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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Garibaldi
()
Date: January 18, 2019 09:47AM
A tax on the poor.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Huh??
()
Date: January 18, 2019 09:52AM
vehicle registration fees?
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
e6jjy
()
Date: January 18, 2019 10:14AM
> vehicle registration fees?
You must be a liberal since you didn't understand this. Any flat fee or tax disproportionately affects those with lower incomes. If you make $30,0000/yr, a $30 registration fee is more significant than a making $120,000/yr. At $30,000/yr you very little discretionary income which exacerbates this problem.
You must be a liberal since you didn't understand this. Any flat fee or tax disproportionately affects those with lower incomes. If you make $30,0000/yr, a $30 registration fee is more significant than a making $120,000/yr. At $30,000/yr you very little discretionary income which exacerbates this problem.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Money maker
()
Date: January 18, 2019 10:45AM
I suspect I have a little more sympathy for the poor than most here. I could rail on about libtards and broke asses needing to get a job, but that doesn’t fix the problem. Allow me to give some advice;
-to get rich, or at least have enough $ to live comfortably and pay your bill, you need to have multiple streams of income. That could be through getting a second job or starting your own side business.
- living beyond your means I find is the #1 that causes people to be broke. If you’re living paycheck to paycheck, you shouldn’t be wasting money on eating out, buying the latest iPhone or buying a new car.
- learn to save and more importantly invest your money. Pay yourself first before paying bills. Put money away so it’s out of your reach. Financial literacy is something severely lacking in people today.
-to get rich, or at least have enough $ to live comfortably and pay your bill, you need to have multiple streams of income. That could be through getting a second job or starting your own side business.
- living beyond your means I find is the #1 that causes people to be broke. If you’re living paycheck to paycheck, you shouldn’t be wasting money on eating out, buying the latest iPhone or buying a new car.
- learn to save and more importantly invest your money. Pay yourself first before paying bills. Put money away so it’s out of your reach. Financial literacy is something severely lacking in people today.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
normal man123
()
Date: January 18, 2019 11:38AM
Money maker Wrote:
-------------------------------------------------------
> I suspect I have a little more sympathy for the
> poor than most here. I could rail on about
> libtards and broke asses needing to get a job, but
> that doesn’t fix the problem. Allow me to give
> some advice;
>
> -to get rich, or at least have enough $ to live
> comfortably and pay your bill, you need to have
> multiple streams of income. That could be through
> getting a second job or starting your own side
> business.
>
> - living beyond your means I find is the #1 that
> causes people to be broke. If you’re living
> paycheck to paycheck, you shouldn’t be wasting
> money on eating out, buying the latest iPhone or
> buying a new car.
>
> - learn to save and more importantly invest your
> money. Pay yourself first before paying bills. Put
> money away so it’s out of your reach. Financial
> literacy is something severely lacking in people
> today.
I agree. I was shocked to hear how many of the government workers who were furloughed crying about missing a couple paychecks. People need to adjust their lifestyle to their income.
About 20 years ago I had a job processing loans at a car dealership. It was the poor people with low credit scores that bought the most expensive cars most of the time. I would see Wealthier people with fico scores over 800 that would buy a 4 or 5 year old inexpensive sedan with 60 or 70k miles on the odometer. They usually made a big down payment or just paid cash.
-------------------------------------------------------
> I suspect I have a little more sympathy for the
> poor than most here. I could rail on about
> libtards and broke asses needing to get a job, but
> that doesn’t fix the problem. Allow me to give
> some advice;
>
> -to get rich, or at least have enough $ to live
> comfortably and pay your bill, you need to have
> multiple streams of income. That could be through
> getting a second job or starting your own side
> business.
>
> - living beyond your means I find is the #1 that
> causes people to be broke. If you’re living
> paycheck to paycheck, you shouldn’t be wasting
> money on eating out, buying the latest iPhone or
> buying a new car.
>
> - learn to save and more importantly invest your
> money. Pay yourself first before paying bills. Put
> money away so it’s out of your reach. Financial
> literacy is something severely lacking in people
> today.
I agree. I was shocked to hear how many of the government workers who were furloughed crying about missing a couple paychecks. People need to adjust their lifestyle to their income.
About 20 years ago I had a job processing loans at a car dealership. It was the poor people with low credit scores that bought the most expensive cars most of the time. I would see Wealthier people with fico scores over 800 that would buy a 4 or 5 year old inexpensive sedan with 60 or 70k miles on the odometer. They usually made a big down payment or just paid cash.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
No longer taught in school
()
Date: January 18, 2019 11:40AM
The education system is failing us at an alarming rate. The only thing schools care about anymore is testing, the test results and how much of a bonus admin gets if the scores are high enough. It's turned into a bonanza if you know how to game the system. You don't have to be that intelligent to figure out that people lie to make more money, so yeah, a lot of the scores are fluffed in order for people to make more money!
