The Case for Walking Away

Good morning everyone, Yes we're in a extremely bad place World Wide. The problem I have is that no one has question the individuals we elected to run our country and make decisions that will be good for the people around the World. I believe that if our government is serious about Bailout our country and getting our economy back on track they should send every America with a social security number $300,000.00 from the 750billion this would leave them with 500billion. Now we know that not everyone is going to do the right thing, but at the end of the day spending is spending and it cirulate back into the system. And the economy is stimulated and most families will be debt free and back on track. This common sense process will bailout everyone giving everyone the chase to start fresh. Bailing out special interest groups have proven that they will not and are not helping the people that really need the assistants. They have proven it's all about the BIG CEO's Presidents, etc.

Marcy Kaptur - Congresswoman from Toldeo, OH. sums it up best:

http://www.youtube.com/watch?v=S27yitK32ds

Good morning everyone, Yes we're in a extremely bad place World Wide. The problem I have is that no one has question the individuals we elected to run our country and make decisions that will be good for the people around the World. I believe that if our government is serious about Bailout our country and getting our economy back on track they should send every America with a social security number $300,000.00 from the 750billion this would leave them with 500billion. Now we know that not everyone is going to do the right thing, but at the end of the day spending is spending and it cirulate back into the system. And the economy is stimulated and most families will be debt free and back on track. This common sense process will bailout everyone giving everyone the chase to start fresh. Bailing out special interest groups have proven that they will not and are not helping the people that really need the assistants. They have proven it's all about the BIG CEO's Presidents, etc.

IKIA - Sorry to hear about your situation. Hope things work out for you and your son.

I am doing the same thing. Not much, but my RV has what I need to survive. Why the hell should I sell it and give it to these Criminals? At best, it'll be a roof over our heads. My wife and I have 2 children yet at home. A 22ft RV would be rather cozy, don't ya think.....*(

I SAY STICK IT TO THEM! They will probably end up getting our last DIME and leaving us to fend for ourselves, in the streets! They'll still have their fancy cars, Penthouse apts and eating steak, while we scronge what ever we can.

Too damn bad, people didn't listen to Ross Perot, this country would be in much better shape!

This story reminds me of a song! You got to know when to fold them,know when to hold them. Know when to walk away,know when to run. You never count your money, when your sitting at the table, There be time enough to count it, when the dealing done. Good luck america, were gonna need it as this is just the tip of the iceburg, No one safe in a downward spiral inflation and recession. Wait will we pump trillions into a failing economy,watch our dollar reach new lows worldwide. In the near future,I think we'll be seeing new paper money printed, which could replace all money at .50 on the dollar. It does not matter if your money is in the bank,under the mattress, everyone and every business will take a hit. Were in the big depression of 2009. We will not recover and will never be a economic world leader as asian markets as well as china emerges as the new financial leaders and investments will pour in. America is now for sale and it may always be called America, but the America we will come to know, will be owned by other countries.

This is the dumdest article ever ....... this is the reason this country is broke. Don't pay your bills, what a great lesson for our kids, lets racks up thousands and thousands of dollars in bills and then don't pay them back ?? I understand about people getting laid off but this is crazy. How about buy a house and car you can afford ?? Sure it is not the nicest vehicle on the road but hey it runs and it gets you back and forth to WORK !!! Yeah it might not be the best job ... go overseas and see what those people do for a buck - working at McDonalds will seem pretty easy. I have been in the Army for 15 years and this is driving me nuts .... when I joined in 1993 I earned $ 1000 dollars a month to support my wife and son .... nobody helped me with my rent or bills ... guess what I worked hard got promoted and look and I still don't drive a Lexus or own a multi million dollr home but. I do own a house I can afford, I pay my card cards and car payment on time and both my kids are enrolled in school .... crazy how simple life can be ???

IN RESPONSE TO JRUBLE, PLEASE READ THIS ONE... NOT MY OTHER POST. My youngest son is currently in college and we're both having difficulty earning money to buy food let alone pay bills. Jruble, obviously is still employed and has an income. I live in a small house and drive a very old car (1978). And, you're wrong about this article being reckless. If I had filed bankruptcy last year, I'd have several thousands dollars to move and/or find a new home. But because I didn't, I now having nothing left in savings from trying to keep up with late fees and huge interest increases. If the credit card companies had assessed excessive fees, I would have been in great shape and most likely, would still have some money. For the last seven months, my son and I have been living on bread and eggs. My life has never been easy, especially raising and supporting four children by myself for over 18 years. I've always worked full time since I was 13 and no matter what hit me over the years, with regard to financial surprises, I was able to overcome them; however, now... I feel completely defeated and I'm not sure I'll be able to overcome this nightmare. I've always felt thankful that I didn't have to live through the depression, like my father did... but now, I think I am living through something very similar. For months, I've been trying to sell my old beat up RV, to help pay some of my bills, but I've decided I better keep it, because most likely my son and I will be living in it in the near future. What a drag that'll be! Yes... "I am" responsible for my debt, but if the credit companies hadn't started to penalize me for every little thing, I most likely wouldn't be where I am today.... living on practically nothing and often, eating nothing. Living within a budget is fine and dandy, when there's an income. Get real jruble, a lot of us no longer have an income. The employment section in the newspaper, went from several pages to half of one page in a matter of two months. That's because there are "NO" jobs.

