Comments on: Banks Propose Credit Card Debt Bailout Plan

By: Webnba

Webnba — Thu, 15 Oct 2009 20:31:24 +0000

Great comment Nancy.

Everyone wants to have their cake and eat it too. Our credit dependent economy would like people to live like they’re playing Monopoly. The scary thing is, this isn’t a game, and when all is said and done, there’s no guarantee we’ll be afforded the opportunity to get our act together.

Every man made currency in history has failed. Looks like we’re doing our part.

By: Nancy Tossell

Nancy Tossell — Wed, 14 Oct 2009 15:51:35 +0000

The state of our economy points out the critical lack of education when it comes to money management. Our marketing machine encourages us to buy on ‘want’ as opposed to ‘need’. If we get into trouble, we are immediately punished with penalties and fees which only add to the problem.

I am currently working with a client who has not made stupid decisions, but lack of financial education has him making moves he would not have considered 2 or 3 years ago.

As a person who was always taught to live within my means, I have been able to avoid this mess. I empathize with those who are angry to have less responsible people get help. However, I also get to see how good people have been punished by an unfair system. Medical issues are the most painful (no pun intended) and people need more help in dealing with this particular situation.

This is going to take a long time to work our way out of and our culture of immediate gratification is going to be sorely tested

By: Kristy

Kristy — Wed, 14 Oct 2009 13:57:46 +0000

You’ve got to call them to try and make a deal.

By: Kay

Kay — Wed, 14 Oct 2009 07:44:22 +0000

I was doing fine, my credit score was in the 700’s. Then I was diagnosed with an aggressive form of cancer. It took me 2 years to finish all the treatments and surgeries. In the meantime, I was working a lot less, and spending a lot more because of doctors and medicines. I couldn’t afford the medical expenses so I kept putting them on my credit cards. I knew what was going to happen, but while fighting for my life, I didn’t care what would happen after that. I just wanted to win against the cancer (seems that I did, so far, good reports, thank God) The credit card debt was so high, after struggling for awhile, I gave up and stopped paying all of them cause none of them were willing to work with me. Now I’m facing Capital One sueing me and possible wage garnishment (even tho they have been bailed out!) I’m angry with my government because I have worked all my adult life paying my taxes. I believe it’s time our government step up and take responsibility for it’s citizens. That’s what taxes are for! I would prefer my Insurance premiums be given to my government and let them provide my health care. My insurance company was making discisions for my health care that only the doctor should be making. I’m really angry cause a US citizen should never have to be thrown into financial ruin because of a sickness.