2015: The Year in Themes

It’s been quite a year, in court, out of court, blogging, talking, consulting. Since I started putting my thoughts down early in the year a few themes have emerged, themes I’m sure I’ll continue to follow into 2016.

Looking forward to 2016 and many more posts. Happy New Year, and thanks for being a reader.

Contracts, French Meals, Debt, and Groucho Marx

“I don’t want to belong to any club that would accept me as one of its members.” ~ Groucho Marx

Groucho-MarxIf you’re looking for a car, or a student loan, or a credit card, or short term loan and there are investors out there dying for you to take on the debt, you have to wonder why . . . and consider deeply before joining the club.

Look at it this way: You’re walking down the street, hungry, deciding between Five Guys, In and Out Burger, and a couple of decent Chinese food take-out store fronts when the owner of a new French restaurant runs up to you, offers to set you and your friends up with a world famous 7 course meal.

You’re tempted – you’re salivating, in fact – but explain you simply can’t afford it. No sweat, he tells you, 7 courses, a couple bottles of fine wine, all the baggettes you can eat, and a dessert to die for AND you have 90 days to pay the meal off. Continue reading Contracts, French Meals, Debt, and Groucho Marx

P.T. Barnum and Consumer Debt

p t barnum's ill news4-thumb-350x470-17752Most people remember P.T. Barnum for the line – “there’s a sucker born every minute.” Great – if not cynical -line, but Barnum never said it.

I have been thinking of him in a slightly different context lately, however. Over the past two weeks or so I’ve made a series of posts on my Facebook page concerning consumer debt – all of them pretty sobering. Like the New York Times article about car repossessions and military personel.   

I seems that when cars are illegally repossessed by lenders, there is no recourse through the courts. There is a clause in many – many – financial contracts that require all disputes be settled in binding arbitration. Only. Continue reading P.T. Barnum and Consumer Debt