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Debates Forum

Debates Forum

  1. Subscriber AThousandYoung
    Poor Filipov :,(
    07 Jan '11 20:21
    I have lots of people I owe money to. I have some money and I want to pay people back. Who do I choose?

    Why is it so difficult to transfer money to people you owe? It's so much easier to spend money irresponsibly than to pay people back. Creditors are usually demanding and punitive, and very inconvenient.

    Shouldn't market competition lead to improvements in the debtor's ability to pay debts on impulse?
  2. Standard member Palynka
    Upward Spiral
    07 Jan '11 20:53
    Maybe they can give you a gold star every time you pay?
  3. 07 Jan '11 20:58 / 1 edit
    Originally posted by AThousandYoung
    I have lots of people I owe money to. I have some money and I want to pay people back. Who do I choose?
    Here's my order of payback preference:

    Loan sharks or any other criminal lendor
    High interest credit cards and loans
    Utilities and services (Electric, Cable, Phone, etc.)
    Low interest credit cards and loans
    Lines of credit
    Friends
    Family
  4. Standard member joneschr
    Some guy
    07 Jan '11 22:51 / 4 edits
    Forget them all and donate to your favorite charity - who'll be more grateful.

    Disclaimer: this is in no way sound fiscal advice.

    I think you'll find that if you delay your payments too long, they'll start making it real easy for you to choose though - in the form of garnished wages and what have you.
  5. 08 Jan '11 00:13 / 1 edit
    Originally posted by darvlay
    Here's my order of payback preference:

    Loan sharks or any other criminal lendor
    High interest credit cards and loans
    Utilities and services (Electric, Cable, Phone, etc.)
    Low interest credit cards and loans
    Lines of credit
    Friends
    Family
    Here is my list in order of importance.

    1. IRS
    2. Mafia/criminal lenders/ loan sharks (They are not as bad as the IRS but close)
    3. Student loans (Can't ever get rid of them with bankrupcy)
    4. Anyone about to take anything else from me.
  6. 10 Jan '11 18:55 / 1 edit
    Originally posted by AThousandYoung
    I have lots of people I owe money to. I have some money and I want to pay people back. Who do I choose?

    Why is it so difficult to transfer money to people you owe? It's so much easier to spend money irresponsibly than to pay people back. Creditors are usually demanding and punitive, and very inconvenient.

    Shouldn't market competition lead to improvements in the debtor's ability to pay debts on impulse?
    Sean Penn lost a couple of fingers in U-Turn, to loan sharks. (1997)

    how long til you reach that point?