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White Privilege to be in Debt

By someone else following x   2018 Mar 27, 8:09pm 2,113 views   30 comments   watch   sfw   quote     share    


https://www.politico.com/magazine/gallery/2018/03/06/american-personal-debt-photos-000774?slide=0

What does American debt look like? For six years, photographer Brittany M. Powell—who went through bankruptcy herself in 2011—has been finding indebted people through Craigslist, word of mouth and community organizations, shooting their portraits and asking them how much they owe—and how they feel about their situation.
1   PrivilegedtobeWhite   ignore (1)   2018 Mar 27, 8:55pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

Some of these people's quotes are hilarious. Aaron: “The way things are going now in politics doesn’t seem like it’s going to be helpful or favorable to people with student loans. … I have come to terms with the fact that it’s something that I’d be paying for for years and decades.”

In other words, why can't gov't force other people to help pay for the student loans I chose to take out? Pussy. Own up to your decisions and fuck off.
2   FortWayne   ignore (2)   2018 Mar 27, 9:07pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

A lot of student debt. CC companies and student loans really prey on the students.

Construction guy was just a joke, 1m in debt from failed business and he expects government to bail him out.
3   MAGA   ignore (1)   2018 Mar 27, 9:17pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

All this student loan debt. To do what? The parents should have taken control of these kids. No student loans and no credit cards!
4   komputodo   ignore (0)   2018 Mar 27, 9:20pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Over half blamed the govt.
5   DASKAA   ignore (3)   2018 Mar 27, 9:51pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

Remember, folks: one who dies with the most debt - wins!
6   MrMagic   ignore (11)   2018 Mar 27, 9:53pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

jvolstad says
All this student loan debt. To do what? The parents should have taken control of these kids.


It gets worse.

Many parents are the co-signers on those loans. Guess what happens when little Johnny defaults on payment?
7   Ceffer   ignore (1)   2018 Mar 27, 11:19pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

All of this is meaningless unless you know the arc of the debtors and what they did with the money. If you are in business, you quickly learn there are people who consider loans free money as soon as they get it and have very little concept that they will actually have to pay it back.

Before Loan: ingratiating friend
After Loan: prevaricating, hostile adversary and ASSHOLE who will shuck, jive, threaten, play the pity pot, etc. to keep from paying it back.

Debtors LOVE the internet, because it gives them a free forum to slander the people they owe money to with righteous indignation. Money is strange in the way people turn on a dime around it. It is unfortunately easy to develop a jaundiced attitude toward people in general over the way a lot of people behave over their debts.

It's kind of funny, when you have a consult with a collection agency, they really try to get you worked up and full of hatred and contempt for your debtors by calling them all kinds of derogatory names and hope you will gloat at the prospect of harsh measures to collect. I never used them. I got in the habit of getting everything up front, and what debts occurred, if they weren't paid by 90 days I just wrote them off. It made doing business much more peaceful.

Of course, to get elected, Obama made a lot of these morons, in particular the student debt ones, actually think that he would make their debts disappear if he got into office. How did that libby promise work out for all youse guys and gals?
8   MisterLefty   ignore (0)   2018 Mar 28, 4:00am   ↑ like (3)   ↓ dislike (0)   quote   flag        

Start a bank if you want a bailout, you lazy fucks.
9   lostand confused   ignore (0)   2018 Mar 28, 4:50am   ↑ like (1)   ↓ dislike (0)   quote   flag        

MisterLefty says
Start a bank if you want a bailout, you lazy fucks.

Or become a community organizer and get your grubby hands on taxpayer money.
10   lostand confused   ignore (0)   2018 Mar 28, 5:05am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Student loans is just horrible. Someone that young should not be allowed to sign on to loans that can never go away. That is like slavery-any other loan you can discharge in bankruptcy. You can get 5 million dollar mortgage and wipe it out, but get a stupid liberal arts degree and be saddled with 100k in debt is just ridiculous. Being young and dumb is expected.
11   joshuatrio   ignore (0)   2018 Mar 28, 5:26am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Minus the construction guy and systems analyst - most of the people looked like hipster types...

Come on' - event planner, artist, insurance agent and teacher?

Those are low paying careers.

Those were stupid decisions and career choices.
12   MoneySheep   ignore (0)   2018 Mar 28, 7:45am   ↑ like (1)   ↓ dislike (0)   quote   flag        

It is important to have good health. If you have medical issues, life isn't going to be kind to you. Such as this woman "...I have Parkinson’s disease. Paying for all my medications was super expensive."

For those with student loans, they should have their head examined. You don't need a "formal education" to live a good life, or becoming rich.
13   P N Dr Lo R   ignore (0)   2018 Mar 28, 8:33am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Ceffer says
If you are in business, you quickly learn there are people who consider loans free money as soon as they get it and have very little concept that they will actually have to pay it back.
No. 11: "I destroyed my credit with credit cards because I didn’t understand how credit works. On my college campus, there were credit card applications left and right, just lying on tables. … I have a very addictive personality."
14   dr6B   ignore (1)   2018 Mar 28, 8:33am   ↑ like (1)   ↓ dislike (0)   quote   flag        

lostand confused says
Student loans is just horrible. Someone that young should not be allowed to sign on to loans that can never go away. That is like slavery-any other loan you can discharge in bankruptcy. You can get 5 million dollar mortgage and wipe it out, but get a stupid liberal arts degree and be saddled with 100k in debt is just ridiculous. Being young and dumb is expected.