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Another viewpoint
()
Date: January 18, 2019 12:05PM
Bank overdraft fees are NOT a tax on the poor. They are a tax on those who choose to live beyond their means.
My company provides services to people across a wide income range for which we expect payment. Our contract says if the customer doesn't pay on time we get to charge late fees. Ideally we would never impose this fee. Like most smaller businesses we impose it as a way to encourage timely payment. Over 90% of the time that late fee is imposed on customers who fit a common profile: They come to us knowing from the beginning they cannot afford to pay us; They hope we fix their problem before we cut them off; and They are betting we won't pursue collections because it isn't worth it. In other words THEY ARE THIEVES.
Being poor sucks. Being poor does not give someone a license to steal from those who have more than them.
My company provides services to people across a wide income range for which we expect payment. Our contract says if the customer doesn't pay on time we get to charge late fees. Ideally we would never impose this fee. Like most smaller businesses we impose it as a way to encourage timely payment. Over 90% of the time that late fee is imposed on customers who fit a common profile: They come to us knowing from the beginning they cannot afford to pay us; They hope we fix their problem before we cut them off; and They are betting we won't pursue collections because it isn't worth it. In other words THEY ARE THIEVES.
Being poor sucks. Being poor does not give someone a license to steal from those who have more than them.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
not this ‘tard again
()
Date: January 18, 2019 12:15PM
Another viewpoint Wrote:
-------------------------------------------------------
> My company provides services to people across a
> wide income range for which we expect payment.
Sorry but selling girl scout cookies on behalf of your daughter doesn’t really qualify as running your own company.
-------------------------------------------------------
> My company provides services to people across a
> wide income range for which we expect payment.
Sorry but selling girl scout cookies on behalf of your daughter doesn’t really qualify as running your own company.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Vats
()
Date: January 18, 2019 12:49PM
Another viewpoint Wrote:
-------------------------------------------------------
> Bank overdraft fees are NOT a tax on the poor.
> They are a tax on those who choose to live beyond
> their means.
>
> My company provides services to people across a
> wide income range for which we expect payment.
> Our contract says if the customer doesn't pay on
> time we get to charge late fees. Ideally we would
> never impose this fee. Like most smaller
> businesses we impose it as a way to encourage
> timely payment. Over 90% of the time that late
> fee is imposed on customers who fit a common
> profile: They come to us knowing from the
> beginning they cannot afford to pay us; They hope
> we fix their problem before we cut them off; and
> They are betting we won't pursue collections
> because it isn't worth it. In other words THEY
> ARE THIEVES.
>
> Being poor sucks. Being poor does not give
> someone a license to steal from those who have
> more than them.
It depends. I was out of work for two months and had plenty stashed away to take care of my bills. An unforeseen medical emergency forced me to shell out $6,000. It fucked my finances up since and I have to go ever draft just to stay afloat. It’s not like the bank is losing money. It’s getting it back as soon as I get paid. I don’t feel it’s right to force people to stay in a vicious circle of financial purgatory. I’m switching of moving to a bank that doesn’t charge such fees and allows me to overdraw.
-------------------------------------------------------
> Bank overdraft fees are NOT a tax on the poor.
> They are a tax on those who choose to live beyond
> their means.
>
> My company provides services to people across a
> wide income range for which we expect payment.
> Our contract says if the customer doesn't pay on
> time we get to charge late fees. Ideally we would
> never impose this fee. Like most smaller
> businesses we impose it as a way to encourage
> timely payment. Over 90% of the time that late
> fee is imposed on customers who fit a common
> profile: They come to us knowing from the
> beginning they cannot afford to pay us; They hope
> we fix their problem before we cut them off; and
> They are betting we won't pursue collections
> because it isn't worth it. In other words THEY
> ARE THIEVES.
>
> Being poor sucks. Being poor does not give
> someone a license to steal from those who have
> more than them.
It depends. I was out of work for two months and had plenty stashed away to take care of my bills. An unforeseen medical emergency forced me to shell out $6,000. It fucked my finances up since and I have to go ever draft just to stay afloat. It’s not like the bank is losing money. It’s getting it back as soon as I get paid. I don’t feel it’s right to force people to stay in a vicious circle of financial purgatory. I’m switching of moving to a bank that doesn’t charge such fees and allows me to overdraw.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
NAL.
()
Date: January 18, 2019 12:54PM
Vats Wrote:
-------------------------------------------------------
> Another viewpoint Wrote:
> --------------------------------------------------
> -----
> > Bank overdraft fees are NOT a tax on the poor.
> > They are a tax on those who choose to live
> beyond
> > their means.
> >
> > My company provides services to people across a
> > wide income range for which we expect payment.
