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Credit card holders who in ordinary years might have used their tax refunds to pay down their balances apparently spent the money elsewhere as the recession deepened in the first quarter.
That's one of the conclusions that may be drawn from data showing the delinquency rate for bank-issued credit cards rose 11 percent in the first three months of the year, according to credit reporting agency TransUnio.
But beware that if you own a bank account the new bankruptcy laws passed under the Bush administration can make easier for the credit card companies to come back at you and freeze your accounts to get what you own.
Originally posted by Divinorumus
Send these people to debtor prison, ha. You owe, you pay. Stick to your signed agreement, unless your word and honor mean nothing. You don't pay what you owe, then you're no better than a common thief!
Originally posted by Divinorumus
Send these people to debtor prison, ha. You owe, you pay. Stick to your signed agreement, unless your word and honor mean nothing. You don't pay what you owe, then you're no better than a common thief!
Originally posted by GoalPoster
ps . . . the 'popup' that reared it's ugly head when I opened this page was none other than an ad for a Capital One mastercard boasting a swell 'introductory' interest rate of 5.99 percent . . . with guaranteed approval, of course.
Go figure.
[edit on 8-6-2009 by GoalPoster]
Originally posted by Divinorumus
Send these people to debtor prison, ha. You owe, you pay. Stick to your signed agreement, unless your word and honor mean nothing. You don't pay what you owe, then you're no better than a common thief!
Originally posted by jjkenobi
I can understand a mortgage/rent payment and a car payment. Going into debt on anything else is unwise.
Originally posted by jjkenobi
reply to post by Fremd
He's saying if you can't afford to buy it DON'T USE A CREDIT CARD to buy it. Save up for it and then buy it. The USA is sorely lacking in financial discipline. I get so frustrated at people who have optional bills like cable TV, broadband Internet, Cell phone(s), and still rack up credit card debt- and then default on it. It's called sacrifice! I can understand a mortgage/rent payment and a car payment. Going into debt on anything else is unwise.