You can be jailed for debt

[daved150]

Re: You can be jailed for debt

Sucks man...and although I don't personally know you, it's very apparent that you are a hard worker. I hope you don't lose it all too bud. I'll cross my fingers for ya.

thanks dj....i've decided to switch careers becouse of all the dealers that got closed, these out of work managers up here are whoring themselves out just to get a job. what was 90-110k a yr job is mybe 40-50k now!!! i'm sorry...i'm not making you 1.5mil a yr for 50k!!! not gonna happen!! so, i'm going into mortgage loan officer (lmao!!! talk about keeping in subject). but, i'm still in class and these laws are out of control!! it seems that the fed's decided that 100% of the housing prob's were becouse of mortgage brookers...not so much the banks that gave the fukin loans, but the morgage brokers that submitted them for approval!! lol

[horsepwr]

Re: You can be jailed for debt

jeez..ain't that some shit^

[horsepwr]

Re: You can be jailed for debt

I was self-employed and kept all profit because I didn't have employees...not at my branch. What I didn't have was unemployment benefits because the market showed the industry had never had a complete die off. I figured even losing 75% of my business i still would have had enough money to pay my bills. But 100% die off I couldn't handle. I put out MASS advertising when my business came to an abrupt complete halt, and nothing helped.

damnit man!..a 75% recession and you would've still made enough to handle the bills?!! What kinda 1-man show were you running?! Really. What particular aspect of construction were you in?

[DJDIGGLER]

Re: You can be jailed for debt

thanks dj....i've decided to switch careers becouse of all the dealers that got closed, these out of work managers up here are whoring themselves out just to get a job. what was 90-110k a yr job is mybe 40-50k now!!! i'm sorry...i'm not making you 1.5mil a yr for 50k!!! not gonna happen!! so, i'm going into mortgage loan officer (lmao!!! talk about keeping in subject). but, i'm still in class and these laws are out of control!! it seems that the fed's decided that 100% of the housing prob's were becouse of mortgage brookers...not so much the banks that gave the fukin loans, but the morgage brokers that submitted them for approval!! lol

That's the kicker is all the conspiracy stuff people laugh off ends up ringing true in the end. Think about how much power the elite gained over the last ten years....

Banks are in control of everything, always have been. They are who finance the wars (usually both sides of it) and profit like mad men.

The oil tycoons are in it too now that oil has become such an integral and necessary part of everyday life. Monopolies are illegal, yet if you truly look into how everything is structured, those in power really do have a monopoly.

I hear you on the wage cut thing. That's why I went back to school. Jobs don't pay crap anymore...that is if any jobs are available in the first place. It's quite disconcerting.

[DJDIGGLER]

Re: You can be jailed for debt

damnit man!..a 75% recession and you would've still made enough to handle the bills?!! What kinda 1-man show were you running?! Really. What particular aspect of construction were you in?

Custom closets...I made a 60% profit margin. I'd only work maybe 2-3 days a week when I was doing good (I could have worked more, but life isn't about money, and I was making plenty). A houseful of closets can cost about $10,000...the average cost of a standard walk in is about $1500 and takes me less than 4 hours to do. You do the math...I did quite good I used to make more in a month, than most of my friends made in 6 months.

[horsepwr]

Re: You can be jailed for debt

killin the closets. Finish wood-work is good stuff.

[JsJs24]

Re: You can be jailed for debt

i can agree with that also, to a point...i live in the second or third forclosure capital of the world....detroit mi. and everyone i know that lost their house, lost their job first. not one of them were aboove their head until money quit coming in. i'd say i wasnt above my head until i lost my last 9 jobs!! its hard to make a living when your dealership keeps getting closed! i may still loose my house...guess i should be locked up!

You are in the state that suffered the worst job losses probably, due to the auto industry there. In your case oil prices surely had an impact on car sales, which resulted in layoffs. I have done a lot of thinking over this thread and feel that my previous post cleared up my thoughts on the situation. Oil prices were high for a year or longer, which did indeed cause major financial problems with many families. However, most states experienced foreclosures due to arm loans. And let's not forget that a lot of people lost their jobs because of the mortgage market. The more foreclosures the more banks that went under and the less homes sold which put real estate workers out of work. It is a domino effect and oil prices played their role, yet I still maintain that home mortgages were the main culprit leading up to the recession.

I hope things start looking better for you bro. That is an awful position to be in and I can't even begin to relate. The bottom line is you know what your situation is and what caused it, thus it really doesn't matter what my opinion on the matter is or anybody's for that matter.

[Dzone]

Re: You can be jailed for debt

No man has the right to judge someone who has hospital bills, radiology bills, laboratory bills, doctors bills, etc etc pouring in daily...in the hundreds of thousands of dollars$$$$, LITERALLY. Still working full time, trying to save the house and stave off bankruptcy. Anyone who looks down on someone in that situation can go to hell.

