would you rather loan money to? Someone with a fair FICO and no money or somebody with an old bankruptcy and $50,000 to put as a down payment? Maybe it's a wash for the lender, but as a borrower I'd sure rather be the person with $50,000 worth of equity than the one without.
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Re: Debtors to be liquidated

Unread postby Cloud9 » Tue 22 Jan 2008, 17:40:08

I filed chapter 7 when my contractor took my construction loan and went on vacation. Nothing to feel bad about Smallpoxgirl. Banks are everything Jessy James said they were.
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Re: Debtors to be liquidated

Unread postby clammm » Tue 22 Jan 2008, 19:02:36

$this->bbcode_second_pass_quote('Prince', '')$this->bbcode_second_pass_quote('Tyler_JC', 'F')irst of all SPG is a woman living in Montana so the fast car/fast lifestyle thing isn't her style.

I don't think it's overspending that leads to problems, it's the malpractice insurance.

A friend of mine's dad was a chiropractic doctor but lost his business because the malpractice insurance was driving him into bankruptcy.

Now he's a nurse with a M.D.


Sorry, I don't buy it. I'm engaged to an MD, and her malpractice insurance costs aren't THAT much.

The average doctor has a salary of well over $150,000/yr. For the benefit of the doubt, let's say that in Montana, the doctor makes $100,000/yr (of course, this is grossly underestimated, but I'm giving you the benefit of the doubt).

Let's take a high tax rate of 35%, so now the doctor has $65,000/yr of after-tax income (again, this tax rate is high; in reality it's probably closer to 25-30%).

Let's take an EXTREME case and assume the doctor's malpractice insurance is 50% of after-tax income. Now she's left with $32,500 after all taxes and malpractice expenses. Are you trying to tell me that a person cannot live very comfortably--IN MONTANA--on $32,500/yr?

Numbers never lie.

In all reality, her post-tax and post-insurance salary is probably close to $100k, if not higher.

Also, a chiropractor is not an MD, since they don't go to medical school and don't have the same curriculum. Their salary is (usually) much less than a MD, costs are high, and margins are lower.


When you start a practice, you have no income and they want the 32,000 up front and you have student loans.

So you must be a lawyer, your perception is so screwed up.
The doctors can't charge 200 dollars per phone call, so they can't start a practice these days. My uncle is in internal medicine and he just retired early because of the malpractice so I know. Heard him talk aboutiit a lot.
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Re: Debtors to be liquidated

Unread postby smallpoxgirl » Tue 22 Jan 2008, 19:16:54

Starting a practice is like starting any other business. You're going to loose money for a while. In the long term, a lot of the financial issues boil down to patient volumes. If you're willing to schedule 30 patients in an 8 hour day you're going to make a lot more money than if you're trying to schedule 15 patients in a day. Your office rent is going to be about the same. Your malpractice is going to be the same. Your student loans are going to be the same. Clearly the margin is a lot higher with higher patient volumes. The problem is that it makes for crappy medicine. Patients don't get the attention they deserve. Physicians are harried and rushing all day long. Things get overlooked. I've given up a lot in my life for this field. Being poor isn't that big of an imposition. Realistically, long term, I can expect maybe $70,000 a year pre-tax out of this practice. I'm ok with that. It's a lot less than most doctors make, but I'm not most doctors.

As for me wining and dining and living the high life....I drive a 93 Saturn with 180,000 miles on it. I live in a 170 square foot rented cabin that has running water 6 months per year. I have a fifth of Jack Daniels that been sitting on my shelf for over a year and is still half full...so no.
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
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Re: Debtors to be liquidated

Unread postby I_Like_Plants » Tue 22 Jan 2008, 22:15:10

Goddamnit Smallpoxgirl, you're a DOCTOR you should know it's "lose" not "loose". sheesh!
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Re: Debtors to be liquidated

Unread postby vision-master » Tue 22 Jan 2008, 22:41:37

$this->bbcode_second_pass_quote('', 'A')s for me wining and dining and living the high life....I drive a 93 Saturn with 180,000 miles on it. I live in a 170 square foot rented cabin that has running water 6 months per year. I have a fifth of Jack Daniels that been sitting on my shelf for over a year and is still half full...so no.


Dang, that 5th would be empty in a week, for sure....... :razz:
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Re: Debtors to be liquidated

Unread postby Ludi » Tue 22 Jan 2008, 23:12:37

$this->bbcode_second_pass_quote('I_Like_Plants', '
')Of course in the best of times the consumer system is dehumanizing and disgusting, so even with the BK safety valve, I'm all for stopping participating in it.



Which you can certainly do, I doubt anyone is forcing you to participate in it, really.

I'm curious to know what system you would prefer to the consumer system, and if you have any ideas about how to implement it.


I personally like the sharing or gift system.
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Re: Debtors to be liquidated

Unread postby I_Like_Plants » Tue 22 Jan 2008, 23:24:33

ludi within the small groups humans lived in until a few thousand years ago, yeah, it was a sort of sharing/gift/exhanged favors sort of system.

