Quote:
Originally Posted by Superbelt
Top 10 states in bankruptcy filings regularly go red. They are also some of the poorest states.
Credit companies deliberately target the ignorant like college kids with a "great deal" that has all kinds of penalties and hidden fees behind a 50 page book of rules and regulations.
They do what they can to fuck us and take more of our money and now are doing all they can to make sure they get all of it.
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If I can impart one thing to all who read my posts to this forum, it is my
frustration with those American voters who sell out their own best interests with their votes, doing it with confidence, enthusiasm, and obliviousness.
This is the most important news coverage on this thread:
[quote]
Quote:
<a href="http://www.azcentral.com/arizonarepublic/business/articles/0310talton10.html">http://www.azcentral.com/arizonarepublic/business/articles/0310talton10.html</a>
The new measure will make it more difficult for debtors to file under Chapter 7, which allows for a fresh start. Instead, more people would be forced to use Chapter 13, with the bankruptcy court overseeing a five-year repayment. Unfortunately, the new law does nothing to address the aggressive marketing of credit. It also contains a loophole for wealthy debtors to shield expensive assets from the bankruptcy court. Yet another exception allows the rich to set up a trust that is protected from creditors.
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Average Americans will not see such sweetheart treatment. Will they care? Polls show that middle-class Whites supported President Bush over John Kerry on the economy by a wide margin. Yet Bush's agenda is based on shifting more risk and greater costs to average Americans, while lowering regulation on business and cutting taxes for the extremely wealthy.</b>
Arizonans, with below-average incomes, declining numbers of jobs with health benefits, and high debt, will feel the consequences quickly. And debt collection, the ultimate countercyclical sector, will go on.
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