[JsJs24]

Re: You can be jailed for debt

No man has the right to judge someone who has hospital bills, radiology bills, laboratory bills, doctors bills, etc etc pouring in daily...in the hundreds of thousands of dollars$$$$, LITERALLY. Still working full time, trying to save the house and stave off bankruptcy. Anyone who looks down on someone in that situation can go to hell.

That's why I responded to Daved's post earlier. We can all voice our opinions from an economic viewpoint of the economy, but it really doesn't mean squat when real people are currently in real life situations of the worst kind. Those of you who are out of work and in debt are the only ones who truly understand the reason you are in your situation. It saddens me to hear people on this board whom I consider friends in this cyber world of ours going through tough times. I am glad however, to hear the strides being made to fix your situation and turn it into a positive. As long as you maintain a positive attitude and don't give up I believe you will find yourself in a new career where you can win back your happiness and live out the American dream. Dzone, it is great to hear that you are taking classes to be a loan officer, and I am sure you will achieve that goal. Keep up the hard work and stay focused on your objective.

I often recommend books to read for anyone interested. Well, for the situation you are in I can not think of a better one than Napoleon Hill's "Think and Grow Rick." There is a book that includes his 3 best works all in one that I would suggest. This book is a life changing book and would probably be the greatest book you ever read, considering it will have a life long impact on your life. I read that book and couldn't believe how fast I found myself working toward achieving my goals, refusing to quit. Then, after reading it I was talking to one of my close friends from back home who's dad happens to be a multimillionaire. Well, it turned out his dad read that same book and within a couple years was off to making his millions, and credits the book for his success. It is available on audio for those that like to listen to books while they drive.

[JsJs24]

Re: You can be jailed for debt

That's the kicker is all the conspiracy stuff people laugh off ends up ringing true in the end. Think about how much power the elite gained over the last ten years....

Banks are in control of everything, always have been. They are who finance the wars (usually both sides of it) and profit like mad men.

The oil tycoons are in it too now that oil has become such an integral and necessary part of everyday life. Monopolies are illegal, yet if you truly look into how everything is structured, those in power really do have a monopoly.

I hear you on the wage cut thing. That's why I went back to school. Jobs don't pay crap anymore...that is if any jobs are available in the first place. It's quite disconcerting.

There are indeed conspiracy theories that are true; and I like to refer to them as G. Edward Griffin of Freedom Force International does, as conspiracy facts. If the facts are there than why is it a theory. J. Edgar Hoover said "The individual is handicapped by coming face-to-face with a conspiracy so monstrous he cannot believe it exists."

As for monopolies, they are illegal according to the Sherman Act of 1890 signed by President Benjamin Harrison. However, one must understand that the only way a monopoly can exist is by the government permitting it to. Thus, monopolies exist today, and more so oligopolies, by way of special interests between companies and the government. The government chooses which companies it wishes to grant such a privilege. But most people do not understand this and many will argue that its not true til they are blue in the face. My brother actually asked that question to an economics class of his and only 1 or 2 of the students believed that government is what allows a monopoly to come into existence. He phrased the question as "can a monopoly exist in a true free market where there is no government intervention?" The answer is no, though I'll let others think that one over. Unless one understands free markets, one cannot understand the correct answer to this question.

The Federal Reserve is the reason banks control everything. Establishing the Fed was the biggest intentional conspiracy that has ever been created. By allowing a private group of bankers to print and control the currency of our nation was the death sentence dealt to our country. Because of the Fed we experience inflation, deflation, and stagflation all at the discretion of the Fed. People believe the Federal Reserve is owned by the Federal government because of the name, which is quite misleading because it is not owned whatsoever by the government. Thus, the reason presidents typically keep their predecessors Chairman. The Fed board provides a list of names to the President that he can choose from, thus it really doesn't matter who he chooses because the Fed is going to provide him only with those that they deem qualified for the position. Once again, this is a topic that people have to do their research to really understand it.

[Dzone]

Re: You can be jailed for debt

That's why I responded to Daved's post earlier. We can all voice our opinions from an economic viewpoint of the economy, but it really doesn't mean squat when real people are currently in real life situations of the worst kind. Those of you who are out of work and in debt are the only ones who truly understand the reason you are in your situation. It saddens me to hear people on this board whom I consider friends in this cyber world of ours going through tough times. I am glad however, to hear the strides being made to fix your situation and turn it into a positive. As long as you maintain a positive attitude and don't give up I believe you will find yourself in a new career where you can win back your happiness and live out the American dream. Dzone, it is great to hear that you are taking classes to be a loan officer, and I am sure you will achieve that goal. Keep up the hard work and stay focused on your objective.

