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Time For a Financial Intervention!

by J. Money on Thursday, March 25, 2010

Sad GeorgieI swear, just when you think you’ve heard it all… Remember that chick I was telling you about 2 weeks ago who filed for bankruptcy for a 2nd time in a row, then foreclosed on her house, and THEN went out and blew $250 all in the same night?

Well, she’s at it again.  Her and her drug-dealing husband and baby.  (the husband deals the drugs, not the baby – but again, WTF are they thinking?)

I just got off the phone with the friend who’s relaying all this to me, and these dufuses just put down a contract on another house!!! Within a few weeks of the latest bankruptcy! And get this – they’re buying a Foreclosure! hahahahahahhaahahah….

Seriously, I’ve got to be missing something here.  I mean, first off what bank would grant her a loan for this? And if she’s funding it herself, how is this $ not tied up in the bankruptcies and/or foreclosure?  Either I’m getting jacked up information, or this country really IS the land of the free ;)

If we were running our own reality show, this would be the time for a Financial Intervention, baby!

We’d stake you out, get the camera crews ready, and then BAM!  Sneak up on ya and get your mind right.  With all the advertising our show would bring in we’d even help ‘em pay off all their debts!  Maybe like a “for every month you budget, we pay off $XX for you until you’re all squared away” or something. I doubt they’d listen to random strangers without getting something in return.  But really, as long as we could get them to TAKE ACTION and start doing good again I’d be all for it.

Is there already a Financial Intervention? I know there’s  The Bank of Mom & Dad and ‘Till Debt Do Us Part (hah!), but I can’t say I recall a financial version of Extreme Makeover Home Edition… someone needs to get on that ASAP.  And then pay me for this probably-not-original idea ;)


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{ 20 comments… read them below or add one }

1 Money Beagle March 25, 2010 at 8:15 am

Wow, it’s amazing to hear stories like that. It’s obvious from their financial and personal decisions that they see life as one day at a time with no regard to forethought or planning. This is truly a shame since there is a baby in the picture and this poor child will have to grow up in this environment and be exposed to so many wrong decisions during his/her years where kids learn right and wrong and develop traits that stick with them for the rest of their lives.

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2 Simple in France March 25, 2010 at 8:22 am

Um . . .it’s the bank that needs a financial intervention for loaning them this money. . .and our government probably too for bailing out said bank.

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3 Prince Of Thrift March 25, 2010 at 8:32 am

wow! for lack of a better term/phrase….WTF?!?

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4 kimmie March 25, 2010 at 10:30 am

unfortunately my mother is like this. told everybody she was “just going to file for bankruptcy when i file for divorce” only to learn that not enough time had passed since the LAST time she filed for BK. she’s one of the most important people in my life but i still feel like throttling her on a daily basis! >:(

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5 James March 25, 2010 at 10:59 am

Okay…I hate them already.

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6 J. Money March 25, 2010 at 11:08 am

Yes, but you’d still watch if it were on reality TV! Right? :) We could all yell at the screen together.

@Kimmie – Sorry to hear that :( That adds an entirely new level of emotions to the mix, it’s pretty hard to be mad/un-kind to the person who brought you into this world. I just hope she gets on track for everyone’s sake :) Keep on slipping her the knowledge! She’s gotta learn sometime.
@Simple In France – Haha…that was a good one.
@Money Beagle – Yes, it makes you vomit even more knowing there’s a kid in the mix. There are surely worse things in life to be dealing with, but financially this goes right to the top.
@Prince of Thrift – I should have just titled it that :)

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7 Julie March 25, 2010 at 11:10 am

Larry Winget has a show on A&E television called “Big Spender”. If you’re into watching confrontation, it’s a good show. He’s a guy I’d like to meet personally.

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8 Tea March 25, 2010 at 11:36 am

As to how they are doing this, I think you answered your own question. The husband is a drug dealer. Drug dealers don’t get 1099 by their employers. So they probably have a lot of cash assets that are not being disclosed to the bankruptcy court. The bank hasn’t much to lose if they are putting at least 50% cash down of the purchase price. Before their fourth payment is made, the bank will have sold the loan at a nice profit. Unfortunately, they have figured out how to make crime pay.

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9 Investing Newbie March 25, 2010 at 12:26 pm

I would so watch this show. It would need to be as dramatic as Keeping up with the Kardashians, so you definitely need to get Ryan Seacrest as the producer. And I believe they invented the term SMH for those peeps. But for real, SMH!

