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Topic : 10/09 Financial 911!

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Created on : Friday, October 03, 2008, 02:14:25 pm
Author : DrPhilBoard1
Has the current economic crisis left you frightened and confused? Do you know where your money is and if it is safe? With home foreclosures on the rise, stocks plummeting and job loss numbers growing, millions of Americans have questions about their money and the future of our country. Get the answers you need from Dr. Phil and his panel of experts. What do America’s money problems mean for you and your family? Are your retirement savings secure, or should you be doing something different? What about your credit card debt and your mortgage? Has the financial bailout left you worried about your personal finances? Get the advice you need to know before it’s too late! Plus, has the financial crisis affected you? Talk about it here.

Find out what happened on the show.
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pananny
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October 19, 2008, 12:35 pm PDT

I know the family featured

I have known the family featured on the show for 10+ years and I think alot of you got the wrong impression.  They started with NOTHING and worked hard for all that they have.  The reason they are in trouble is not because they racked up their credit cards or bought a house they coudn't afford.  When the husband lost his job he got no severance.  That is why they have gone through their savings and had to start using their credit cards.  The things they have enjoyed were things they could afford.  And the BMW you saw is at least 9 years old and long since paid for.  I feel so bad for the way they are being slammed on this board, because they are some of the kindest people I know.  They love their family and they know they have been blessed.  They are not receiving help from the government, the community, or anyone.  They were only asked to the show to show that the economy is affecting everyone.  Leave my friends alone!
 
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pananny
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October 20, 2008, 2:09 pm PDT

You have the wrong impression of my friends!

Quote From: trigreen

These people are so selfish they have no problem stealing from hardworking responsible people like you and me.   Now the government is trying to steal from us to prevent the karma that these selfish people deserve.   They did this to themselves and they need to live with the consequences of there action.  
I posted yesterday for the first time ever (Mine is the very last). The people on the show are friends of mine and they are not selfish.  They did not live beyond their means and have received help in this matter from NO ONE, certainly not the government.  They could afford all that they have because they are both hard workers (yes, being a stay at home mom IS a JOB) and they started at age 22 with nothing!  The only reason this happened to them was because the husband lost his job and received NO severance!  They did plan for the future.  They had no debt!  They had a solid savings.  The only reason they are in debt now is because they are paying over 1K per month to keep their health insurance, in addition to their mortgage, food, electric, etc.  They are not stealing from anyone except their own savings.  Just because they live in a big house and have nice things doesn't make them selfish.  If you knew them, you would realize how kind and down to earth they are.
 
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trigreen
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October 20, 2008, 2:58 pm PDT

If they had solid savings....

Quote From: pananny

I posted yesterday for the first time ever (Mine is the very last). The people on the show are friends of mine and they are not selfish.  They did not live beyond their means and have received help in this matter from NO ONE, certainly not the government.  They could afford all that they have because they are both hard workers (yes, being a stay at home mom IS a JOB) and they started at age 22 with nothing!  The only reason this happened to them was because the husband lost his job and received NO severance!  They did plan for the future.  They had no debt!  They had a solid savings.  The only reason they are in debt now is because they are paying over 1K per month to keep their health insurance, in addition to their mortgage, food, electric, etc.  They are not stealing from anyone except their own savings.  Just because they live in a big house and have nice things doesn't make them selfish.  If you knew them, you would realize how kind and down to earth they are.
...then why are they on a show about financial crisis and now in debt?   And if they are in debt, then obviously they aren't living in there means they are living above there means!  

And my right not to pay for them was taken away when the government decided we needed to bailout all the rich suburbanites who bought luxury cars and houses that they can't afford and where the female refuses to work even when the husband doesn't have a job.  And by doing this and overspending they caused prices to go up so that people like myself who are hard workers who earned modest wages and choose to live within our means have had to live with just the basics.  

Congradulations to them they started with nothing and now they have nothing again due to THERE living above there means and not saving properly.   And perhaps if you think what they did was good financial planning and fine perhaps you need to be on the Dr. Phil show too and get a wake up call yourself! 
 
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pananny
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October 20, 2008, 6:01 pm PDT

So sad!

Quote From: trigreen

...then why are they on a show about financial crisis and now in debt?   And if they are in debt, then obviously they aren't living in there means they are living above there means!  

And my right not to pay for them was taken away when the government decided we needed to bailout all the rich suburbanites who bought luxury cars and houses that they can't afford and where the female refuses to work even when the husband doesn't have a job.  And by doing this and overspending they caused prices to go up so that people like myself who are hard workers who earned modest wages and choose to live within our means have had to live with just the basics.  

