Debtors Prisons Have Returned to America??

[FORD]

Wiping out private debt would unleash enormous spending in our economy in ways we haven't seen since the boom years of the 1950's and 1960's. The only reason it's not seriously being considered by our lawmakers today is because a debt jubilee would diminish the profits of the banksters who thrive - and prey - on an indebted nation. But, in the not-to-distant future, as our economy continues to collapse under the weight of tens of trillions of dollars in private sector debt, our nation will be faced with an ultimate choice: Strike Debt or watch our economy completely collapse in a way that will make 1929 look like a picnic. Let's make the right choice now!

[Kristy]

Go to an E.R. with no insurance, receive a $300 bill form a doctor who saw you for less than 5 minutes. Have no money to pay you go to jail. Yeah, I can see that happening.

[FORD]

Hopefully not.... considering the one time I ever had to go to the ER for anything, it was for a bad tooth abcess, which was so infected it might have killed me if I had waited any longer. Was broke at the time, so I never paid a dime for it, but it wasn't exactly top of the line dentistry either, so I pretty much got my money's worth. And I did have to pay for the antibiotics and Rush Limbaugh Happy Pills they gave me.

Not to worried about it though.... that was so long ago that it's way beyond the statute of limitations.

[Kristy]

It's more than likely they'll destroy your credit for seven years.

[FORD]

It's more than likely they'll destroy your credit for seven years.

Well, at the time, the criminal terrorist bastards at Bank of Unamerica had already done that for most of the 1990s, so it wouldn't have made any difference.

[Nitro Express]

A kid in my sister's neighborhood got bit by a rattlesnake and the cost of the anti venom at the hospital was $40,000 and no that is not a typo. Unreal.

[Hardrock69]

All you have to do is file for bankruptcy....erase all your debts....

[Nitro Express]

Wiping out private debt would unleash enormous spending in our economy in ways we haven't seen since the boom years of the 1950's and 1960's. The only reason it's not seriously being considered by our lawmakers today is because a debt jubilee would diminish the profits of the banksters who thrive - and prey - on an indebted nation. But, in the not-to-distant future, as our economy continues to collapse under the weight of tens of trillions of dollars in private sector debt, our nation will be faced with an ultimate choice: Strike Debt or watch our economy completely collapse in a way that will make 1929 look like a picnic. Let's make the right choice now!

The debt in itself is a fraud because the banks have loaned more than they had assets to loan and then of course there is an endless supply of money from the Federal Reserve at zero percent interest for the big lenders. The money is costing the largest banks nothing then they loan it to people who really shouldn't have it and when they default they get punished and when the banks default the politicians bail them out and then the federal income tax payer gets punished. The citizens of Iceland were done with this and threw such a fit they convinced the politicians to arrest and jail the corrupt bankers and let the banks fail. It has not hurt their economy one bit. In fact it helped it.

No it's gone far beyond reality and it's time to audit the Federal Reserve which everyone should contact their congressmen and senators and tell them to do so. Unless enough people stand up and demand it be done it will be business as usual. This goes on because not enough people care or understand the problem. Opening up the Fed will expose more bank fraud.

We really do have to let these banks fail and wire off the debt and start over.

[Nitro Express]

All you have to do is file for bankruptcy....erase all your debts....

I don't believe you can do that with credit card or student loan debts though. One thing for sure, they want to get everyone in debt and that is why they are jacking tuition and healthcare prices. I had a friend who had to have some dental work done in Mexico. He was in Puerto Vallarta staying in a condo there. He went to the dentist and there was a list of prices and a girl who took your money. The waiting room was pretty plain but the dentist has all modern equipment and him and his staff were all trained in the US. To have a cavity filled was $20.

[clarathecarrot]

All you have to do is file for bankruptcy....erase all your debts....

I BELIEVE this situation is in refference to FEDERAL DEBT you cannot claim bankruptcy on a FEDERAL LOAN or IRS DEBT things like that.

You can claim bankruptcy against personal debts to some credit card and chevy motor credit, and joe shmoe the plumber and the milk man they would have to sue you in court and collect the money and you can claim bankrupsy after the fact and get out of it.

Or before as in some cases.

These prsonal debts to businesses would more than likey be judged by a court and they would lower the claim to something you can afford the government will do that also but if you don't pay the government back they can throw you in jail in this scenario and you cannot get out of it with bankruptcy.

Not on a debt to the govenment.

I am not a lawyer but I have talked with criminal types on a barstool and I think this is the straight dope.

[sadaist]

Actually some creditors have found a way to have people jailed over debts. When you default they can file a summons to appear in court so they can get a judgement/lien. If you don't show up (which most people don't) they can actually start a process to have a bench warrant issued for your arrest for failure to appear.

Now you're in jail for not paying a bill.

Its terrible & underhanded but it is happening.

[Nitro Express]

The ironic part is many of these institutions throwing people into prison had gone into debt themselves and needed the government to bail them out. I hope this teaches people you let poorly ran and/or corrupt financial institutions fail. Sure it may burn some stockholders but then it's their fault for not doing homework on their investment. Why should people who have had nothing to do with the problem be punished?

[FORD]

The ironic part is many of these institutions throwing people into prison had gone into debt themselves and needed the government to bail them out.

Exactly what Thom Hartmann says in the above video, and exactly what I have been saying for years. The bailout should have gone to the PEOPLE. And when the people were able to pay off their mortgages, credit cards, and student loans, the banks would get paid anyway. That would have been the sensible way to do it, and the way to save the economy, since people who don't have to pay off debt are more likely to spend the money they have. Which is what the real economy (as opposed to the Wall $treet casino fictional "economy") is completely based on.

[Kristy]

Now you're in jail for not paying a bill.

That made perfect sense, Mr. Carbon Footprint Guy.

[Hardrock69]

I don't believe you can do that with credit card or student loan debts though.

The only debt you cannot erase is child support, student loans, and some tax stuff.

All else you can. Credit cards for sure.