139th Carnival of Debt Reduction: Debtors Prison

Welcome to the 139th Carnival of Debt Reduction, the Debtors’ Prison edition.  We may not have debtors’ prisons any more, but there is still Credit Hell!  According to wikipedia, a debtors’ prison was a prison for those who are unable to pay a debt.  The first category for today are the progress reports of those definitely not headed to debtors’ prisons:

“Prior to the mid 19th century debtors’ prisons were a common way to deal with unpaid debt.”  Sounds scary, doesn’t it?  Fortunately, we have better, non-incarceratory ways of dealing with debt today!

“In the United Kingdom, the Debtors Act of 1869 abolished imprisonment for debt, although debtors who had the means to pay their debt but did not do so, could still be incarcerated for up to six weeks.”  Student loan debt lasts much much longer…

“In 1833 the United States reduced the practice of imprisonment for debts at the federal level. Most states followed suit.”  The state versus federal dynamic in American government makes some interesting legal situations, which brings us to credit cards:

  • Christopher Johnson presents Getting A Handle On Your Credit Cards
  • Maria O’Brien presents Dealing with Credit Card Debt
  • Brice Hogan presents 3 Steps to a Lower Interest Rate
  • Ray presents Debt Reduction With Low Interest Balance Transfer Credit Cards
  • J. Savings presents Budgets are Sexy.: Credit Cards are cool

“The Province of Georgia in the colonial United States, was originally intended to be settled by debtors.”  I found this little tidbit quite amusing!

“Debtors’ prisons varied in the amount of freedom they allowed the debtor. With a little money, a debtor could pay for some freedoms; some allowed inmates to conduct business and receive visitors; others  even allowed inmates to live a short distance outside the prison–a practice known as the ‘Liberty of the Rules’”

Whew!  That’s a lot of quality entries this time around!  I do hope y’all enjoyed the fun with the debtors’ prison theme :) and be sure to read these great posts on reducing or eliminating debt.