Dateline NBC

[slam22]

I hate capitalism. I'd move to another country RIGHT NOW but my wife refuses to leave.

For the money I spent on my bankruptcy attorney, I could have used that for plane tickets to go to some other country.

I agree with some things about capitalism, but not everything. It's just enough for me to not want to stay in this country. I wish there were a slew of better alternatives.

Don't let the door hit you in the ass on your way out.

[dingdong]

Well, I have a deep seated hatred for certain collectors right now, so I get the sentiment completely, but the problem with this is that you'd do nothing but operate at a loss here since you'll never get 100% collection. :\

Yes, but in my virtual ( albeit unreal and highly improbable) world of a sudden financial windfall, I wouldn't mind a loss-plus I could just write the loss off.


Or, my fantasy CA, could charge the value paid for the debt + 5.00 to potentially cover the uncollectable portion. We'd explain that to the debtors of course, so they wouldn't think we were greedy.

We could get really technical and run some statistical models on percentages of debt typically collected in a JD portfolio, divide the amount of debt that is potentially uncollectable by the total number of accounts, add that amount on to the collected debt and operate as close to a margin of profitablity as possible , (if there was a profit, we would donate it to public schools ).

But winning the lottery really presupposes this whole plan, so the probability of it happening are as close to 0 as statiscally possible given that I don't buy lottery tickets. Of course there is the slim chance that I might find a lost ticket on the street somewhere.

Of course this diatribe is all in fun. And not really something I am considering.

But...just think of the possiblities. If you could get miss Oprah or Warren Buffet to donate a few million to the effort and buy all this crap junk debt that is causing quite a few people so much grief, you could really potentially help a lot of people by relieving stress in their lives and most likely improve their quality of life with their families, work, ...


We really need to get back to putting a cap on interest and fees, revamp the usury laws, stop the rate jacking that forces people into making a decision to head towards BK.

How ridiculous is it that a CC company who has a debtor/customer having a hard time making a payment, or aquires more debt and has a higher DTI ratio-rate jacks the customer and then expects them to pay even more? Duh! You just forced them into either aquiring more debt to try and pay it off, or worse into default, where they potentially get nothing.

Talk about cutting off your nose to spite your face!

And those ridiculous 35.00 fees for a NSF charge on a debit card when you accicently charged something thinking there was a sufficient balance in your account? Sure in a perfect world we should all know out account balances to the penny, but mistakes happen. Those fees spiral out of control when they charge you 35.00 a pop, and then you are overdrawn, and when your next paycheck comes in you are that much more short causing the whole cycle to start over again.

Meanwhile the bank gets fees on your purchases when you use your Visa/MC logoed debit card.

We need to lobby against these quasi-criminal practices ( which BTW the courts have allowed) and only support CC companies and banks that have consumer friendly policies that don't try to take advantage of their clients.
I realize that banks are a business and profit is the goal , but their has to be a balance where they look at the big picture and see that a few allowances in their "terms" might actually keep them more profitable.

My friend has a car loan with Wescomm, which allows him three times a year to skip a payment. And I realize that the bank does make more $ in interest on the loan as the choice to skip a payment extends the loan another 30 days but it also gives the customer a fighting chance at staying within the lerms of the loan agreement should any unforseeable expense come up, like a vet bill, auto breakdown, or illness causing missed work. And I would venture a guess that the policy keeps defaults down as well.


Look at what Hyundai is doing with their new finance program. They are allowing you to return a car you recently purchased if you lose your job within a certain timeframe w/o taking a hit to your CR.

To me it seems like they are at least trying to take into consideration the economic climate and work with it and consider the consumer and their perspective as priority.

I am sure there are many people out there that will consider this option in these economic times, knowing that there is an "out" if they absolutely need it.

Oh well enough of my blabbing.

[debtmonster]

Don't let the door hit you in the ass on your way out.

Send me the money for the plane tickets and I'm gone.

[debtmonster]

Look at what Hyundai is doing with their new finance program. They are allowing you to return a car you recently purchased if you lose your job within a certain timeframe w/o taking a hit to your CR.

