Stupid debt riddled neighbors...

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The Pol

The Pol

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So, my neighbors, with bad grass...

They will give you the shirt off thier back, but I really want to slap them.

After planning to have a child (12 months), getting pregnant, doing the 9 month thing... decided that $200/mo for health insurance was "too pricey". So, they went to the doc, had a c-section birth... no insurance, no money...

Apparently Medicaid goes retro 3 months or something, I dont know for sure... never been there, but anyhow...

The dude makes $45k a year (not bad in Indiana) and they are complaining that they cannot get Medicaid and cannot pay this medical bill ($20+K?)

Owned an almost new truck, which they are upside down on... and a Toyota 4 door. They said that they could not move the seats in the car back far enough with the child seat in the back... so... logically...

Two days ago, they go buy a new Minivan... a $35,000 minivan... to hold one car seat. Now... tack on the $15k that they owed on the upside down truck that they traded in (oye) instead of trying to sell outright... now you have a $50k van... for one child seat.

But you see, they are pissed that they cannot get Medicaid, because $200/mo to insure thier families health, is too pricey.
 
Ha.

I have been riding with 2 car seats in a regular cab pickup for well over a year now.

Wife says the truck doesn't "fit our needs" and wants me to trade in for a Suburban. Fortunately, we can;t afford one. But, sometimes logic is "fuzzy".
 
Or something called natural birth. Home birth midwife - $1500 ..... tr getting a room in a hospital for that price with no insurace .... let alone birthing a child in a hospital.
 
Personally, I am thrilled the wife got a c-section. Keeps "things" stock if ya know what I mean.

Course I also have Insurance so......
 
Some people never learn. For some people it takes a long time to learn, like myself.

You can be angry with them, but you aren't going to be able to help them. It's going to take a few years, when they are up to their ears in debt, and can't pay the bills before they hopefully snap out of it.

In my situation at least (an I'm not proud of it), I can pay the bills, have insurance, etc... But unless I advance, I'm going to be looking for a new job in 2.5 years and I have some debt that needs to be addressed now.

What I am saying is that you can be the best neighbor in the world, you can try to offer advice (because from what I've seen, when it comes to finances you have it down) and hope that they take something from you, but in the end it's probably going to take a good "financial f!!king" to set them straight.
 
It's silly to me that people will spend so much money on something that goes down in value so quickly.
 
The guy who used to run the pizza place was like that, ditto his wife. She used to check the company account a couple times a day to see if there was enough money to go shopping. He was trying to buy a hovercraft AND a RV! When they folded, they were 8 months behind on the store's mortgage.
 
the_bird said:
Who the **** approved them for a $35k car loan? :confused:
Click to expand...

I still get applications for an adjustable rate loan boasting about the low initial interest rate with the finer print mentioning in so many years your rate may/will change. Isn't that the same sales ploy that got everyone in so much trouble?
 
OMJ said:
you should have told them about this thing called a used mini van. What morons
Click to expand...

Well, 2 years ago when we all moved into this new 'hood we were all looking for lawnmowers...

I already had a $180 self propelled...

This guy, same guy... needed one, wanted a riding one. Told him about CL and the deals there on slightly used mowers. Told him Id help him look.

I come back from a week on the road... he has a $4k mower in the garage.

I asked... "why did you do that, man I could have saved you thousands on CL!"

The response "yeah, but we would have to pay cash, and we cant, we needed to put it on the credit card... "

So, they went and put a $4k mower on the credit card... because they cannot afford $800 cash.

But... how come they cant get govt. benefits? INJUSTICE
 
jgln said:
I still get applications for an adjustable rate loan boasting about the low initial interest rate with the finer print mentioning in so many years your rate may/will change. Isn't that the same sales ploy that got everyone in so much trouble?
Click to expand...

The adjustable rate mortgage I got several years ago has been the best loan I ever got. Started at 5.5% dropped over the years to 3.5% and is now resting at 4.5%.

ARMs aren't bad if you know what "kind" of ARM you are getting into.
 
