this is an open discussion forum. keep it clean. personal attacks on private citizens will not be tolerated. you may discuss politics if you like but you may not rip or endorse specific local candidates.
Thursday, February 21, 2008
how do you feel about this nation's bankruptcy laws...
too strict?
too lenient?
does bankruptcy carry too much or too little social stigma?
6 comments:
Anonymous
said...
there was a time when a person would be ashamed to file for bankrupcy. thats not true anymore, the average person has seen what the credit card companies have done to the youth of society. the banks that charge larger rates for those that are late 5 times in a 60 month period because they weren't born with a nest egg like most of the bankers
A cycle. When everbody has bad credit they will rewrite the book and start over again. The best method is use credit to buy a home only. Save to buy whatever else you need. A car is a bad investment. Drive what you can afford and rent a car for trips.
So a young person gets a credit card by piggy backing on their parents credit, spends more money than they make, and it's the credit card's fault? I wan't born with a nest egg and have never made a late credit card payment. My parents didn't give me a nest egg, but they did give me some self discipline and financial common sense. And most credit card companies give you a one time late penalty grace period per year, so 5 times in 5 years is not why your rates are high.
Here is some 3000 year old wisdom from what some call an old outdated book:
Proverbs 22:7 "The rich rule over the poor and the borrower is slave to the lender."
So there you go; if you're in debt you are a slave. That's right, a chunk of your income is benefiting someone else. You are literally working for someone else.
My advice for those in debt is to seek wisdom. But, there has to be a change of heart and mind usually before that happens......
6 comments:
there was a time when a person would be ashamed to file for bankrupcy. thats not true anymore, the average person has seen what the credit card companies have done to the youth of society. the banks that charge larger rates for those that are late 5 times in a 60 month period because they weren't born with a nest egg like most of the bankers
A cycle. When everbody has bad credit they will rewrite the book and start over again. The best method is use credit to buy a home only. Save to buy whatever else you need. A car is a bad investment. Drive what you can afford and rent a car for trips.
So a young person gets a credit card by piggy backing on their parents credit, spends more money than they make, and it's the credit card's fault? I wan't born with a nest egg and have never made a late credit card payment. My parents didn't give me a nest egg, but they did give me some self discipline and financial common sense. And most credit card companies give you a one time late penalty grace period per year, so 5 times in 5 years is not why your rates are high.
If your outgo exceeds your income, your upkeep will be your downfall.
Here is some 3000 year old wisdom from what some call an old outdated book:
Proverbs 22:7 "The rich rule over the poor and the borrower is slave to the lender."
So there you go; if you're in debt you are a slave. That's right, a chunk of your income is benefiting someone else. You are literally working for someone else.
My advice for those in debt is to seek wisdom. But, there has to be a change of heart and mind usually before that happens......
World Of Warcraft gold for cheap
wow power leveling,
wow gold,
wow gold,
wow power leveling,
wow power leveling,
world of warcraft power leveling,
world of warcraft power leveling
wow power leveling,
cheap wow gold,
cheap wow gold,buy wow gold,
wow gold,
Cheap WoW Gold,
wow gold,
Cheap WoW Gold,
world of warcraft gold,
wow gold,
world of warcraft gold,
wow gold,
wow gold,
wow gold,
wow gold,
wow gold,
wow gold,
wow gold
buy cheap World Of Warcraft gold b3d6f7al
Post a Comment