I think its best to never take out the loans you feel are crappy.

Crappy system, not crappy loans...any system that allows people to borrow thousands with no (or rarely) any criminal repercussions is a crappy system.

Of course certain people will exploit that but then as the black folk say...don't hate the player, hate the game...or whatever those black fools say.

If you borrow thousands and can't pay it back it should be viewed the same as any other grand theft...30 yrs hard labor.

It could be I have judgements against alot of people but never seen a penny of the money. It pisses me off when I see one of them at the grocery store with new highlights, name brand clothes, buying steak. Like I said to an extent I believe there should be a debitors jail. Just like stealing.

All I can do is refile every few years and put it on their credit and that cost me more money. In a way our system is crappy.

Great Debt Unwind: Bankruptcies by Consumers and Businesses Jump



http://wolfstreet.com/2017/06/06/bankruptcies-consumers-businesses-rise-2017/



When it comes to consumer bankruptcies, other forms of debts are the primary drivers: largely student loans, auto loans, and revolving credit such as credit cards. And a big one: debts related to medical treatments, such as emergency room bills.

And there is a lot of this debt. Credit card debt, at $1 trillion, is just one notch below the peak during the Financial Crisis. But auto loan balances outstanding have surged 36% from the pre-crisis peak in 2006 to $1.12 trillion in Q1 2017. And student loan balances outstanding have surged 180% over the same period to $1.44 trillion. This amounts to over $3.5 trillion plus medical debts.

While student loans cannot be discharged in bankruptcy, they can be drivers when other debts are involved and the combined debt burden is simply too large for consumers to carry. And they buckle.

Delinquencies on credit cards, according to the Federal Reserve Board of Governors, have been ticking up from the lows of the first half in 2015. Auto loan delinquencies have been rising too, and in the subprime segment, they have been surging. Student loan delinquencies have been very high and have been underreported for years, it now turns out. So when will the first waves of consumers stumble in their debt binge and head for bankruptcy court to seek protection from creditors? That’s what everyone wanted to know. And now the answers are beginning to emerge









Credit cards don't get a dime of interest from me.

I get their $80, $150 or even $200 rebate to spend $500. Pay it off. Cancel it. Wait a year. Repeat.

The first thing that people do when faced with declining wages and rising rents and other expenses is to borrow money in the effort to maintain their current living situation. The capitalists' only concern is getting their f**king money. They know full well that it's their own raping of workers that is creating the problem, but without that raping their beloved capitalism would collapse. So, their only option is to demonize the debtors in any and every way possible. And as we all know, the first way is to tell vague, exaggerated, unsupported lies about how everyone who is poor and unable to pay off debt has a $1000 cell phone, a new 65 inch TV, a new 2017 Dodge Charger in the driveway, and just got back from a 3 week cruise to the Bahamas.

what is the BIG DEAL here?

if you choose to buy something and not pay for it today you will pay for it tomorrow with interest. it seems rather cut and dry that if you do not want debt then pay it off in the first place, duh (it's not rocket science here).

I'm so serious though.








Amazon's and Walmart's latest moves confirm the death of the middle class as we know it.


https://finance.yahoo.com/news/amazon-walmarts-latest-moves-confirm-203539327.html



The two retailers' strategies of aiming at the furthest ends of the income spectrum highlight the widening gap between wealthy and poor Americans and the disappearance of what was once the most sought-after class of income-earners in the country.
"This is absolutely symptomatic of a deteriorating middle class, or at least what we used to consider to be the middle class in America," Stephens told Business Insider.

screw it all..someone has made thereself a total judge..a challenger is cool,,bassboat is total redneck..maybe full of pabst blue ribbons,worse than stale piss cans...judge not..let it all go..leave everyone alone.............

Tell that to the United States government and their fiat currency scam.

Borrowing "currency" into infinity and beyond.

I'm not complaining. She has paid me $57,000. I'm just explaining that most of the time people's financial problems are their own stupidity.

