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There are thousands of things that are rough in life or that can be improved, yet one constant complaint I hear about startups nowadays is that they're solving
by vladd 15y ago
There are thousands of things that are rough in life or that can be improved, yet one constant complaint I hear about startups nowadays is that they're solving web2.0 problems that move text or images from one screen to another.
To fix things, you first need to hear about the process, to learn intricate details about it, how people end up in these situations and what's at stake. Only then you can become passionate about solving issues that don't involve screens, keyboards and mouses. Do we know it's rough? Yes. Do we understand their issues and have ideas how to fix this? I doubt many of us do.
In my country, if you're late for 90 days with your mortgage payment, one specific bank transfers your debt to another entity which sends you a letter requiring you to pay the entire debt within 1 year or they'll foreclosure on you. I wouldn't have found this today if it weren't for this article. And maybe in the future, the dots will connect and this information will help me improve the lives of such people in distress.
- Retric 15y agoThat sounds suspiciously like you have 1 year to either get a new loan or live with zero rent which is not that bad of a deal IMO. Because, your underwater on your mortgage it's free rent, otherwise you should be able to either get a new loan or sell within a year.
- vladd 15y agoIn my country you're responsible with your full wealth for your debt (and there's no personal bankruptcy law - it applies only to businesses). They'll retain 1/3 of your salary until they fully recover the difference, if there's any left after the foreclosure.
- Retric 15y agoOk, that's far more harsh than I was expecting. Thanks, for the clarification the added background completely alters things.
- eric-hu 15y agoIs it all right with you if you share what country this is? What happens if you become unemployed during this time?
- vladd 15y agoThe country is Romania. A draft existed at one point last year ( http://iasiinvest.ro/information-in-english-/31036-personal-involvency-law-adopted-by-senate http://iasiinvest.ro/information-in-english-/31036-personal-... ) but has been cancelled since then. If you become unemployed and no longer have any assets, I suspect the debt still exists awaiting you to become employed again, but I'm not a lawyer.