More than a third of Americans are in trouble over unpaid bills and debts

[toubab]

http://business.financialpost.com/2...s-are-in-trouble-over-unpaid-bills-and-debts/

"WASHINGTON — More than 35% of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects, said Caroline Ratcliffe, a senior fellow at the Washington-based think-tank.

“Roughly, every third person you pass on the street is going to have debt in collections,” Ratcliffe said. “It can tip employers’ hiring decisions, or whether or not you get that apartment.”"

No surprise.

 

[BoyNextDoor]

How long until a debtor's prison seems like a good idea to revive?

 

[toubab]

How long until a debtor's prison seems like a good idea to revive?

I'm wondering how long until the have-nots decide to take from the haves.

 

[Beco]

How long until a debtor's prison seems like a good idea to revive?

or how about, stop buying things you really dont need, nor can afford. You don't own your possessions, they own you.

 

[BoyNextDoor]

or how about, stop buying things you really dont need, nor can afford. You don't own your possessions, they own you.

I know. I fucking hate it when my kids need to eat. The little pricks.

 

[Skiddles2014]

I know. I fucking hate it when my kids need to eat. The little pricks.

Little socialist bastards!

Tell them to get a job and stop voting for Obama!

 

[BotanyBoy]

I'm wondering how long until the have-nots decide to take from the haves.

Not long I would hope....they will bite the hand that feeds soon enough.

or how about, stop buying things you really dont need, nor can afford. You don't own your possessions, they own you.

With shit like this....who's answer is to either jail the poor literally for being poor....or push them even further into poverty all the way to homelessness and destitution. Fucking brilliant!!

You're a fucking scum bag Beco.

 

[Sean]

or how about, stop buying things you really dont need, nor can afford. You don't own your possessions, they own you.

Yeah, I mean, it's not like those profligate bastards really NEED those cancer drugs.

 

[BoyNextDoor]

Little socialist bastards!

Tell them to get a job and stop voting for Obama!

Exactly! Damn them for needing healthcare, wanting a roof over their head or thinking they should be educated. What is this .. RUSSIA?

 

[Skiddles2014]

Exactly! Damn them for needing healthcare, wanting a roof over their head or thinking they should be educated. What is this .. CANADA?

FYP

 

[Porkwarrior]

http://business.financialpost.com/2...s-are-in-trouble-over-unpaid-bills-and-debts/

"WASHINGTON — More than 35% of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects, said Caroline Ratcliffe, a senior fellow at the Washington-based think-tank.

“Roughly, every third person you pass on the street is going to have debt in collections,” Ratcliffe said. “It can tip employers’ hiring decisions, or whether or not you get that apartment.”"

No surprise.

I am one of that 35%.

After two years of bullshit I declined to renew a satellite TV contract, and they added $150 of added fees to grab one last pound of flesh. Because they could. I put up with three hours of phonetag before I just said "Fuck It". And that $150 became $900 declared R9 two years later.

Eventually I sorted it out, and just on principle I refused to pay THEM a dime, but it still took two years of dicking around and eventually $75 in filing a small claims case against Bell Canada before they finally went away.
The extra annoying part is even after they declared " No Mas" I was STILL being hounded by Glengarry Glen Ross credit agencies. To the point where I simply cut out landlines altogether.

And for the record, my CC debt is zero, and I had a house that was paid off.

 

[Wide_eyed_Indulgence]

This is alarming. I recently saw the film "Inequality for All" and it is distressing. I wish I was smart enough to offer a good solution. I'm working on it . . . .

 

[Amberchgo]

How can you live without that flat screen TV or Xbox.

It's a "right" I tell you!

 

[Beco]

I am one of that 35%.

After two years of bullshit I declined to renew a satellite TV contract, and they added $150 of added fees to grab one last pound of flesh. Because they could. I put up with three hours of phonetag before I just said "Fuck It". And that $150 became $900 declared R9 two years later.

Eventually I sorted it out, and just on principle I refused to pay THEM a dime, but it still took two years of dicking around and eventually $75 in filing a small claims case against Bell Canada before they finally went away.
The extra annoying part is even after they declared " No Mas" I was STILL being hounded by Glengarry Glen Ross credit agencies. To the point where I simply cut out landlines altogether.

And for the record, my CC debt is zero, and I had a house that was paid off.

but you bought the satellite TV contact, so you have to pay it, you ordered it! That is exactly my point....

