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03-10-2010, 12:51 AM #1Licence to Kill
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Social Security Checks and Defaulted Loans Article
Interesting article...sounds like seniors with past debt better get ready to tighten their belts...
defaulted-loans-may-haunt-seniors: Personal Finance News from Yahoo! FinanceKace - married to Dh 12 years
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Full-time homemaker, part-time worker, college student. Always pinchin' pennies!
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03-10-2010, 05:50 AM #2Moderator
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I was reading that article yesterday. Interesting.
Just shows to me, that the government is looking for money any source they can get it from.--------My signature--------
The economy is now uncharted waters... grab a oar and start rowing. ~~
Put the frog in pot, turn up the heat real slow, and the frog doesn't hop out. And by the time he realizes, he should , it's too late... think about it.
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03-10-2010, 07:44 AM #3Registered User
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I received an email from my boss about this yesterday we have a client who is having money taken out of his check , I have one who is 79 and paying 94.00 a month child support.
It's going to hurt my clients who are barley getting by now.DH's chemo has ended and his Radiation treatments end Mon May 14 yeah...!!
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(Life is fragile handle with prayer)
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03-10-2010, 09:28 AM #4Rude and Vile Master
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Considering that in this case, they lent the money out in the first place, I have no problem with people being held responsible for their debt to the Government. If they don't pay for it, we do.
Originally Posted by ladytoysdream
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
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03-10-2010, 02:34 PM #5Registered User
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It's not just aimed at seniors. The new law allows the Treasury to collect debts from anyone of any age, by garnishing disability or SS.
Hey, if you took the loan, you should pay it back.Use it up, Wear it out,
Make it do, Or do without. ~unknown
You can't always get what you want
But if you try sometimes you just might find
You get what you need ~Rolling Stones
A clean house is a sign of a wasted life. ~unknown
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03-10-2010, 11:18 PM #6Registered User
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can credit cards take from SSI checks now?
thanks
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03-11-2010, 12:21 AM #7Registered User
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They are going to get their money. One day other countries we owe money too are going to go after us without mercy.
Step 1 $207/1500
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Step 7 Build wealth & give.
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03-11-2010, 04:36 AM #8Rude and Vile Master
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No - SSI cannot be garnished except by the Government. Originally Posted by sahm2boys
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
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03-11-2010, 06:02 AM #9Moderator
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I guess I should have written a longer reply. Originally Posted by ladytoysdream
If someone borrows money, then yes, they should repay it.
My thought is...that now, that the government on all levels is having big budget problems and cutting back, that they are going to do what they have to do, to get ANY money owed them, even if it's a real old debt. Seems to me, that this should have been the proper procedure all along. They are finally waking up.--------My signature--------
The economy is now uncharted waters... grab a oar and start rowing. ~~
Put the frog in pot, turn up the heat real slow, and the frog doesn't hop out. And by the time he realizes, he should , it's too late... think about it.
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