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Debt Hypocrisy

  1. profile image0
    rb66posted 6 years ago

    I was watching a show where a women was going through a 6 year debt management program to payoff $52,000.00 of debt. During this 6 year period she can't get credit, then she has to go through a 3 year credit rebuilding course.

    The bank that is taking her through this 9 years of hell just rec's 50 billion in bailouts for their blunders in handling credit matters. Plus, the top brass handed out bonuses for doing such a stellar job. We have two standards, one for the average person and another for business.

    Do you think this is hypocrisy or what?

  2. paradigmsearch profile image84
    paradigmsearchposted 6 years ago

    On the one hand, yes.

    On the other, if she was too stupid to file bankruptcy…

    Then again, was she compensated for her show appearance…?

    In general though, yep; I agree with you. smile

    1. profile image0
      rb66posted 6 years ago in reply to this

      The show was Clarke Howard Call In.

      I agree, bankruptcy is a tool provided in this capitalistic system. But the banks, that use these and many other tools,  lay a guilt trip on us while they do what they want. The difference is the banks have the control and make the rules.

      It sure smells like hypocrisy to me...

      1. paradigmsearch profile image84
        paradigmsearchposted 6 years ago in reply to this

        I wrote a rant recently... smile I think you will like the segment as to my opinion about our beloved Corporate America. smile

    2. megs78 profile image60
      megs78posted 6 years ago in reply to this

      sometimes it is impossible to claim bankruptcy.  There are instances when your only choice is to go through a debt rebuilding program. and I wouldn't call it hell, i would call it a hell of a lesson.  just my opinion though.

      1. paradigmsearch profile image84
        paradigmsearchposted 6 years ago in reply to this

        You can file a BK Chapter whatever that would immediately stop the thieving 30% interest rate. smile

  3. paradigmsearch profile image84
    paradigmsearchposted 6 years ago

    Meanwhile, I'm going to check out your auto repairs hub. smile

  4. profile image61
    allenspposted 6 years ago

    Bankruptcy isn't the only solution.  Most people don't know that they can use debt dispute as a way to deal with debt.  A consumer defense attorney should be able to answer your questions about this.

 
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