During the good times the banks and credit card companies were practically giving credit cards / loans away to anyone with breath in their body, this was greed. Just as greedily they are trying to cut their loses on their own mistakes in anyway possible such as garishing wages forcing honest people on hard times into bankrupcy who otherwise could have worked out their debt.
i know..... lets give the banks more money and maybe they will fix this problem for us. we really need to clean house in the government..
Lets open debtors prisons where people can be sent to work as collection specialist for the collection companies until their debt is paid off. Then again responsible lending would have gone a long way to keeping the number of bankruptcies down.
If anyone remembers, the credit card companies rigged the system in their favor a few years ago. It was called bankruptcy reform. I have to question if the credit card companies didn't actually engage in more risky lending after that passed. Also, does that bankruptcy reform help them collect now that so many people are out of work?
People stop spending money that you don't have. When you spend it up on plastic you have no one but yourself to blame.
This article was pretty interesting. After reading the article about the banks don't have cash money involved in all these transactions...all they have is paperwork, I can see why they make the loans that they do. Doesn't come out of their pockets...it's all government money so why should they worry? And guess what suckers...when these bankruptcies happen, it's the taxpayer that gets shafted again. Anybody looking for a career needs to look into banking. You get a bonus whether you make good decisions or not. What a scam!
Bankruptcies low in states that don't seize wages! Oh, Wow!, Who would have ever thought that might happen? This article is so enlightening.
I wonder if Calif. seizes wages? I seen on TV news last night that Calif. didn't know how they would pay for the Michael Jackson memorial service. They hinted that taxpayers may have to. I have a suggestion. If the Jackson family lives in a "compound" and are going to inherit Michaels assets, let them pay it!!
You can say all you want about big business practices,
bottom line, If you OWE pay.
You borrow you pay.
These companies lend,you borrow, now you pay.
There are no excuses no to.you max out your credit cards,
then blame credit card companies of malpractice.
Quit your Whining and just pay your BILLS.
When people pull credit cards out to pay for something.......I think to myself.......what idiots.
Why don't they pay themselves the intrest ?
And the attitude they have about them........Like it's some kind of good thing.
Addicts .......thats what they remind me of.......deceived addicts.
Credit Cards have become an American Well-fair system...... A nasty one.
My credit is good as cash.
Course.......I'm not sure what the cash represents anymore...LoL
"States that allow debt collectors to seize consumers' wages have sharply higher bankruptcy rates than neighboring states that prohibit or strictly limit the practice, an Associated Press analysis has found."
Wow, who could have predicted THAT??? Brilliant investigative reporting, AP.
netserfern... I won't blame it on obama. I'll just wonder if he's got enough brains to infer from this that taxing the crap out of producers will cause them to STOP PRODUCING.
Where is the bailout for the people? How about 2% interes rate on all existing mortgages, Banks wouldn't like it but it would free up money that could create jobs one of the missing pieces to this equation also the banks would still be making a profit as least this way the People would actuly see a return on all this bail-out money
Don't use credit.
You can blame whoever you want, but it wont fix your problem with instant gratification.
Oh, you don't have a problem with instant gratification?
Then why the heck would you subject yourself to border-line criminal credit terms? Lazy? Forgetful? Somehow, you are to balme, and these @sshole$ are just exploiting your weaknesses. If you can't own up to them, the next fast talker will get you.
They didn;t make people take & use their cards. Is Mcd's responsible for all the fat people. The answer is very gray. Are they wrong to seize assets - yes - most of these companies are part of Obama's Bailout & Bonus Bonanza Plan. So you are actually party to seizing these assets. Up Obama - Up bankruptcy - Up bonus for fin execs - Up 10% unemployed - Up congressional lemmings. Thanks Barack you've shown me what true leadership is all about. You've been able in 8 short months to take a Bush economic disaster and turn it into a total catastrophe. Congrats.
The Mob Mentality is alive and well.
Option 1: If you owe the Don some money... he takes it from you then and there or you fall down some stairs... 7 times (hey, it could happen).
Option 2: If given the chance to pay the Don back, you will pay what you can when you can, making it painful for the Don.
So the Don shouldnt lend to people that have the second option unless he is ready to accept the pain.
It's just business.
I don't like credit cards they get you in too much trouble, well peoples choices on how to use them is generally the fault. However I do realize that people that honestly do right by paying their bills, etc, sometimes fall into hard times. I believe debt collecters are alittle too zealous at times and resort to ridiculous tactics in order to collect a debt, and that at times they are the ones who force people into bankrupcy but I do not think people should resort to it as a first choice or an escape but as a last resort to a REALLY bad situation.
A no brainer. You sieze what little assets I have then I'll have to file bankruptcy to protect those assets. I'm newly divorced and all I have is my car which I still owe 20,000 on. Have no assets so come on and seize :)
It seems to me that if people would work with their creditors rather than ignore them, then the creditors wouldn't have to turn them over to collection agencies. On the other side of the coin, creditors who are so greedy and afraid of losing a penny, who spend $5.00 to collect a nickle by garnishing wages, end up losing more than they gained because some employers will fire a person who is having their wages garnished and no income means no wages to garnish. Everybody loses. Unless the debtor goes on welfare, because creditors are not allowed to touch someone on welfare. I know people who have done this to escape their debts, and are proud of it and also got a way with it.
“shows where obama's loyalties lie. ”
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