Libertarian asked:


Imagine if we abolished the Fed and gave its powers to the Treasury; we wouldn’t have to be charged interest on printed money, we wouldn’t have to be concerned about no audits, we could take our debt owned by the Fed off of the books, and there would probably be less corruption because the Treasury is in the open.

Anyways, anybody know how much debt is owned by Bernanke and the other cronies at the Fed?
Guanajuato- Do you even understand what our Fed does? I’m very far left but this is a serious issue. Our central bank should not be private.

snowrider asked:


I am wondering if it is illegal to impersonate a debt collection company. I have some former roommates that still owe me some money. Can I send them emails asking for rent, pretending to be a debt collector? What if I pretend to be a debt collector from a real company? What if I pretend to be a debt collector from a made up company? What if I also threaten to bring them to court? What if I ask for more than the rent by asking for a “service fee”? Is that extortion or anything?

Thanks!

Molly asked:


The fact that we are living on borrowed money means we really can’t afford our present standard of living. Debt by definition must be paid back. The payments with interest are enormous. Where does this leave the average citizen?

mixed & beautiful asked:


I owe about 2 grand of debt to different debt collectors. I work and attend college like most young adults my age, but does not make a lot of money every 2 weeks. I really want to get rid of my debt but does not know the best way how. What should I do?

stuckinlove asked:


I am working on getting out of debt and am doing okay at it, but I can’t do anything while doing it. There is nothing left to do fun things, and I can’t even date if I don’t have money to go out with. Is it really such a viscous circle?

Eric F asked:


I wonder I always hear on the radio claims that company A reduced my debt from 40,000 to 10,000
How is that possible? And how do these companies make their money?

bloomin73 asked:


Although they advertise free debt counseling, they are a company so they have to make profits but how do they do this? I teach high school business classes and would like a better understanding of how it works.

Krista F asked:


I recently switched jobs making significantly less money. Now I am past due with bills and am getting some pretty rude calls from creditors. I want to pay them but am having a hard time. I have been seeing commercials about debt settlement and needed some help deciding who to go through. I have a little less than $12,000 to pay off. Please site sources when you can and THANKS ahead of time!

Copper fury asked:


If you have under 15,000 worth of debt, but only collect sickness money every month to pay the bills? How much might the monthly payment be after they consolidate ? Will a debt consolidation company help a client of this description ?

stef_leppard asked:


This past summer, a collection agency contacted me in regards to an account with a department store that was paid off in 1993. They told me I still owe on it. I no longer live in the state where the debt was initiated, so which state’s statute of limitations do I use, the state where the debt originated or where I currently live? Telling the agent who calls me that I don’t owe it doesn’t work. They tell me that their client still wants their money. Could this be a scam?