RealTown's RealTalk

>>Dick Dennis wrote in part:
>>He pointed out that in Reagan's administration they passed a law that seniors, if they are receiving social security especially if it happens to be their only income, ARE JUDGEMENT PROOF. All my credit card debt is going bye-bye because of that little-known law. Go ahead and look it up..<<

I did look it up and found that social security income cannot be garnished. I found nothing that indicated other assets cannot be attached.

Fred
fred@salzer.us
Poway, CA

Dick Dennis wrote:

Shame on you, Dick Dennis! 
You "got stuck"?
You chose to speculate on the flip. You made the decision to run up the credit cards.  You are responsible for your own debts, regardless of your age.  You and people with attitudes like yours are responsible for the mess we're in now.
But, hey, no problem.  Go ahead and walk from the $55,000 you owe.  And might as well keep right on charging on those cards.  The rest of us will pick up your tab.  Dick.  You Old Problem Solver!

Steve Jameson, e-PRO
Steve@SteveJ.biz
Santa Rosa, CA

Deede,

We obviously will never agree on this one.
NOONE forced money on anyone.  If Wall Street was greedy, then the people who took advantage of the offers were at least as greedy.  If you (they) are so naive that you really believe the money was "FREE" then there's not much anyone can say  to convince you otherwise.

Many of the people who did the no-doc/no-down/125% loans committed fraud when they signed the loan papers. The loan agents and realtors who encouraged and facilitated those transactions were the enablers.

Do I expect a 77 year old person to pay the credit card companies?  YES!
Regardless of age, people should be responsible for their choices.
There is a saying in the flying business:  "Poor planning on your part does not constitute an emergency on my part."  Poor choices are just that.  Do what it takes to make it right and quit blaming someone else for your own mess.

Steve Jameson
e-PRO
Santa Rosa, CA

Go ahead and walk from the $55,000 you owe. And might as well keep right on
charging on those cards. The rest of us will pick up your tab. Dick. You Old
Problem Solver!
Whoa!, Steve Jameson!
Stop blaming the poor guy who was snookered into 'the flip' game'. No one
would have done it if the lenders had not dangled
the 'completely irresistable' FREE money! Have you EVER seen a real estate
downturn like we have now? Of course not! This could not have been
predicted, and IS NOT THE FAULT of most of the borrowers. It is the fault of
Wall Street speculation and greed.
Exactly WHAT do you expect a 77 year old senior to do to make 55K and give
it to the credit card company? They do not have many options.
I am as angry as you are about the 'flippers' who have gone bust. But, they
could have NEVER had the opportunity, if free money and promises, had not
been literally pushed on them. They made a bad 'business decision'. Wall
Street and the banks also made a 'bad business decision', but THEY are
getting a bail out, the 'flipper' is not. How much more do you expect him to
lose at 77 years old? It's not like he can start over again.
 

--
Deede Wockenfuss
 

---
 

Yes Deede... but speculation is risky... if I lose on an investment, I pay
the loss... If I win, I retain the profit... it was my choice to gamble, and
it is my money that I must use to pay the piper... the issue of abandoning
the debt with the excuse that I am just too old to pay it back, is an
argument that should result in plenty of guilt and penalty... it is like
saying that because the banks were dumb, we should bail them out and they
should get off without penalty... if you agree with that, then you are
consistent in agreeing that this "choice" on the part of a speculator is
sound judgment.
 

Not saying anything about the particular persons involved, or their
circumstances... but if I lose, I pay... it is only fair that others who
took the same risks, pay the same penalties.
 

Have a great day!
 

Best regards,
 

Paul Silver
Focus Professionals, Inc.