 

[BoyNextDoor]

FYP

Nicely done

 

[Beco]

I know. I fucking hate it when my kids need to eat. The little pricks.

But if money is THAT tight, why have kids? Think much? or were you expecting the goverment to pay for them.....which we do

 

[BoyNextDoor]

But if money is THAT tight, why have kids? Think much? or were you expecting the goverment to pay for them.....which we do

Because ..

It is the biological imperative ... It feels good ... it is the only thing you can do that does not cause the wrath of god ... it is expected of you ... your mum wants grandkids ...

get it?

 

[Beco]

Because ..

It is the biological imperative ... It feels good ... it is the only thing you can do that does not cause the wrath of god ... it is expected of you ... your mum wants grandkids ...

get it?

so stop complaining.....

 

[patient1]

Let's not jump to conclusions. Just because you don't incur debt doesn't mean you never deal with debt collectors.

Every time in my life that I've dealt with collection agencies, it was with regard to medical billing. These people have the lamest business practices I have ever seen.
I've gone hungry, I've had utilities turned off, but I've never been without car and health insurance in my adult life.

Take the first time. I had an injury and went straight from to doctor to X-ray clinic, without going home for a check book. They wanted insurance. I said it's pointless because I have catastrophic insurance with a high deductible, I can save you billing costs now. How about cash, it's legal for all debts public and private?

I should have known there would be a problem when they couldn't find a receipt book, but they eventually produced one.

Five months later I'm cleaning my room and finally throw out that and some cash register slips I had lying around. A week later I get a bill from the X-ray clinic.
I wrote on it "paid cash when services were received" and mailed it back. They continued to bill me, I stopped wasting my time and stamps communicating with them over a $25 fee I already paid.

It went to collections, and I paid them to be rid of them.

In the other 2 instances, it had to do with medical service providers not recognizing the rates for procedures previously negotiated with the insurance providers I had at those times. Once again, quite a hassle, but they eventually conceded.

In my opinion, after requiring insurance and credit card numbers before they'll treat me, ( and seconds count to people going to the E.R. with kidney stones ), if they can't bill me in 60 days in this computerized era, they shouldn't be allowed to bill me for anything afterwards. How can I defend myself against a fraudulent charge if it is presented in a timely fashion?

 

[BotanyBoy]

but you bought the satellite TV contact, so you have to pay it, you ordered it! That is exactly my point....

Defending cable companies now.....LOL

 

[richard_daily]

Not long I would hope....they will bite the hand that feeds soon enough.

The hand that feeds is the poor. The poor work for the rich, so that the rich stay rich. The rich need the poor far more than the poor need the rich.

 

[toubab]

The rich need the poor far more than the poor need the rich.

I gave that simple statement some thought, and I think you're right. The top 1% in wealth, for example, would be in a world of hurt if the other 99% suddenly disappeared. Not the case the other way around.

EDIT: Giving it more thought, the next question is whether the 99% would be better off if the wealthiest 1% suddenly disappeared. I don't see why we wouldn't, all things considered.

 

[Porkwarrior]

but you bought the satellite TV contact, so you have to pay it, you ordered it! That is exactly my point....

Thank you for failing your primary school reading comprehension lessons, and at the same time letting the entire Lit world know your civics lessons ended with Joe The Plumber.

On the up side you won one of the few blue ribbons you actually earned in your life, a spot on my ignore list.

 

[Que]

I gave that simple statement some thought, and I think you're right. The top 1% in wealth, for example, would be in a world of hurt if the other 99% suddenly disappeared. Not the case the other way around.

EDIT: Giving it more thought, the next question is whether the 99% would be better off if the wealthiest 1% suddenly disappeared. I don't see why we wouldn't, all things considered.

I assume that you mean they disappeared, but left their assets behind?

In less than 5 years the plunder would be squandered. Lottery winners have the means to hire expert advice so they do not need to rely on their own guesses on what to do with large sums of cash. Doesn't matter: butcher, baker, candlestick maker...they squander it all.

 

[4est_4est_Gump]

I read elsewhere immigrants do not have this problem. This leads me to believe that the expectations of an entitlement society is dealt with by easy credit for instant gratification coupled with the soothing comfort of the nanny states insistence upon a safety blanket.

We do not have this problem because we came from meager circumstances and learned to accumulate a savings and engage in responsible investing as well as deciding that we would own fewer things, but things of quality that could be maintained over time. This requires diligent research, not, "ooooohhhhhhh, shiny!"