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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (86767)3/28/2001 10:37:18 AM
From: Ilaine  Read Replies (1) of 436258
 
As a small business owner, I feel differently about it. I have to write off thousands every year. People file bankruptcy at the drop of a hat, and there are good reasons. If you try to pay off your loans over time, your credit is ruined. If you discharge them in bankruptcy, then you can re-establish credit more easily.

I agree with your general assertion that credit cards are too easy to get and can be very destructive. People who just make the minimum payment on a high interest credit card are basically indentured servants for the rest of their lives.
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