With the large groups we have now, that's no practical and attempts to force it (communism) have been disastrous. So, the money system works best for our present large groups, but I choose to buy minimally.

Got a pair of pants for 50 cents today. W00t!

Sold a radio transmitter and key for $150, w00t!

Proceeds from the transmitter sale may go to trumpet lessons at $20 per, to a guy living about 2 miles away. I'll learn faster, be able to 'get on the road' to being a decent street-player to make the lessons self-sustaining, and I think as importantly, is buddying up to a good player who has links to bands, jams, that sort of thing.

The buying/selling system is much more "organic" out here, more social. The ham radio sale resulted in a new friend. And a new acquaintance. The trumpet thing will result in a teacher, and probably other social links and I'm not kidding, possible gigs for me. (Some things don't require a super good player, just someone to play in the background.)

Because there are so few people out here, there's quite a social web.
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Re: Debtors to be liquidated

Unread postby Flowerr » Wed 23 Jan 2008, 17:12:32

Hey, the first lesson is on me.

FIRST TRUMPET LESSON TADA!

Trombone too




Trumpet lesson videos on video.google.com for free.

seriously there are good ones there,

or pay

http://www.bbtrumpet.com/30.html

before you pay I would read all these first.

All 8 of Pops Trumpet books A-Z, FAQ, Next Level, Air on the Move, Pros Talk Embouchure, Chops Builder, 30 Minutes A Day to Better Playing & How the Chops Work.
$ ___ + 14 shipping in the US
(36 shipping overseas)

it will take you weeks to even understand these things and after a few months of reading THEN take lessons.
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Re: Debtors to be liquidated

Unread postby Ludi » Wed 23 Jan 2008, 18:18:30

$this->bbcode_second_pass_quote('I_Like_Plants', '
')With the large groups we have now, that's no practical


Sure it is. You simply need to have a large group of people with whom to share. This may not mean you will never need money, but, there is no need to be part of the "consumer system" unless you feel there is. Since you feel there is a need to be part of this system, you will remain in it, I'm certain.


Nobody will stop you from living a different way, I am convinced of it. Who cares about you unless you are a criminal fugitive?
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Re: Debtors to be liquidated

Unread postby I_Like_Plants » Wed 23 Jan 2008, 18:23:32

Let. Me. Say. It. Again. Slowly.

Attempts. To. Live. Under. Non. Monetary. Systems. With. Large. Groups. Of. People. Have. Been. Disastrous. (Communism.)

Among. Small. Groups. Like. Humans. Are. Meant. To. Live. The. Favor/barter/good deeds. System. Works. Great.
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Re: Debtors to be liquidated

Unread postby Ludi » Wed 23 Jan 2008, 18:31:02

Fan tas tic.
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Re: Debtors to be liquidated

Unread postby Ludi » Wed 23 Jan 2008, 18:34:44

Anyway, even if you think I'm a moron, I'll say some more. YOu can ignore me or mock me or whatever you want to do.


I think large groups of people can do this, they are simply smaller groups which interlock to form larger groups, this could even be a worldwide system.


Anyway, I'm sure whatever I have to say is meaningless to you.
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Re: Debtors to be liquidated

Unread postby I_Like_Plants » Wed 23 Jan 2008, 19:06:05

Ludi you may not be a moron in reality, you are certainly thin-skinned.

I agree, you can have small groups that trade etc with other groups, making a large number of people overall. But it comes down to population density - the American Indians had trade routes where they had types of stone and shells from thousands of miles away, that traveled across the US by trading. Africa had this sort of trading also.

Our modern materialism/capitalism system is unfortunately what works best when you have millions of people in one place. That should say something about how evil it is in the first place to have millions of people in one place!

You can't force huge concentrations of people to act like a small village. The Communists tried and it's always been a huge failure. What you have to do is get the population density down, as in, way down. The way hunter-gatherers live day in and day out is exactly the kind of paradise Marx talked about - his mistake was in thinking it could be done with large concentrations of humans all jammed into one place. He wanted to benefits of industrial civilization without the evils. Of course that's impossible - humans crammed together in huge concentrations are hardly even humans any more.

Here are some examples of how humans crammed into huge breeding farms, which our modern countries are, are not even humans any more:

A set of parents will kick their kids out at age 18, or 16, or 14 (it's not uncommon) without any concern as to whether they'll even have food.

Pair-bonding is screwed up, and divorce, casual sex, prostitution, and perversions like pedophilia are common.

50,000 people a year in the US killed by cars and this outrages no one. Far more than this injured in "life changing" ways - that means they become homeless etc.

Families spend hours staring at a video box (computer or TV) and hardly talk with each other.

With no feeling of kinship for others, any extra money a person makes is spent on things - new car, hookers'n'blow, etc.

Work hours trending longer and longer, where in every other type of society work hours trend lower when possible.

A solidly entrenched class structure and over time evolving into a caste structure - hunter-gatherer societies tend to run on the meritocracy principle.

A liking for processed foods, the more processed the better.

An aversion towards physical activity.

And so on.
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