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This is a sad commentary on the state of affairs in this country and how for more and more people, this is their "new normal"
http://money.msn.com/ways-to-invest/...mas-brush.aspx
The one thing is if you shop at dollar stores---sure as hell don't use your credit card otherwise even if you have been paying on time and all---they will lower your credit score for having even shopped at one of these stores.
http://newsroom.blogs.cnn.com/2009/0...-gone-too-far/
The 'polarized society' it has become over here too. The pound shops are crowded.
Many in our society face the decision of food or heating, myself included since I retired (complicated) earlier this year and I thought that I was relatively well off.
Two doors along the police had to break in to rescue an 80's yr old single man who had just had enough. He'd taken to his bed, unfed and unwatered for about 2 weeks, waiting to die. Three weeks on and he is still in hospital. What will happen when he is released? That said, he's been lucky at present. Our NHS is quietly being dismantled by the slimy government that supports million pound bonuses for the poor performing finance sector.
As for one's credit rating, supermarket computers are able to give an instantaneous rating based on past profile. If one's normal shopping bill comes to £75 per visit then the discount tokens are printed to suggest a £90 target for slightly more advantage and pro rata. If one drops below £30 you may, if they are generous with the ink, get a token saying thank you.
Nowadays I dress and look like a tramp. I attract disdainful looks should I venture into a 'proper people's shop'. One young lady referred to me as a "horrible little oik"! and I was a foot bigger than her. Had I the confidence in my anal sphyncter I would have passed comment back but I feared a Chaplinesque walk away.
"Gotta larf, ain't yer?"
"Gi's a job. I can do that" (Yosser Hughes - Boys from the black stuff)
On the first link, well shit happens. The economy is down worldwide and it is affecting a lot more people than Americans. Things are still cheaper here by far than other places. For example for Christmas I am buying LDD a motherboard with cpu and some RAM for about 300 bucks cheaper and a better product than he could buy in New Zealand even counting in shipping costs.
We are a world of consumerism and it shows, people are searching for ways to make ends meet and they are maxing out credit cards left and right. I get lots of applications in the mail to sign up for credit cards that they damned sure won't give me because I filed bankruptcy over 300k in medical bills. I shop at Dollar Store for things I can get there cheaper than other places, until I moved into this place, it was dog food. I could get a 15lb bag for under 5 bucks yet anyplace like WalMart I would have been spending more. There is also convenience as in a Dollar Store is closer to me than WalMart which is on the other end of town.
For Christmas for my family I am not buying anything, rather I am taking the time to bake some of their favorite goodies and make them some of their favorite candy. I'm doing the same for some of my elderly neighbors.
As for the credit card companies...that's an old link and an old story. Yes, I think the only monitoring that credit card companies should do is questioning possible fraudulent purchases. I got a call from my bank the other day because after a month of having my debit card I used it six times in one day, buying things and paying bills. They just wanted to make sure the charges were done by me because the activity was unexpected. I assured them it was me and they released the funds. The only thing that should affect credit limits is how you pay your bill and how on time in paying your bill you are, not robbing Peter to pay Paul. :2cents:
DD- A couple of questions
1) Are you expected to pay back your $300k bill, if so, over what period? In the meanwhile is there interest to pay?
2) Is your medical credit rating ever capped or can you carry on borrowing should you need to more treatment?
Sorry Heph was having a DNS problem, finally got in on a proxy lol.
No I don\'t have to pay the 300k in medical bills that was why I filed total bankruptcy, everything was taken care of but student loans. Bankruptcy affects your credit negatively, even when you explain it was medical bills, guess dying on the table does make an impression on some people. But it will affect you for a period of seven years. It\'s a last ditch option for most people but sometimes a fresh start helps.
We don\'t have medical credit ratings, Heph, we only have credit ratings. Here, regardless of your ability to pay, you are not denied treatment for emergency rooms or other life threatening situations. But individual doctors offices are free to tell you if you can\'t pay they won\'t treat you.
Thank Bevan for the creaky but wonderful ole NHS without which I might well not be here today, would prob be a lot poorer, certainly a damn sight less healthy and wud have no credit rating worth a sod such is my medical history... my heart goes out 2 ya Darlin' darlin'... there is something.. nope..wrong... there is everything to be said for a health service free when needed no matter how wealthy u are or are not and paid for out of our taxes..
