Millions of Americans Get Wages Garnished Over Credit Card Debt

Post by zo1 » Mon, Sep 15, 2014, 3:52 PM UTC

smtddr wrote: post #35

zo1 wrote: post #24

Earlier quoted context omitted.

"overspend or manage finances poorly" The sort of debt that you're talking about goes way further than the narrow perspective that most take on it. It begins before you are even born, and I think we should all ruminate on that. Let me elaborate a bit, despite consistently getting down mods for expressing this point of view before. The debt begins with the parents that choose to have kids when they are unsure of their…

>>The debt begins with the parents that choose to have kids when they are unsure of their financial wellness and security for the years to come of their child's growth to adulthood. Having children should not be tied to having X amount of money - https://news.ycombinator.com/item?id=8177836

Post by [deleted] » Mon, Sep 15, 2014, 3:56 PM UTC

themartorana wrote: post #41

smtddr wrote: post #29

Earlier quoted context omitted.

>>And the money that is being garnished is to pay back the creditor for the money and/or services that the debtor received. It's called justice. I wouldn't describe a big CC corp bringing a citizen to near-financial-ruin as "justice". While you are probably factually right and all the legal procedures more or less followed, this article still highlights a problem with our current system. That it drains people who are…

Exactly. Justice is hardly found in making it impossible for someone to pick themselves back up. It also seems odd to sue someone who may be behind on payments, but hasn't resorted to bankruptcy court to completely eliminate those debts (save college loans, which is a whole other thing). It's hardly surprising that people who have never been down on their luck are the first to turn a blind eye or scolding glance towa…

Post by [deleted] » Mon, Sep 15, 2014, 3:58 PM UTC

sillysaurus3 wrote: post #19

jschwartzi wrote: post #2

The more I learn about what happens to people who are in debt and fall into hard times, the less I want to buy anything with credit.

Important note: If you don't buy anything with credit, you could find yourself unable to sign up for internet service at a new apartment because you're an "unknown credit risk." This happened to me, and I would have been completely screwed if I hadn't had a roommate who did have credit. The ISP was the only service available at the apartment, and they absolutely refused to let me sign up. It wasn't because I had bad…

Post by lotsofmangos » Mon, Sep 15, 2014, 4:01 PM UTC

emir_ wrote: post #56

hughes wrote: post #8

It's hard to see these "millions of americans" as victims in this matter. It's almost always possible to just _not buy_ something if you can't afford it.

If one is unemployed, can't find a job for x amount of time, do you think it is acceptable to use credit cards to survive during that period of time?

Post by zo1 » Mon, Sep 15, 2014, 4:02 PM UTC

Kalium wrote: post #76

zo1 wrote: post #69

Earlier quoted context omitted.

"Life is uncertain and variable. Demanding that people make choices based on unknowable futures is a bit silly." And what about demanding that other people pick up your burden if the unknowable future impacts you negatively? It works both ways, you know. You are 100% correct, life is uncertain and variable. And there is no way for anyone to fully anticipate the future with perfect accuracy. However, that right there…

You should think carefully before calling for risk-averse behavior on a site closely affiliated with ycombinator.