Hear Alan Collinge’s idiocy for yourself…
Posted by americandust on January 7, 2008
So I got to hear Alan Collinge’s voice for the first time. He’s a guest on a podcast at http://www.podcastdirectory.com/podshows/1204099
Boy oh boy. Right out of the bat he cites on of the reasons he formed his Political Action Committee was that people had a hard time consolodating thier loans after graduation. See, here’s his faulty thinking: “I need to borrow more money to consolodate my loans, essentially swapping one contract I signed for a longer, more expensive (over-time) loan so I can stay in debt longer, but pay slightly less each month.” Then he whines that companies make money off fines on those that don’t pay their debt back.
We then get his life story… how he borrowed $38,000, consolidated immediately, then made bad decision after bad decision, and managed to grow his debt to $110,000 by defaulting. He’s mad he can’t file bankruptcy (the American Dream: Screwing people out of money you borrowed!) to get rid of this debt. He even says it’s awful that doctors have had to drive trucks to make more money! I guess he doesn’t think much of those of us who drive trucks for a living, or like myself do so in the summer to make extra cash. So not only is he an idiot, he’s a snob.
What he wants is to be able to refinance several times, not just get into one consolodation. So basically, he STILL hasn’t learned his lesson!
In other news, we just paid off one of my wife’s student loans just last month by making monthly payments. We never missed a payment, was never late, and kept our (or I guess, her) word that she gave the lender in the contract she signed. My wife could only afford to go to college by using student loans. The system can work, but you have to be smart enough to know what you are getting into. Alan wasn’t smart enought to read his agreements, much less understand them. He wasn’t even smart enough to read his bill to see that he was being charged late fees for six months straight! Poor Alan. As bad as he is with money, you just know that he’s going to forget to write something down or fill out some paperwork for his Political Action Committee and you just know he’s going to go to jail for embezzlement or tax-fraud because of a mistake. Then we’ll hear his sad, sad prison story and how we need to change the PAC laws to allow for less reporting so people like him can understand it!