Comments on: Ralph Nader: The Cash or Credit Conundrum

By: Edward H.C Graydon

Edward H.C Graydon — Thu, 28 Jan 2010 23:14:09 +0000

I really enjoy this publication ,and think that it caters to a more articulate crowd; this aside in my last post I mentioned a article that was written in Bussiness week; I believe that it was headlined as “Till death do us part”I really do believe that the article taught me something that I did not know, as far as third party collections on discharged debt,again I think all readers can learn from that issue of bussiness week. I will also go on record as to the fact;that I believe that should this practise continue into the future with no goverment intervention ;then it will be the down fall of the middle class in this country,with all the talk by Obama,and his talk of implementing change to the banking act,how is it that people are not being able to recieve the new debt free beginning ,that has been ordered by a bankrupsy judge?I liked Obama ,and I to was impressed with his outlook for change {and his speeches where great} but to me they remain speeches. I am not sure, if there are laws that stipulate that a federal act of bankrupsy may in some cases ;not be allowed collected in some states, but if this is the case ,then semantics and politics rule the working man ,that comes into hard financial times.Because Bankrupsy has been abused by all sides in the past ,maybe this form of indifference to the law is the result. All I know for sure is, that I would not have my name connected to these actions,from either side, as to me it is a form of intended fraud. It can be avoided by reduceing your spending outlay, and always being prepared for the worse case scenario.

By: Edward H.C Graydon

Edward H.C Graydon — Thu, 28 Jan 2010 16:59:26 +0000

I would like to bring to readers attention a article that was published in the Bussiness Week Magazine; that I believe lends issues ,of banking and moral issues that are know plagueing the Country. In the latest issue of Bussiness Week, it talks of the problems of discharged debt, being overlooked by thrid party collection agencys. I found that it was relevent to the article by The Independent; I believe that if a legally binding discharge; by a judge is being ignored ,then how can a person absolve debt? they can not and the collection will continue. I am absolutely opposed to a judges order being ignored, and am shocked by the fact that a thrid party collection house has the gull to ignore it. I am curious as to how the federal court allows this behavior to continue ,as bankrupsy is a federal act.

Edward H.C Graydon

By: Brent McMillan

Brent McMillan — Wed, 14 Oct 2009 21:10:58 +0000

Hi Richard:

I use a debit card to rent a car. (I regularly use Budget Car Rental which accepts debit cards.) They are becoming more and more accepted. Some companies, like Ikea, won’t even accept credit cards anymore. They only accept debit cards.

By: Edward H.C Graydon

Edward H.C Graydon — Wed, 07 Oct 2009 21:30:44 +0000

I believe that Brents statement ;should have stated “avoid secured credit”and try and get :unsecured credit as it is harder for the banks to collect on. I mean the banks are going to sue you if you do not pay; but unsecured is harder to collect on.I think that the best possible way to “consume” is to pay cash ;or always buy on sale.I do not think that credit cards are the beginning of the problem ;it is the end user that is the issue;spend less and work harder.

Remember?The number one issue! If you have assets and you do not pay ; the banks will sell them to collect on there debt. Do not go homeless.

By: Other Mr. T.

Other Mr. T. — Wed, 07 Oct 2009 20:43:04 +0000

Mr. Winger, 2 words: “Charge Card”. I realize most people can’t tell the difference between credit cards and charge cards. My neighborhood (small, privately owned) car rental place takes my paper checks as payments, since I’ve rented there repeatedly – they charge my charge card the deposit and recredit it upon the car’s return. When you do repeated business with small neighborhood businesses, you can pretty much call your own payment terms.

By: Richard Winger

Richard Winger — Tue, 06 Oct 2009 20:35:25 +0000

Brent, how do you rent a car if you have no credit cards?

By: Brent McMillan

Brent McMillan — Tue, 06 Oct 2009 19:05:42 +0000

Avoid unsecured debt like the plague. It is one of the ways that people are being slowly but surely enslaved. I cut up and canceled all of my credit cards in 1998. They are a racket.

Between 2002 and 2008 the rate of saving for U.S. Households was “0″. One positive side of the recent financial crisis is that individuals and households are starting to save again.