Whom do you think THIS benefits most?

[TrailbossParticipant 1844]

CREDIT CRUNCH New rules mean credit card customers stuck in a debt spiral could have charges wiped!

Basically, people swimming in debt in the UK can get their debt wiped out with new rules and regs! How nice for the “shopping class”! Addicted to credit cards and charging s~~~! Mostly wimmenz buying shoes and s~~~. I realize, from experience, that s~~~ can get outta hand…using one card to pay other cards and on and on. The debt piles up and your making minimum payments just to get by. Worst thing we ever did was go off the gold standard and move to a credit standard!

New rules mean credit card customers stuck in a debt spiral could have charges wiped

An educated, armed populace cannot be enslaved.

[Anonymous 42]

Oh goody! I can do it all over again and not be held accountable!

ME TOO!

US TOO!

What about me?

Go f~~~ yourself!

[CarnageParticipant 22113]

Wait, Soo I can spend like I’m insane and just walk away?

To those following me, be careful, I just farted. Men those beans are killers.

[xanthineParticipant 4903]

Wipe the debt of the most financially irresponsible and indebted (ie women) credit card users? Hmmm…what could go wrong.

The one thing this article fails to mention is who will PAY for this. The snowflakes living beyond their means? Financial institutions who lend beyond their means? Unlikely. I would bet almost anything they will find some way of sticking men with the bill, just like they always do.

[Anonymous 3]

i owe nothing to anyone. no credit cards. no nothing.
this will open Pandoras box wider than it all ready is

[Anonymous 12]

In a way I think good. The banks and the credit card companies do not behave responsibly either. They offer credit to people without jobs or on low incomes/struggling etc. What do they expect to happen?

These companies want to make profit from people who for whatever reason aren’t capable of paying their debts.

That said, at some point someone has to pay and it will come back on everyone in one form or another.

It would be good if you get one bale out and then you are cut off. But it probably won’t work like that.

[It’sallbsParticipant]

Carnage wrote:

Wait, Soo I can spend like I’m insane and just walk away?

No, it won’t be that simple.

Remember the banks want people to get into debt and borrow and borrow plus their credit rating will be destroyed so the won’t get more cards.

http://www.leavemeansleave.eu

[Faust For ScienceParticipant 22521]

Trailboss wrote:

Basically, people swimming in debt in the UK can get their debt wiped out with new rules and regs! How nice for the “shopping class”! Addicted to credit cards and charging s~~~! Mostly wimmenz buying shoes and s~~~. I realize, from experience, that s~~~ can get outta hand…using one card to pay other cards and on and on. The debt piles up and your making minimum payments just to get by. Worst thing we ever did was go off the gold standard and move to a credit standard!

The lender is responsible for whom the lender lends to.

[Secret Agent MGTOWParticipant 22510]

Just by the title I automatically said women.

No one does s~~~ for the benefit of men.

They will do this for college debt too, most of which is womens debt and because they got degrees (if that) in useless majors.

Women want everything, but want responsibility and accountability for nothing.

[BeerParticipant 11832]

Faust For Science wrote:

The lender is responsible for whom the lender lends to.

When I turned 18 my parents suggested I get a credit card just for emergencies, and to start building a credit history. That was 15 years ago, and if I remember correctly they just handed an 18 year old kid with no cosigner and no credit history whatsoever who had a 7 dollar an hour job a card with a 3000 dollar limit. Doesn’t seem like a large amount but for a kid making 7 bucks an hour working part time that was like 6 months take home, and a year or two later after never having carried a balance, without me even asking, I got a letter in the mail, “Congrats, we upped your limit to 5k!”

Point being, credit card companies are pretty damn loose as far as who they’ll give cards to. They obviously knew when I got my card if they handed out 3000 dollar limit cards to every 18 year old that applied they’d make money off us, so they play the odds and do it. If the odds start to shift because the government makes it easier for credit card users to agree to a set of rules when they sign up for a card and then turn around and walk away from the rules they agreed to and not pay their debts, credit cards will just adjust and it will be more difficult for people with no or lesser credit scores to get credit cards.

Additionally businesses pay credit card companies just to allow its customers to use their cards at said business, and credit card companies get a transaction fee every time you swipe your card, which is why you see places with minimum purchase amounts, and why gas stations have a card price and cash price…so as far as card companies making money they’ll still be making money hand over fist whether the average person has a 15,000 dollar card or a 5,000 dollar card.

On one hand I think its bulls~~~ people can just walk away from consumer debt, but on the other hand in the long run this law will probably just make it more difficult for irresponsible people to acquire as much consumer debt. A bunch of broke single mommies might get to walk away from their credit card debts next week, but 5 years down the road from now all the broke single mommies aren’t going to be able to get credit cards, or are going to have 500 dollar limits if the government makes it too easy to walk away form consumer debt.

[TrailbossParticipant 1844]

It’s not a mystery…credit card companies THRIVE on idiots who make minimum payments! The debt industry are the modern slave masters…they replaced iron chains with the chains of debt! And those new chains are SO much stronger then iron! “A real man pays his debts” type slogans and similar indoctrination keeps the sheeple working and paying and paying and paying…meanwhile…what do big businesses like AIG and Goldman/Sachs do when the debt gets to be too much? They threaten the gov’t with “We are too big to fail” type bulls~~~ and get bailouts….what if We the People get together and say “F~~~ YOU”! and “We aint playing and we aint PAYING anymore”? And “F~~~ those bitches and all their debt”!

What if?

An educated, armed populace cannot be enslaved.

[Author]

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