I often recommend books to read for anyone interested. Well, for the situation you are in I can not think of a better one than Napoleon Hill's "Think and Grow Rick." There is a book that includes his 3 best works all in one that I would suggest. This book is a life changing book and would probably be the greatest book you ever read, considering it will have a life long impact on your life. I read that book and couldn't believe how fast I found myself working toward achieving my goals, refusing to quit. Then, after reading it I was talking to one of my close friends from back home who's dad happens to be a multimillionaire. Well, it turned out his dad read that same book and within a couple years was off to making his millions, and credits the book for his success. It is available on audio for those that like to listen to books while they drive.

I really appreciate that Js. When I speak of issues, I try to keep them in the third person. As looking at someone else. It does help, yet, to talk about it too much, tends to perpetuate.
As for loan officer classes, you had me confused with daved. He's making a career change from cars to real estate. We are all pulling for daved and will be glad when the tide turns for him, as it surely will. I have been in the same job for 20 years and intend to make it another 20 years. I built my business completely based on every word in Napoleon Hills book. I have studied Hill and have his principles branded into my brain. I have his Law of Success, 21st century edition, as well as a hard bound gold leafed edition of the original. I guess, in some ways, knowing what I know, makes this situation challenging. Maybe I got off track from the teachings that "got me there". Do you know what I mean? Perhaps it was allowing distractions to take me off my purpose. Getting involved in relationships that weren't in my best interest. In any case, this week, I have started a study of the works of Wallace Wattles. "There is not the least cause for worry about financial affairs"...apparently Napoleon Hill studied Wattles and was inspired by him. This stuff is real.
Thanks for the encouraging words to anyone going through "issues" right now.

[DJDIGGLER]

Re: You can be jailed for debt

There are indeed conspiracy theories that are true; and I like to refer to them as G. Edward Griffin of Freedom Force International does, as conspiracy facts. If the facts are there than why is it a theory. J. Edgar Hoover said "The individual is handicapped by coming face-to-face with a conspiracy so monstrous he cannot believe it exists."

As for monopolies, they are illegal according to the Sherman Act of 1890 signed by President Benjamin Harrison. However, one must understand that the only way a monopoly can exist is by the government permitting it to. Thus, monopolies exist today, and more so oligopolies, by way of special interests between companies and the government. The government chooses which companies it wishes to grant such a privilege. But most people do not understand this and many will argue that its not true til they are blue in the face. My brother actually asked that question to an economics class of his and only 1 or 2 of the students believed that government is what allows a monopoly to come into existence. He phrased the question as "can a monopoly exist in a true free market where there is no government intervention?" The answer is no, though I'll let others think that one over. Unless one understands free markets, one cannot understand the correct answer to this question.

The Federal Reserve is the reason banks control everything. Establishing the Fed was the biggest intentional conspiracy that has ever been created. By allowing a private group of bankers to print and control the currency of our nation was the death sentence dealt to our country. Because of the Fed we experience inflation, deflation, and stagflation all at the discretion of the Fed. People believe the Federal Reserve is owned by the Federal government because of the name, which is quite misleading because it is not owned whatsoever by the government. Thus, the reason presidents typically keep their predecessors Chairman. The Fed board provides a list of names to the President that he can choose from, thus it really doesn't matter who he chooses because the Fed is going to provide him only with those that they deem qualified for the position. Once again, this is a topic that people have to do their research to really understand it.

I did learn about that in Micro and Macro economics. But it's original intention which used to be for the good of society, has been switched to the intention of lining the pockets of the elite.

You are absolutely spot on about the fed. I'm always complaining about them.

As for being in debt it's hard. I had a high truck payment that I needed for my business, but was necessary for tax purposes etc. When the business started flopped noone would take the truck because I was so upside down. The best offer I got was to make me eat 7k of the loan. There was no way, but I drastically wanted to get rid of it and lower my payments. Finally a stroke of luck, a Mustang GT convertible I looked at for fun ended up being in my price range I was looking at. The dealer only made me eat 1k of my loan so it was a win-win situation. I ended up lowering my monthly payment by $100 a month, and lowering my insurance $50. People thought I was nuts to get that car when I was losing business, but they didn't realize I substantially lowered my bills by getting it, and had no other choice since others wouldn't give me a fair price on my truck.

The moral of that little tid bit of my history is even sometimes when something seems flashy, there may truly be a sound decision behind it. When we claimed bankruptcy I had the chance to keep the car which I SO wanted to, but it wouldn't have been the responsible decision so I let it go. Now I only buy what I can pay for cash.

