Agreed. Rather than hiking the rates, it would seem to me that helping with a payment plan and freezing any further use of the card would be a more reasonable approach, and one more likely to get them their money back.

Quote:

Once a card holder realizes he\she cannot see a point of closure at a definite point in the future there is NO reason to keep paying , is there. What's the Point in living a Spartan existence and doing "Without" if it is never going to get any better??.......s.kuteman

Of course there is, the reason is YOU OWE THE MONEY.

What's the point? Maybe because YOU signed a contract to do so, YOU made the purchases to get their, it's YOUR debt, and it's YOUR responsibility.

Imagine if a child could be viewed as a mistake and too expensive and a person could simply file "Chapter 101" to make the kid go away and let them go back to their care free lives, would that be an option people would consider?

I view debt the same way, you signed on the line, it's your problem till you die, I don't care if your life "sucks" because of it. TOUGH.

I hope I never get to that place where's there's no light at the end of the tunnel, and I make a concerted effort to ensure that it doesn't, I live debt free. If it were to happen, I'm confident I'd take my lashings before I passed them to someone else.

Kannata

 

My sentiments exactly.

 

Exactly! Life IS tough. Sometimes you get the bear; sometimes the bear gets you. But in this instance, he CHOSE to invite the bear in.

 

"Exactly! Life IS tough. Sometimes you get the bear; sometimes the bear gets you. But in this instance, he CHOSE to invite the bear in."

Exactly- life is tough for lenders cause bankruptcy is allowed by law weather you guys like it or not.

Maybe lenders should not lend their money to such risky people if they don't like it.

And lenders themselves do go bankrupt from time to time.

 

Right, it's the lenders fault. Give me a break. That statement sickens me.

 

Copy that.

Kannata

 

I'm with YOU HB...

sounds like blameshifting, lack of personal accountability...

Adultery is NOT against the law either, but I don't want anything to do with that or other "legal" activities like lying (unless under oath), or cheating, or messing over your best friend...the list goes on and on.

What happened to good ole' fashioned honesty and integrity???
Don't answer that...I already know the answer...

Just 'cause something is legal doesn't mean it's (morally) right to do it...

Scott

 

I guess it all depends on what you decide your morals by.

I think the Bible mentions usury as being a bad thing.

Converting the masses into your slaves by lending them a few bucks just seems wrong also.

 

Not repaying a loan is theft. I don't think the moral line between black and white could be any more clear.

Enslaving yourself by borrowing money you know you can't repay is what's wrong, not lending it.

Kannata

 

Bingo!!

No matter how hard you try, you cannot pin this one on the lenders.

 

Had to look up "usury" - the definition I found @:

http://atheism.about.com/library/glo...ldef_usury.htm

states it is "an older term for the idea of earning interest on money, and is prohibited or at least limited in Jewish, Christian and Muslim scriptures."

There seems to be much focus on the perceived "evil" displayed by credit card companies for charging interest on loans.

question: How else are they going to pay their overhead and stay in business if they don't charge interest on their loans???

Imagine borrowing hundreds of thousands of dollars to buy a house with an interest-free loan! That'd be GREAT for the borrower, but as a lender, I think I'd be hesitant to tie up that kind of money for years with nothing to show for it in return!

Come on guys...if you're big enough to borrow money, you're big enough to pay it back...and I'm not talkin' about the ones who ended up in a bankrupt situation through no "foreseeable" fault of their own.

To run up debt carelessly (like there's no tomorrow) is NOT an excuse for filing bankruptcy! And it ain't the lender's fault that your short-sightedness put you in that situation. I'll bet if hard jail time were the consequence of filing bankruptcy, there'd be a WHOLE lot less bankruptcies being filed!!!

Kinda like any crime...if murderers were hanged by sundown, there'd be a lot less murdering goin' on! Our justice system has gotten WAY too soft...those Enron execs should've been stripped of EVERY dime they have and the money redistributed to those who lost their pensions/life savings!!! Instead, they'll plea-bargain, serve a few years in minimum security "Club-Fed" then retire VERY wealthy men...hardly worse for the wear...but they'll still have their financial security - that wreaks of injustice!!!

Whewww...stepping down off the soapbox now...

 

................Everybody is entitled to their opinion. You folks who think that you are impervious to the effects of Murphy's law had better not taken your selves completely seriously. The Law of Unintended Consequences also comes into play and applies to all of US, even those who think you have built a No debt wall around themselves. Everybody starts out thinking they will always beable to Repay their charges. Life has a very cruel way of taking our well designed plans and smashing them to bits. So, I wouldn't assume such a Hard *** attitude toward all us White Trash about choosing Ch.7 as a viable course of action.
...............Walking around on Stilts and condemning all the folks living their lives at ground level is a very risky attitude at best in my opinion. If i get zapped for stating my opinion I guess I'll pay the price. .....s.kuteman

 

Why bankruptcy instead of debt consolidation?

 

You and me both. Talk about not taking responsibility for one's own actions. This is a perfect microcosm of what is wrong in today's society,. It's ALWAYS someone else's fault.

 

well I think we should find this 'Someone else' and deal with him in a proper manner.lol