Re: the trollllssssssssss

Posted by Christy (64.12.116.18) on August 18, 2004 at 01:46:29:

In Reply to: the trollllssssssssss posted by exdebtcollector on August 17, 2004 at 21:30:45:

I have learned a lot from reading people's posts on this forum. While no one twisted anyone's arm to apply for credit, creditors are also responsible for the number of defaults and bankruptcies that are rapidly increasing all over this country. And it isn't just young debtors anymore, but people in all age groups. If creditors were more careful about their criteria for extending credit, most of these defaults would never happen. You can get a credit card if you make just $12,000.00 a year before taxes. That is just $5.77 per hour, 40 hours a week. Even at $18,000.00 a year before taxes, that is just $8.65 per hour, 40 hours a week. Neither is enough to pay your living expenses let alone a credit card bill. Once you get approved for 1 card, 10 more will send you offers. All it takes to default is hitting your credit limit, then an emergency, divorce, illness, lay off, etc., happens and then it all starts. Once someone starts sliding down that hill, they can't seem to find enough traction to even slow their descent. And credit debt that spirals out of control is just like anything else, at first you think you can handle it and you really can't, by this point it is too late. From here, desperation takes over and some people will make really bad choices, like taking on more new debt to pay for old debt and some will become victims of scams and dig themselves an even deeper financial hole. If these people didn't truly have the desire to pay their debts in the first place, they wouldn't have made the mistakes they made that just compounded the problems they had already. By the time they find this forum, they are ready to file bankruptcy, being sued, or already seriously in default. Sitting in judgment at this point is like beating a dead horse, it's cruel and doesn't accomplish a damn thing.

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