FreePaul,
Of course banks will send recently discharged debtors those preapproved offers...they know the guy can't file BK for another 7 years!
***Of course banks will send recently discharged debtors those preapproved offers...they know the guy can't file BK for another 7 years!***
Absolutely right! And they also know that someone who has been in bankruptcy may spend foolishly, be unable to pay their credit cards, and therefor be billed for many extra penalties. It's good buisness for the banks.
Don't make sense to me, someone still has to pay the collection fee. (Us) I assume of course, many are lousy money managers, not victims of catastrophic situations.
You are exactly right!! Getting rid of other creditors gives them more money to pay on the new loan, (at a much higher interest rate). Especially if it's a car loan. They have collateral that they can pick up if that loan goes bad.