Comments on: Chasing Customers to Bankruptcy http://www.joetaxpayer.com/chasing-customers-to-bankruptcy/ Financial Commentary For The Average Joe Thu, 09 Feb 2012 00:23:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: JOE http://www.joetaxpayer.com/chasing-customers-to-bankruptcy/comment-page-1/#comment-3237 JOE Thu, 26 Feb 2009 00:35:37 +0000 http://www.blog.joetaxpayer.com/?p=1020#comment-3237 For every person who spent $2000 on credit to buy the big TV, there's a guy who charged a $2000 medical bill, working, but for a company with no insurance. So I have a tough time making any generalities. Are most debtors irresponsible? Maybe. Is it half? I really don't know how the numbers fall. When I hear people talk about their bills, I should ask, "did you fall on tough times, or are you an idiot"? For every person who spent $2000 on credit to buy the big TV, there’s a guy who charged a $2000 medical bill, working, but for a company with no insurance. So I have a tough time making any generalities. Are most debtors irresponsible? Maybe. Is it half? I really don’t know how the numbers fall. When I hear people talk about their bills, I should ask, “did you fall on tough times, or are you an idiot”?

]]> By: John http://www.joetaxpayer.com/chasing-customers-to-bankruptcy/comment-page-1/#comment-3224 John Tue, 24 Feb 2009 17:21:42 +0000 http://www.blog.joetaxpayer.com/?p=1020#comment-3224 While I would agree that changing their rates for someone that is already signed up and struggling to pay the bills may not be a good thing to do, people really need to change the way they operate. Credit cards should not be used unless it is an emergency. Instead they should save up for something before purchasing it. Its really sad the way our culture has become, instead of waiting for things and earning them people feel they are entitled and go out and get it right away. I use my credit card regularly which can be a good idea if regulated and even provide a benefit(free miles or some other reward system as well as 30 more days until you have to pay it off thus earning slightly more interest), however, I also pay off the credit card every month. I live by the adage that if I couldn't withdraw enough cash from my account(I tend to not carry much cash) to pay for something then I will not buy it (house and car being the exceptions). So while the banks are definitely to blame, people need to look in the mirror as well when assigning blame. While I would agree that changing their rates for someone that is already signed up and struggling to pay the bills may not be a good thing to do, people really need to change the way they operate. Credit cards should not be used unless it is an emergency. Instead they should save up for something before purchasing it. Its really sad the way our culture has become, instead of waiting for things and earning them people feel they are entitled and go out and get it right away. I use my credit card regularly which can be a good idea if regulated and even provide a benefit(free miles or some other reward system as well as 30 more days until you have to pay it off thus earning slightly more interest), however, I also pay off the credit card every month. I live by the adage that if I couldn’t withdraw enough cash from my account(I tend to not carry much cash) to pay for something then I will not buy it (house and car being the exceptions).
So while the banks are definitely to blame, people need to look in the mirror as well when assigning blame.

]]> By: Augustine http://www.joetaxpayer.com/chasing-customers-to-bankruptcy/comment-page-1/#comment-3222 Augustine Tue, 24 Feb 2009 16:09:55 +0000 http://www.blog.joetaxpayer.com/?p=1020#comment-3222 I say shame on those racking up debt. That's what happens when one puts himself in the hands of a lender, be it a bank or a loan shark. Since this generation chose to shudder at the wisdom of our grandparents, let'em learn the hard way. It's their choice. Grow up. I say shame on those racking up debt. That’s what happens when one puts himself in the hands of a lender, be it a bank or a loan shark.

Since this generation chose to shudder at the wisdom of our grandparents, let’em learn the hard way. It’s their choice. Grow up.

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