My youngest son is currently in college and we're both having difficulty earning money to buy food let alone pay bills. We've been living on eggs and bread for the last 7 months. My life has never been easy, especially raising and supporting four children by myself for over 15 years. I've always worked full time since I was 13, even during the school year and no matter what hit me over the years, with regard to financial surprises, I was able to overcome them; however, now... I feel completely defeated and I'm not sure I'll be able to overcome this nightmare. I've always felt thankful that I didn't have to live through the depression, like my father did... but now, I think I am living through something very similar. For months, to help pay some bills, I've been trying to sell a old beat up RV that I have, but I've decided that I better keep it, because most likely my son and I will be living in it in the near future. What a drag that'll be! I should have filed bankruptcy a long time ago, but my pride wouldn't let me. Now, that my credit has gone from great to poor, I've lost my pride, my hope and everything that goes into be an upstanding person as well as a strong and independant, mother. Until recently, my children haven't ever seen me cry because I never had the time or energy. Now, I wake up and go to sleep crying. Darn it!

My youngest son is currently in college and we're both having difficulty earning money to buy food let alone pay bills. We've been living on eggs and bread for the last 7 months. My life has never been easy, especially raising and supporting four children by myself for over 15 years. I've always worked full time since I was 13, even during the school year and no matter what hit me over the years, with regard to financial surprises, I was able to overcome them; however, now... I feel completely defeated and I'm not sure I'll be able to overcome this nightmare. I've always felt thankful that I didn't have to live through the depression, like my father did... but now, I think I am living through something very similar. For months, to help pay some bills, I've been trying to sell a old beat up RV that I have, but I've decided that I better keep it, because most likely my son and I will be living in it in the near future. What a drag that'll be! I should have filed bankruptcy a long time ago, but my pride wouldn't let me. Now, that my credit has gone from great to poor, I've lost my pride, my hope and everything that goes into be an upstanding person as well as a strong and independant, mother. Until recently, my children haven't ever seen me cry because I never had the time or energy. Now, I wake up and go to sleep crying. Darn it!

What kind of advice is this? We all reap what we sew. The problem is Americans in general can't live within their means. Learn how to balance a budget. So what, you can't live in a huge house. Look around, most people can't afford to be in the homes they have. Peditory lenders exploited people's greed. Yea, I have struggled, worked 3 jobs, served in the armed forces and the reserves. I have a handicapped son whose medical needs keep me strapped etc...I know what it is like to be poor, not quailify for a loan, drive a piece of crap car. Everybody says times are tough? I have never been doing better financially. I have taken responsibility for my bills. Quit your damn crying and be responsible. Greed is what started this mess along with having to put up with Government that farms our jobs out overseas while giving companies tax abatements only to have them fold up in a couple of years. Who loses out? Our schools, cities etc...relying on taxes they will not receive. Local people not having work because these companies hire cheap labor. Wake up America! Technology has made it a smaller world, a global market. Our lifestyle as we know it is forever going to change. Take responsibility for your own situation and pay your debts. Granted, some will have to file bankruptcy but to give advice like this is reckless and one of the reasons we are in such a terrible mess!

I am very grateful for the information in this article. I too have worked my whole life 2 and 3 jobs and have always paid my bills but now due to situations beyond my control I can no longer do that. After reading some of the other posts I am shocked at the judgemental, holier than thou attitudes. I do not drive a Hummer or BMW, nor do I have a monstrous home. I do have 3 children that I have supported on my own since they were babies and at one time not too long ago had a savings. All I am saying is that I truly hope what happened to me does not happen to you. Workinghardqd, when you put yourself on such a high pedestal the fall can be quite devastating.

I am very grateful for the information in this article. I too have worked my whole life 2 and 3 jobs and have always paid my bills but now due to situations beyond my control I can no longer do that. After reading some of the other posts I am shocked at the judgemental, holier than thou attitudes. I do not drive a Hummer or BMW, nor do I have a monstrous home. I do have 3 children that I have supported on my own since they were babies and at one time not too long ago had a savings. All I am saying is that I truly hope what happened to me does not happen to you. When you put yourself on such a high pedestal the fall can be quite devastating.

Many people here would do well to know that the Federal Reserve (the folks that print our money and that of our government) is a PRIVATE bank owned by private european bankers who by the way own all of the mainstream media. The biggest scam in history. Now tell me who really runs this place!! Do the research!! It is not federal and there are no reserves. The money is backed by nothing!!! It's just paper. Please wake up and get mad!! In light of that credit cards no longer concern me. PLEASE do the research.

workinghardqd needs to get off that high horse and look around. If your telling me you bought your home in the past 5 years and worked hard to pay off that mortgage... I wouldnt believe you. More than likeley you werent the only one that was paying the mortgage.
Who says that it drives up the cost for bill paying people? The Credit companies? Oh the banks? Yeah u keep believing them like you want to believe the myth that you are very well off (rich) and that your retirment is secure. Im sorry to sound so venemous towards you. However you seem insensitive and condescending.

home paid for..please who helped you buy that? or did you buy it in the 60's

If you stop paying your credit cards for a couple of months you might be able to save enough to pay the attorney fees.

If you stop making payments on your credit cards you might be able to save that money for a few months until you have enough to pay the attorney fees. I

OMG, are you crazy?! Encouraging people to file for bankruptcy? I thought bankruptcy was supposed to be for catastrophies: medical bills, acts of nature like floods, not "I got in over my head." and I failed to save money because I had to have a monstrous house, BmW of Hummer, etc. Give me a break! I work 2 jobs as a nurse, have an 1100 square foot home that is paid for, have an IRA, money in savings and 2 kids in college, and I PAY my bills. I have always paid my bills. It should not be so easy to file for bankruptcy. It drives costs up for bill-paying people like me.