You want 21 percent risk free? Pay off your credit cards.
quote by Andrew Tobias
Submitted by Lucian Velea
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Social Insecurity
Strapped Seniors use credit cards ‘stead of cash
To stay afloat, after losing their stocks n’ bonds
Yet more victims of another Wall Street crash
“Let them eat cake” is what the Fed responds
ROTMS
From Reuters Article 10/23/2010
Retired and broke: Why retirees are declaring bankruptcy
For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.
Those aged 65 and older represented seven percent of bankruptcy filers in 2007, a mind-boggling jump from 1991. They are the “fastest-growing age demographic, ” according to Pottow’s study.
What’s the culprit for so much debt? Credit cards. Two-thirds of Americans who filed for bankruptcy said credit cards were the key reason for their financial problems, according to Pottow’s research. Besides having more credit card debt compared with younger bankruptcy filers,44.8 percent of those aged 65 and older also had more plastic in their wallets. “They’re using credit cards as a maladaptive coping mechanism, ” Pottow says.
Stephanie Osterland, a supervisor in the bankruptcy department at GreenPath debt solutions, sees an increasing number of seniors living beyond their means. Says Osterland: “They’re just trying to live off of a fixed income, and that’s usually Social Security. Maybe they have a small pension. We find they’ve used credit cards to supplement that income and expenses or they just end up getting into a lot of medical debt.”
In addition to escalating medical expenses, seniors have seen their portfolios hit hard by the lagging stock market. Carolyn Rodi of Saving Your American Dream says those considering bankruptcy should see a credit counselor at a non-profit organization to get their finances in order.
Credit counselors, such as those at GreenPath, help the elderly deal with a stressful situation. “We try to help them focus on what it’s going to look like” after they get out of debt, Osterland says.
Rodi also recommends that potential bankruptcy filers seek out pro-bono legal aid. “There are a lot of elderly people that are being taken advantage of by bankruptcy attorneys and mortgage brokers who are advising them improperly to pay for the bankruptcy, take out a reverse mortgage or to do things that aren’t in their best interest, ” she says. ”If you have no income, why should you borrow to pay someone when you can get free legal aid? ”
What are the chances of a senior paying off his or her debts? It’s difficult to determine, especially because seniors tend to be on a fixed income. And while finding a job — such as a WalMart greeter — seems like a viable option, it is not necessarily feasible for all seniors to work.
In addition, whether or not a person declares Chapter 7 (which involves the liquidation of one’s assets) or Chapter 13 (which allows debt restructuring) bankruptcy can be a significant factor in determining what one’s lifestyle will be. “If you have to file for Chapter 7 bankruptcy, you may be able to find affordable housing that allows you to just get by, ” says Rodi. “Chapter 13 lets you keep your house and doesn’t touch your retirement savings.”
Regardless, filing for bankruptcy is very stressful for anyone. “A lot of our clients in that post-retirement age have a hard time coming to grips with their situation, ” Osterland says. “It’s very emotional for them. We try to focus on the future and see if this debt can be lifted off their shoulders.”
poem by Ray Lucero
Submitted by Poetry Lover
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Like Mother Like Daughter
When I was a child had dollies and teddies
I played tea party and bookstore,
And followed mum around the shopping centre with my dolly in her pram
I had my pretend credit cards and they were the coolest thing ever.
Now the dolly in her pram has turned in to a real child,
And my pretend credit cards are real
I don’t play tea party but make dinner every night
And a bookstore is a place where I buy text books and parenting books,
Not comics and novels
Soon again it will be time for tea parties and teddies,
And going shopping with dolly in tow
But now it is my little girl who has grand dreams of being just like her mum
Of having credit cards and a daughter of her own.
But for now as I watch her sleep I pray she does not repeat my mistakes
poem by Kayla Lines
Submitted by Poetry Lover
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They're pushing credit cards. They don't take Visa, but they do take American Express, or they don't take this one, but they take that one, or you'd better bring this one, or if you forget who you are, look on your credit card; it will be there.
quote by Bill Janklow
Submitted by Lucian Velea
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Buy Me A Condo
Gonna buy me a condo
Gonna buy me a cuisinart
Get a wall-to-wall carpeting
Get a wallet full o credit cards
I gonna buy me a condo, never have to mow de lawn
I gonna get me da t-shirt wit de alligator on
Wo, used to live in jamaica but I dont live dere no more
Had to change me lifestyle
Do tings I never done before
So now Im just a lonely rastaman
Living in dis american town
Gonna sell me bob marley records
Gonna get me some jackson browne
I gonna buy me a condo
Gonna buy me a cuisinart
Get a wall-to-wall carpeting
And get a wallet full o credit cards, eh
I gonna buy me a condo, never have to mow de lawn
I gonna get me da t-shirt wit de alligator on
Wo, gonna cut off me dreadlocks
Trow away all me ganja
Ill have a tupperware party
Maybe join me a health spa
Ill get a bowl of plastic fruits
And a microwave oven, too
Then Ill have the neighbors over for a weenie barbeque
Gonna buy me a condo
Gonna buy me a cuisinart
Get a wall-to-wall carpeting
Get a wallet full o credit cards, oh
I gonna buy me a condo, never have to mow de lawn
I get a funny little t-shirt wit de alligator on
Aint gonna work in de field no more
Gonna be amway distributor
Aint gonna work in de field no more (no, no)
Gonna be amway distributor
(ja) ja, ja, ja, life is so very hard
I need a (ja) ja, ja, ja jacuzi in me back yard
Oh, I gonna buy me a condo
Gonna buy me a cuisinart
Get a wall-to-wall carpeting
Get a wallet full o credit cards, eh
I gonna buy me a condo, never have to mow de lawn
I gonna get me da t-shirt wit de alligator on
Whatd you say?
