In Illinois and southwest Indiana, some judges jail debtors for missing court-ordered debt payments. In extreme cases, people stay in jail until they raise a minimum payment. In January, a judge sentenced a Kenney, Ill., man "to indefinite incarceration" until he came up with $300 toward a lumber yard debt. http://www.startribune.com/investig...c3E7_V_nDaycUiD3aPc:_Yyc:aULPQL7PQLanchO7DiUr
http://www.startribune.com/investig...c3E7_V_nDaycUiD3aPc:_Yyc:aULPQL7PQLanchO7DiUr The link without a smiley in the middle of it.
Free rent and 3 squares a day, all paid for by taxpayers over a measly $300. Yet Mozillo still walks free...
I wonder if there might be a little more to the story. I'm no lawyer but I think I've heard that In certain specific cases not paying a debt is essentially committing fraud.
It seems people are going to jail for not showing up in court or not complying with court orders. That is not new.
Default early and often!! Do it now before they become more draconian!! Oh, and use your credit to buy hard assetts too, the Federal Guv is going to inflate their way out of the hole, might as well go along for the ride!!
Didnt you hear? Credit cards are now adjustable rates. For instance...if your credit card was 20% before, now its Prime + 16.75%. You should've got a letter from your credit cards a few months ago letting you know this.
When they send you that letter you just call and demand a good fixed rate. I got a letter raising my rate to 19%. After a 15-minute phone call my new rate is 7.75%. You don't have to accept the new high rate. Just tell them to give you a better rate or close your account and find a new one.