Comments on: Credit Card Chargeoffs vs Exhaustion Rate

By: Alessandro Machi

Alessandro Machi — Fri, 26 Jun 2009 13:43:00 +0000

Manhattan Guy, your fast food analogy is out of context. You have oversimplified the situation.

One can choose to no longer eat at a fast food place, but one can’t choose to pretend they don’t have debt, unless they file for bankruptcy.

Credit Card companies can make more money faster by defaulting their best customers then they can by helping them. Chase bank credit card division should be investigated for treason against the american citizen, probably Chase bank as well for rejecting so many home applications but keeping the fees they charged for the applications. Undervaluing home equity lines. Freezing home equity lines.

If the underpinning motivation is the desire to drop the credit scores of many people as fast as possible, then trying to pin the blame on the consumer is ridiculous.

Not being able to OPT OUT of a CHANGE IN TERMS from a pre-existing agreement spits in the face of what it means to be free.

http://www.daily-protest.com

By: Unemployment claims are up again. - Business, Finance, and Investing - City-Data Forum

Fri, 26 Jun 2009 11:08:55 +0000

[...] you might also want to look at the credit card chargeoff rate versus the exhaustion rate:Credit Card Chargeoffs vs Exhaustion Rate | The Big Picture [...]

By: Wes Schott

Wes Schott — Fri, 26 Jun 2009 02:43:26 +0000

0k, more of this nafmbla,

or whatever,

come on this is TBP,

By: Christopher

Christopher — Fri, 26 Jun 2009 02:35:12 +0000

When is it bedtime at Michael Jackson’s NeverNeverLand??

When the big hand touches the little hand.

By: call me ahab

call me ahab — Fri, 26 Jun 2009 02:03:28 +0000

manhattanguy-

I have to side with Alessandro- banks are the experts- they are always at fault when it is between the citizen and the bank-

the banks are always going to work it so they come out on top- regardless of the circumstances- and that they have been the unprecedented beneficiary of USG largess- than the banks have been sponsored by the very people they are trying to fuck-

doesn’t hit me as right- full disclosure- I carry no credit card debt and my mortgage is almost ZERO balance- so I have no ax to grind- but do not think it fair that people’s terms are changed mid-stream

By: manhattanguy

manhattanguy — Fri, 26 Jun 2009 01:56:58 +0000

This is synonymous to blaming fast food giants on your health problems. If you are concerned about fat food, why do you bother going to McD in the first place. Why blame food companies that make processed food? You know its NOT food, but its made of food “like” substances. As a consumer you make wiser decisions whenever you can.

By: manhattanguy

manhattanguy — Fri, 26 Jun 2009 01:43:49 +0000

I already said that blame goes around. Companies change terms to whatever they want. Just exactly how they rip you off. I acknowledge that. This is the reason why I don’t use credit cards. But to sit there and just blame everything on someone else for this debt problem is plain ignorant and demented.

By: Alessandro Machi

Alessandro Machi — Fri, 26 Jun 2009 01:39:30 +0000

So you think 30% interest is not racketeering?

So you think it is ok to change terms and not allow the consumer the right to opt out on a pre-existing agreement?

Your wealth, if you have any, is primarily based ON CREDIT.

At the end of the day, it will be people like you that sink the entire ship by throwing the baby out with the bathwather.

Once interest savings rates hit 1% in the early-mid 90’s, it discouraged people from saving. Your are defending banks who have tricked people into a certain amount of debt, and then raised the interest rates on them afterwards.

I can only guess what field you work in.

http://www.daily-protest.com

By: karen

karen — Fri, 26 Jun 2009 01:37:07 +0000

ben, my turn to lol, just did a search on “no shame no game.” some explicit rap songs…

By: manhattanguy

manhattanguy — Fri, 26 Jun 2009 01:30:48 +0000

“People go into debt because they have unexpected medical expenses, can be a crime victim, lose their job, start their own business,”

As I said the blame goes around. When does people take personal responsibility? You save money for these type of medical emergency situation. Consumers are at fault here. You can’t just blame corporations/real estate brokers for your own problems. This is the same reasoning used by people who got into the subprime loans. Why didn’t you just use your brain to think you can’t afford a million dollar house when you were only making 50k in the first place?