60 Minutes busted swapping Harris interview answers

[XpertDBA]

A shit credit score.
No credit cards.
No loans unless the interest rate is extremely high.
And the bankruptcy pointed out on every credit check.....and nobody wants you.

And I believe these last for nearly a decade.

You'd think gil has the ability to google or chatgpt to learn about these things that 99% of the general public already knows about

[XpertDBA]

A shit credit score.
No credit cards.
No loans unless the interest rate is extremely high.
And the bankruptcy pointed out on every credit check.....and nobody wants you.

And I believe these last for nearly a decade.

You'd think gil has the ability to google or chatgpt to learn about these things that 99% of the general public already knows about

Speaking of bankruptcy, you should read this article at: https://projects.propublica.org/graphic ... a-analysis
Shows that blacks have THREE times the rate of Chapter 13 bankrupty filings as their white counterparts. No wonder the Black community keeps voting Democratic year after year. More free stuff.

[gil]

A shit credit score.
No credit cards.
No loans unless the interest rate is extremely high.
And the bankruptcy pointed out on every credit check.....and nobody wants you.

And I believe these last for nearly a decade.

You'd think gil has the ability to google or chatgpt to learn about these things that 99% of the general public already knows about

First time I've been placed in the 1%. Thanks man!

[gil]

A shit credit score.
No credit cards.
No loans unless the interest rate is extremely high.
And the bankruptcy pointed out on every credit check.....and nobody wants you.

And I believe these last for nearly a decade.

You'd think gil has the ability to google or chatgpt to learn about these things that 99% of the general public already knows about

Speaking of bankruptcy, you should read this article at: https://projects.propublica.org/graphic ... a-analysis
Shows that blacks have THREE times the rate of Chapter 13 bankrupty filings as their white counterparts. No wonder the Black community keeps voting Democratic year after year. More free stuff.

So bankruptcy gives you free stuff? That was my point, asking about bankruptcy, after people were so down on someone who would accept student loan payment cancellation.

[XpertDBA]

My point is that you should do everything in your power to NOT file bankruptcy and pay off your own loans and debts.

I think you already know that's my view and are just trying to be cute.

You Dems want to file bankruptcy and depend on the government to pay off your student loans. I call bullshit.

[gil]

My point is that you should do everything in your power to NOT file bankruptcy and pay off your own loans and debts.

I think you already know that's my view and are just trying to be cute.

You Dems want to file bankruptcy and depend on the government to pay off your student loans. I call bullshit.

I honestly hadn't thought much about this until reading the discussion, and it occurred to me that bankruptcy laws are part of our economic system. I'm someone who is debt free, never took out student loans, and has not declared bankruptcy - so I don't have a dog in any conceivable fight regarding the issues.

I really do want to know - do people support current bankruptcy laws, so that an individual or business can get a "fresh start" after avoiding paying some of his debt?

[gil]

By the way, some of you shared personal histories of how you got to where you are; thank you Walla Walla, dt, XPertDBA. Inspiring American success stories. (Apologies if I missed anyone.)

[XpertDBA]

I think most people support bankruptcy laws in cases where someone had exactly ZERO other options.

Unfortunately, that's not what happens in a majority of cases. It's mostly used as a crutch by people to hand their debts off to the rest of us to pay.

You know, the Asian population went through many of the same struggles, racism and oppression that Blacks did in the 40's and 50's, yet file hardly any bankruptcies, comparitively speaking. Gil, can you tell me why that's the case?

[bpj]

Pretty simple isn't it? Bankruptcies don't put the debt burden of the people filing onto the backs of the rest of the population as national debt, it screws over private companies and people that loaned money to other people who probably couldn't afford it to begin with.

Even bankruptcies don't allow the borrowers to wipe out student debt because nobody forced these losers to pursue their useless liberal arts degrees.

[gil]

Pretty simple isn't it? Bankruptcies don't put the debt burden of the people filing onto the backs of the rest of the population as national debt, it screws over private companies and people that loaned money to other people who probably couldn't afford it to begin with.

Even bankruptcies don't allow the borrowers to wipe out student debt because nobody forced these losers to pursue their useless liberal arts degrees.

Yes, that is a difference (public cost to forgiving student loans versus private cost to bankruptcy settlements). But the private cost of bankruptcy settlements (i.e., individuals or businesses not paying their debt) still comes back in the economy. If a business has bed debts, either the owners/shareholders take a hit, or they raise prices (meaning their customers take a hit). As an individual, do I care if my taxes go up or prices of the things I buy go up? Either way, I'm out money through no fault of my own.