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Originally Posted by braisler
But if we speak clearly and fairly, those middle American, middle class folks with high consumer debt and high Chapter 7 filings have no one to blame but themselves. Just because credit is "aggressively" marketed to you doesn't mean that you have to use it aggressively.
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To this, I will merely state: ditto
Bankruptcy is abused, not in all cases, but some. I had a friend who, right before declaring bankruptcy, maxed all of her credit out because she knew that her debts would disappear after the bankruptcy.
The system gets abused, by creditors and debtors, and needs some type of repair. Unfortunately, it doesn't sound like this "plan" will do anything to hold creditors accountable (i.e. false advertising by Capital One).