Community Forums

WDW · 10-05-2017, 04:56 AM

It’s interesting to watch the local repo man’s yard. Presently there are two new midline trailers. He seems to get between 2 to 5 per month. Never any newer MHs but consistently newer trailers. Order MHs when he gets them.

My view it’s a sign of the working families economy. And that’s not all that great.

Fiesta48 · 10-05-2017, 09:23 AM

People quickly find out an RV is not all fun and a lot of work loading up, going to park, setting up, (TT and popups take the longest), spending just 1-3 days, breaking down, going home, parking, and unloading. Then there is monthly payments even when you can't use it: winter, inclement weather, family problems and soccer weekends. They lose interest and quit making payments.

Gary RVRoamer · 10-05-2017, 09:46 AM

Easy credit but not so easy making the payments. And then they get tired of it, as Fiesta48 describes.

I also think there is a very casual attitude these days about going deeply into debt and just walking away from it when interest wanes.

RKins · 10-05-2017, 01:01 PM

Quote:

Originally Posted by Gary RVRoamer

I also think there is a very casual attitude these days about going deeply into debt and just walking away from it when interest wanes.

I agree. Used to be a pride thing, that you were in control of your finances and wouldn't think about over-burdening yourself. Now, as you say, they just say "Ehhh, no big deal going bankrupt"

bluie5 · 10-05-2017, 02:35 PM

Cars, etc get into accidents or breakdown and some people think it’s easier to let the bank have it than to get it fixed.

Old-Biscuit · 10-05-2017, 02:51 PM

Quote:

Originally Posted by RKins

I agree. Used to be a pride thing, that you were in control of your finances and wouldn't think about over-burdening yourself. Now, as you say, they just say "Ehhh, no big deal going bankrupt"

Which it isn't .....6 months after filing you will start getting offers for credit cause you can't file again for 7 years

89sandman · 10-05-2017, 02:57 PM

Wonder what these people think when the bank wholesales it and sends them the bill for the balance still owed. There should be no such thing as going bankrupt, you bought it, you should pay for it. Even if it takes the rest of your life.

Eagle2mo · 10-05-2017, 03:02 PM

Quote:

Originally Posted by 89sandman

Wonder what these people think when the bank wholesales it and sends them the bill for the balance still owed. There should be no such thing as going bankrupt, you bought it, you should pay for it. Even if it takes the rest of your life.

AMEN!!!!!!

Superslif · 10-05-2017, 03:12 PM

Quote:

I also think there is a very casual attitude these days about going deeply into debt and just walking away from it when interest wanes.

That is why I retired at age 53 last year. Live a debt-free life style.

Many live by the adage of bouncing their debt-load around like a hot potato. At some point it all catches up to you.

I wonder what the re-po man or company does with all the personal property inside a persons RV?

If you have to finance a RV, be it a $8k popup or a $200k monster, make those extra payments. Especially the early years of the loan.

Mr_D · 10-05-2017, 03:12 PM

My credit score is 820+ and I sure wouldn't want to take a hit on it by not paying my bills!

Tha_Rooster · 10-05-2017, 03:14 PM

Same thing happened to the housing market the value went down so they didn't want to pay for something worth less so they let the banks have them.

Hgrace56 · 10-05-2017, 03:25 PM

All these economic factors are controlled by lobbyists now and for the singular benefit of the to big to fail business plan.
Nothing wrong with a personal bankruptcy in a lifetime. Medical expenses are the number 1 cause in America. Not RVs or houses.
It's when billionaires and corporations including banks and oil are allowed multiple repeat catastrophes that we all suffer.

PJStough · 10-05-2017, 03:32 PM

Quote:

Originally Posted by Superslif

...I wonder what the re-po man or company does with all the personal property inside a persons RV?...

Here is what the law in Iowa says regarding cars. I presume it would be the same for an RV.

What if a person has personal property in the car?

Any of the borrower's personal property within the car must be returned to the borrower upon demand. The creditor has no right to require a payment from the borrower for the return of personal possessions.

Tha_Rooster · 10-06-2017, 05:05 AM

I believe bad things happen and people can't pay their bills. But I also believe most don't care and are not responsible enough to take care of their debt.