Welcome to Gaia! ::

I got back from my parents' house this Saturday afternoon, and all I have to say is I am pissed. No, I am not angry at my parents or my siblings, but rather the dishonesty and greed that seems to have grabbed ahold of certain members of the community where they live.

My parents bought a car about ten years ago from a auto dealer/mechanic in the closest town near their farm. It was during a time when the farm was not producing well due to circumstances that were beyond my parents' controll. They needed a vehicle because the farm truck was having problems and Da was using mom's car for the farm business.

Anyway, this guy is supposedly an upstanding member of the community, supposedly an honest guy who wouldn't steal candy from a babe... But in my parents' case he felt it was alright to charge them 125% on their car loan. My father went in and spoke to him after seven years of payments that just kept getting higher and higher and higher, even after the man signed an agreement to abide with the rules of a debt management group my parents had joined to get rid of some of their debt. Just a little over four years ago my Da finally got the man to sign a debt forgiveness paper since my parents had paid the man five times the original debt.

Today, as I was sitting on the train, I get a phonecall from my sister, the one who lives with my parents now. She is all upset and crying, so I can only imagine what was going on with my mother. Apparently the guy is taking my parents to court for non-payment. Not only that, but he has made it known that he wants the farm my great great grand parents started with the sweat of their backs and their bare hands, and he has inflated their debt by 10,000 dollars.

Like I said, I am soooo very pissed. I have spent the past few hours beating sense into a boxing bag.... I am sure my parents will beat this thing, but its the pricipal of the thing... I have half a mind to take out an add in the home news sheet about this man's questionable business practices.

Wow... That is messed up big time. He needs to be sued.

Oh wow. That is really horrible. There are so many people who are losing their sense of justice and fairness... It's all about me, me and me... It's horrible.

I hope the best for your parents. No one should have that happen.

This is not new.

Is it okay to blame rampant capitalism?

EDIT:

InB4 someone says "Obama"

That's messed up and terrible!

Is it right to blame Obama or capitalism? No. The blame sits on that greedy man who keeps raising the payments! He's obviously motivated by greed and doesn't care who is involved or how they get hurt.

I think your parents should take some legal action against him just because if it was agreed to that their interest rates wouldn't rise and it has been, then they need to get it solved before it gets too far out of control!

This is stupid...
Obviously, this guy has not studied enough law behind what he is doing. Infact, he could get in serious financial and authority trouble enough without your parents suing him yet he thinks he has a chance to do that?
What he is asking for is unreasonable enough as it is.

You just need to have your parents go through the documents that has anything to do with this case. Agreements and such. Show the papers and your set. You don't want him to have ANY chance of getting anything. Infact, you should try getting something out of him to teach him not to do this to anyone else.

See that's the thing, a lot of people don't realize what they're signing and don't read the paperwork. I work in the mortgage business and you'd be amazed at the number of things people don't realize they signed.

For instance a good number of mortgages are balloon loans. In other words, they only amortize a certain percentage of the loan over a certain term, after that term, you have to pay the rest of the balance in full. When you're talking mortgages, you're easily talking payments in the tens and even hundreds of thousands of dollars right there. Most of the people that agree to those loans just think 'Ooo lower payments' and don't realize what those lower payments entail even though it's spelled out in the contract.

A lot of people don't realize also that with mortgages, you're signing and agreeing to all sorts charges and inspections that will be done to your property if it goes past due, which will add a hefty fee sum onto your balance due. (And those fees are spelled out in the note.)

I could go on and on about the things people sign without really reading at all, but I'll just leave those two examples.

It's hard for me to say anything without seeing the actual contract.

Constitutional laws state prices that can be assigned for certain things, as well as judges, when it comes to court cases and is measured by the financial status of the offender among other things. An entire farm, their home, is way off. ESPECIALLY for this case.