MB Software Solutions General Account wrote: > Leland F. Jackson, CPA wrote: > <snipped> > >> I wish I could help. Perhaps with the election of Senator Obama as >> president, and a stronger majority of Democrats in congress, something >> will be done about the outlandish shenanigans going on in the credit >> markets of this country, especially in home mortgages and credit card >> practices. >> > > > I definitely hope they put some legislation into place to prevent these > outrageous "deliquent" rates of 31%!!!! That's f*cking crazy! If > you're late, ok, penalty and REASONABLE interest, but that's just insane. > > >
Yes, also I hope the bankruptcy law will be changed to provide more protection to ordinary citizen, and less emphasis on helping credit card companies. The current law will not discharge credit card debt in many situations where even a small amount can be budgeted to pay bills. This allows credit card companies to offer cards to everyone regardless of credit worthiness, and once the credit card companies have the victim hooked, the penalties like late fees and increased interest rates take on a life of their own, sentencing the victim to a life of indentured servitude without possibility of parole. If citizens were able to discharge credit card debt through bankruptcy, the credit card companies would be more responsible in offering credit. Allowing citizens to only declare bankruptcy once ever 7 years seem like a reasonable limitation in the protection offered to the card holder. I use credit cards as a matter of convenience, but I alway pay my balances in full each month. Regards, LelandJ > > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