I gonna buy me a condo
I gonna buy me a cuisinart
Get a wall-to-wall carpeting
Get a wallet full o credit cards, oh
I gonna buy me a condo, never have to mow de lawn
I gonna get me da t-shirt wit de alligator on
Whatd you say?
I gonna buy me a condo
Gonna buy me a cuisinart
Get a wall-to-wall carpeting
And get a wallet full o credit cards, oh
I gonna buy me a condo, never have to mow de lawn
I gonna get me da t-shirt wit de alligator on
song performed by by Weird Al Yankovic
Submitted by Lucian Velea
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Nothing to declare
we need passports id-s and an
unrepeatable unique crucial numbers of a citizen
we look at those photographs with weary visa faces
that reflect a tiresome long standing in a queue
why can't we sit
we need hands palms a pointer sealed in an
unrepeatable unique crucial print of a citizen
why can't we make a handshake
we need this for the sake of neat info organization
so as not to be lost so as to be easily found
why is no one looking for us
we need health cards credit cards phone cards
business cards membership cards
why can't we discard them
we need birth school pre post BA MA PHD certificates
why can't we really sign them
we need a luggage a lift a transport a life
why can't we travel
why do we have
nothing to declare
poem by Miroslava Odalovic
Submitted by Poetry Lover
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We believe you will not have to pay more than the current rate structure proposes - which is, for 50 percent of the public, nothing; for another 25 percent, only a 10 percent increase; and for the remaining 25 percent, a 34 percent increase.
quote by Gray Davis
Submitted by Lucian Velea
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Credit card companies pay college students generously to stand outside dining halls, dorms, and academic buildings and encourage their fellow students to apply for credit cards.
quote by Louise Slaughter
Submitted by Lucian Velea
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According to the Gallup Poll, 24 percent of American adults exercised regularly in 1961, and 50 percent after 1968. The peak was 59 percent in 1984, dropping off to 51 percent last September.
quote by Kenneth H. Cooper
Submitted by Lucian Velea
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Endangered Species
When I wanted a credit card...
I was denied it.
Not qualified.
I was told no one would touch me!
Today...
Since I do not want a credit card.
And live within my fixed and bolted down budget...
I am bombarded.
Through the email.
My regular home mail.
Telephone calls.
Even those passing flyers on the street:
'We Can Have You Financed...
Before Your Next Breath Is Taken! '
Of course I exaggerate...
But those refusing credit today,
Are at risk!
It's like becoming an endangered species.
And to say 'NO! '
That is truly unpatriotic.
Today?
Not to be deep in depth,
Is Un-American!
poem by Lawrence S. Pertillar
Submitted by Poetry Lover
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The 'Look-At-Me-And-What-I've-Got-Type
I've met a few snooty people in my days.
The ones who perceived themselves,
Better than others...
Because of a higher mortgage the had to pay.
Or the ones who bragged about their good credit.
And would announce the number of their credit cards,
To anyone for a quick display.
And those who were comfortable being who they are,
Always attracted my attention with admiration.
Those who were comfortable being who they are...
Were honest with themselves.
And to me this was a priceless possession.
People who talk about their stocks and bonds,
And investments they live on...
I don't fault them for what they believe is security.
People have their values and I respect that.
It is the ones self obsessed who appear to thrive best,
On masquerading their unhappiness....
With a projecting of pretentions the try to hide,
In a shallowness of emptiness.
The 'look-at-me-and-what-I've-got-type'.
You know...
The ones climbing down from their high horses,
Hoping not to be seen at night.
Since today the economy,
Has their mouths and lips shut firmly tight!
I've met a few snooty people in my days.
The ones who perceived themselves,
Better than others...
Because of a higher mortgage the had to pay.
Or the ones who bragged about their good credit.
And would announce the number of their credit cards,
To anyone for a quick display.
Well...
Those who were and 'still' comfortable being who they are,
Always attracted my attention with admiration.
poem by Lawrence S. Pertillar
Submitted by Poetry Lover
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Until Again The Gloss Wears Off
Money motivators,
Chase it as if craved.
With only one thing on their minds...
How to keep sentimentally kept teasured clutter,
With an updated sameness.
That maintains a 'living within their means mentality'.
This affords them an opportunity,
To activate a rearrangement of a thought process...
That tolerates new complaints!
Until again the gloss wears off.
No matter what the hidden cost,
That comes to satisfy...
Within unchanged limitations.
And a credit score that is boasted about,
Among friends.
