General > General Technical Chat
Cashless Australia
Simon:
--- Quote from: blueskull on March 13, 2021, 10:05:32 am ---
--- Quote from: NANDBlog on March 13, 2021, 09:45:25 am ---They send out thousands of traffic violation court verdicts per day. Together with fines. From the speeding cameras.
--- End quote ---
What if you don't pay? Will you come to your bank or your house and rob your money?
--- End quote ---
Usually debt collector companies are employed, you will probably be paying for their fees as well. They can take your goods away from you but there is a bare minimum that cannot be taken away as essential items like a bed or cooker. This is standard practice in many countries for any form of debt. This is done though under a court order, it's not a free for all, it's the last resort as it's the most expensive payment processing out there to convert the goods back to money.
I invest my money with peer to peer lending. Often a company owner/director will forfeit the advantage of the separated finances between company and personal and give a personal guarantee of repayment on a loan that the company alone did not have the collateral for. Yea, I've cast my vote in the past to seize the family home of the deceased director when the loan defaulted and the wife is protesting on emotional grounds to keep possession of a house worth so much it could be sold to pay off the loan and buy a smaller house. I suspect that if she still refused to budge some sort of enforcement would be employed to remove her.
Halcyon:
--- Quote from: blueskull on March 13, 2021, 10:39:36 am ---
--- Quote from: Simon on March 13, 2021, 10:16:03 am ---They can take your goods away from you but there is a bare minimum that cannot be taken away as essential items like a bed or cooker. This is standard practice in many countries for any form of debt.
--- End quote ---
That is exactly my point. Trusting the bank and the "system" does not mean you will get f*ed if you go bankrupt.
--- End quote ---
The other consideration is, if you're facing bankruptcy, one should take a good long look at themselves. The individual is almost always to blame, not someone else. Its a tough lesson to learn, but not one that doesn't have light at the end of the tunnel. Bankrupt does not equal homeless, nor does it equal unable to live. In fact, personal insolvency rates in Australia fell by over 23% in 2019-2020 across all states and territories. It's as low as it has been since around 1999-2000. Once the stats come out for this current financial year, I reckon we'd be looking at instances not seen since the early to mid 1990's.
https://www.afsa.gov.au/sites/default/files/annual_personal_insolvency_summary.xlsx
cdev:
Here in the US it varies from state to state. Debtors prisons are coming back in a big way. Generall they want debtors to sell off all fungible assets.
Any car or real property definitely gets taken unl;ess they are in Florida or Texas where all kinds of crooks get to keep up to $10 million in a house. They cant touch it. Then they can sell it later. .
--- Quote from: blueskull on March 13, 2021, 10:39:36 am ---
--- Quote from: Simon on March 13, 2021, 10:16:03 am ---They can take your goods away from you but there is a bare minimum that cannot be taken away as essential items like a bed or cooker. This is standard practice in many countries for any form of debt.
--- End quote ---
That is exactly my point. Trusting the bank and the "system" does not mean you will get f*ed if you go bankrupt.
--- End quote ---
It seems likely to me whenever the kleptocracy is rising globally as it is today.
cdev:
They impound cars off the street for unpaid parking tickets. They have an automated OCR car plate reader running all the time digitizing license plates seen by the car and running queries on each of them automatically If they get a hit on any of them they call the tow truck to go get it.
--- Quote from: bd139 on March 13, 2021, 10:15:12 am ---
--- Quote from: blueskull on March 13, 2021, 10:05:32 am ---
--- Quote from: NANDBlog on March 13, 2021, 09:45:25 am ---They send out thousands of traffic violation court verdicts per day. Together with fines. From the speeding cameras.
--- End quote ---
What if you don't pay? Will you come to your bank or your house and rob your money?
--- End quote ---
In the UK they come to your house and take your stuff eventually. That’s a cashless transaction too! :-DD
--- End quote ---
coppercone2:
it sucks, those machines have problems. cash is great you have 200$ in your pocket you can do anything you want even in the worst situations.
power outages? network problems? equipment malfunction? simple trade and garage sale? no problem
its like apple, they try to make everything skinny and fit into skinny jeans
the only thing I see when someone is trying to push cashless is some high level bullshit artist telling me how reliable the machines are and that they never heard of a complaint and that its perfect :palm:
cash is how you don't get mauled by the shops. yea when you buy lunch and you got cash in your pocket you won't do anything stupid because you feel it going down instead of thinking 'whats another couple of dollars'. whos going bankrupt now? usually people that spend way too much with plastic... try pulling a dollar from someones hand
What happens when you go to the bank? you start thinking about money and where you stand, its a reminder. credit card use is practically like a day dream.. where did that $300 go?
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