Search and Ye Shall Receive: Credit Card Jail, Inflated Salaries, and AP Exams for the Lazy
Author: Nick
Category: Money
Topics: credit, education, search, work
It’s time for a triple dose of Search and Ye Shall Receive. Here are some questions people have recently asked search engines that brought them to Punny Money.
And don’t worry, these are genuine answers, unlike my answers to a certain other set of questions.
Jail for Credit Card Debt?
Will I go to jail if I don’t pay my credit cards? (via Google)
I feel it necessary to reiterate that I am not an attorney, so this is not legal advice. The answer to your question is probably not, assuming you’re in the United States. Now most people would tell you “definitely not if you in the United States” since the U.S. no longer has debtor’s prison. That said, credit card debt can still land you in jail if you misrepresented yourself in any way to the credit card company. For example, if you claimed that you make $100,000 when you really make $15,000 a year in order to get a larger credit line, and then you proceeded to max out that credit line and can’t pay it back, you better hope the credit card company doesn’t find out because lying on a credit card application is a criminal offense.
If you don’t pay your debts and they’re sent to a collections company, you may be threatened with jail by heavy-handed collection agents. These intimidation tactics are illegal. You won’t go to jail simply for having an unpaid debt.
Now for the scary part. Even though there is no debtor’s jail in the U.S. anymore, you can still go to jail for certain unpaid debts, most notably child support and alimony. Thanks to the Child Support Enforcement Act of 1984, you can send your state’s attorney after a deadbeat spouse to garnish wages and tax returns, seize property, and suspend licenses. If these efforts don’t squeeze some cash from your ex, he or she can be found in contempt of court and thrown in jail for failure to pay child support and alimony.
Photo by SantaRosa OLD SKOOL
Pay Keeping Pace With Inflation?
Is my salary keeping up with inflation? (via Google UK)
We recently talked about income vs. inflation for the U.S. in a reader poll showing that less than half of people expect their 2007 incomes to keep up with 2006 inflation (4% for the U.S.).
Now since this search came from the United Kingdom version of Google, it might be more helpful to know the British inflation rate. Over there, the chief measure of inflation is the Consumer Price Index (CPI). As of March 2007, the annual CPI was 2.8%.
So if your British employer didn’t bump up your 2007 pay by a good 3% or so, and you’re not finding other ways to make some extra pounds, you might want to get shirty with your twat of a gaffer and throw a right jolly good wobbler at him so he can see how narked you are.
AP Exams Without Class?
Can you take an AP exam without taking an AP class? (via Google)
Advanced Placement (AP) exams are one of the best ways to get through college cheap. For just $83 (the cost of an AP exam as of 2007), you can test out of an entire college class (sometimes more than one!).
The short answer to this question is yes. There is no requirement that you take a course labeled as “Advanced Placement” before taking an Advanced Placement exam. The longer answer is I don’t recommend it, and here’s why:
- AP classes can be much more challenging than regular or even honors classes. That extra challenge and the additional content you cover in the AP version of a class can mean the difference between a marginal and an excellent score on the exam.
- AP exams have unique formats. Don’t think you can walk in from the street and ace the AP U.S. History exam just because you know your American Revolution. Certain AP exams have question formats you won’t see anywhere else like the dreaded Document-Based Questions (DBQs).
- AP classes teach you how to do well on AP exams. I have seen AP classes that teach exactly the same material as their Honors or Gifted and Talented counterparts with one very important addition–AP exam skills. In my AP U.S. History class alone, we spent no less than four weeks of class practicing DBQs. You won’t get this kind of practice in non-AP classes unless you do it on your own… and kids don’t do schoolwork on their own.
- Your teacher might not appreciate it. If you wanted to take the AP exam, you should have taken the AP class. That’s what the AP class teacher will likely tell you when you ask to take the AP exam with his or her students. The AP class teachers will look down on the fact that you didn’t challenge yourself throughout the year by doing the AP coursework, and they may be more reluctant to help you prepare for the AP exam now.
So if you’re a home-schooled student or carrying an A+++ in your regular classes, AP exams are still an option for you. Heck, they’re even an option for the dumb students too if they don’t mind wasting 83 bucks (but they’re probably bad at math and won’t notice the money is gone anyway).
