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Prisoners of Debt!

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Anonymous
Not applicable

Prisoners of Debt!

My DH found this article on one of his "daily sites"  Pretty scary stuff!
Message 1 of 5
4 REPLIES 4
SmartCookie
Valued Contributor

Re: Prisoners of Debt!

Interesting read.  I feel bad for those poor people who don't know their rights or how to ensure them back in BK court.  They should be here on the forum.  Smiley Sad 
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Message 2 of 5
Anonymous
Not applicable

Re: Prisoners of Debt!

It seems that CC companies are getting revenge on their debitors by not updating their CRs because they didn't pay back their debts which they only wrote off and/or sold to others for discounted prices.  Yes, there are many debitors at fault for not fulfilling their end of the agreement but they're suffering a set of consequences by spending countless hours filing BK, going to court, ruining their CS for a period of time and going through all the emotions of the ordeal.  
Message 3 of 5
haulingthescoreup
Moderator Emerita

Re: Prisoners of Debt!

All it takes is a big medical problem that isn't covered by insurance, and we'll all be next in line. Notice the familiar names? Cap1, Palisades...
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 5
future
Frequent Contributor

Re: Prisoners of Debt!

thats a good read. it goes to show you how the ccc and ca work hand in hand woth each other.  the truth of the matter is if ever had and debt,and your scores suffered,  and then down the line you recover, they want to try and keep your scores down.  they want  you to suffer , after all this how they make there money by keeping us the consumer down....Smiley Wink
Message 5 of 5
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