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To: patron_anejo_por_favor who wrote (86767)3/28/2001 10:37:18 AM
From: Ilaine  Read Replies (1) | Respond to 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.



To: patron_anejo_por_favor who wrote (86767)3/28/2001 10:44:45 AM
From: marginmike  Read Replies (1) | Respond to of 436258
 
I think the law is a travesty. Credit card companies market people to death pushing credit on people who cant handle it. Then they go bankrupt and its completly their fault. I believe regulations for the Banks and their practises regarding providing credit should have been included in the law.


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