> > Our contract says if the customer doesn't pay
> on
> > time we get to charge late fees. Ideally we
> would
> > never impose this fee. Like most smaller
> > businesses we impose it as a way to encourage
> > timely payment. Over 90% of the time that late
> > fee is imposed on customers who fit a common
> > profile: They come to us knowing from the
> > beginning they cannot afford to pay us; They
> hope
> > we fix their problem before we cut them off;
> and
> > They are betting we won't pursue collections
> > because it isn't worth it. In other words THEY
> > ARE THIEVES.
> >
> > Being poor sucks. Being poor does not give
> > someone a license to steal from those who have
> > more than them.
>
>
> It depends. I was out of work for two months and
> had plenty stashed away to take care of my bills.
> An unforeseen medical emergency forced me to shell
> out $6,000. It fucked my finances up since and I
> have to go ever draft just to stay afloat. It’s
> not like the bank is losing money. It’s getting
> it back as soon as I get paid. I don’t feel
> it’s right to force people to stay in a vicious
> circle of financial purgatory. I’m switching of
> moving to a bank that doesn’t charge such fees
> and allows me to overdraw.
Jesus, you must be poor as hell if shelling out 6000 can put you into financial hardship. Do you have no education?
-------------------------------------------------------
> Another viewpoint Wrote:
> --------------------------------------------------
> -----
> > Bank overdraft fees are NOT a tax on the poor.
> > They are a tax on those who choose to live
> beyond
> > their means.
> >
> > My company provides services to people across a
> > wide income range for which we expect payment.
> > Our contract says if the customer doesn't pay
> on
> > time we get to charge late fees. Ideally we
> would
> > never impose this fee. Like most smaller
> > businesses we impose it as a way to encourage
> > timely payment. Over 90% of the time that late
> > fee is imposed on customers who fit a common
> > profile: They come to us knowing from the
> > beginning they cannot afford to pay us; They
> hope
> > we fix their problem before we cut them off;
> and
> > They are betting we won't pursue collections
> > because it isn't worth it. In other words THEY
> > ARE THIEVES.
> >
> > Being poor sucks. Being poor does not give
> > someone a license to steal from those who have
> > more than them.
>
>
> It depends. I was out of work for two months and
> had plenty stashed away to take care of my bills.
> An unforeseen medical emergency forced me to shell
> out $6,000. It fucked my finances up since and I
> have to go ever draft just to stay afloat. It’s
> not like the bank is losing money. It’s getting
> it back as soon as I get paid. I don’t feel
> it’s right to force people to stay in a vicious
> circle of financial purgatory. I’m switching of
> moving to a bank that doesn’t charge such fees
> and allows me to overdraw.
Jesus, you must be poor as hell if shelling out 6000 can put you into financial hardship. Do you have no education?
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Catch
()
Date: January 18, 2019 01:16PM
NAL. Wrote:
-------------------------------------------------------
> Vats Wrote:
> --------------------------------------------------
> -----
> > Another viewpoint Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Bank overdraft fees are NOT a tax on the poor.
>
> > > They are a tax on those who choose to live
> > beyond
> > > their means.
> > >
> > > My company provides services to people across
> a
> > > wide income range for which we expect payment.
>
> > > Our contract says if the customer doesn't pay
> > on
> > > time we get to charge late fees. Ideally we
> > would
> > > never impose this fee. Like most smaller
> > > businesses we impose it as a way to encourage
> > > timely payment. Over 90% of the time that
> late
> > > fee is imposed on customers who fit a common
> > > profile: They come to us knowing from the
> > > beginning they cannot afford to pay us; They
> > hope
> > > we fix their problem before we cut them off;
> > and
> > > They are betting we won't pursue collections
> > > because it isn't worth it. In other words
> THEY
> > > ARE THIEVES.
> > >
> > > Being poor sucks. Being poor does not give
> > > someone a license to steal from those who
> have
> > > more than them.
> >
> >
> > It depends. I was out of work for two months
> and
> > had plenty stashed away to take care of my
> bills.
> > An unforeseen medical emergency forced me to
> shell
> > out $6,000. It fucked my finances up since and
> I
> > have to go ever draft just to stay afloat.
> It’s
> > not like the bank is losing money. It’s
> getting
> > it back as soon as I get paid. I don’t feel
> > it’s right to force people to stay in a
> vicious
> > circle of financial purgatory. I’m switching
> of
> > moving to a bank that doesn’t charge such
> fees
> > and allows me to overdraw.
>
>
> Jesus, you must be poor as hell if shelling out
> 6000 can put you into financial hardship. Do you
> have no education?
Surveys show 3/4 of people regardless of age do not have even $1,000 saved to cover emergency expenses. You act as if this sort of thing is an exception and not a rule. Most people live like this.
-------------------------------------------------------
> Vats Wrote:
> --------------------------------------------------
> -----
> > Another viewpoint Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Bank overdraft fees are NOT a tax on the poor.
