Rate of credit card balances 30 days or more delinquent
- Thread starter dealmaker
- Start date
M
morganist
Maybe the government will forgive all credit card debt like student loan debt....
Consumers love to consume
If the government can make more money available to the debtors they can make good on the repayment instalments. There are some ways they can do this with pension reform, it has been effective in the United Kingdom.
Or they spend it and borrow more.
M
morganist
Usually when they owe money and are delinquent in payments they will pay off the debt instead of spending, plus they are unlikely to be able to get into more debt if they are not making payments. The creditor may have legal powers to get any new income the debtor might receive to pay off the debts owed, this is standard in the United Kingdom. In short any new money the debtor gets is going to be given to the creditor unless it is a particularly special circumstance.
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Looks HI;
but 93% paying interest on credit could be more stupid LOL..........................................