Good News! All your Credit Card debts will hereby be forgiven !

[kentuck]

All the Credit Card companies are lining up to ask for a bailout even as we speak. Not just on the delinquent cards, but on all their credit card debts. That means that you owe no more money on your credit cards and you can now stop making those monthly payments. This should be a great spark to getting our economy re-started. Don't you feel better now??

Just kidding folks! I hope?

[HeraldSquare212]

1. It's funny how they pushed for a new bankruptcy bill to stop people from evading cc debt

and now they're begging to be allowed to take another tack.

[acmavm]

4. This is interesting. They charge interests rates that amount to

usury, and you work harder cancelling a credit card than you would clearing all the brush on bush**s pig farm. Oh well, they must feel the time is right.

[MiniMe]

11. And raised the minimum payments at the same time

They got themselves into it with the low payments, then raised it so people can't afford the new payment amount on the same balance. Then they jack up the interest on it. I'm in the middle of that right now. I have been cash only for about a year now, but I can't get away from the credit card debt, and I can't afford to pay any more than I do on it because of the inflation on everything else. Personally, I don't want my debt cancelled. I spent it and I owe it, but I would love to have a reasonable interest rate and affordable payments.

[Bobbie Jo]

2. Riiight.

Not only will they get my tax money, they will continue to collect from me directly every last dime. Sorry...this belongs in the 'when pigs fly' category IMO. I've seen these vultures in action far too long.

[grasswire]

3. I feel like a schmuck.

Those of us who have studiously avoided consumer debt and mortgages and cars are the ones paying the penalty, apparently! We've got nothing to show for our sacrifice, while those who ran up the charge cards and lived higher on the chain get to keep everything and have their debt assumed by taxpayers.

Schmuck.

[kentuck]

8. The only problem is:

No one will ask for proof of how much is owed? And the Credit Card companies will continue to suck the last dime out of the suckers with 27% interest rates - even though they are asking to be "bailed out" for those debts also, if the truth be known?

[rucky]

10. If it makes you feel any better...

a good chunk of personal debt comes from hospital bills.

[wryter2000]

12. I hear you

I've avoided credit card debt like the plague. OTOH, I have a mortgage I can just barely afford. I did the smart thing and got a 30 year fixed at 6% interest and have worked my butt off to make all the payments on time. I get nothing out of any of this.

Oh the other, other hand, I can sleep at night. I wouldn't trade my situation with someone who's in trouble now.

[tabatha]

5. Damn - I never build up debt.

[Idealism]

6. Shouldn't this post start "Hello, I'm a foreign prince from Somali..."

[stray cat]

7. definitely good for the economy but too bad for fools who are not in debt

[kentuck]

9. Please read the edit on the post.

:-) I know it is easy to believe anything in this mess.