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by Michigan Municipal League (MML)

Question by : Would less Americans have increasing personal debt if Re-Unionization led to Real Wage increases?
Why must the American people give into blackmail by the corporations?
We’re the wealthiest nation on Earth, with tremendous resources, and a diverse, educated, skilled population.

If the corporations threaten to just outsource all our jobs rather than pay people living wages (which should ALL be indexed to inflationary increases), we should just say, ”Fine. Go do that. But we’ll tax you so much for moving jobs overseas that you simply won’t be able to afford operating in America anymore.”

When are Americans going to grow a pair and stand up for a better quality of life and economic progress?
We should reward jobs that are created here and have increasing Real Wages, and penalize others, to create an economic incentive that benefits American people.

Best answer:

Answer by Super-star Queen
This is why all our companies keep moving to China.

What do you think? Answer below!

by Michigan Municipal League (MML)

Question by Andrew H: If I have a balance on a card of ,000, 9.99% APR, would it look better to get a debt consolidation loan?
I want my credit to still stay above average, but I cant afford to pay $ 1,000 monthly payments to get rid of the balance fast, should I get a personal debt consolidation loan for 36 months instead?

Best answer:

Answer by Lauren F
If you want to get rid of this fast, then taking a 36 month loan doesn’t make sense, even if you could get a lower interest rate. That long length of time will cost you a lot in interest.

I would look for a 0% balance transfer card (see the website www.fivecentnickel.com for suggestions) and transfer it to 0% card, preferably for 12 months. Then, if you pay $ 700 a month for the 12 months, it will all be paid off and you will not owe any interest. Research this plan carefully though. It only works if you make the payment every month on time. If you miss even by one day, the cc company will jack your interest rate up to a horrible amount.

Give your answer to this question below!

by Michigan Municipal League (MML)

Question by Method To The Madness: Do you think there would be markedly less personal debt in the US if television advertisements did not exist?
In your opinion, do you believe that the number of American consumers that are in debt today, would be a dramatically lesser figure if commercials were never created (whether it be from TV, radio, internet, billboards etc)? Do you think it would even make a difference? Lastly, would you enjoy TV, radio, the internet, and your drive home from work– waaayy more if advertisements were non-existent? Personally, I can not stand someone trying to sell me “the new something” everyday of my life!

[A side note: A recent study revealed that the average American is able to identify over 1,000 + company's (fast food, clothing brands, car makes/models etc) just from a glimpse of their logos, but could identify less than 10 plants and animals native to their own region]

If anyone even answers…I thank you for your thoughts lol : )

Best answer:

Answer by Healed 2nd Account
Oh, heck yes… We had a huge discussion on this topic in Popular Culture (Sociology). I did the test myself, I could identify most of the labels but none of the flowers.

What do you think? Answer below!

by Michigan Municipal League (MML)

Question by Method To The Madness: Do you think there would be markedly less personal debt in the US if television advertisements did not exist?
In your opinion, do you believe that the number of American consumers that are in debt today, would be a dramatically lesser figure if commercials were never created (whether it be from TV, radio, internet, billboards etc)? Do you think it would even make a difference? Lastly, would you enjoy TV, radio, the internet, and your drive home from work– waaayy more if advertisements were non-existent? Personally, I can not stand someone trying to sell me “the new something” everyday of my life!

[A side note: A recent study revealed that the average American is able to identify over 1,000 + company's (fast food, clothing brands, car makes/models etc) just from a glimpse of their logos, but could identify less than 10 plants and animals native to their own region]

If anyone even answers…I thank you for your thoughts lol : )

Best answer:

Answer by Fred
NO,but there would be if you don’t spend what you don’t got.good concept.and so easy.

What do you think? Answer below!

by eric731

Question by umccatty: a bank that would take over a person’s personal debt?

Best answer:

Answer by Bud’s Girl
They’d be booked with customers within the first 1/2 hour!

Add your own answer in the comments!

by MANILA IMPERIAL MOTOR SALES . . . .

Question by chrisandniki: Personal Debt Question: Dave Ramsey Listeners . . . what would you do?
We’re currently following Dave Ramsey’s Baby Steps. We’re on Baby Step 2 (getting out of debt).

We have a $ 7000 debt on Car 1, a $ 6500 on Car 2, and $ 15,600 on a credit card (at 18%).

I know he says hit the lowest to biggest debts first, but I’m thinking maybe I should (1) do a total or partial balance transfer of that credit card amount to another card for 0%, or (2) put everything toward the credit card and get it paid off first.

If worse came to worse and we were to lose our income, we could sell a car. But that credit card feels like a loaded gun in our pockets. I want it out of our life.

What would you do?

Best answer:

Answer by Jaclyn&Dave
Transferring the card won’t eliminate the debt, but it may get you some relief on the rate. You would need to know the transfer fees and the potential interest payments to make an informed decision.

Remember, the cars are collateral loans (meaning there is something to repossess) and the CC is an unsecured loan … so paying off the cars first is a smart move.

You can do it! Keep to the budget, keep income up, and attack the debt as if your future wealth and prosperity depended on it! (because it does)

What do you think? Answer below!

Question by chrisandniki: Personal Debt Question: Dave Ramsey Listeners . . . what would you do?
We’re currently following Dave Ramsey’s Baby Steps. We’re on Baby Step 2 (getting out of debt).

We have a $ 7000 debt on Car 1, a $ 6500 on Car 2, and $ 15,600 on a credit card (at 18%).

I know he says hit the lowest to biggest debts first, but I’m thinking maybe I should (1) do a total or partial balance transfer of that credit card amount to another card for 0%, or (2) put everything toward the credit card and get it paid off first.

If worse came to worse and we were to lose our income, we could sell a car. But that credit card feels like a loaded gun in our pockets. I want it out of our life.

What would you do?

Best answer:

Answer by Jaclyn&Dave
Transferring the card won’t eliminate the debt, but it may get you some relief on the rate. You would need to know the transfer fees and the potential interest payments to make an informed decision.

Remember, the cars are collateral loans (meaning there is something to repossess) and the CC is an unsecured loan … so paying off the cars first is a smart move.

You can do it! Keep to the budget, keep income up, and attack the debt as if your future wealth and prosperity depended on it! (because it does)

What do you think? Answer below!

Question by Dawn U: I heard there was an organization of individuals who would do a personal loan for people in debt?

Best answer:

Answer by Growl
It’s called the Mafia. 25% per month interest with penalties (broken bones) if you miss a payment.

Know better? Leave your own answer in the comments!

Question by John: is it fraud to report personal loan as income? This would allow reporter to improve debt to income and borrow?

How about investor funds in a business paid as salary to CEO reported as income for the same purpose?

Best answer:

Answer by wizjp
Of course it’s fraud.

Loans are loans and income is income. They are not the same

Generally any salary not coming out of income are going to trip issues with the IRS.

Money laundering.

In other words from the frying pan to the fire here.

Give your answer to this question below!

by eric731

Question by juan p: would it be better for my credit score if I got a personal loan to pay off my credit card debt?
My credit score is average right now, but I’ve had accounts with balances on them since I was a teen and I’m in my mid 20s now.

Best answer:

Answer by Billy
Not really, because you will still have the same amount of unsecured debt showing on your report. In fact the hit that your score would take by opening the loan may cause your score to drop a bit. But if you are struggling with making the payments it may be worth the hit, if getting a lower interest rate would help lower your monthly payments.

Add your own answer in the comments!