Question is why parents do not teach them that being in debt is bad. Perhaps because parents still are in debt and can not live without changing car every 4 years and buying a McMansion. Apple does not fall far from the tree.
15   zzyzzx   ignore (1)   2018 Mar 28, 8:48am   ↑ like (2)   ↓ dislike (0)   quote   flag        

People need to work their way through college. I've done it TWICE!!!
16   zzyzzx   ignore (1)   2018 Mar 28, 8:50am   ↑ like (0)   ↓ dislike (0)   quote   flag        

$50,000; Student loans

Christopher Ard. Systems analyst. New Orleans, LA.

“When I began working for FEMA after Hurricane Katrina, I enrolled in a public service loan forgiveness program where over time, after 10 years, your loans are forgiven. But then I called two years ago and they pretty much told me I wasn’t enrolled. … So basically I’ve had to start from scratch.”


In 10 years you should be able to pay off 50K in loans, no problem.
17   BayArea   ignore (0)   2018 Mar 28, 8:51am   ↑ like (2)   ↓ dislike (1)   quote   flag        

Liberal thought process in a nut-shell.

Everyone's fault except my own!
18   Tenpoundbass   ignore (11)   2018 Mar 28, 9:13am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Put me on a pedestal and kiss my feet you inferior bitches.
Libbies said you're worthless prove them wrong?
19   MrMagic   ignore (11)   2018 Mar 28, 9:16am   ↑ like (4)   ↓ dislike (0)   quote   flag        

drB6 says
Question is why parents do not teach them that being in debt is bad. Perhaps because parents still are in debt and can not live without changing car every 4 years and buying a McMansion. Apple does not fall far from the tree.


This guy wins!!!

End of discussion.
20   MrMagic   ignore (11)   2018 Mar 28, 9:22am   ↑ like (2)   ↓ dislike (0)   quote   flag        

zzyzzx says
In 10 years you should be able to pay off 50K in loans, no problem.


If they do it the right way, it should be half of that, or less.

My oldest son, who ended up with 2 degrees, after 6 years in college (don't ask) ended up with like $22K in loans to pay back. I didn't cover any of his tuition costs or sign on any loans.

Youngest son, who has 2 degrees and a minor, after 5 years, came out with 24K in loans. Same thing, I didn't cover any of his tuition costs or sign on any loans.

An education can be had at lower costs, if the parents aren't clueless and do their job guiding the kids.
21   BayArea   ignore (0)   2018 Mar 28, 9:37am   ↑ like (2)   ↓ dislike (0)   quote   flag        

Sniper says
An education can be had at lower costs, if the parents aren't clueless and do their job guiding the kids.


This is exactly right.

An 18yr old kid is clueless. If their parents are equally clueless, bad decisions will be made (like getting into heavy school debt to get jobs that don't pay well).
22   komputodo   ignore (0)   2018 Mar 28, 10:26am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Sniper says
It gets worse.

Many parents are the co-signers on those loans. Guess what happens when little Johnny defaults on payment?


But they want their kids to have all the stuff they didn't have when they were kids.....because they are "good parents".
23   Malcolm   ignore (1)   2018 Mar 28, 10:37am   ↑ like (0)   ↓ dislike (0)   quote   flag        

komputodo says
It gets worse.

Many parents are the co-signers on those loans. Guess what happens when little Johnny defaults on payment?


Truly disgusting. And why now? I mean, no one had to cosign for my government loan way back when. I actually put it down on a house. Hey they said it was also for housing.

What has changed to where parents have to cosign? That seems like total entrapment.
24   Ceffer   ignore (1)   2018 Mar 28, 11:06am   ↑ like (0)   ↓ dislike (0)   quote   flag        

errc says
If America was a Capitalist country, there would be a very simple solution called Bankruptcy


Student loans are forever, because of abuse many years ago where students would graduate and go bankrupt right away and void their debt for undergraduate and professional studies. It became the rage for doctors and new law graduates to do this. Banks stopped lending altogether.

You now can't declare bankruptcy on student loans, which fostered the new industry of predatory lending to students, which has also lead to education cost inflation and the emergence of any number of fly by night degree factories. Add to this that the gov will extend these credits to "trade schools". There were threads around here years ago about news articles in which men would date women with school debts, marry them, and then find out they were also married to the loans. It puts another dimension on the female desperation to lock onto men like heat seeking missiles.

Protecting the debtors has consequences, because the dipshits don't pay back if they can find hook or crook not to do so. This means no money is available for future loans, and the dipshit "winners" screw subsequent generations trying to get loans.

Protecting the lending institutions results in predatory practices and economic displacements aka deceptive practices and service inflation.

Take your choice. Doesn't seem to be a reasonable middle ground.
25   theoakman   ignore (0)   2018 Mar 28, 12:24pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

There is middle ground. You can't discharge it in the first 10 years.
26   HeadSet   ignore (1)   2018 Mar 28, 12:40pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

.banks stopped lending altogether

Best option. If not for loans, college would be paid for by savings (you know you should start when the kid is born), scholarships, work while attending, sponsorships (a company pays, but you get a work obligation), or pay as you go. This would bring down the costs and purge so many useless degrees. Plus, more people would see the benefit trade schools over colleges, instead of railroaded into the college track.
27   MrMagic   ignore (11)   2018 Mar 28, 1:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Malcolm says
What has changed to where parents have to cosign?


The price.
28   TwoScoopsOfSpaceForce   ignore (4)   2018 Mar 28, 3:27pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

And Black Privilege to redirect Student Aid in the name of Fashion.

Howard University president confirms financial aid scandal





Tyrone's job was to inform other students they couldn't get more financial aid, and would have to apply outside the University. This he did while embezzling almost half a million dollars.
29   Ceffer   ignore (1)   2018 Mar 28, 5:37pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Let me guess. Tyrone is headed for Wall Street.
30   BayArea   ignore (0)   2018 Mar 28, 7:34pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Ceffer says
Let me guess. Tyrone is headed for Wall Street.


Tyrone is headed to jail.




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