Wow... I fit my family in this
11103297027_256228761_IM1_MAIN_565x421_A_562x421.jpg
...

I am surprised they got a loan for that considering they were already upside down on a car loan.
 
Wow Pol,

It is amazing how people think it is "right" to carry such a debt load these days. Especially, in a downturn.

Here are some interesting states from http://www.progressiverelief.com/consumer-debt-statistics.html

Consumer DEBT STATISTICS*

• There are 1.3 billion payment cards - including credit cards, debit cards and store cards - in circulation in the United States. The average American home has 13 payment cards.
• Americans make over 1.5 trillion dollars worth of credit card purchases annually.
• The typical credit card purchase is 112% higher than if using cash.
• Over 40% of US families spend more than they earn.
• Americans carry, on average, $8400 in credit card debt. If one were to make a 2% payment every month at an annual APR of 15%, it would take about 30 years to pay off and include about $13,000 in interest.
• The average U.S household pays $950 in interest each year.
• About 18% of all U.S. personal consumption expenditures (PCE) are made on bank credit cards. If retail cards and debit cards are included, the figure rises to 24%.
• 96% of all Americans be financially dependent on the government, family, or charity at retirement.
• Almost 1 in every 100 households in the United States will claim bankruptcy.
• According to the National Association of Realtors, the average homeowner stays in his home for 7.1 years. With an 8% mortgage, he will sell his home still owing over 90% on his mortgage. If he was to continue this trend, he would never pay off a mortgage in his lifetime. Only 2% of homes in America are paid for.
• On average, Americans can expect to receive only 37% of the amount they will need to live comfortably from their retirement plan.
• Nearly half of all Americans have less than $10,000 saved for their retirement. 39% of Americans are anxious about their ability to achieve their desired retirement lifestyle.
Click to expand...

My wife and I are on a fast track to pay off all debt including the house ASAP. We want to avoid all of the above stats that we can.

You can only be upside down on a car loan for so long. Then *BAM*! Life has a tendency to wake people up when they are behind.
 
We will have our house paid off in 6 years at the current rate.

Personally, I know I MAY (depending pn markets) be able to get a better overall return by investing those $$ instead of paying off the mortgage, BUT, I dont like debt, I dont like being owned.

We make almost 3 paymenst per month in this box... after that, as long as I can keep the lights on and pay my property tax, my family is secure.

Some things you cannot avoid, then there is gross fiscal negligence. These people make it VERY hard for me to listen to people say they need assistance and have any compassion... because I automatically think of my neighbors
 
The Pol said:
Well, 2 years ago when we all moved into this new 'hood we were all looking for lawnmowers...

I already had a $180 self propelled...

This guy, same guy... needed one, wanted a riding one. Told him about CL and the deals there on slightly used mowers. Told him Id help him look.

I come back from a week on the road... he has a $4k mower in the garage.

I asked... "why did you do that, man I could have saved you thousands on CL!"

The response "yeah, but we would have to pay cash, and we cant, we needed to put it on the credit card... "

So, they went and put a $4k mower on the credit card... because they cannot afford $800 cash.

But... how come they cant get govt. benefits? INJUSTICE
Click to expand...

You also have to remember that over 70% of the American economy is based on spending NOT saving.

I heard a story on NPR late last year that compared American's savings rate to China's. Up to 2008 Americans were saving -0.4% (yep negative) then last year it jumped to 4%. While in China, their average savings rate is 25%. Why? Because people in China KNOW they can't ask their socialist country for help, but here it seems like that is all we do is ask for help.
 
The Pol said:
We will have our house paid off in 6 years at the current rate.

Personally, I know I MAY (depending pn markets) be able to get a better overall return by investing those $$ instead of paying off the mortgage, BUT, I dont like debt, I dont like being owned.

We make almost 3 paymenst per month in this box... after that, as long as I can keep the lights on and pay my property tax, my family is secure.
Click to expand...

Agreed. We are attacking the student loan the same way. While you MIGHT be able to invest better, you have to calculate in the risk that is involved. That is typically left out.