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10 Abigail March 25, 2010 at 12:47 pm

Ah, but to make it REALLY watchable, I think we should riff on your phrase, “financial intervention, baby!”

I think, in other words, it should be “baby financial intervention!” wherein the infants/toddlers/preschoolers sit down and verbally bitch-slap their parents’ financial stupidity and explain basic math to them. Like, “If you just declared bankruptcy, don’t buy another house!!!!”

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11 Falling Into Favor March 25, 2010 at 3:09 pm

You gotta be kidding me! I’m wondering do the banks check on things like that? My ex-boyfriend was scared to get a cell phone since he had defaulted on paying his Verizon bill when he was 16! I’d be scared to submit paperwork for another house!

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12 Mysti March 25, 2010 at 3:18 pm

Seriously? I have no idea how any responsible financial institution would allow such a thing.

I would watch Financial Intervention, the reality show. We can combine it with Survivor….the reward challenges can be extra money toward debt. Tribes vote out the most fiscally irresponsible. Works for me.

As for the Canadian show, Til Debt Do Us Part…..I do watch that. I am amazed at some of those people, but I am really doubtful any of them really truly change their ways. I like Gail though. She calls them as she sees them…..

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13 Shelley March 25, 2010 at 6:48 pm

You know that I am partial to “Til Debt Do Us Part” being that Gail is a fellow Jamaican. She does really get on people though. I love to see her give people crap for how they are spending their money.

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14 J. Money March 26, 2010 at 9:32 pm

@Julie – Really? I shall look for it on the ol’ On Demand then, thanks! Seems terribly awesome :)
@Tea – Haha…you crack me up dude. And yes you are probably right…
@Investing Newbie – Sydney Morning Herald? :)
@Abigail – I would pay good money to watch that. As long as the parents weren’t on drugs while the bitch slapping were ocurring ;)
@Falling Into Favor – Haha…who knows anymore. It seems common sense & banking has gone amuck.
@Mysti – That is a brilliant idea! Everyone would WANT to be there so they get all that money we vote over to them :) Genius.
@Shelley – What? She is? That is awesome if you are telling me the truth :) I should email her and ask…but then again, I don’t want to ruin my chances of her doing a Blogger Showdown here… THAT should be a good one!

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15 Smarter Spend March 27, 2010 at 12:24 am

They can pull of an octomom feat and have PETA use them for advertising in return for some money!

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16 J. Money March 27, 2010 at 12:51 pm

HAH! Now you’re talkin’ :) Gotta love advertising…

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17 Shelley March 29, 2010 at 10:50 pm

Yup, Gail Vaz-Oxlade is JAMAICAN BAYBEE! She moved to Canada 3 decades ago, but still goes home. I can hear it in her accent. At first it was throwing me off because she sounded so familiar but I just couldn’t figure it out. Then I could take it anymore because there were words that were unmistakable as a Jamaican accent (money, body, about, dollar) so I had to google her to confirm.

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18 tom March 30, 2010 at 11:41 am

Kinda like Real Estate Intervention for finances.

Ever watch that show?! Freakin awesome! The people are so taken aback by Mike Aubrey’s assessment of their house value it creates some very awkward and funny situations.

This one couple almost quit mid way through the show. Actually kick the cameras out, but the mics were still on. Mike had to say, “well why did you even come on the show?”.

I saw a similar show on either HGTV or DIY TV where they come in and help a family who was in the middle of remodeling, but had to quit due to financial issues. They most often find that they could actually afford to finish, but are terrible at managing money. So they help them finish the remodel and make them completly reevaluate their finances. I think it’s called Home Rules.

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19 J. Money March 30, 2010 at 4:32 pm

@Shelley – Nicely done sleuth!
@Tom – Haven’t even heard of Real Estate Intervention – is something wrong with me? LOVE HGTV though….Have seen Home Rules or whatever that’s called – usually it’s a guy who promised his wife he could do something and then quits in the middle of it :) haha… not unlike myself.

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20 jerry April 1, 2010 at 7:43 pm

Unbelievable that 1) they would even try to buy a new house, 2) that the bank would consider lending to them, 3) that they have a baby and are that messed up (yet, you need a license to get a dog?), and 4) that there is absolutely no insurance that they won’t do the exact same thing. In fact, it’s a pretty darn good bet that this situation will lead to a catastrophe!
Jerry

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