Credit Card debt

[cchen]

Originally Posted by JayJay

kunk, like you, I hold credit card companies in the lowest regard because of their abominable practices. Nonetheless....

Can you be more specific? No one forces people to spend money...

 

[WhateverYouLike]

Yes, lets disregard personal responsibility as long as you damage a big company. That makes sense.

 

[Fuuma]

Originally Posted by WhateverYouLike

Yes, lets disregard personal responsibility as long as you damage a big company. That makes sense.

Perfect sense...

 

[thekunk07]

I concur. **** em all.

 

[TyCooN]

Originally Posted by Fuuma

Hope your sister finds a way to **** her CC over, good luck.

 

[NorCal]

Maybe she should ask for her share of the several trillion dollars in bailouts back before she pays.

Really I'm unclear why I should care about a credit card company when my own bank (Chase) just got tens of billions in free money, used it to but another bank and greatly increase their business and yet has the audacity to nickel and dime me with arbitrary fees and back handed bull ****.
As far as I'm concerned they should be on their hands and knees begging to kiss ****** for everything I've done for them. I wonder how much of the 30k is the result of usurious interest rates, late fees, over limit fees, and "convenience charges." **** the lot of them.

Of course no one's asking me, and your sister should have had the sense to stop charging long ago simply to avoid the huge cluster **** her life will be for the next several years.

 

[thekunk07]

i am seriously considering using western union and usps money orders only from now on.

 

[thekunk07]

they never give up either.

Originally Posted by NorCal

Maybe she should ask for her share of the several trillion dollars in bailouts back before she pays.

Really I'm unclear why I should care about a credit card company when my own bank (Chase) just got tens of billions in free money, used it to but another bank and greatly increase their business and yet has the audacity to nickel and dime me with arbitrary fees and back handed bull ****.
As far as I'm concerned they should be on their hands and knees begging to kiss ****** for everything I've done for them. I wonder how much of the 30k is the result of usurious interest rates, late fees, over limit fees, and "convenience charges." **** the lot of them.

Of course no one's asking me, and your sister should have had the sense to stop charging long ago simply to avoid the huge cluster **** her life will be for the next several years.

 

[NorCal]

Its not as bad as it might seem. You do need at least one card with a Visa/Mastercard logo on it or else you'll be a social leper (unable to rent any number of things, buy online ect). I threw away all my cards about a year ago. Now I just share one with the SO. It makes it a lot easier to keep spending in line as well (no credit card debt as of this month).

A lot of super poor folks avoid the banks like the plague. It's always seen as a major problem that works to keep them down as they end up using the shylocks and check cashing joints but the argument in favor is that all the fees are up front and very clear. No surprises, no random fees showing up on the next statement, no arbitrary decisions made by the shadowy overlords.

Originally Posted by thekunk07

i am seriously considering using western union and usps money orders only from now on.

 

[breakz]

Originally Posted by NorCal

No surprises, no random fees showing up on the next statement, no arbitrary decisions made by the shadowy overlords.

On that note, I'm eagerly anticipating the day when banks will no longer automatically enroll their customers in overdraft programs.

 

[Stylin-1]

Originally Posted by Phantom9309

Are you referring to Statutes of Limitations? That length is different for each state by the way. First you need to default, then it needs to go to collections. Then you wait out the length of the statute of limitations. Then it takes another 7 years to get off your credit history. So depending on how long that limitation is, it could be any where between 12-20years.

You have no clue what you're talking about. Statute of Limitations does vary by state and governs the window in which a creditor can legally sue a debtor. However, bad consumer debt can only be reported on one's credit report for 7 years from the date of deliquency, the only exceptions being tax leins and ch 7 bankruptcies.

http://www.ftc.gov/os/statutes/031224fcra.pdf

 

[NowPlayingTheGame]

Agreed.
Tell her to pay back the money she borrowed.
People who don't pay back loans are low life scumbags with no morals or ethics.

 

[Sigmatic]

I think the next question here is: where is she going to go once she ***** up her credit in AUS?

They charge insane interest and most Aussies I know have a good deal of debt as it is.

However, I can tell you from experience that your credit will not follow you, good or bad.

 

[Phantom9309]

Originally Posted by Stylin-1

You have no clue what you're talking about. Statute of Limitations does vary by state and governs the window in which a creditor can legally sue a debtor. However, bad consumer debt can only be reported on one's credit report for 7 years from the date of deliquency, the only exceptions being tax leins and ch 7 bankruptcies.

http://www.ftc.gov/os/statutes/031224fcra.pdf

I'm only replying because I hate it when people make assumptions and say I have no clue. It is also fine if you disagree with me but linking an 86 page pdf that describes the fair credit reporting act doesn't mean I'm going to go read it to see if you're right. I'm not even going to be as irresponsible enough to get me into a situation where I have to worry about statute of limitations. I also never mentioned that the debt would magically disappear. Anyways, my rant is over for now.

 

[sho'nuff]

Originally Posted by Phantom9309

I'm only replying because I hate it when people make assumptions and say I have no clue. It is also fine if you disagree with me but linking an 86 page pdf that describes the fair credit reporting act doesn't mean I'm going to go read it to see if you're right. I'm not even going to be as irresponsible enough to get me into a situation where I have to worry about statute of limitations. I also never mentioned that the debt would magically disappear. Anyways, my rant is over for now.

i get that alot too. dont worry. you get alot of absolutist argumentation and ad hominem on internet , it fails but it is definitely easy to use