Way to stereotype. I am not a conservative. I do not watch Fox news. I think Fox News is a joke. I am not part of the banking industry. I am an artist, in fact, and I think I come from the absolute opposite end of the spectrum. Do I think the interest rates are fair? No. Do I LIKE the banking industry? No. But that doesn't change the fact that one does not HAVE to buy items with credit, especially items they don't need and can't afford. And if they simply MUST make these purchases, then they should be prepared to pay off the debt before those rates come back to bite them in the you know what. I don't understand what the issue is, here. You are beholden to the banks because you chose to be. Medical expenses, of course, are another story. No one chooses to get sick, and no one chooses to lack coverage for said illness. That is a travesty and is unexceptable. Obviously. The people I am referring to are people like me! I judge myself, too! I am one of the many who went to stores and restaurants and charged up major debt and had no way to pay it back. Only time and effort (and one settlement) got rid of my debt. But I'm not going to sit here and say that it's not ENTIRELY my fault that I got into that mess. I knew what the risks were, and I chose to ignore them. Only when I was faced with the collectors and the threats did I realize what a nightmare my life had become, all because of my own irresponsibility. I'm only saying that blaming the banks for your own mistakes is irrational. Work to pay the bill off, if you can (or settle and get the stupid things out of your life foever) and then stay away from credit! You can get angry, call me selfish, sanctimonious, stupid, whatever you want. The facts don't change. You got yourself into this mess when you bought that 65 inch television you couldn't afford.
I think you are both right and you are both wrong. cap1sucks' explanation of how we got in this mess is missing a number of details and seems to be embellishing a few others. The exodus of jobs from the United States is part of the problem, but only a minor fraction of it. Most of the people in trouble now are gainfully employed at salary levels greater then when they first entered the maw of the credit monster. The "man up and pay your bills" is the responsible thing to do. I am strongly in favor of everyone that can possibly do that doing so even if it hurts. If you signed the contract, you should honor it. I'm also against making debtors into a victim group. We have way too many victims in this country now. That said, there are those that did indeed lose all or part of their income through no fault of their own that now find themselves with payments in the thousands per month and no way to cover them. They have legal options as well as being able to use the good advice posted here here to negotiate their own settlements. If they don't have it, they cannot pay it. That is simple math. There is nothing wrong with being conservative, especially when it comes to your money. The view that conservative=bad is what changed me from someone that looks in occasionally to a member.
I could not have said it better myself. I don't understand why we bailed out so many and have not yet helped the average American. Influential and well connected people that allowed this to occur and profited from it are continuing to walk around free and be subsided by us. It's criminal! If they would have counterfeited money they would be in jail-but since they tanked our country in a different manner apparently it's been excused.
Why do Senators,and congressman,Both Dem's and repub take money from the same company.So we have the best country money can buy.Regardless of some of my posts i feel that you should try to pay your debt,but without hassle,threats and needless phone calls.If everyone quit paying the cc companies watch when they quit getting nastyLOL.Sure you credit would take a hit.But the whole economy would go down the drain,if you can't charge it,the stores would take a hit.I don't want to see that.