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34 Responses »
1.
Pam
April 8th, 2007 at 2:44 pm
CLEP tests are the answer for those who would like to test out of college courses but have not taken AP classes. They are subject tests for which the College Board (SAT people, also develop CLEPs) suggest simply studying a textbook on the subject. Price for the test can vary by location. There is a set fee paid to College Board, but the testing center can also charge a fee. Check with state institutions over private, who often charge more. Also check with student’s institution to find out which tests, as well as how many semester hours, are accepted in this way. The foreign language tests alone can gain 12 s.h. with one test.
2.
BD
April 9th, 2007 at 9:39 am
If you had the option to take AP classes and didn’t, you probably won’t do so well on the tests unless you study with someone who did. But if you are well qualified and just coming from outside the AP system, definitely give the AP or IB exams a shot.
I know someone who arrived in the USA after finishing high school out of the country. He got the local high school to let him take the Calculus BC exam with their students and he “studied” for the AP Physics test by talking to his dad for a few hours. The school was reluctant to register him because they thought he’d fail, thereby dragging down the school’s statistics. Instead he aced both tests, went to an ivy-comparable school, and finished with 2 degrees in less than 4 years.
3.
Paige
May 4th, 2007 at 2:50 am
Credit card companies send people to jail for that? How about we send them to jail for issuing credit cards to people who claim to be someone they’re not. Credit card companies don’t even check if those credit card applications are legitimate. And then they act when debts get unpaid? Come on. For example I fill out a Master credit card application, tear it up, put it back together, change the address and mail it back to the card company, I guess you know what happens next. It happened before to another blogger. He got the card!
4.
Rob From My Debt Relief
July 24th, 2008 at 8:06 am
Thanks for a very informative post. I have a suggestion thatwill almost certainly help get your finances back in order.
We’ve found that many of our customers have had great success by applying the snow-ball method to any bad debt.
The idea is pretty simply, yet really effective…
Start of by making a list of all your bad debts with the lowest amount owed at the top. Then put any surplus cash you have at the end of the month into paying back the smallest debt first.
Once this has been settled in full, move onto the next debt on the list, and so on until all your debts are paid off.
It’s called the snow-ball method because once the smallest debt has been paid the extra money you will then have gained gets added onto the next smallest debt.
The effect is like a snow-ball.
Really simple and yet anyone in debt can easily apply it.
Regards
Rob.
5.
jimma
September 19th, 2008 at 1:35 pm
If credit cards are the greatest source of bad debt, auto loans are a close second. You are upside down on the loan the second you drive off the dealership’s lot and it’s downhill from there. Too many people shrug off a car payment as a necessary evil.
6.
Stephen McFarlane
September 25th, 2008 at 12:18 am
That’s great, I never knew that misrepresentation in any way to the credit card companies and up paid debt of credit can send any body to jail…..
7.
Rebecca G
October 15th, 2008 at 9:29 pm
There’s also another good reason to take AP exams without taking the classes. Many schools don’t offer the exams you want to take. If you live in a rural area it can be quite difficult to take advanced classes unless you do a large amount of work on your own. My school offers AP Chem., Bio., U.S. History, World History, and English Lit. and Comp. and it’s considered one of the best in the (rural) area. Unfortunately, this means I must take AP Comp. Sci. A online and study for the “B” part of C.S. AB on my own to take the AB exam.
8.
negotiating credit card debt
July 2nd, 2009 at 11:41 pm
I know someone who came to the U.S. after finishing high school card companies country.Credit not even check the credit card applications are legitimate. And then act when the bad debts get? Come on. For example I fill out a credit card application Master, tear that up, put together again
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August 31st, 2010 at 8:43 pm
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Rose|Credit Card Merchant Account
September 20th, 2010 at 8:03 pm
This is very simple pay your balance every month to avoid problems like huge credit card debt. But if you want to be in jail, then bury yourself in debts.
Rose
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November 16th, 2010 at 2:00 pm
Don’t credit card companies take into account the fact that some people won’t be able to pay back their loans by reflecting the fact in their rates. What’s the problem?
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