04-14-2005, 06:14 PM
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| Bankruptcy Bill-Good, Bad, Ugly
Overall I believe this is a positive, but as you read the article it points out some flaws. I wonder now that the Credit Card companies should have less losses related to bankruptcy that the consumer will see Interest Rates on Credit Cards fall over time? After all that is the reason they argued that they need to charge more.  [Only registered and activated users can see links. Either login above or Register Now] This seems fair to allow exemptions for: "They particularly wanted provisions that would exempt from the new bankruptcy requirements military personnel returning from Iraq and Afghanistan, and people whose indebtedness is the result of financial identity theft." We Shall see: "Rep. David Dreier, R-Calif., said the legislation would save American families an average $400 a year in higher interest rates now charged to consumers to recoup losses from those who abuse bankruptcy proceedings." 
__________________ [Only registered and activated users can see links. Either login above or Register Now] "The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy. The true neighbor will risk his position, his prestige and even his life for the welfare of others." "A penny saved is a government oversight" "Blind faith in bad leadership is not patriotism" "Dissent is the highest form of patriotism"  |
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04-14-2005, 11:00 PM
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| Re: Bankruptcy Bill-Good, Bad, Ugly
"Rep. David Dreier, R-Calif., said the legislation would save American families an average $400 a year in higher interest rates now charged to consumers to recoup losses from those who abuse bankruptcy proceedings." Do you really believe the credit card industry will pass along any savings? This legislation was a gift to the credit card industry, a reckless industry at best. |
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04-15-2005, 12:18 AM
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| Re: Bankruptcy Bill-Good, Bad, Ugly
It's doubtful they will pass on the savings. My interest rate has been raised so many times, despite the fact that I've never missed a payment and always paid more than the minimum. I know for a fa Once my CC's are paid off CitiBank is getting the BOOT from me. They can kiss it for all I care because they SUCK. They lure you in with the 6 months 0% interest then it's 9.99%. It's NEVER 9.99%. Sure it was at first, then it slowly started creeping up... |
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04-15-2005, 05:58 PM
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| Re: Bankruptcy Bill-Good, Bad, Ugly Quote:
__________________ [Only registered and activated users can see links. Either login above or Register Now] "The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy. The true neighbor will risk his position, his prestige and even his life for the welfare of others." "A penny saved is a government oversight" "Blind faith in bad leadership is not patriotism" "Dissent is the highest form of patriotism" |
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