slowrev
Elite Member
The laws are increasingly to protect business interests, not the rights of the individual.
Ben
Ben
Identity thieft - Debt responsibility?
- Thread starter Henro
- Start date
- Views: 2697
Unclebuck257
Platinum Member
This whole problem of identity theft has now brought to light in the PUBLIC's eye what very lax regulations there actually are on the personal information for each one of us. The kicker is, that it's been like this for years now and the crooks have known about it for years. The crooks have just now gotten to be pigs about identity theft and have done too much of it and as a result, caused this uproar and legislation to help prevent identity theft.
Absolutely NONE of your personal info is confidential anymore and is out there to be had by whoever knows enough to get it. Blame that on the electronic age!! ANY computer can be hacked by the right person, thus giving up any of it's info.
As far as this new bankruptcy law goes, I personally think it stinks and should be repealed ASAP!! No, I've never filed Bankruptcy, but I know those who have. They did NOT go out blatantly and run up credit card bills period, and certainly didn't use those cards for frivilous purchases.
For example..A problem pregnancy caused the wife to be bedridden the last 4 months of the pregnancy, thus causing the loss of her paycheck. Medical bills were huge, and credit cards, until maxed out, were used to buy groceries and just pay general bills. By the time it was over, a couple in their 20's owed over $20,000.00 in credit card debt and over $200,000.00 in medical bills. There was no way, and God Knows they tried, to ever pay off that amount of debt.
Finally, I talked them into filing personal bankruptcy and starting over new. They finally did and for years now, they have been living a normal life, with normal troubles and problems, unburdened by that $220,000.00 in debt from years ago they could NEVER have paid off anyway.
Before you go getting critical on me, just remember that these were two AMERICAN citizens, who are both professionals, work hard, pay taxes and are just like you and me, except they had a medical emergency that could hit any of us. Why shouldn't they, in the end, get the same FREE medical that an illegal alien gets when they illegally cross into this country, and NEVER pay for a dime of their treatment, before they go back across the border again. Sorry, but I see way too much of that nonsense, living here in Texas.
Absolutely NONE of your personal info is confidential anymore and is out there to be had by whoever knows enough to get it. Blame that on the electronic age!! ANY computer can be hacked by the right person, thus giving up any of it's info.
As far as this new bankruptcy law goes, I personally think it stinks and should be repealed ASAP!! No, I've never filed Bankruptcy, but I know those who have. They did NOT go out blatantly and run up credit card bills period, and certainly didn't use those cards for frivilous purchases.
For example..A problem pregnancy caused the wife to be bedridden the last 4 months of the pregnancy, thus causing the loss of her paycheck. Medical bills were huge, and credit cards, until maxed out, were used to buy groceries and just pay general bills. By the time it was over, a couple in their 20's owed over $20,000.00 in credit card debt and over $200,000.00 in medical bills. There was no way, and God Knows they tried, to ever pay off that amount of debt.
Finally, I talked them into filing personal bankruptcy and starting over new. They finally did and for years now, they have been living a normal life, with normal troubles and problems, unburdened by that $220,000.00 in debt from years ago they could NEVER have paid off anyway.
Before you go getting critical on me, just remember that these were two AMERICAN citizens, who are both professionals, work hard, pay taxes and are just like you and me, except they had a medical emergency that could hit any of us. Why shouldn't they, in the end, get the same FREE medical that an illegal alien gets when they illegally cross into this country, and NEVER pay for a dime of their treatment, before they go back across the border again. Sorry, but I see way too much of that nonsense, living here in Texas.
Bird
Rest in Peace
Identity theft is a problem that everyone should be aware of, even if we don't have any good solutions, but I'd like to remind everyone that this thread is spreading into POLITICS and that's a forbidden topic on TBN. /forums/images/graemlins/wink.gif
slowrev
Elite Member
A very high percentage of personal bankruptcies are due to medical problems, even for those with insurance!
Ben
Ben
slowrev
Elite Member
Bird,
Actually this topic started out as political as many things that effect our lives are. I figure the identity theft problem will be worked on once several high level politicians suffer from it. Our history is full of the masses suffering from something or another until someone important gets burned by the issue, then something is done. Railroad safety for instance...used to be horrible until a trainload of politicians and businessmen crashed, then something was done. Sad but true.
Ben
Actually this topic started out as political as many things that effect our lives are. I figure the identity theft problem will be worked on once several high level politicians suffer from it. Our history is full of the masses suffering from something or another until someone important gets burned by the issue, then something is done. Railroad safety for instance...used to be horrible until a trainload of politicians and businessmen crashed, then something was done. Sad but true.
Ben
Wingnut
Veteran Member
The problem that I have with all the folks who believe the laws should be lax are the sort of story that you posted. Sure, there are legitimate cases ... and the new law will not hurt them any more than they are alreay hurt. If you do not have the ability to repay, then you will still fall under Chapter 7. However, all those people that lived off credit for years and accumulated all the toys that I've paid cash for .... will no longer get a free ride.
I'm always puzzled by those folks who say this is all for the banks and credit card companies and businesses and designed to hurt the "little guy". Maybe I am somewhat of a Pollyanna .... but I've never seen a case yet where the credit card company forced the cardholder, at gunpoint, to spend, spend.
Similarly, when medical emergencies happen ... I'm sorry ... but what part of paying with a credit card when you know there's no chance you can make the payments is forced on the cardholder. We used to be quite proud, in North America, of our names and our reputations ... and our credit-worthiness.
