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Debtor's Revolt Video
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Debtor's Revolt Video
by deMolay » Fri 02 Oct 2009, 07:23:32
"We Are All Travellers, From The Sweet Grass To The Packing House, From Birth To Death, We Wander Between The Two Eternities". An Old Cowboy.
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Re: Debtor's Revolt Video
by JJ » Fri 02 Oct 2009, 07:38:32
$this->bbcode_second_pass_quote('deMolay', 'G')utsy? http://www.youtube.com/watch?v=jGC1mCS4OVo
yes, lets avoid all personal responsibility. (I presume she made all those knick-knacks behind her in her kitchen...). Yes, the credit card companies are thieves...thats what they do...but she sounds a lot like my Republic of Texas neighbors who say you don't have to pay off your credit cards because all they are selling is credit...
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Re: Debtor's Revolt Video
by SeaGypsy » Fri 02 Oct 2009, 08:25:32
No doubt what the BOA did here sucks; but I wonder how angry she really is? Damn shame she don't owe them a house she could flog it off for cash and split. Just another sign things aren't rosy in the land of the free.
Do you guys have a susnset clause on debt? I don't think so last time I looked. In Australia it's 5 years no contact.
Do you guys have a susnset clause on debt? I don't think so last time I looked. In Australia it's 5 years no contact.
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Re: Debtor's Revolt Video
by DomusAlbion » Fri 02 Oct 2009, 12:32:59
She's not being irresponsible. She offered to pay the debt back at its original interest rate or to make some type of cash settlement. Any interest rate above 20% is plain usary, especially when it is imposed after the original debt is incurred at a lower rate.
I say good for her and all who follow her.
I say good for her and all who follow her.
"Modern Agriculture is the use of land to convert petroleum into food."
-- Albert Bartlett
"It will be a dark time. But for those who survive, I suspect it will be rather exciting."
-- James Lovelock
-- Albert Bartlett
"It will be a dark time. But for those who survive, I suspect it will be rather exciting."
-- James Lovelock
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Re: Debtor's Revolt Video
by JJ » Fri 02 Oct 2009, 13:02:03
$this->bbcode_second_pass_quote('DomusAlbion', 'S')he's not being irresponsible. She offered to pay the debt back at its original interest rate or to make some type of cash settlement. Any interest rate above 20% is plain usary, especially when it is imposed after the original debt is incurred at a lower rate.
I say good for her and all who follow her.
I say good for her and all who follow her.
ok, I rewatched it; I stand corrected.
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Re: Debtor's Revolt Video
by Novus » Fri 02 Oct 2009, 16:48:39
$this->bbcode_second_pass_quote('DomusAlbion', 'S')he's not being irresponsible. She offered to pay the debt back at its original interest rate or to make some type of cash settlement. Any interest rate above 20% is plain usary, especially when it is imposed after the original debt is incurred at a lower rate.
I say good for her and all who follow her.
I say good for her and all who follow her.
+1 to this.
Just think about it. Say hypothetical CC debtor buys $10,000 worth of goods on credit and then pays back $300/month for three years. After three years hypothetical CC debtor would have paid back to the bank $10,800. Morally the debt is cleared. However because the usury the banks demand the hypothetical CC debtor could still be on the hook for anywhere from $4000-$12000. This is blood money that doesn't really exist. I am perfectly fine with debtors giving the banks the finger at this point.
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Re: Debtor's Revolt Video
by gollum » Fri 02 Oct 2009, 17:58:20
Credit card companies need to be aware that the debt was unsecured and spent on lobster dinners and trips to Mexico, so they don't have collateral and in hard times will naturally be the first one's to be defaulted on. No fool is going to go homeless, carless, or hungry in order to pay a credit card.
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