Sorry I disagree with all the above. I see abuse all the time. I don't care if you get an application a day the devil did not make you do it. Responsibility people Responsibility. If you can not handle credit do not take it. The government is not your mommy and daddy.
At the same time, the government isn't the mommy and daddy of the modern day usurers. If someone is a credit risk, they shouldn't lend to them.
Ah, just the mommy and daddy of the Credit Card and Banking Industries, and any other big business that rolls them over. Blackbird.
"The government is not your mommy and daddy."
Nor is it the parents of the finance industry.
They sould be singing the "Responsibility, people, responsibility" mantra also.
Sorry, even the Republican Party does not agree with you, pal. Politicians in both major political parties are rushing toward the "nanny state."
The massive agriculture bill George W. Bush signed is the greatest example of irresponsible nanny-ism ever created by government. How about the massive pork added to every major bill being passed? The government IS the big giveaway machine.
Not only is the U.S. government the "mommy and daddy" of corporate America, it is the nanny of every third world craphole country on Earth ....including the one now under control of the murdering terrorists of Hamas. I believe the U.S. government gave the Palestinians $400 million last year!
Debtors in the United States just happen to have nothing American politicans want so they get the royal screw job.
Now, if you live in Iraq, there is plenty of free American financial help to go around. I understand much of the American government's "rebuilding" money has been disbursed in cash....billions of it....IN CASH!
The U.S. government has plenty of free money to give everyone in the world except its own most unfortunate citizens.
In fact, most bankruptcies in America are the result of medical bills. Medical bills HAVE to be paid by American citizens but ironically, do not have to be paid by illegal aliens in America, guaranteed hospital care even if they cannot afford any.
That guarantee of free hospital care to illegals is BANKRUPTING MANY HOSPITALS in the Southwest United States. Are those hospitals also guilty of overusing credit cards, too?
That holds true for the lending institutions as well.
If you can not handle credit do not take it.
The inverse holds true for lending institutions; "if they are not credit worthy, don't make offer".
The government is not your mommy and daddy.
Neither should it be a collection agency for the negligent lender. Under the new bankruptcy law, the borrower is not only liable to the lender under contract law but on top of that, the repayment will be enforced by the bankruptcy court. How cool is that? /sarcasm
There are two parties in any credit arrangement. The lenders must also accept losses if they grant credit. Sadly, the CC companies want high risk borrowers so they can charge fees and high interest rates. Miss one payment and your APR become 25%! COngress should never have enacted a civil bankruptcy law that favors one party over the other.
....Responsibility people Responsibility......
You have it corrrect. The logic of many posters would blame McDonalds or Budweiser or Sarah Lee for the health problems of fat people.
The only funny thing on SNL last night was their free program for stopping debt. "If you don't have the money don't buy it!".