No Limits Ladies.com

While E was busy partying it up with her real estate buddies, I was watching 20/20’s Flat Broke in my flannel pj’s with Kleenex stuck up my nose (not that I wanted to fly to Tucson. I’d rather stick my face in a blender than fly with a head cold).

I didn’t feel better after the show ended.

You see 20/20 was telling some scary stories. They told of the Petersons, a family with a big income but even bigger debt. Over $60,000 in credit card debt and a net worth of basically zero. The Petersons are on a spending spree which includes multiple timeshares and taking a family cruise even though they are struggling to pay the minimum balances. They don't seem willing to change (at least not the wife).

20/20 told of debt collectors, a necessary evil (when so many people won’t voluntarily pay their bills), who threaten to throw people in jail (illegal) or tell neighbors (also illegal). One debt collector said that getting a woman to cry was a badge of honor. Yes, getting one of our sisters to cry made his day. Sadistic bastard.

The show talked about Karyn (of www.savekaryn.com ) , one of the first cyber beggars. A woman that begged complete strangers over the internet to help her pay off her shopping habit (which she never really stopped). A woman that now has a book out and has already sold the movie rights. Was she ashamed of begging? No, she was proud of it, calling it “creative”.

20/20 also interviewed David Ramsey who pointed out the trend of people increasing their spending (like the Petersons) right before declaring bankruptcy. What is that, other than theft? Outright and simple? The people have no intention of paying the new bill. Stealing from hard working small business owners and shareholders.

There were also some morsels of wisdom hidden in the hour long gloom and doom show. and I’ll be covering them in the upcoming week.