Stop paying credit cards. Give yourself a bailout!!

[Trader666]

You have some serious growing up to do if you think it's respectable to ruin your credit by deadbeating a creditor for $12K for the reason you gave.

Quote from jueco2005:

However, It does piss me off that you don’t respect my position

 

[jueco2005]

Quote from Fireplace:

Jueco, most don't respect your position because the collective actions of people like you is what could destroy everything we have today. You think your 'higher education' diplomas and cushy job will even exist or be worthwhile anymore if everyone just decided to do what you are doing?

Whether you like it or not, this world has become a credit driven world. If you don't want in, take care of your debts and then say F- U to the CC companies and live off of cash. Your perfectly entitled to do so. But walking away from your responsibilities can have a systemic impact if everyone decided to go down that road. And I don't want your irresponsibility to affect me negatively

Another victim brainwashed guy.

In case you were in the moon or out in space for the last 3 years or so I will tell you a little story.

Between 2000 and 2010 greedy dishonest people like me took huge debts and got rich. When the bill came we defaulted. Along came the Fed and the US treasury and bailout all banks and we are now waiting for the economy to recover so we can be happy again. So dont worry, you have a future.

DIVIDE AND CONQUER. It always works.

 

[Fireplace]

LoL, you 'got rich' and can't afford to pay back 12k?

Wow, we must have REAL different definitions of rich!

 

[Vinny1]

What would happen if everyone in the country went on strike and just stopped paying their credit cards, car loans, home loans, and student loans?

If there was no such thing as loans, and everyone paid cash for everything they bought, wouldn't it benefit most people because prices for everything would come down?

 

[jueco2005]

Quote from Vinny1:

What would happen if everyone in the country went on strike and just stopped paying their credit cards, car loans, home loans, and student loans?

If there was no such thing as loans, and everyone paid cash for everything they bought, wouldn't it benefit most people because prices for everything would come down?

It would put an end to "debt regime".

Ever wonder how come everyone, countries, businesses and even people owe money. Who is the creditor???

 

[Scataphagos]

Quote from jueco2005:

It would put an end to "debt regime".

Ever wonder how come everyone, countries, businesses and even people owe money. Who is the creditor???

In the 50s and 60s, before credit cards, people SAVED until they could afford things.... and we didn't have ANY of the financial troubles we have today.

 

[wave]

The creature known as the "Federal Reserve" created a culture of posterity and look what has happened since it's creation.

So has the Federal Reserve System's experiment with fiat currency failed?

http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212

 

[ElCubano]

Quote from Scataphagos:

In the 50s and 60s, before credit cards, people SAVED until they could afford things.... and we didn't have ANY of the financial troubles we have today.

or they would do a lay-away plan...

Credit is not bad if used correctly, big stress on the word correctly. ( ie student loans, home loan, car loans ) ....not to many people would be able to afford a house without credit. It is the banks resposibilty to lend out money to credit worthy individuals. So most of the blame for our recent crisis is on their shoulders. yes trader666 I know you think otherwise.

 

[Scataphagos]

Quote from ElCubano:

or they would do a lay-away plan...

Credit is not bad if used correctly, big stress on the word correctly. ( ie student loans, home loan, car loans ) ....not to many people would be able to afford a house without credit. It is the banks resposibilty to lend out money to credit worthy individuals. So most of the blame for our recent crisis is on their shoulders. yes trader666 I know you think otherwise.

Layaway = saving before buying.

Of course people need a mortgage to buy a home.. but back then most had to make a down payment and to "qualify" by income... we didn't have inflation problems either. (The only time we have inflation problems is when the government wants to "get something for nothing" without the people realizing how or how badly they are being hosed. You know, kind of like RIGHT NOW!)

The only reason we abandoned those practices... GOVERNMENT GREED! And as a result, STUPIDITY AND RECKLESSNESS WITH CREDIT!

 

[jueco2005]

Quote from Scataphagos:

In the 50s and 60s, before credit cards, people SAVED until they could afford things.... and we didn't have ANY of the financial troubles we have today.

In real terms SAVINGS does not exist. It is just future consumption. All savings is done based on possible future expenditures.

Our present financial system sees savings as an evil. One of its main foundations is the fallacy that past depressions and recessions is because people SAVED TOO MUCH for no apparent reason.