Overdue Credit Card Bills Hit Record High

[Paco]

Not a huge shocker, especially when a large majority of people refuse to be accountability for the actions:

How can someone blame the price of gas (Other countries in the world pay way more than $3/gal, daily.) for his or her credit problems? If you feel your car is too much of a burden on your pocket book, use your bicycle, feet or bus pass to get around, and live a frugal life (ensure you only purchase that which you NEED) until you've dug yourself out of the hole your in. And when it comes to WANTS, find a honourable way to acquire that which is not a necessity!

[RANT]
I hear and see the word bankruptcy more and more everyday (I am very happy to see the laws in the US are changing and hope the same happens in Canada). Pinheads yakin about how they loaded-up their credit cards with all sorts of unnecessary toys (iPod, Plasma TV, bedroom suit, $350 pair of jeans, $1500 lap dog, porn, yadda yadda), yet I rarely hear how they have had to modify their budget or acquire a second job to pay for their impulsive ways (more like them merely trying to be like Mike, or Paris)!

I am not saying ALL persons that declare chapter 7 or 11 (or whatever the proper form is titled) are doing such wrongfully ... some people do try to live a honourable life, but are not able to get ahead, because of things such as deadbeat husbands etc.

As far as I am concerned, any person that acquires unnecessary goods on credit and declares bankruptcy without returning the goods is no better than a thief!
[/RANT]
Edit: I guess blaming corporate greed is easier than working for or earning your wants.

[Squirt]

As far as I am concerned, any person that acquires unnecessary goods on credit and declares bankruptcy without returning the goods is no better than a thief! I guess blaming corporate greed is easier than working for or earning your wants.

It would be wonderful if those who declare bankruptcy were able to return the good for what they owed on them, unfortunately if they did that, the companies that sold them the good wouldn't have as big a write off as they do when someone goes chapter 11.

Unfortunately in today's society there is a big payoff for credit card company, and corporations, to over extend credit to people. If corporations didn't get write offs for non pays, they'd be much more frugal who they give credit to. If our society didn't put so much value on consumerism and having what you do gives you worth, less people would feel they need those things to be accepted in society.

If we delve deeper into why most people over extend themselves, it's because they are buying things they are conditioned to think they need to have to be a "normal" part of society. If business didn't perpetuate this myth of "consumerism is good" then we'd have far less debt, happier citizens, and less worldwide conglomerates.

Ultimately we are each responsible for ourselves... but it's important to remember that a lot of people work 9-5, or two jobs, believe what they are fed, and act what they are told is appropriate. They are the sheep, and they are being hearded. It's just the way things are.

[jIgG]

if everyone listened to Suze Orman we'd have a lot less people in debt.

[Squirt]

if everyone listened to Suze Orman we'd have a lot less people in debt.

Ah I luv that chick!

[Paco]

It would be wonderful if those who declare bankruptcy were able to return the good for what they owed on them, unfortunately if they did that, the companies that sold them the good wouldn't have as big a write off as they do when someone goes chapter 11.

Unfortunately in today's society there is a big payoff for credit card company, and corporations, to over extend credit to people. If corporations didn't get write offs for non pays, they'd be much more frugal who they give credit to. If our society didn't put so much value on consumerism and having what you do gives you worth, less people would feel they need those things to be accepted in society.

If we delve deeper into why most people over extend themselves, it's because they are buying things they are conditioned to think they need to have to be a "normal" part of society. If business didn't perpetuate this myth of "consumerism is good" then we'd have far less debt, happier citizens, and less worldwide conglomerates.

Ultimately we are each responsible for ourselves... but it's important to remember that a lot of people work 9-5, or two jobs, believe what they are fed, and act what they are told is appropriate. They are the sheep, and they are being hearded. It's just the way things are.

I've worked for many large companies/corporations that gladfully accepted back merchandise, which was then reduced in price and sold ... to people like me.

As for that sheepish comment ... amen brudda ! I must admidt, trend does show me what not to do.