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To: ild who wrote (213061)	1/8/2003 1:28:25 PM
From: Tom M	Read Replies (1) \| Respond to of 436258

>> new government guidelines require that credit card companies stop pursuing delinquent debts after five years<< Anyone help me understand this? If credit card co's can't collect the debt that's owed them after 5 years, this means they'll have more bad debt to write off, and people will obviously start to exploit the situation running up even greater debt planning on default - why is this bullish for CC companies? I don't get it, isn't this just telling everyone to max out all the cards you can get a hold of and just pay the minimum for 5 years? Doesn't this just set up CC companies for unbelievable loss potential? Please anyone, what am I missing here?