[JsJs24]

Re: You can be jailed for debt

I really appreciate that Js. When I speak of issues, I try to keep them in the third person. As looking at someone else. It does help, yet, to talk about it too much, tends to perpetuate.
As for loan officer classes, you had me confused with daved. He's making a career change from cars to real estate. We are all pulling for daved and will be glad when the tide turns for him, as it surely will. I have been in the same job for 20 years and intend to make it another 20 years. I built my business completely based on every word in Napoleon Hills book. I have studied Hill and have his principles branded into my brain. I have his Law of Success, 21st century edition, as well as a hard bound gold leafed edition of the original. I guess, in some ways, knowing what I know, makes this situation challenging. Maybe I got off track from the teachings that "got me there". Do you know what I mean? Perhaps it was allowing distractions to take me off my purpose. Getting involved in relationships that weren't in my best interest. In any case, this week, I have started a study of the works of Wallace Wattles. "There is not the least cause for worry about financial affairs"...apparently Napoleon Hill studied Wattles and was inspired by him. This stuff is real.
Thanks for the encouraging words to anyone going through "issues" right now.

Dzone, my apology for mixing up you and Daved's situation. It makes me smile to hear that you read Hill's philosophy and have incorporated it in your life. Wallace D. Wattles is another great success philosopher, and I have read his books too. You can't go wrong with either of the two, and I think its best to read both. Wattles bases his philosophy off of religion for the most part, whereas Hill merely refers to the power of the mind, mainly the subconscious.

I do know what you mean about getting off track. Lately, I have considered reading their books again to reinforce the message. There is a Napoleon Hill short version book on audio at Barnes and Noble that I almost purchased the other day. I think I will go buy it to refresh the message and put me back on track as well. I used to get up every morning and read my "chief aim in life" and then again before bed. I need to get back in that habit. It wouldn't hurt for you to do the same if you feel you are drifting off course. I hope those who have not read these books will realize how powerful they are.

[JsJs24]

Re: You can be jailed for debt

I did learn about that in Micro and Macro economics. But it's original intention which used to be for the good of society, has been switched to the intention of lining the pockets of the elite.

You are absolutely spot on about the fed. I'm always complaining about them.

As for being in debt it's hard. I had a high truck payment that I needed for my business, but was necessary for tax purposes etc. When the business started flopped noone would take the truck because I was so upside down. The best offer I got was to make me eat 7k of the loan. There was no way, but I drastically wanted to get rid of it and lower my payments. Finally a stroke of luck, a Mustang GT convertible I looked at for fun ended up being in my price range I was looking at. The dealer only made me eat 1k of my loan so it was a win-win situation. I ended up lowering my monthly payment by $100 a month, and lowering my insurance $50. People thought I was nuts to get that car when I was losing business, but they didn't realize I substantially lowered my bills by getting it, and had no other choice since others wouldn't give me a fair price on my truck.

The moral of that little tid bit of my history is even sometimes when something seems flashy, there may truly be a sound decision behind it. When we claimed bankruptcy I had the chance to keep the car which I SO wanted to, but it wouldn't have been the responsible decision so I let it go. Now I only buy what I can pay for cash.

I took micro and macro in college and both are taught according to the mainstream, and macro according to the Keynesian view. Economics has become my passion, though it is only a hobby for me. I choose the Austrian School and believe that it is the only feasible approach to economics. July 10, I will be attending the Mises conference in Las Vegas. The unfortunate reality is that most people have never heard of the Austrian School. My brother made it through PdD school without ever hearing of it. Then, he learned of it from a popular Austrian professor whom he met at an interview at WVU. He turned me on to it and we both are Austrians now. Check it out if you haven't already. You will learn all you need to know about the Fed. Hayek, Mises, Rothbard, Hazelitt, and Schumpeter are all Aurstrians; and in my opinion they are the greatest economists in history.

[Fitter X]

Re: You can be jailed for debt

This falls, or rather I fall right in the middle of this conversation. I agree with having the cash up front before you buy. I've never had a credit card and never will.
How I fit in this mess.
1. I refinanced my home durring the property value spike. I borrowed against the increased equity. Which was money that actually didn't exsist. So when the bottom fell out my home turned into a "toxic asset".
2. I recieved a extreme eye injury in a cage fight last summer. Long story short, $50,000 and a series of surgeryies, which there still may be one more, and my insurance companny denied my claim. They quoated my policy and told me that the fight was a form of self destruction.
3. So due to the fight, and my old boss being a dick head about my time lost due to my injury/surgeries I got laid off. Just for the record. I'm not just a hired hand, at the time of my lay off I was a general foreman. I had three foreman who in turn each had 10 men on their crews.
So here I am, unemployed, for over 9 months. In debt up to my eyes. As some of you know I'm a union pipefitter, and can only work on the jobs the union hall says I can. I hit the bench in 9/2010 at #276. Now I'm #155. It's not a pretty picture. I'm facing these choices, bankrupcty, sueing the insurance company, or being sued by the medical financial groups who I owe money to.