Debtors' prisons making a return?

[Spiralmind]

http://online.wsj.com/article/SB20001424052748704396504576204553811636610.html

http://act.demandprogress.org/act/debtors_prisons/?source=fb

[sunflower]

Scary concept.

[Rocky_Shorz]

yep we'll need lots of room for all these bankers... ;)

[GK76]

America: Mass unemployment caused by the banks and government screw up - public money thrown at banks to bail them out of a problem of their own creation - extreme national debt caused by the usual suspects - I have a good idea: let's attack the people some more and make them feel that their paltry debts are the problem!

It's sad to see such an ill-conceived idea like 'debtor's prisons' making a reappearance, naturally it will avoid the true criminals. Imagine how bad their lives were before convicted - now imagine the mess that will emerge when the system has had it's fun. Even if they were to put a 21st century spin on the old idea - this is no justice, especially with the banksters allowed to roam free after being bailed out; force the bankers to be incarcerated until they have worked off their debts. The people again held accountable for the government and bank's mistakes (by mistakes I mean: calculated destruction from within). Guess which social strata this will hit hardest?

I'm glad I removed any connection to credit from my life, the trouble is it's so easy to fall into that trap if the circumstances arise. This subject really annoys me, especially when the credit companies happily draw people in - yet take no blame for what they helped create.

[Flash]

http://online.wsj.com/article/SB20001424052748704396504576204553811636610.html

http://act.demandprogress.org/act/debtors_prisons/?source=fb

Thank you for the videos. However, it would have been nice if we could have had a slight idea of their content prior to listening, just to know if it is in our field of interest as there is not enough time in a week to listen to everything on Avalon, even if one wishes he could - working of family folks demand.

[king anthony]

I can speak on this topic firsthand;

Quote from article 1

"Some lawmakers, judges and regulators are trying to rein in the debt-collection industry's use of arrest warrants to recoup money owed by borrowers who are behind on credit-card payments, auto loans and other bills.
More than a third of all U.S. states allow borrowers who can't or won't pay to be jailed. Judges have signed off on more than 5,000 such warrants since the start of 2010 in nine counties with a total population of 13.6 million people, according to a tally by The Wall Street Journal of filings in those counties. Nationwide figures aren't known because many courts don't ..."

Quote from article 2

"Americans are in more debt than ever before, and the banks are going to new extremes to squeeze us for every last penny: If you can't pay up, they'll try to get you locked up.
The Wall Street Journal has been investigating the disturbing resurgence of debtors' prisons throughout America -- here's one especially infuriating example of what the banks are up to: AIG got a $122.8 billion bailout from taxpayers. Jeffrey Stearns happened owed AIG $4,000 on a loan for his pickup truck. How'd the mega-corporation handle his debt? Did they forgive him because of the public's recent largess? No way: They had him arrested in front of his family.

After being handcuffed in front of his four children, Mr. Stearns, 29 years old, spent two nights in jail, where he said he was strip-searched and sprayed for lice. "I didn't even know I was being sued....It's the scariest thing that ever happened to me."
The Wall Street Journal's data reveals that across the country, banks are having tens of thousands of Americans arrested over their debts. What happened to Stearns could happen to almost anybody. Some state legislators are moving to outlaw the practice. Will you urge your lawmakers to join them?"

In breif;

I had spent several years (years ago) developing and perfecting a new way of debt recovery using litigation. Traditionally, debt recovery was giving to collection agencies; collection agencies have no authority to recovery debts from a debtor - I would be more then happy to discuss this in a PM with anyone in that industry who disputes this.

Proof of this can be seen when debtors became wise to the actually authority of 'traditional collections' (in the mid 2000's), thus recovery rates dropped. Many of the biggest corporations (national and global) suffered for this and I watched from behind the scenes.

My formula incorporated 'traditional collections' with litigation, by adopting (and adapting) a real-time online portal used by the 'traditional collections' industry. Without getting into details of how this worked, credit grantors (prime and sub-prime lenders alike) would have their portfolios qualified - the volumes worth litigating went one way and those not would another.

Ninety percent of claims for recovery went into default, thus obtaining default judgment; two percent were statute barred leaving the remaining defended. One example around a file that was statute barred was fraud (complex to explain); (example) a layperson who borrowed from a credit card knowing they couldn't pay it back had committed fraud - and the bankruptcy defense no longer.

Any good advocate could use the system to 'crunch' a debtor regardless of any defense. Once judgment was obtained, either by default or trial, the judgment was good for twenty years. Most of the claims defended are settled, with such terms as;


"It is further agreed, should the Defendant default (to mean, the next day after the payment date), the Plaintiff may ask the clerk of the court to sign judgment against the said defendant(s), and the person signing on behalf of a corporation/business (if applicable) agrees to be a personal guarantor of any monies claimed.

“Exparte” for the full amount of the ORIGINAL CLAIM, costs and to include pre and post interest as set out by the rules of ..."

After all the above said is done, the enforcement proceeding begins. During this process, if someone is found in contempt (in any way), a contempt hearing may be held; thus the person may go to jail (each time). If a person does not comply with a court order they can end up going to jail. For clarity, people do not go to jail for the debt; but rather, for not complying with what a judge says.

This concept (of mine) was well received by corporations and the large 'traditional collection' (international size) agencies, as they could afford the P.T.S. if/when needed. This revolutionary way to recovery debts made many people extremely wealthy (a win-win for all) - except 'those' who were cheated out their part; this 'trampled' the common person 'into the ground'; I admit, seeing human beings break into tears pained me.

I didn't realize my contribution to the 'system', until afterwards. The debt slave is bound for 20 years (here) and may go to jail for not complying with a court order - 'because of a debt owed'.

However, there are ways to be successful and ways to be free from all this...

[Spiralmind]

http://online.wsj.com/article/SB20001424052748704396504576204553811636610.html

http://act.demandprogress.org/act/debtors_prisons/?source=fb

Thank you for the videos. However, it would have been nice if we could have had a slight idea of their content prior to listening, just to know if it is in our field of interest as there is not enough time in a week to listen to everything on Avalon, even if one wishes he could - working of family folks demand.


Neither of the links I posted contained video content. The first link was to a short article on the Wall Street Journal website, the other was a petition from "Demand Progress".

[jjl]

It's sad to see such an ill-conceived idea like 'debtor's prisons' making a reappearance,

I don't think it was ill concieved I think a lot of time and effort were put in to that idea...

[king anthony]

...a lot of time and effort were put in to that idea...

Yes there was.

[Lost Soul]

Prison was once a growth industry in California. Now that the state is broke (and so is the Federal Government), we can't afford incarcerating folks, especially for being indebted.

[Rocky_Shorz]

let's see, the government racked up $14 Trillion in debt they can't pay and they are going after who?