Tuesdays With Claymore
There’s only two things down the middle of the road…yellow stripes and carcasses.
Oh, so now it’s the companies’ fault. Got it.
Taking responsibility = heartless
Does that make him a double dick?
Old people holding on to their “wealth” is a problem.
Mean insurance companies made Obama a liar.
Category: Tuesdays with Claymore
I’m confused. Why are they using a video of Ronald Reagan to explain Social Security?
http://www.youtube.com/watch?v=ihUoRD4pYzI&feature=player_embedded
He was a Republican, for pete’s sake. Don’t they know that?
No wonder I get headaches from these people.
I am wondering where the idiot who claims there have been no cuts to defense has been the past year or two now…. Freaking DUmbasses.
That place is usually good for a laugh or two, I try not to let their idiocy get to me…. but damn they have some stupid barking moonbats over there.
I particularly enjoyed the story of the well educated parasite who claims that he accumulated $200,000 in ed debt since 1986! He also claims that he has paid down $40,000 (yeah, insert Brooklyn Bridge for sale sign here) but that he owes more than ever. Why? Because of those mean penalties, in part. What a ma-roon. He calls himself ‘Stevie’ and must be pushing 50. He writes poorly but he must be a hard worker because no one could possibly be that stupid without great effort.
$200 grand in education funding debt? What kind of education was he getting?
I’d like to know if he was actually studying or just using that loan money to party. That sounds like enough money to send someone through medical school.
@3 He must have a moron for an attorney as well, student loans are not exempt from bankruptcy. They are difficult to discharge but not impossible…in his story he lies about this and says student loans are not dis-chargeable in bankruptcy court. He’s wrong and his legal advice is incorrect. There were some changes made in 1998 and 2005 (2007?) to the law protecting lenders from default, but that only makes it more important for someone with a crushing debt to consider a better attorney.
If bankruptcy court is a viable option for large corporations that have been poorly managed for decades without any reinvestment, and for people who just can’t control their spending, people like Steve who lose their jobs and are unable to get work under Obama’s alleged recovery bankruptcy is an appropriate course of action to discharge that debt. If he is in fact in his 50s it’s easier to show that repaying the debt at this point becomes a hardship for the entire repayment period especially if that would extend into his retirement….
I’m not a huge fan of bankruptcy court, but if Macy’s department store founder can use it 7 times to discharge debt I think a guy like Steve can use it once….that’s the part of lending and investing nobody likes to think about….the money just being lost, but it’s all part of the financial game when you play with the big boys…kind of like your 401(k) money disappearing with the stock market drop a few years ago…anything that is an investment for someone is also a risk for someone…repurchasing loans is a serious risk…
@4 It seems like half that debt is penalties due to default, plus it appears Stevie is a 53 year old woman…but Stevie used the educational loans to become a lawyer…not a good one apparently….
VOV: careful there. Since 2005, discharging student loans via bankruptcy has required that the applicant show that repaying the loan would cause “undue hardship” for themselves and their family. That requires meeting the following three tests:
1. Repay the loan means they would not be able to maintain a minimal standard of living.
2. This will continue for a significant portion of the loan repayment period.
3. They made good-faith efforts to repay the loan before filing bankruptcy (usually this means they have been in repayment for a minimum of five years).
http://studentaid.ed.gov/repay-loans/forgiveness-cancellation#discharge-in
Not saying that can’t be done, but it’s not an easy 3-part test to satisfy. Not positive, but I believe physical disability is generally the way people qualify.