How many Americans with high interest rate credit cards will be willing to stop paying on their card
Looks like a lot will as the CC companies up the screwing ante. Look up "Ann Minch" and debtorsrevoltnow.com
She has gotten a lot of publicity recently -- radio and TV interviews, and YouTube videos.
I think the best way to 'make 'em hurt' is to pay down your cards as fast as possible and close every account. Authors like Dave Ramsey and David Bach have written extensively on how to live a normal and good life without ever using credit cards or needing car loans. Then they can try charging someone else their usurious interest and fees.
How many will be stopping paying on their cards. The answer is those who run out of money, or those who are in debt, or those out of a job, or those who are maxxing their cards to high blazes just to keep a car on the road or keep food on the table...
It's a ticking time bomb. And when it goes, we are going to see more chaos. And then there will be more bail outs.
What's worse than losing your job? Ans = losing your job and having a large credit card debt.
Americans should not stop paying them. They should stop using them. Look, I get it that the credit card companies have done pretty bad for their consumers and they are treating them like cash machines...
But at some point the Americans who have gotten themselves into a situation where they have high balances and no money in the bank to cover them, have to take responsibility for their own actions.
Like a gun doesn't kill people just because someone can put a bullet in it and pull the trigger, a credit card doesn't just rack up charges the consumer can't pay for because it happens to be in their wallet.
Who's fault is it that the credit card company has the upper hand? Who put the consumer in a position to have to answer to a creditor?
by Gary Anderson7 years ago
I just wrote a hub on this, but what I want is to have a discussion here. This is the issue: the senate voted on 5/19 to forbid the states from setting caps on interest rates for credit cards. The injustice of this is...
by Gous Ahmed6 years ago
If you pay off credit cards by getting a loan out, aren't you in the same position still?Maybe a loan won't have interest increase like credit cards, but what is the best way to get out of this situation for good?
by TheWorldNow16 months ago
Why do so many Americans hate America? And if they hate it so much why don't they just leave?One thing that really bothers me is the way some Americans seem to hate everything about America. I'd just like to ask them:...
by Davinagirl36 years ago
My husband and I are looking to buy a house in the upcoming year. We have run into some trouble looking for a lender because our credit is, for lack of a better term, crap! I am looking for ideas on how to...
by Catherine Tally6 years ago
If you found a wallet with $100 cash and credit cards in it, would you return it as you found it?
by ahorseback4 years ago
I don't know maybe it's me but I grew up sort of a patriot , family , friends , lovers or who ever ! Once everyone seemed to love our country ! Since the sixties though , something has drasticaly changed...
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