I must have a million questions by now as to the trials and unorthodox problems that keep occurring in my poverty lifestyle, due to government and political rule. "Arbitrary definition: based on random choice or personal whim, rather than any reason or system." That definition right there is the sole progression for all major globalization effects that create direct and unreasonable problems on all societies containing a financial system. Granted it is the reason for many other problems, like legalization of gay marriage. However, this forum is directed on financial and economic distress. (Though I have much to say on other things relating....hmm I should write hubs...) Anyway, more directly I have a current issue that arose today. I do not make a lot of money, my life is closer to poverty then most. Yes, I have tried several times to change things and for lack of space and time to explain every detail, we will just assume I am a poor schmuck. Though, I have a small credit line with Paypal. And with this little bit of credit, every great once in a while I am able to pay it off. Now mind you I manage my finances to utilized a credit financing option as my use to pay for new things that I might need. Example: the microwave goes out, I cannot afford to buy a new one and pay my bills. So I am "Shit out of Luck" until my Paypal balance is paid enough to get a new microwave. Now here is where the problem arises.... Apparently I have been banned from using my credit for 2 months, due to the fact that the last 2 months I was a little late on my payments. (no one is perfect) When I called to request information as to why this is the case, and why so strict. The answer I received was: "Due to all the government regulations and laws that have been passed recently, from the economy plummeting, we are unable to allow ourselves to be vulnerable to the public and help those who maintain a positive balance." Okay, so I understand the whole..."one person screws it up for the rest" idea. But regardless of who does a good job and who doesn't on maintaining a positive credit with Paypal. Should there be such an arbitrary policy or law in place? Either the person on the other end of the phone was full of crap or the government is making some pretty ridiculous changes. In a nutshell! I cannot use my credit line if I unavoidably make a late payment on it. And Paypal not only gets to take it away from me for a month, but they also get to charge me all sorts of fun fees to make themselves feel good. So whilst I dwell in my poverty and think how can my life get any worse, well ask and thou shalt receive. Your friendly neighborhood government is backing business to allow more fees, more rules, more open information of yours (which could be sold to 3rd parties), and more problems on the directly individual scale of your everyday hard working life. Hmmm unless I am mistaken, which I truly hope I am. This is fucked up! Anyone care to enlighten me a little, due to my severe lack of information in recent political changes?
Unless Paypal is a part of the banking system and subject to its regulations (and it may be) then it's hard to see what govt. regulations could make it withdraw credit based on those regs.
If it is, though, I can very well see how and why those regs might virtually require the withdrawal. The requirements for credit, and what the bank must do to offer it, have tightened considerably.
I do not know the why's and how's as to how PayPal's decision for such regulations came to be, unfortunately. Though I cannot imagine the idea of trying to strengthen society as a whole through greater fundamental punishment as a positive outcome. The greater you push a group into a corner the harder they fight back. All arrangements thus far that have been made to enforce and regulate the economy's well being has been targeted on the lower classes. Unless I'm mistaken, though I live in that class and all it has done for me is make it harder.
I rather doubt that "fundamental punishment" is the reasoning behind either the law or the Paypal decision. Neither the government nor Paypal cares enough about individuals to stoop to such action; rather the rules, wherever they come from, are designed to reduce bad debt and increase profit.
PayPal is the Credit Service not the lending institution. The lending institution is Comenity Bank a subsidiary of Comenity LLC based in Columbus, Ohio. Unfortunately I am not a banking / credit whiz nor an economist. However, maybe this will help with understanding . . . link to PayPal Credit Terms. Consider those terms are prescribed by the lending institution as that is where the credit comes from.
In other words as an example if one defaults through the U.S. Bankruptcy system the banking institution that would be filed upon would be Comenity Bank not PayPal Card. The name PayPal Card is a privilege offered through a business / financial arrangement / agreement between Comenity Bank and PayPal, which provides PayPal with a service to its customer / client base.
For the sake of interest a peek at the following link offers seeing all the many credit cards like PayPal financed by Comenity Bank.
http://www.creditcardcatalog.com/credit … bank-wfnnb
The economy is false & made up BS, & designed so that they can control all of us..Steal the land & everything on it "from" the people, then get them grafting like slaves building their palaces & castles etc so they can have a tiny piece back!..I mean come on folks who's land & resources is it really?, & how can an economy crash over night?..I mean what has "physically" happened when they intentionally crash the stock market etc, nothing apart from they've made it crash..The same machinery resources etc that we're there before a stock market crash, will be there the next day..The only thing that's really happened is that "they" crashed it for more control over us, & then they come up with a great plan to save us all!lol..Your all working for bits of worthless paper, & they brought all the gold back with more bits of worthless paper that they invent to keep you working..Now there's bound to be some financial expert (brainwashed ego), that's going to try to explain to me that the economy is actually real & that I'm wrong..Well here is what's going to happen once your economy like Britain's crashes into a depression, the very people that did it intentionally to us will then come up with a "new great idea" to save us all..The credit era where no physical money exists where they can just take what they like of you (micro chip your kids!), & the final "sell off" of the states & uk into private corporations hands..Your country like ours is a business a PLC, & their selling it all to their business buddy mates..They have to keep us working for their plan to work, & so they have to keep us poor.
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