But how is that socialism?
It was a long time ago, I donāt remember why I chose that title!
I think at the time I thought that those ads, even if no one ever acted upon them, were just subliminally telling people that it was okay to rack up debt they couldnāt pay because they could just get it all āFORGIVEN!ā (to quote the announcer) - thus teaching people that not paying your debts was just fine.
Sort of like socialism where no one has any debt because they get free money. (a generalization, I know).
Okay, I know, but that doesnāt mean you are forced to pay it. I have seen people skip out on hundreds of thousands of dollars in debt because they structured their life around not paying it. Itās difficult, but it can be done.
And the banks lost out on their money, but donāt you worry about the bankers, the tax payer bailed them out.
That begs the question. Do people with miserable lives actually realize thereās a better way?
Iāve got an acquaintance who, over the last 20 years, has been financing the deadbeat son and daughter of an ex-girlfriend, people he still has a fondness for. Theyāre young, both on social security, meth heads (a big problem in Wyoming), and always borrowing money from him and never paying it back.
Itās his fault for continuing to loan them the money, but the impression I receive is that they live in poverty and are doing absolutely nothing to get themselves out of it. they live from paycheck to paycheck because any money they could have saved goes to drugs, and they certainly have no intention of going to a school or trade school to learn something that would get them a good jobā¦
And they seem to be just fine with that.
āThere are certain types of people, who donāt care about their credit scores at all,who see this as an opportunity to buy $10,000 worth of stuff and not pay one red cent on their debt.ā
Yeah, imaginary. 
āInterest rates are so people/organizations with money can make yet more money from the people who have no moneyā
Did this make sense when you typed this out? Asking for a friend.
I agree its harder with rates where they are now, but how is he not wrong?
Yes it did make sense.
Take it in context.
Highroller stated: āLoaning money is a risk, thatās why you have interest rates.ā
And my response was that businesses who loan money donāt charge interest because āitās a risk to loan moneyā, they charge interest because itās how they make their money!
What a fascinating business model! Only in America would you target those who have no money to accrue money. Oh wait. Literally no one does that here. Never mind.
I want to thank everyone in this thread for the pointers on getting rid of unsecured debt. This is gonna be so awesome! lol
I think youāre wrong thereā¦
Well thereās a shockā¦
By the time the debt goes into collections the banks have already written it off.