When your home is paid for and no other debts, you can take more risks with your investments because you have a home to go home to. Yay!
 
It's one thing to get yourself into a predicament and at least man up and admit you fKKKed up, totally different to do stupid crap and still blame someone else.

I'll admit I've done some stupid stuff with money, but I think your neighbors might have me beat. Looks like they have a keeping up with the Jones's mentality and can't be satisfied with used or lower cost options.
 
Boerderij_Kabouter said:
Wow... I fit my family in this ...

I am surprised they got a loan for that considering they were already upside down on a car loan.
Click to expand...

I always knew you were a cool guy. But I didn't know you were cool enough to have a MINI. :mug:

I am on my second now, unfortunately the first was totaled (not my fault, and insurance paid for another, so it was all good). I love my mini, it is a great car. And it was large enough to take all of my stuff to and from college.

Unfortunately Displaced Masshole is all too correct. I studied economics in College and the more you learn about the "average American" and spending habits, the more depressed you get. I find a whole lot of people to be absolutely insane in their spending habits, but I am probably on the extreme end of being frugal.

I know many people who are like your neighbors. Some friends, some family members, but all equally messed up when it comes to financials. Its a problem that truly plagues our nation and will be incredibly difficult to fix.
 
McKBrew said:
Looks like they have a keeping up with the Jones's mentality and can't be satisfied with used or lower cost options.
Click to expand...

Yup. Seen that happen pretty close to me.

The other one that I see a lot is lack of will power. That dude probably saw that nice $4k lawnmower, and couldn't not buy it. People forget will power is a muscle that you have to work every now and then to keep it strong for the big problems in life. Too many people do whatever they want all the time, and then when something happens and they need that will power to cut back, the crazy train keeps on rolling because they don't have the necessarily skills to do anything about it.
 
You know I'd like to know who is giving these people credit because it's only a matter of time 'till they will go bankrupt and the rest of us will land up paying for their $h1te indirectly.
Oh yeah, guess who is gonna pay this hospital bill; yep, the rest of us, responsible people with health insurance.
 
It's disgusting. And credit companies are still lending to people like that.

We're extremely careful and tight with money, and have a decent savings to cover 6 months of salary if either of us is out of work. Even so, last year I was laid off, lost health insurance just when we needed it. We're a bit in debt now to the hospital, but still have wiggle room. The way those people are living EVERY DAY is the way we live in a temporary financial crisis. What happens if they have to stretch a bit more for some emergency? I just don't get it.
 
lyacovett said:
Or something called natural birth. Home birth midwife - $1500 ..... tr getting a room in a hospital for that price with no insurace .... let alone birthing a child in a hospital.
Click to expand...

This is what we did, with our insurance we ended up paying a little less than $100. Can't do that in the hospital. Plus we were sent home the same day. We are doing this with child number 2.
 
The average person is totally clueless about how finances really work, and how much more they will end up paying on credit. That $50,000 van was 20 years worth of insurance, and that's not including the interest on the loan...
 
I'm about to replace my 98 taurus wagon. I've been looking around at used cars and am shocked what a 2-3 year old car costs. They are so expensive I'd be a fool to buy one. I ran some numbers and when I factor in financing I only pay $1500 more for a new one and in some cases its less money to buy new. Please explain that to me.
 
in 4 years this guy will declare bankruptcy and we'll end up paying his bills

btw, we just had our 2nd. we pay $63 / month for medical. birth cost us around $2k out of pocket.

and Gila, for whatever reason, natural births leave "things" better than "stock". donno why. but it's awesome. once it heals, obviously......lol.....
 
jspence1 said:
I'm about to replace my 98 taurus wagon. I've been looking around at used cars and am shocked what a 2-3 year old car costs. They are so expensive I'd be a fool to buy one. I ran some numbers and when I factor in financing I only pay $1500 more for a new one and in some cases its less money to buy new. Please explain that to me.
Click to expand...

cash 4 clunkers has dried up the used car market driving up used


Pol people are stupid we had three kids and I was driving a gremlin and my wife was driving a AMC eagle station wagon(uncle was an AMC/Jeep dealer) . Our first new car was a 94 ford escort wagon I traded a Buick elecrtra wagon in and paid cash for the rest...
 
