RE: As debt deepens, wage garnishment rises

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RE: As debt deepens, wage garnishment rises - 4/5/2010 11:18:20 AM

LadyEllen

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Indeed Servant.

I suspect personal responsibility is probably seen as unfashionable these days though, what with it only seeming to apply to one side of the lending equation, and doubly so; the borrower must answer his own personal responsibility and the personal responsibility of the lender according to his losses.

E

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RE: As debt deepens, wage garnishment rises - 4/5/2010 11:23:42 AM

servantforuse

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I wonder is she also missed the court date when her wages were being garnished ?

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RE: As debt deepens, wage garnishment rises - 4/5/2010 11:42:21 AM

LadyEllen

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That seems to be what the link says Servant.

Naturally she ought to have attended court, put in a defence and possibly come out of it all better. But then it appears the court case only happened because she didnt bother to deal with her problems in the first place by offering to negotiate a settlement. I would suspect it all comes down to ignorance and fear of the system, obliging debtors to put their heads in the sand rather than deal.

But lets be clear here, the banks should not be doing what they are doing the way they are doing it. It is their irresponsibility that had led to this entire situation and to many of these individual cases. Court recovery and enforcement action should be rare in the circumstances, with banks taking the onus of bearing at least half of the strain of their irresponsible lending practices.

E

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RE: As debt deepens, wage garnishment rises - 4/5/2010 11:48:17 AM

pahunkboy

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That is why I am calling for a JUBILEE.

look it up....

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RE: As debt deepens, wage garnishment rises - 4/5/2010 11:59:08 AM

Mercnbeth

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~ Fast Secret ~

sssshhhhh - Don't tell anybody - this information comes from 'inside' banking sources....

MANY bank collection departments are accelerating their previously considered 'nuclear option' of wage garnishments because they fear more government intervention and regulation prohibiting them to do so based upon track record. They have gotten more preemptive with those having multiple delinquencies, because they want to be first in line. Only 1 garnishment at a time is allowed in the majority of cases.

It may be an example of the lack of confidence in the economy as well as those in charge having the ability to do anything positive about it. What do you think?

...Don't tell anyone!

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RE: As debt deepens, wage garnishment rises - 4/5/2010 4:10:34 PM

Aneirin

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From: Tamaris
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quote:

ORIGINAL: LadyEllen

That seems to be what the link says Servant.

Naturally she ought to have attended court, put in a defence and possibly come out of it all better. But then it appears the court case only happened because she didnt bother to deal with her problems in the first place by offering to negotiate a settlement. I would suspect it all comes down to ignorance and fear of the system, obliging debtors to put their heads in the sand rather than deal.

But lets be clear here, the banks should not be doing what they are doing the way they are doing it. It is their irresponsibility that had led to this entire situation and to many of these individual cases. Court recovery and enforcement action should be rare in the circumstances, with banks taking the onus of bearing at least half of the strain of their irresponsible lending practices.

E

This is the case with many I know, fear of the system and fear because of a foregone conclusion the system always seems to find in favour of the banking system, as is obvious to many when the government decided to shore up banks with public money, but do nothing for the public who suffered losses and subsequent difficulties including home repossessions because the banks fucked up , got away with it and then rewarded themselves with hefty bonuses.

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