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Personal Finance Free Press Article

+10
eViL tRoLl
egomaniac
grumpy old man
Triniman
Goth_chic
Miz point
grumpyrom
LivingDead
GGF
rosencrentz
14 posters

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26Personal Finance Free Press Article - Page 2 Empty Re: Personal Finance Free Press Article Wed Apr 21, 2010 6:43 pm

eViL tRoLl


contributor plus
contributor plus

The article is not there anymore. But it seems the banks make it easy for individuals to live beyond their means by giving away credit cards, mortgages, lines of credit to pretty much anyone. This just sounds like an average american.

27Personal Finance Free Press Article - Page 2 Empty Re: Personal Finance Free Press Article Wed Apr 21, 2010 7:32 pm

grumpy old man

grumpy old man
administrator
administrator

The government has just changed the rules by making it more difficult to get a mortgage.

That said, why do we get to transfer our responsibility to the lending agencies? If I borrow there is only one person responsible. Me.

Why would anyone think otherwise?

28Personal Finance Free Press Article - Page 2 Empty Re: Personal Finance Free Press Article Wed Apr 21, 2010 8:01 pm

eViL tRoLl

eViL tRoLl
contributor plus
contributor plus

The title of the article was "Single mom seeks way out of mountain of consumer debt". So the banks gave her a load of credit cars and she abused them and lived beyond her means. Like most americans do ... and there are insolvency and personal bankruptcy procedures to deal with it. And a few years down the road the banks will give her credit again.

29Personal Finance Free Press Article - Page 2 Empty Re: Personal Finance Free Press Article Wed Apr 21, 2010 8:59 pm

grumpy old man

grumpy old man
administrator
administrator

The banks granted her access to the money. They did not force it on her. Personal accountability and responsibility must play a leading role. That banks are culpable but they are not responsible for her debt.

30Personal Finance Free Press Article - Page 2 Empty Re: Personal Finance Free Press Article Wed Apr 21, 2010 9:07 pm

LivingDead

LivingDead
general-contributor
general-contributor

grumpy old man wrote:The government has just changed the rules by making it more difficult to get a mortgage.

That said, why do we get to transfer our responsibility to the lending agencies? If I borrow there is only one person responsible. Me.

Why would anyone think otherwise?

Good thing she borrowed from the bank. The mob is not as forgiving. "Fuck you, Pay me!"