Debtland - Part 1 of 5

[ChrisCapel1998]

How about you just think about your financial situation for two seconds before signing away for 50k worth of credit card debt?

These people have no one to blame but themselves. Sure, the banks are predatory. But they can't physically force someone to take a loan.

This is just like those ads against tobacco companies. Guess what? If people stop smoking, the companies will go out of business. Period.

People are stupid.

[TheRewster1]

"Why do you keep taking out the loans"? "Because they keep giving it to us". that says it all

[ltt989]

I'm so happy all these people are suffering. It makes me laugh!

[CelticReject]

I wonder how this family are fairing now. I hope that they are ok and safe. This was very sad to see.

[beneehall]

This was all engineered by the bastards that own half the world's central banks. The Rothschild's. Look it up. It's all been done to suck up the wealth and capital of the poor. The rich get richer and the poor get destitute.

Look up,

the five dancing Israelis

the USS Liberty

Jonothan Pollard

whatreallyhappened(*)com

globalresearch(*)ca

[lorax2013]

Why did you keep taking out the loans? "Because they kept giving it to us." Well, at least this family had a nice mansion for a few years. The real problem is that once these people default, the bank doesn't take the loss. The loss is passed on to uninvolved taxpayers by politicians in the back pocket of the banking industry.

[whosoldusout]

@lorax2013

This is part of the problem. There is all too often an unwillingness on the part of the borrower to accept any real responsibility for their part in the bad transaction. I find the practices of the banks utterly disgusting but let's not be fooled into looking upon all borrowers as victims. The biggest slap in the face is for those who have lived well within their means, doing without and who now foot the bill for a transaction that had nothing to do with them in the first place.

[jester1cp]

Why is she going threw all that trouble to clean the house.I think most people would say screw it let someone else bust there a** to clean this place.

[krdobbs]

Is it really the banks fault when YOU are the one who keeps taking the money? Am I supposed to feel sorry for people like this? There are people in the world that are staving everyday and NOT because they kept taking out debt to buy things they didn't need. What we are missing in this world is personal responsibility! If this story is about you then WAKE UP!

[yrulooknatme]

they are doing to you guys what they did to U.S.

don't take the bait. Proves that it is a conspiracy to thrust the world into chaos!

[solarisgalrocks]

never again will I take out credit or loans. Let the banks play their own games, those sharks.

[MetalHeadViking]

It`s not suposed to be about classwarfare you idiots! It shows that even people from the middle-class with good living conditions, now end up homeless.

[rootytooty23]

sounds like whats coming to Canada...but the Canadian sheep are still asleep and in denial

[MAFlOTU]

1:16 fuck this shit !!!

what a huge nice fancy house !!!

well, this ain't gonna work.... you live in a palace and we live in a cage...

that's sick !!!

[Peridolin]

I agree.

Looking at the size of that house, I can't say I feel sorry for those ignorant, greedy losers.

[singledad1234]

LIVE WITH FAMILY

[singledad1234]

fourty two

just looking for a woman

that wants to be married

for the ten year depression

and live in canada

[archiebunkerfan]

naive and excited midget sets his bar too high.

I bought my house what my two years of my earnings bring and do not have to pray to God now. Nice and big my house is too, not like yours though but I sleep okay.

Nice day.

[GoldisSound]

"Never spend your money before you have earned it." - Thomas Jefferson

[cordoovab]

@GoldisSound, I have that "Jefferson's Ten Rules'' on my wall, but I just learn Jefferson was in debts all his life and die in debts. lol

[thelumberjackjohn]

look like america

[JayKay62969]

I've never vacated a property not having cleaned it thoroughly. I didn't know there were so many filthy people out there. I guess that's why my landlords are always astonished when they have to return my deposit.

[tonjg]

why clean a house that you're being thrown out of? That's the opposite of what many do, which is totally trash the place when they have to go. I've heard of people completely destroying a house that the bank is about to repossess. So what if the bank is angry. What are they going to do? sue you? If you're being reposessed you're penniless anyway so fuck them to hell.

[Repomex01]

thats what the people who I finance cars to do sometimes, when they cannot pay me anymore gotta love them.

[tonjg]

same thing kind of happened to me years ago when I used to rent machines. sometimes if someone could no longer keep the rental up I would have to collect the machine, and often the thing would be beaten up to junk.

[JayKay62969]

What an incredibly immature and irresponsible attitude and at the core of America's problems too I might add.

[derek12b]

Its called dignity. You will understand later on in life. Merry Christmas!

[tonjg]

hey thanks for your wisdom derek but spare me the patronising.

[davidinla36]

The best thing they can do is the the lenders and the people who invested in the CDO securities fall flat on their faces. These parasites have caused way too much distruption in the financial markets around the worlds and they need a good spanking. Sadly, too many U.S. politicians are bought and paid for by these lenders.

[wowthungsten]

I think the best way to go about it is to talk to all the people in the same situation and form a group. Then they go to the bank and say: we get a better loan or we default on all our debt all at the same time.

It takes a couple of hundred thousand people to do that right. As Trump said: "If you owe the bank 100 million, you have a problem. If you owe the bank a billion, the bank has a problem. No reason not to share the pain, people."

[ChristiansMustLearn]

good thinking

[davidinla36]

A couple of years ago here in the U.S., a lender was putting advertisements on the radio where they claimed that people in Australia did not have bank accounts and instead used their home equity as a savings account. I don't know if this was true, but the U.S. lender was encouraging people to squeeze out every last time in equity from their homes. Today we have a serious problem and the politicians are tripping all over themselves in an attempt to cure it. The best thing they can do...

[tyronebiggums3]

I'm puzzled why they're spending so much time cleaning the house. Although, here in the USA, people do the opposite--they trash the houses before vacating.

[WorldIssues2000]

They are doing it to sell it at an auction for a price good enough to clear their debts; unfortunately that didn't happen (see part 5).

[ltt989]

@WorldIssues2000

good serves them right. these bastards thought they could live in a big house without paying for it. stupid greedy fuckers. I'm so glad they are suffering now. I hope they die.

[piginasack]

@tyronebiggums3 - We can't just turn our homes in like in the USA. We still retain the debt. Once the banks sell the property we are left with the outstanding balance.

[tyronebiggums3]

@piginasack

Well, that should have provided motivation to not overpay for houses. Thanks for the information.

.

Here in the USA they preach a recovery, yet foreclosures are still at record levels. Check out Dr. Housing Bubble if you get a chance. I'd say we're still in the early or middle innings of this game.

[lextallonis]

The whole banking cartel is predatory. Federal banking is a scam whereby they print money out of thin air then charge interest on it, enslaving populations for generations. There is coming a time when usurious tyrants will once again be hauled from their very homes and held to account. And I will not shed a tear.

[tyronebiggums3]

Thanks. Just watched it. People need to realize that debt is not good. It should be avoided whenever possible. If you have to take it on, you must understand the risks. Avoid debt, be free.