Congradulations to them they started with nothing and now they have nothing again due to THERE living above there means and not saving properly.   And perhaps if you think what they did was good financial planning and fine perhaps you need to be on the Dr. Phil show too and get a wake up call yourself! 
I will pray for you. Do you honestly think Dr Phil had them on the show because they are "rich suburbanites" looking to milk the system?  Are you kidding me?  I am sorry that you feel like you are having "to pay for the rich suburbanites"......and maybe you are, but this is NOT the case with my friends!  And if you read the post clearly, the "female", which translates to "mother" clearly did not refuse to work but now has a job!  NO ONE has had to pay a DIME for this family!  No agency, no taxpayer, no government bailout...........this family has paid for themselves through their own savings and 401K!!!!  EVERYTHING they own is thru their own hard work, and they only got into debt when the husband got laid off and there was zero income and insurance to pay.  So you haters, cut it out!!!  You are blaming the wrong people.  I will defend my friends to the end!
 
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jewelsf
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October 21, 2008, 3:14 am PDT

I cannot comment on this couple..................

Quote From: pananny

I posted yesterday for the first time ever (Mine is the very last). The people on the show are friends of mine and they are not selfish.  They did not live beyond their means and have received help in this matter from NO ONE, certainly not the government.  They could afford all that they have because they are both hard workers (yes, being a stay at home mom IS a JOB) and they started at age 22 with nothing!  The only reason this happened to them was because the husband lost his job and received NO severance!  They did plan for the future.  They had no debt!  They had a solid savings.  The only reason they are in debt now is because they are paying over 1K per month to keep their health insurance, in addition to their mortgage, food, electric, etc.  They are not stealing from anyone except their own savings.  Just because they live in a big house and have nice things doesn't make them selfish.  If you knew them, you would realize how kind and down to earth they are.

  Since I didn't see this show I cannot comment on this couple. But I do have something to say that I understand very well. You mentioned that your friends have to spend 1K per month for their health insurance? We do too! Luckily it's only for 7 or 8 months out of the year but we have to do it every single year that goes by. It's very difficult to fit that type of payment in, ours is actually $800. per month, because we have no children. My husband works for two separate employers (1 in winter, another in summer) and we have to use his Cobra benefits during the summer months because that employer does not provide insurance.

  I am no longer able to work because I'm now disabled. I do get SSD and I have Medicare. But if anyone knows how well Medicare pays, you would prefer private insurance. Plus, we make too much money for me to qualify for the prescription benefit plan. I have one prescription alone that cost's $2,400.. Actually I get the generic for a measly $1,600. per month.

  As I said, I cannot make any other comments here but, we have also been judged as "over spenders" by others when that is incredibly untrue. We don't own any high priced vehicles, we do have a new pick up, but our other car is 10 years old. Yes, we live in a nice neighborhood, but since I'm alone for up to 7 months out of the year it's the only way that I feel safe. I have also been a victim of an attempted kidnapping and assault with a deadly weapon. So we have our reasons.

  Anyway, I just wanted to remark on how difficult it is to have to put out that type of money every month on top of the "normal" cost of living. And having insurance is NOT a luxury. It's hard, very, very, hard!
 
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trigreen
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October 21, 2008, 8:11 pm PDT

I don't feel like I am paying for them

Quote From: pananny

I will pray for you. Do you honestly think Dr Phil had them on the show because they are "rich suburbanites" looking to milk the system?  Are you kidding me?  I am sorry that you feel like you are having "to pay for the rich suburbanites"......and maybe you are, but this is NOT the case with my friends!  And if you read the post clearly, the "female", which translates to "mother" clearly did not refuse to work but now has a job!  NO ONE has had to pay a DIME for this family!  No agency, no taxpayer, no government bailout...........this family has paid for themselves through their own savings and 401K!!!!  EVERYTHING they own is thru their own hard work, and they only got into debt when the husband got laid off and there was zero income and insurance to pay.  So you haters, cut it out!!!  You are blaming the wrong people.  I will defend my friends to the end!
I know I am paying for them.  Of course a lot of them aren't even rich, they are just prentendors who can't face reality and are trying to keep up with the Jones by using non-existent money to pay for things they can't afford.   People who have pumped debt into the system have caused prices to rise for people like me who are responsible and pay in cash.   People who have bought houses they can't afford have made it so people like me are stuck as renters.  Apparently you have no appreciation for hardworking lower middle class people who serve you and live with in our means and through the bailout are now being taxed to death to pay for your oversized houses, SUVs, and other luxuries.  