Back when I was much younger and more foolish, and in the Canadian Armed Forces, I racked up a pretty impressive pile of debt ... because I had that youngsters attitude that I "deserved" a car and clothes and gas money and the like. I didn't re-up because I realized that - at that pay rate - I would be in debt for most of my life .... landed a job in the arctic, and worked 9 months with no time off (including a second job as night watchman) in order to pay back those banks and credit card companies that had thought I was trustworthy and loaned me money on my name ...
Sure, I'm certain that occasionally a scenario happens where debt is shouldered that cannot be paid off due to unforseen circumstances - such as the death of the main breadwinner. But I'm also certain that's NOT the norm. The norm is all these "entitled" people that start off the moving-away-from-home life by living large on credit ... and I have no use for that sort. They've given us high housing costs, high credit card rates, and a nation that has largely forgotten CASH or SAVINGS.
Sorry .... I've worked hard all my life to improve my circumstances and protected my name and creditworthiness almost religiously .... and I very much resent those that abuse credit and then whine about the unfairness of it all.
pete
I'm always puzzled by those folks who say this is all for the banks and credit card companies and businesses and designed to hurt the "little guy". Maybe I am somewhat of a Pollyanna .... but I've never seen a case yet where the credit card company forced the cardholder, at gunpoint, to spend, spend.
Similarly, when medical emergencies happen ... I'm sorry ... but what part of paying with a credit card when you know there's no chance you can make the payments is forced on the cardholder. We used to be quite proud, in North America, of our names and our reputations ... and our credit-worthiness.
Back when I was much younger and more foolish, and in the Canadian Armed Forces, I racked up a pretty impressive pile of debt ... because I had that youngsters attitude that I "deserved" a car and clothes and gas money and the like. I didn't re-up because I realized that - at that pay rate - I would be in debt for most of my life .... landed a job in the arctic, and worked 9 months with no time off (including a second job as night watchman) in order to pay back those banks and credit card companies that had thought I was trustworthy and loaned me money on my name ...
Sure, I'm certain that occasionally a scenario happens where debt is shouldered that cannot be paid off due to unforseen circumstances - such as the death of the main breadwinner. But I'm also certain that's NOT the norm. The norm is all these "entitled" people that start off the moving-away-from-home life by living large on credit ... and I have no use for that sort. They've given us high housing costs, high credit card rates, and a nation that has largely forgotten CASH or SAVINGS.
Sorry .... I've worked hard all my life to improve my circumstances and protected my name and creditworthiness almost religiously .... and I very much resent those that abuse credit and then whine about the unfairness of it all.
pete
MikePA
Super Moderator
<font color="blue"> A very high percentage of personal bankruptcies are due to medical problems, even for those with insurance! </font>
What's a 'high pecentage' and what is your source for this information?
The one person I've heard on the radio sharing his personal experience as an example of someone who declared personal bankruptcy due to medical bills admitted that he was deep in credit card debt then had medical bills he couldn't pay. In this case, the problem was not medical bills, it was his credit card debt.
While there are valid reasons for declaring bankruptcy, let's not forget that debt doesn't just disappear. We all pay for it through higher interest rates on loans and lower interest on savings.
What's a 'high pecentage' and what is your source for this information?
The one person I've heard on the radio sharing his personal experience as an example of someone who declared personal bankruptcy due to medical bills admitted that he was deep in credit card debt then had medical bills he couldn't pay. In this case, the problem was not medical bills, it was his credit card debt.
While there are valid reasons for declaring bankruptcy, let's not forget that debt doesn't just disappear. We all pay for it through higher interest rates on loans and lower interest on savings.
OP
Henro
Elite Member
- Joined
- Jul 4, 2003
- Messages
- 4,982
- Location
- Few miles north of Pgh, PA
- Tractor
- Kubota B2910, BX2200, KX41-2V mini EX
<font color="blue">What is the difference a regular theft & identity theft? I you tractor is stolen you would still owe the bank for the note. </font>
First let me say that I kind of regret the bankrupsy connection to my question...that is beside the point and was just mentioned because that is where the statement regarding indentity theft appeared and turned my brain on... /forums/images/graemlins/shocked.gif /forums/images/graemlins/blush.gif
There is, in my opinion, a HUGE difference between something I personally purchased being stolen, and the chance of my being personally held responsible for a transaction I took no part in whatsoever. This is the issue I have.
If I'm part of something that is one thing. If I have no part of something, but when it is all over I am expected to be responsible for something I had no knowledge of whatsoever...well, that just does not sit well with me at all.
Is there identity thieft insurance? My homeowners would cover the stolen tractor...I don't think I have any insurance to cover indentity theft, except possibly an umbrella policy...but doubt that covers it either.... /forums/images/graemlins/frown.gif
First let me say that I kind of regret the bankrupsy connection to my question...that is beside the point and was just mentioned because that is where the statement regarding indentity theft appeared and turned my brain on... /forums/images/graemlins/shocked.gif /forums/images/graemlins/blush.gif
There is, in my opinion, a HUGE difference between something I personally purchased being stolen, and the chance of my being personally held responsible for a transaction I took no part in whatsoever. This is the issue I have.
If I'm part of something that is one thing. If I have no part of something, but when it is all over I am expected to be responsible for something I had no knowledge of whatsoever...well, that just does not sit well with me at all.
Is there identity thieft insurance? My homeowners would cover the stolen tractor...I don't think I have any insurance to cover indentity theft, except possibly an umbrella policy...but doubt that covers it either.... /forums/images/graemlins/frown.gif
thcri
Elite Member
Henro,
Did they get your hat and beer mugs??? /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif
murph
Did they get your hat and beer mugs??? /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif
murph