Your neighbor sounds like a friend of mine. He's stupid enough to borrow $100 from me just to pay me back $250 next month. Dumb A$$es!
 
I wonder how the neighbor would take to knowing his financial well being is slathered all over a public forum?

That and of course being called stupid?

Not that I agree with the shortcomings of "Stupid" as I guess we can nickname him.

I can surmise from this thread:

1. It is unacceptable to have poor money managing skills.
2. It is acceptable to call people stupid and drag their laundry out in a public forum.

What is the purpose of this thread other than to drag another person down when they seemingly are having a hard time?


I am no saint but come on. Would you take this thread print it out and hand it to "Stupid?" How would he react and would it make you proud to have him read it to his family in front your family?

Like I said I am far from perfect, but can't stand to see a man thrown under the bus, when he has no way to defend himself.
 
Agreed on not insulting the guy, at least not when he can't have the opportunity to defend himself.

I had an awakening experience not so long ago. A few years ago, I made the most money in one year I ever had up until that point. Not six figures, but plenty substantial. I was talking to a buddy about it. He makes around 30k, and is quite happy about it. He asked how much I made, so I told him. Then he asked how far in debt I am, so I told him the approximate amount. Then he asked how I'm still in debt. Kind of a rude awakening, because I didn't have a good answer.

So now, I'm in a different job, making more money. I have a beat up, rusting truck that I don't need, but its paid for. I drive it 75 miles round trip for work, which sucks on gas, but I pay cash for the gas. I sold my sleds, planning on selling the jetski in a couple months, and just trying to get rid of extra crap around the house. After reading a Dave Ramsey book, I realized I'm trying to make myself happy with a life of excess that I cannot afford to maintain. My plan is to get about half of my debt paid for this year, and at the same time, to save up another 5-6k to buy a used car so I don't have to spend so much on gas and insurance. Then the car will go to my oldest when he turns 16 in a few years. If I can sell my truck for at least 2k, that will shore up my savings nicely. With this job, that shouldn't be particularly difficult. And as mentioned by someone here, it just takes a little flexing of the willpower muscle.
 
It's one thing to make a generalization about a person's habits. It's not like the Pol came in and said.....

My Neighbor Dave Smith at 3000 Wilbury Lane, Columbus Ohio is a complete stupid moron.

He did mention his neighbor, and while it probably wouldn't be too hard to figure out who the Pol's neighbor is with a bit of quick googling, who in here would go that far?
 
CamelToeJoe said:
I wonder how the neighbor would take to knowing his financial well being is slathered all over a public forum?

That and of course being called stupid?

Not that I agree with the shortcomings of "Stupid" as I guess we can nickname him.

I can surmise from this thread:

1. It is unacceptable to have poor money managing skills.
2. It is acceptable to call people stupid and drag their laundry out in a public forum.

What is the purpose of this thread other than to drag another person down when they seemingly are having a hard time?


I am no saint but come on. Would you take this thread print it out and hand it to "Stupid?" How would he react and would it make you proud to have him read it to his family in front your family?

Like I said I am far from perfect, but can't stand to see a man thrown under the bus, when he has no way to defend himself.
Click to expand...

Maybe we can call him " financially challenged", "financially ignorant", "creditcoholic", "Indiana University grad.", or "WTF, you're going pay for my overspending in higher interest interates, medical bills, and everything else when I file for bancruptcy"'.

But we don't want to call him stupid.

AHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
Well, no ones grass is as green an The Pol's. I have seen it and even walked on it (when he wasn't looking). I **** you not - it was the color of a "forest green" crayon.

I think its a good subject for discussion here - he never identified his neighbor. "Debt Living" is a major problem with America and more it is talked about the better.
 
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