It's funny how every rich capitalist parasite like yourself, eager to blame the victims of your capitalist rapefest for their plight, personally knows several workers who have a big expensive house, several new cars, a couple of big-screen TVs, the latest Apple cell phone, the finest designer clothes, all on $10 per hour -- and now, the scum that they are, these workers can't pay their debts. Meanwhile, I don't know personally anybody at all like that. And how is it that you rich capitalists are hanging around with working-class scum all the time?

---------

More than 500,000 homeless in the US
By Kate Randall
21 November 2015
World Socialist Web Site
https://www.wsws.org/en/articles/2015/11/21/home-n21.html

Excerpts:

More than a half million people were homeless in the United States this year, nearly a quarter of them children, according to a new report. The homelessness crisis is a stark indicator of the social reality in 2015 America and corresponds to a scarcity of affordable housing and dwindling wages for low-income workers and their families.

The report from the US Department of Housing and Urban Development (HUD) released Thursday counted 564,708 people homeless, both sheltered and unsheltered. These figures, gathered by volunteers on a given night in January 2015, are undoubtedly an undercount. Many of those living in motels, doubling up with relatives and friends or living on the streets are likely not represented in the tally.

Twenty-three percent, or 127,787, of the nation’s homeless are children under the age of 18, according to HUD. However, this figure is at odds with statistics from another branch of the federal government. According to the Department of Education, there are 1.36 million homeless students in the nation’s K-12 public schools, double the number in 2006, before the onset of the financial collapse.

According to the National Alliance to End Homelessness, there is a shortage of 7 million units of affordable housing throughout the US, creating a desperate situation for workers and their families as they search for decent and affordable accommodations.

As the majority of working people feel the housing squeeze, they face declining real wages. According to a recent National Employment Law Projet report, workers’ wages have declined by 4 percent, after adjusting for inflation, between 2009 and 2014.

More than one in ten homeless adults are veterans. There were 47,725 homeless veterans on a single night in January 2015, or 11 percent of the 436,921 homeless adults. Veterans from the wars in Iraq and Afghanistan, Vietnam, Korea and the countless US imperialist exploits are included in this total.

Despite the massive increase in homelessness since the beginning of the financial crisis, funding for public housing has been repeatedly slashed in the post-2009 period. A report by the San Francisco-based Western Regional Advocacy Project noted that “HUD funding for new public housing units...has been zero since 1996,” while “Capital available to perform maintenance in 2012 [was] $1,875 billion,” representing a fall of $625 million over three years.

Mass homelessness is only the most acute manifestation of America’s housing crisis. According to a study published by Harvard University’s Joint Center For Housing Studies in June, the homeownership rate for 35-44 year-olds, which has been plunging for decades, has hit the lowest levels since the 1960s. Only slightly more than one-third of households headed by those aged 25-35 own their own homes.

The persistence of mass homelessness in the United States, despite six years of “economic recovery,” is an expression of the persistence of mass unemployment, falling wages, the slashing of social services, and the increasingly unaffordable living costs in America’s major cities, including Los Angeles and New York, that are home to a disproportionate share of America’s billionaires.

According to a poll released earlier this month, half of New Yorkers are “either just getting by or finding it difficult to manage financially.” More than one in five said they did not have enough money to buy food over the past year, and 17 percent said that they “have had times over the last year when they lacked the money to provide adequate shelter for their family.”

In the New York borough of Manhattan, median rent prices have grown by 9.5 percent over the past year. To afford a typical Manhattan apartment, one would have to pay over $40,000 a year in rent alone, 30 percent higher than the median wage in the United States. Not surprisingly, one recent study found that it is impossible for any worker making the minimum wage of $8.75 per hour to afford an apartment in any part of New York City—defined as spending no more than 30 percent of monthly income on rent.

This country is full of entitled people.

Yes it is. We call them "libtards and sjw."

Fixed.