/r/Money keeps coming up in my feed and it's an endless goldmine of poors
Single mother has $3.32 to her name
https://old.reddit.com/r/Money/comments/1awwcfx/32f_single_mother_with_a_9_yr_old_daughter/
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i have a coworker who, the last time i talked to him, had -$62.04 in his checking account
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Bring back debtors prison
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god please
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i dont know what a checking account is but 62$ is nto a big loan most hoeowners have eway more
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mfer living in the stone age
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no im danish our banking system is not based on checkueues , lol but please inform me wtf it is
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it's the term for a bank account primarily used for paying for things. usually your workplace will direct deposit your wage into the checking account and you can either buy things with a debit card linked to it, buy things with a credit card and then pay off the credit card from your checking account, or withdraw cash from the checking account and pay with that
basically this dude was so r-slurred he used all the money in his bank account and went into the negative
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but that is just a loan though?
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sort of, but not in name. banks sometimes offer a service called overdraft protection that allows you to carry a negative balance for a limited time. in return the bank charges a fairly stiff fee and if the balance isn't settled quickly enough they'll just close the account and send the holder to collections. overdraft protection is almost universally a bad deal but poor people fall for it anyway.
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