Quite honestly I am not suprised you would make some irrelevant comment like you will pray for me.  Is that your way of admitting you have no argument against mine?  As I stated before if they are in debt they are living above there means and they are not using just savings and 401K because using neither of these will cause you to go into debt.  If you think using savings and 401K alone causes you to do into debt I would recommend a basic finance course.  

People like myself who have lived within our means are the victims.   We never had any of these luxuries and now what little we have is being stolen from us to pay for irresposible over spenders and irresponsible corrporations. 
 
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vasharps
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October 28, 2008, 11:26 pm PDT

Sorry about your troubles, but ...

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My husband and I have contacted our credit card companies to get help. Most of the time you get someone who sympathizes but other times you flat out tells you that you are trying to rack up debt without any intention of paying. It is so frustrating. I had one of my cards do that to me and I ended up crying afterwards.
I am sorry for your troubles.  I do have to ask, however, how many credit cards are we talking about?  My husband and I are not the be all and end all of financial knowledge, but we have never owed more on our one and only credit card than we could pay off monthly.  Hence, no tears.  We have three kids and one income and when necessary, we do without many things. With carefull planning and a lot of hard work, we have a great life.  We put away money for retirement and college and still do not owe anyone anything (except a regular 30 year mortgage on our home). Did you really believe that you could not pay off your credit card bills and the "people" would just let it go??  Who do you think ends up picking up the tab when people charge things, and don't pay for it???  Or, get debt reduction???  The  rest of us consumers pick up the price the next time we buy something.  My suggestion to you ...  if you can't pay cash for it, you can't afford it. 
 
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trigreen
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November 6, 2008, 5:01 pm PST

Amen

Quote From: vasharps

I am sorry for your troubles.  I do have to ask, however, how many credit cards are we talking about?  My husband and I are not the be all and end all of financial knowledge, but we have never owed more on our one and only credit card than we could pay off monthly.  Hence, no tears.  We have three kids and one income and when necessary, we do without many things. With carefull planning and a lot of hard work, we have a great life.  We put away money for retirement and college and still do not owe anyone anything (except a regular 30 year mortgage on our home). Did you really believe that you could not pay off your credit card bills and the "people" would just let it go??  Who do you think ends up picking up the tab when people charge things, and don't pay for it???  Or, get debt reduction???  The  rest of us consumers pick up the price the next time we buy something.  My suggestion to you ...  if you can't pay cash for it, you can't afford it. 
If these people had there way they would get the government to take your retirement and college funds and recklessly spent them on all there wasteful luxuries.   They don't care that you have worked and saved all your life.  They would just assume take your retirement you have responsibly saved and spend it on there luxury homes, gas guzzlers, and boats.   They made there own messes, now it is time for the government let them clean them up, instead of stealing from people like you and me.  
 
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cusyboop
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November 18, 2008, 12:11 pm PST

10/09 Financial 911!

Quote From: trigreen

...if your balance is so high that you can't even afford to make a minimum payment.  

I don't use credit cards because these companies are corrupt selfish bailout bill (and other equally bad) legislation funding legal crime institutions.   

As I have said before Credit Unions and Local Banks, don't but your money in the hands of the economic criminals. 

Even responsible customers can become victims of unforeseen circumstances.
 
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cusyboop
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November 18, 2008, 12:34 pm PST

10/09 Financial 911!

Quote From: trigreen

...if your balance is so high that you can't even afford to make a minimum payment.  

I don't use credit cards because these companies are corrupt selfish bailout bill (and other equally bad) legislation funding legal crime institutions.   

As I have said before Credit Unions and Local Banks, don't but your money in the hands of the economic criminals. 
Trigreen,  I have been reading your other postings & you seem quite judgemental. If you would have read my posting thoroughly you would have realized that our credit card debt has increased due to my unforeseen layoff. My husband & I have been working hard all of our lives & have never had trouble paying our bills. Even though we both have advanced degrees, our job security is dictated by government funds. I  teach in public schools and my husband works for the Department of Social Services. We chose careers that help others but do not pay well. We made a conscious choice to live a modest life so that we could have fulfilling careers, make our children proud, and give something back to society . We have never lived "beyond our means."  Even the most responsible people would be affected if their income was suddenly cut in half. My husband & I are now working 2 jobs each and our income is still nearly half what it was less than 6 months ago. We have never asked for a handout just some compassion and understanding.
 
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