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#bankruptcy

1 post1 participant0 posts today
Public *
Maggie Maybe

The Banksters are freaking out.

Every day this week I’ve received an email from Citibank encouraging me to take a cash advance on the credit cards I have with them that I don’t use because the interest rate is ridiculous.

I keep the credit cards I don’t use frozen because Discover card has shown me that if someone is able to get my credit card numbers and use them I will have to pay, so I will not fuck around and find out.

And instead of silently allowing me to use this security feature that they’ve advertised to me to protect myself with I get emails once a week reminding me that I have frozen my cards and telling me that if I’ve lost it I should go ahead and get a new card number so I can unfreeze that card.

NO THANK YOU SKANKS, NOT TODAY CAPITALISM, YOU WILL NOT GET ME TODAY!!

This recession is going to be so interesting. During the last recession credit cards were canceling peoples credit lines because they were afraid they would use them and then not pay, but during this recession they’re trying to talk us into using credit lines we won’t be able to pay for?

This is going to be so interesting. It makes me think they think the #bankruptcy laws will be changing. Why else would they want my disabled ass to take loans on these cards? They know my income. I don’t lie about my income to them because I’m not down with being accused of credit card fraud should I need to do a BK someday.

WHAT IS HAPPENING???

#CapitalismIsAScam#CreditCardDebt#PredatoryLending
Replied in thread
Public
Maggie Maybe

@jerasikehorn.bsky.social this is such an interesting message at a time when I’m thinking about how it’s 2009 again in the US.

I filed a bankruptcy petition halfway through 2009. I was in my mid 30s. I didn’t intend to but the credit card I was using at the time had been at 4% for years and I cranked that balance right up. Then they decided they wanted to change the floor rate because Prime wasn’t working out for them And if I didn’t like that I could close my card and keep it at Prime. Unfortunately I needed that card and once the 6% hit and it revolved a couple times I couldn’t keep up with the minimum payments anymore.

I recommend #bankruptcy if people are drowning in debt, especially if you don’t have stuff they would make you sell to satisfy the creditors. It was one of the best things I’ve ever done for myself, it was discharged in December 09, I had new credit cards by this summer, and before it had been a year my credit score was better than it was before the discharge.

If I had tried to pay it off it would’ve taken forever and any hits for late payments or whatever would have stayed on my credit report for seven years from the date of last payment, the bankruptcy wiped all of that away. If you have late payments on a credit line once it’s discharged those vanish. It was glorious.

(I am not an attorney and it’s quite possible bankruptcy has changed since 2009, but every time someone in my life is drowning in debt I talk about this. Bankruptcy is not shameful it’s literally part of our constitution/Bill of Rights in the US)

Public
DoomsdaysCW

Only one thing is going to stand in Trump's way — and he knows it | Opinion

by Thom Hartmann, April 28, 2025

"It didn’t happen in some shadowy back alley or under the cover of night.

"It happened in broad daylight — in the heart of an American courthouse.

"Federal agents, acting without even the decency of a signed warrant, stormed into Judge #HannahDugan’s courtroom on Friday morning and dragged her away like a common criminal. No warning. No legal process. No respect for the law she had spent a lifetime upholding.

"But they made sure the cameras were there, so America could see what they were doing. Because this was not about justice. This was about terror.

"This was a warning shot aimed directly at the beating heart of America’s judiciary: 'Fall in line — or you’re next.'

"In that moment, the world’s oldest democracy lurched closer to the edge of #AuthoritarianRule. In that moment, America became a little less free — and a lot more like the nightmare #VladimirPutin always hoped we’d become.

"The FBI arrested Judge Hannah Dugan last Friday without even having a legal arrest #warrant; this is as outrageous and #PoliceState illegal as an administration can get.

"And #PamBondi’s performance Friday — after her federal agents swarm-raided this county judge — wasn’t staged for the general public.

"The real audience was a very small, select group: America’s judges.

"Their message is very simple: 'P--- us off, judges, and you could end up in prison, too.'

"Trump has already pacified the Article I branch of government — Congress — and now he’s in the process of pacifying the Article III branch, the Judiciary.

