9 March 2005

The Vig
The Bankruptcy Bill - Digby (the heading is his) here, and Majikthise has wonderful pictures (Doré certainly suits the age). I take this one personally, not because I've filed for bankruptcy, but because I've escaped doing so, narrowly. I was sick a few years ago, could be treated as an outpatient, but I lost work and there were certainly late fees and penalties on what debt I had. I've managed to pay down a couple of those accounts since, even with the sub-market money I make on this gig - what remains still accounts for more than 30% of my income. With this bill, I have zero hope that I'll gain any advantage in interest rates on any debt I retire, and the prospects of any gap whatsoever in employment, or the consequences of another illness or accident, are dire.
And watch out for checking on your credit reports, kids - every inquiry takes points off your score, your own as well as any associated with applications for new credit. I'm in no shape to assume any more credit lines than I already have, and I tear up new card offers fucking daily, some with interest rates that even an idiot would find insane.
See illustration, above.