To me it seems like they are at least trying to take into consideration the economic climate and work with it and consider the consumer and their perspective as priority.

Oh well enough of my blabbing.

It's not blabbing. We enjoy reading what's on your mind. That's why we're all here to vent.

I wanted to look at Hyundai and Kia again, but their reliability is too poor even in this day and age.

I've owned many Hyundai's in the past. It will be hard for me to want to buy another one until I start seeing ratings like Honda and Toyota in JD Power.

[dingdong]

I know what you mean about Hyundai. My sister had one for ahwile.

My Big Wheel as a kid had more horsepower!

I think they have a pretty good warranty now don't they?

Too bad Honda or Toyota wouldn't adopt that philosophy ( take it back when you lose your job)

Or better yet GM or Ford. I wonder if that kind of return policy would help sales for them or if they are too far gone?

I would be nice to see the American car companies come back, it is heartbreaking to see what is going on in Michigan/Detroit. Workers with over 25 years on the job losing them. Whatever one feels about Unions, it is still a gut wrencher to see that area suffer so much.

[debtmonster]

I know what you mean about Hyundai. My sister had one for ahwile.

I was considering a used one after the bankruptcy until I saw the reviews on JD Power.

Those 100,000 mile warranties are only for the drive train. What they need is bumper to bumper warranties to fix all of the interior when they start falling apart or when the clear coat starts coming off or when the hub caps start looking super nasty. They never put a warranty on anything major that fails.

You can take almost any car by any manufacturer and go 100,000 miles without the engine throwing a rod of the transmission having a major failure. It's all of the other stuff that goes wrong... power windows, power door locks, brake rotors warping, etc. All stuff not part of the "drive train warranty." so that way there's nothing for them to honor.

And the warranty that they have is not free. Notice that right after they started offering the 100,000 mile warrantees on Hyundai's, they stopped selling brand new Hyundai's for under $10,000. They immediately started adding an extra couple grand onto their cheapest car line when they started that. It's like forcing you to buy an extended warranty by building it into the price of the car.

You might as well buy a used Honda Civic, Honda Accord, Toyota Yaris or Toyota Camry and spend an extra $1500+ for an extended warranty and call it a day.

[LuciluS]

We really need to get back to putting a cap on interest and fees, revamp the usury laws, stop the rate jacking that forces people into making a decision to head towards BK.

How ridiculous is it that a CC company who has a debtor/customer having a hard time making a payment, or aquires more debt and has a higher DTI ratio-rate jacks the customer and then expects them to pay even more? Duh! You just forced them into either aquiring more debt to try and pay it off, or worse into default, where they potentially get nothing.

Talk about cutting off your nose to spite your face!

And those ridiculous 35.00 fees for a NSF charge on a debit card when you accicently charged something thinking there was a sufficient balance in your account? Sure in a perfect world we should all know out account balances to the penny, but mistakes happen. Those fees spiral out of control when they charge you 35.00 a pop, and then you are overdrawn, and when your next paycheck comes in you are that much more short causing the whole cycle to start over again.

Meanwhile the bank gets fees on your purchases when you use your Visa/MC logoed debit card.

We need to lobby against these quasi-criminal practices ( which BTW the courts have allowed) and only support CC companies and banks that have consumer friendly policies that don't try to take advantage of their clients.
I realize that banks are a business and profit is the goal , but their has to be a balance where they look at the big picture and see that a few allowances in their "terms" might actually keep them more profitable.

Look at what Hyundai is doing with their new finance program. They are allowing you to return a car you recently purchased if you lose your job within a certain timeframe w/o taking a hit to your CR.

To me it seems like they are at least trying to take into consideration the economic climate and work with it and consider the consumer and their perspective as priority.

I am sure there are many people out there that will consider this option in these economic times, knowing that there is an "out" if they absolutely need it.

Oh well enough of my blabbing.

I Too Enjoy Your Posts. They contain information Needed.

I agree with you on your paragraph about revamping the Caps, Usury Law, etc. I would have never dreamed we would be filing Bankruptcy. Shoot, I knew the term, but not the different number 7,11,13 and 20.

