Re: Depression Financial

earthpots <earthpots164@xxxxxxxxxx> wrote in message:
1Ns1k.13819$qP.12211@trnddc03,
They are wealthy SOB's, I have no guilt whatsoever over my decision.
They can absorb the debt and add it to their losses, which is nothing
compared to their profits.

You and I have never been on friendly terms and you're not going to
appreciate this either, but I think it ought to be said.

When you default on your debts, you raise the cost of credit for
everyone else. I have sympathy for anyone who can't pay their debts for
whatever reason (short of gross stupidity) but excuses such as "they can
afford it" or "they engaged in usury" just don't apply.

Sure "They can afford it" because they simply pass their costs on to
their customers.

All states have laws against usury, so if the law was actually violated
in your case then you could get the debt voided. It's true that some of
the interest rates are so high (especially after a couple of missed
payments) that they are comparable to loan shark rates, but they are
legal.


All I can say is, I am glad to be rid of
all the greedy banks and their expensive credit cards with outrageous
fees.

I'm sure they are equally glad to be rid of you.

I have money in the stock market I can pull in an emergency, if
needed. 18 shares of free stock from MetLife, $125 value when
received, over a thousand dollars today, and still growing. I have
never had an emergency that exceeded $500. So, I'm good.

Ah, so you do have some assets.

If you can't pay your debts, that is unfortunate, but it's not OK just
because the bank supposedly has lots of money or you just didn't like
the interest rates they were charging you. It's not the bank who has to
pay for your default. It's everyone else.

--
Juba
www.masterjuba.com


.

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