'I do not want 'anything'...
Absolutely nothing,
To affect my good credit rating.
I find it is advantageous,
However...
To only use any of my credit cards,
Only while out shopping to purchase bargains!
And I've got a houseful of those.'
poem by Lawrence S. Pertillar
Submitted by Poetry Lover
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Explain
Explain...
If one with 'good' credit,
Is still paying on debts.
Why is one without any debts at all,
Considered a credit risk?
Or can not achieve a credit rating!
And the one with debts...
Is pursued to go even further in it?
Or at best,
Has a low credit standing!
BUT...
Can achieve even 'more' credit,
IF debts are kept at a minimal amount!
Explain...
The one who can not make a bill payment at all,
Is sought to make 'arrangements'!
And 'this' is a way of life that's loved?
Leaving those unemployed who lose benefits,
To lower unemployment statistics...
Even though they can not find jobs!
And those hopping the fence illegally,
Without documentation
No vested interest.
No signs of reading, writing, speaking
OR understanding the language...
Are offered retirement packages,
WITH health coverage!
And they wonder 'why' wild animals
Are leaving the forest in droves!
Many are seen escorting their young,
To soften the hardest of hearts!
'Look...
There's a wolf attacking our pet dog,
In the backyard!
But...
Aren't those eyes just adorable? '
Explain!
poem by Lawrence S. Pertillar
Submitted by Poetry Lover
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Most people live ninety percent in the past, seven percent in the present, and that only leaves three percent for the future.
John Steinbeck in The Winter of our Discontent
Submitted by Lucian Velea
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If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain.
quote by William Vickrey
Submitted by Lucian Velea
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Skating takes up 70 percent of my time, school about 25 percent. Having fun and talking to my friends, 5 percent. It's hard. I envy other kids a lot of things, but I get a guilt trip when I'm not training.
quote by Michelle Kwan
Submitted by Lucian Velea
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Enemy
I owe no man, no man owes me
Exactly as it ought to be.
I pay hard cash for what I buy.
There is a simple reason why.
I will not pay expensively
for things I buy impulsively.
I do not need the latest style
I find that if I wait a while.
That fashion change and prices fall
I can resist the siren call.
Of T.V. adverts telling me
that I can have all that I see.
By spending on my credit card,
but I am always on my guard.
I have no debts that worry me
at nights I can sleep peacefully.
Your credit cards an enemy
although it claims to be friendly
I know it is convenient
It’s too easy to get overspent,
25-Apr-08
poem by Ivor Or Ivor.e Hogg
Submitted by Poetry Lover
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Life was a lot simpler when what we honored was father and mother rather than all major credit cards.
quote by Robert Orben
Submitted by Lucian Velea
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I know a baseball star who wouldn't report the theft of his wife's credit cards because the thief spends less than she does.
quote by Joe Garagiola
Submitted by Lucian Velea
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In the late 1980s the amount of German films was down to four or five percent of the market, and the remaining 95 percent were American. It is now 20 to 30 percent German productions.
quote by Wim Wenders
Submitted by Lucian Velea
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A Better Quality of Life
Why should I desire to have better credit?
When a better quality of life,
Is all I wish and need.
Are those who have a better credit rating,
Living lives that are troublesome free?
Few I see walking.
Or exercising their right,
To feel healthier and bright.
Most with a better credit rating,
Than the one I possess...
Seem to be stressed and obsessed with regrets.
Why can't they whip out a piece of plastic,
Or be 'loaned' out of their mess?
Isn't that what having good credit means.
An ability to temporarily be free of duress.
That sounds so inviting.
To live for the creditors to hound and bite.
Hmmm...
I think not.
Not on my drug free watch!
When I challenged myself to look away from 'things'.
There were those who believed I had lost my mind.
Literally!
Since I did not chase behind,
Luxury items.
Marketed to confine.
I chose to leave that kind of life behind.
When I challenged myself to look away from 'things'.
Only the necessities,
Brought me more happiness it seems.
'And you say I can get two of these for a dollar?
Can I get three for twenty five cents more?
Why are you staring at me? '
I spend what I can,
On what I can afford.
And after doing that...
I may be broke but far from bored.
Exploring those things like nature walks,
Or riding daily on a bus.
I admit in the beginning...
A few choice words I openly cussed.
And that action began my release.
'I's free.
I's free.
I's be free like morning glory.
Well...
Not entirely.
I still pay basic bills.'
Stripped from impressions I see others attempt.
With a clear mind unaddicted...
These observations now to me make less sense.
I spend what I can,
On what I can afford.
And after doing that...
I may be broke but far from bored.
Life unattached to crap,
Can be quite exciting!
Although social invitations are few,
And far between.
But having peace of mind that is recognized...
Is more fulfilling than being in and around those scenes.
And that's a given.
Why should I desire to have better credit?
When a better quality of life,
Is all I wish and need.
I is free from pretentious living.
Uh-uh.
Yessuh!
Are those who have a better credit rating,
Living lives that are troublesome free?
If they are,
I don't see it!
poem by Lawrence S. Pertillar
Submitted by Poetry Lover
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