In late Oct. 2007, we decided to move closer to my doctors because gas prices were so high. I called my Mortgage company to get Pre-Qualified for the Loan and put our house on the market with a real estate lady on the same day.

Mortgage company told me I was Pre-qualified (not pre-approved) for a mortgage up to $250,000 (they were Nuts!), we could close in 10 days and they need NOTHING from me because of my Credit Score. Honestly, I did not have to give them anything (hubby's W-2, My SSD, tax returns..nothing) and this is the 3rd largest Mortgage Company in the US.

Long story short, we ended up finding a home we both liked, made a contigenent offer based on selling our home & 5 days later they get a full offer. We had 72 hrs to decide if we were going to remove the contigency..oh & another stipulation was to close in 15 days.

WE really wanted this house, so I called the Mortgage Company and told them the info and he said how many months can you make two house payments? I told him I could make 6 mths, laughed & said we would be Broke though.

We closed & moved into our home 14 days laters. We only made 2 house payments for one month. So we lucked out.

The kicker for us in determining we couldn't continue our CC payments was the CC cos. themselves jacked up the interest rate, raised the minimums from 2% to 4% and no negotiation. I had a credit card with BOA I've had since 1978 and they wouldn't budge. CC Companies are Cruel!

Thankfully, I've only overdrawn my checking account once in my life. But I do know Banks make lots of money when you are in OverDraft or they return the check. My ex is a VP for a large southern district Bank.

As for a Hyundai, my Ex bought one when they first came out. I can recall he paid $8,000 for it. It was a 4 door sedan, had a Moon/Sun roof, no power windows or locks & I think it was standard shift. However, that car lasted him 5-6 yrs and had 245,000 miles (was traveling 3 states back then) when he traded in. I don't recall him having any problems with it, except for the color was Red and interior/exterior was fading.

O BTW, my husband's Uncle has one of those fancy KIA's and a KIA SUV. In 4/07, we visited him & rode in the SUV from Scottsdale, AZ to the Grand Canyon and back. It was a nice ride. That fancy KIA sedan we toodled in our town going to eat and shopping. I know one time, he pulled out in front of our car and had to gas it...I thought the car took right off (well at least my neck felt like LOL!).

I agree Congress needs to revamp the Usury law and put Caps on Interest/Fees/Rates on Credit Cards. Gee, dingdong, I must say I agree with everything in your Post.


Luci

[OhioFiler]

How can I get what works for me to work for everyone else?

I have no stress over all this and I don't want anyone else to be stressed neither. I want everyone to be happy.

This may be the funniest thing I've ever read on this website. Did you type that with a straight face?

[debtmonster]

Lots of complaints about Hyundai...

http://www.ripoffreport.com/searchre...submit2=Search!

[OhioFiler]

Look at what Hyundai is doing with their new finance program. They are allowing you to return a car you recently purchased if you lose your job within a certain timeframe w/o taking a hit to your CR.

To me it seems like they are at least trying to take into consideration the economic climate and work with it and consider the consumer and their perspective as priority.

I am sure there are many people out there that will consider this option in these economic times, knowing that there is an "out" if they absolutely need it.

Oh well enough of my blabbing.

Don't think Hyundai is doing this as a gesture of goodwill. They are struggling to sell cars and are trying a marketing gimmick. I suggest you read the fine print on the contract before you praise their altruistic offer.

[debtmonster]

This may be the funniest thing I've ever read on this website. Did you type that with a straight face?

I thought you'd get a kick out of that.

But it's true.

I believe in the power of duplication. What's good for me should be good for you.

If I am not getting collection calls every day when having 60+ creditors on my bankruptcy list, then nobody else should be getting phone calls neither. It's only fair. (I'm a big believer in being fair.)

Last time I visited the Hyundai dealer, they wanted a whopping $17,000 for a stripped Hyundai Accent with manual 5 speed. I told the guy he was out of his mind.

I'm so sick and tired of dealing with car dealers and their so-called "dealer fees" that I will probably have to buy used cars from individuals from this point on. I just need to save the cash money and when I go to Autotrader.com, you check the little box that says "Private Sellers Only" to get rid of the dealers from the search results.