>
> > > They are a tax on those who choose to live
> > beyond
> > > their means.
> > >
> > > My company provides services to people across
> a
> > > wide income range for which we expect payment.
>
> > > Our contract says if the customer doesn't pay
> > on
> > > time we get to charge late fees. Ideally we
> > would
> > > never impose this fee. Like most smaller
> > > businesses we impose it as a way to encourage
> > > timely payment. Over 90% of the time that
> late
> > > fee is imposed on customers who fit a common
> > > profile: They come to us knowing from the
> > > beginning they cannot afford to pay us; They
> > hope
> > > we fix their problem before we cut them off;
> > and
> > > They are betting we won't pursue collections
> > > because it isn't worth it. In other words
> THEY
> > > ARE THIEVES.
> > >
> > > Being poor sucks. Being poor does not give
> > > someone a license to steal from those who
> have
> > > more than them.
> >
> >
> > It depends. I was out of work for two months
> and
> > had plenty stashed away to take care of my
> bills.
> > An unforeseen medical emergency forced me to
> shell
> > out $6,000. It fucked my finances up since and
> I
> > have to go ever draft just to stay afloat.
> It’s
> > not like the bank is losing money. It’s
> getting
> > it back as soon as I get paid. I don’t feel
> > it’s right to force people to stay in a
> vicious
> > circle of financial purgatory. I’m switching
> of
> > moving to a bank that doesn’t charge such
> fees
> > and allows me to overdraw.
>
>
> Jesus, you must be poor as hell if shelling out
> 6000 can put you into financial hardship. Do you
> have no education?
Surveys show 3/4 of people regardless of age do not have even $1,000 saved to cover emergency expenses. You act as if this sort of thing is an exception and not a rule. Most people live like this.
Re: Let’s just call bank overdraft fees and vehicle registration fees what they are
Posted by:
Another viewpoint
()
Date: January 18, 2019 03:54PM
Vats Wrote:
-------------------------------------------------------
> It depends. I was out of work for two months and
> had plenty stashed away to take care of my bills.
> An unforeseen medical emergency forced me to shell
> out $6,000. It fucked my finances up since and I
> have to go ever draft just to stay afloat. It’s
> not like the bank is losing money. It’s getting
> it back as soon as I get paid. I don’t feel
> it’s right to force people to stay in a vicious
> circle of financial purgatory. I’m switching of
> moving to a bank that doesn’t charge such fees
> and allows me to overdraw.
If your bank provided you with Overdraft Protection then the overdraft charges were simply the compensation the bank received in return for letting you borrow the bank's money in your emergency. If you can get a better deal from another bank for what is essentially a readily accessible emergency line of credit, then by all means do so.
Writing checks that bounce is different. When you write a bad check and don't have overdraft protection the bank didn't pay the check and charge you a fee. Your bank returned the check to the payee's bank and charged you a fee for that. The payee's bank then took the money out of the payee's account and charged the payee a fee for that. Your bad check caused the payee to end up in worse shape than the payee would have been in if you hadn't written the check.
You don't feel it is right for the banks to keep you in financial purgetory because of your cash flow problem, yet you have no problem inflicting financial pain on others to try and maintain your standard of living. People get in financial trouble due to circumstances beyond their control. Many companies, mine included, will try to work with their customers who are honest with them up front about their situation. The ones who try to string us along are the ones we turn over to collections.
-------------------------------------------------------
> It depends. I was out of work for two months and
> had plenty stashed away to take care of my bills.
> An unforeseen medical emergency forced me to shell
> out $6,000. It fucked my finances up since and I
> have to go ever draft just to stay afloat. It’s
> not like the bank is losing money. It’s getting
> it back as soon as I get paid. I don’t feel
> it’s right to force people to stay in a vicious
> circle of financial purgatory. I’m switching of
> moving to a bank that doesn’t charge such fees
> and allows me to overdraw.
If your bank provided you with Overdraft Protection then the overdraft charges were simply the compensation the bank received in return for letting you borrow the bank's money in your emergency. If you can get a better deal from another bank for what is essentially a readily accessible emergency line of credit, then by all means do so.
Writing checks that bounce is different. When you write a bad check and don't have overdraft protection the bank didn't pay the check and charge you a fee. Your bank returned the check to the payee's bank and charged you a fee for that. The payee's bank then took the money out of the payee's account and charged the payee a fee for that. Your bad check caused the payee to end up in worse shape than the payee would have been in if you hadn't written the check.
You don't feel it is right for the banks to keep you in financial purgetory because of your cash flow problem, yet you have no problem inflicting financial pain on others to try and maintain your standard of living. People get in financial trouble due to circumstances beyond their control. Many companies, mine included, will try to work with their customers who are honest with them up front about their situation. The ones who try to string us along are the ones we turn over to collections.