A word of explanation for those who may not realize the differences between the US and British systems:Quote:
Originally Posted by DuckiesDarling
Bankruptcy in the UK and in countries that follow British law does NOT wipe out your debts like it does in America. Instead, your creditors take over your assets. Bankruptcy is not a creditor's worst nightmare in the UK the way it is in America. In fact, if the debtor has any assets, creditors will sometimes try to put a debtor into bankruptcy as a collections measure.
It is so Jamie more or less tho not quite as simple as u say.... but not to pay medical bills.. unless ya wer a nob or a posey pretentious clown wiv ideas above ya station and went private.. on ya own head b it then...Quote:
Originally Posted by jamieknyc
So if I have understood what has been said, DD does NOT owe any money for medical bills?
How does this vary from filing for protection from bankruptcy? Is this for companies only, to allow them to continue trading but wiping out debts?
In the UK companies go bankrupt and 'carry on' trading under a different name e.g. Furmstones became Firmstones (or was it vice versa). They metamorphose often with the new name buying out the old name assets for pennies.
Heph, there are different types of bankruptcy that can be filed, some offer repayments and reorganization. I filed Chapter 7, which is total, my parents wound up filing Chapter 13 to deal with the mess my brother got them in, which allows for a trustee to distribute payments on things and stops the harrassing phone calls. Chapter 11 is normally for businesses, Jamie could explain the legal side better than me but there is plenty of info on the net.
DD -Thanks for the guidance.
13 Chapters sounds daunting enough. I hope that there aren't too many more.
For the benefit of the non-US posters:
Chapter 13 of the Bankruptcy Code is for 'reorganization' of individual debtors. They are entitled to keep most of their assets, while the remainder of their debts are 'discharged' (wiped out) and the debtor emerges from bankruptcy with a 'fresh start,' i.e. a clean slate. Some types of debts are not dischargeable, such as fraud, intentional injury and several others. Generally, it involves some type of payout of a portion of the debts.
Chapter 7 is a liquidation of the debtor's 'bankruptcy estate' (debts and assets at the time of filing). The debtor is entitled to keep some assets as exempt property, which varies according to state law. The rest are liquidated and the proceeds are paid out to creditors.
Chapter 11 is similar to Chapter 13, but for businesses rather than individuals.
A creditor who believes that the debtor is not entitled to reorganize under Chapter 11 or 13 can make a motion to convert the bankruptcy into a liquidation under Chapter 7. Those are usually not granted unless the debtor is guilty of some type of misconduct.
In the UK and other countries, bankruptcy means that a trustee for the creditors takes over the debtor's assets upon filing, and the system is higly pro-creditor. In the US, the debtor remains in control and is entitled to have all or most of their debts wiped out. I once represented a British company that had debtors in various states of the US. They were always asking why I did not have the debtor put into bankruptcy. It wasn't easy to explain to them that in the US, a debtor filing for bankruptcy is the creditor's wrost nightmare.
This man being interviewed back in 2007 by Bill Moyers is someone who really does know about the ways things are----and his words four plus years on are even more salient now than they were just a few years ago----take the time to watch the video, Google him and if you are really ambitious---go read both of his recent books--"Enough" and "The Battle For the Heart and Soul of Capitalism"
If we do not address these issues-----we really are in jeopardy.
http://www.pbs.org/moyers/journal/09282007/watch.html
Hideously familiar in the UK too Voltie.
Why is it that as the world keeps evolving at a technological pace we can barely keep up with that it's also proportianably going more out of control?:rotate:Quote:
Originally Posted by 12voltman59
Technological evolution is not at fault in this case. Rather it is due to the corrupt nature of greed inflicted people. Technology is as old and as simple as a lever. It is a tool.Quote:
Originally Posted by pepperjack
Only the most unskilled craftsman would blame a tool. If a tool is beyond your ability to control, stop using it, or do not use it all. Use of a tool when lacking skill is no excuse for damages inflicted. You're still accountable and responsible.
That is merely common sense and common fact. Apologies that life is not fair. You can go crazy, accept it. May be fortunate and do both. It will not change except in the extreme circumstance it becomes change itself, which can and does happen.
If you are now the more so confused, ... good. Remember only that we bless your pea picking heart and all shall be right as rain.