Dealers pad the price to any car, new or used. I'd rather just let the first person eat all of that huge depreciation and then I come in a year or so later into the game after the price of the car has dropped by 50%, then I need to buy it. No games. Both me and the seller drive to the title place and swap the title to my name, then I start handing the person a stack of hundred dollar bills... CASH MONEY!

[JustOverBroke]

How can I get what works for me to work for everyone else?

I have no stress over all this and I don't want anyone else to be stressed neither. I want everyone to be happy.

Being informed is key thats why I sleep well at night I know where my situation will end.

A nice fresh start by the end of summer 09!!!!!!

[dingdong]

Don't think Hyundai is doing this as a gesture of goodwill. They are struggling to sell cars and are trying a marketing gimmick. I suggest you read the fine print on the contract before you praise their altruistic offer.

Aaah man! You mean they are not just being nice!

That is it! They are permanently kicked off my Facebook page as a friend!

( Just kiddin' , don't have facebook page)

These greedy businesses need to start playing nice, then maybe they would get some customers. You need to encourage repeat business.

They place I work for is a restaurant, who shall remain nameless, but they have such a great customer service policy.

If you have a problem with a part of your meal, off it goes off the bill w/o even asking, and sometimes, they even issue a substantial gift card to make sure you come back and give us a second try.

Hospitality and customer satisfaction is the goal. It is basically like you walk in and you have an instant warranty on your experience with our restaurant.

We don't have a lot of problems, but if something happens it is fixed to the guest's satisfaction.

It is a chain and it has been around for a long time.

They also give full bennies to part time employees.

The other restaurant I work for is only worried about keeping labor costs down cause the manager gets a financial incentive for keeping labor below a certain percentage. We run our butts off and do our best to keep service standards up, but when you have 13 tables at once cuz they are too cheap to have another server on the floor, service suffers, food gets to the table cold and they lose business. Instead of spending the extra 40.00 in wages for the day, they lose a customer forever and all of the possible referrals they may give to other potential customers.

Biz owners just don't get it sometimes. You have to protect the customer base you have and not give them any reason to NOT to come back.

[debtmonster]

They place I work for is a restaurant, who shall remain nameless, but they have such a great customer service policy.

If you have a problem with a part of your meal, off it goes off the bill w/o even asking, and sometimes, they even issue a substantial gift card to make sure you come back and give us a second try.

Hospitality and customer satisfaction is the goal. It is basically like you walk in and you have an instant warranty on your experience with our restaurant.

Damned straight, Skippy! You got it goin' on!! We frequent restaurants regularly and often go back to the same ones who were good to us. If the service sucks, I never go back.

I went to the Bonefish Grill in Ocala. I sat down for like 10 minutes and not a single person came to ask me anything. I said, "F' this" and we bolted and went to Mimi's Cafe down the road instead. I was warned about Bonefish.

I never even gave Bonefish a 2nd chance. I don't forgive and forget. I have told everyone I come into contact with who talk about going there and I warn them not to go. I hope they go out of business like the other numerous places in Ocala that have gone out of business.

Isn't that a thing of beauty?

Next time you're in Miami and want some awesome food from Uruguay, I highly recommend .

The food is great.

[OhioFiler]

Damned straight, Skippy! You got it goin' on!! We frequent restaurants regularly and often go back to the same ones who were good to us. If the service sucks, I never go back.

I went to the Bonefish Grill in Ocala. I sat down for like 10 minutes and not a single person came to ask me anything. I said, "F' this" and we bolted and went to Mimi's Cafe down the road instead. I was warned about Bonefish.

I never even gave Bonefish a 2nd chance. I don't forgive and forget. I have told everyone I come into contact with who talk about going there and I warn them not to go. I hope they go out of business like the other numerous places in Ocala that have gone out of business.

Isn't that a thing of beauty?

Next time you're in Miami and want some awesome food from Uruguay, I highly recommend .

The food is great.

Maybe everyone warned Bonefish about you before you got there.