"There are only 3 branches to our government: cowing both Congress and the nation’s Judiciary will leave only the president in charge of the entire country under all circumstances in all ways.

"Nothing and nobody else will be able to stop him, short of a military coup (and he’s already decapitated the senior leadership of the military) or unending demonstrations in the streets (demonstrators who may soon face live ammunition).

"That is called dictatorship. Real dictatorship. Vladimir Putin-style dictatorship where you are punished for the smallest deviation from orthodoxy and can find yourself in #prison or sued into #bankruptcy if you dare speak out in public.

"It appears more and more every day that #Putin is Trump’s mentor, if not his handler. Trump is doing everything he can, with help from a South African billionaire, to destroy the historic American infrastructure (which has been an example for the world for 250 years) and turn us into the newest member of the #dictators club, joining Russia, China, Saudi Arabia, Belarus, Hungary, North Korea, and the rest of the #fascist and #authoritarian world.

"To get there, now that they’ve pacified every single Republican member of Congress (most recently, Don Bacon criticized Trump’s schizophrenic tariffs; a day later he started talking about retiring), they only have to seize control of the Judiciary, and then nothing except We The People will stand in their way.

"Nothing. Will. Stand. In. Trump’s. Way. Except We The People. And he knows it.

"Look at the striking parallels between Putin’s strategies and Trump’s actions:

"From installing Trump’s loyalists in the military and the federal police agencies of the Department of Justice and FBI, to his open threats against freedom of the press, to the GOP’s efforts to rig elections and purge voters, Trump’s subversion of US democracy looks eerily familiar.

"He’s taking pages directly from the autocrat’s handbook.

"Trump has openly quoted and praised autocrats like Putin and Hungarian strongman #ViktorOrbán, who has presented his leadership in speeches to the GOP and CPAC as a model of an '#illiberal' state.

"Trump’s not hiding his admiration for dictators; he’s flaunting it. And now he’s putting the final stages of their script into action.

"Trump’s movement toward authoritarianism follows 'a known playbook. It’s unfolded in many other countries,' as journalist Anne Applebaum notes. 'These are democratically elected leaders who characterize themselves or describe themselves as deserving of no opposition. So I am the true Hungarian, or I am the only real American.'

"In a mere matter of weeks into his presidency, Applebaum says, Trump and his allies “have managed to push America into that space somewhere between (no longer) democracy and full-scale autocracy.”

"The speed is shocking, but it shouldn’t be surprising. It only took #Hitler #53Days to completely end democracy in Germany. Others, like Lukashenko, Orbán, Putin, Mussolini, Duterte, El-Sisi, and Erdoğan took longer (none longer than two years), but you could argue that Trump has been working at this project for 9 years now."

Read more:
msn.com/en-us/news/world/only-

#Fascism #TrumpIsABully #USPol #TrumpIsPutinsPuppet #CharacteristicsOfFascism
#ResistAuthoritarianism

www.msn.comMSN
Public
Miguel Afonso Caetano

"The dominance of US bankruptcy law was not an inevitability. US bankruptcy culture was once unique in the world: after the American Revolution, legislators chose to show mercy to debtors at the expense of the creditors. US statesmen dismissed the traditional difference between laws of insolvency and bankruptcy; creditors were largely powerless to stop reckless debtors from initiating bankruptcy proceedings and receiving a discharge from the state. Today, bankruptcy has generated its own international law. Corporations have ensured that bankruptcy is the most frequently instrumentalized form of forgiveness in increasingly unforgiving zero-sum societies, and bankruptcy harms the cash poor and empowers the asset rich. Those who shape bankruptcy rules establish a hierarchy of contracts and promises, and bankruptcy mechanisms have exposed, often with brutal clarity, who had the power to make or break a contract. How insolvency is then resolved on a global scale demonstrates which contracts and agreements were prioritized after the failure to pay. Considering these norms in a historical light allows us to recover the mission of Latin American jurists to generate a global bankruptcy regime."

phenomenalworld.org/analysis/r

Phenomenal World · Regimes of Bankruptcy | Edward Jones CorrederaDebt and intervention in Latin America
#PoliticalEconomy#GeoPolitics#Imperialism
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