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As someone who works in the credit industry, the blame doesn't and should not fall ENTIRELY on the debtors. Our society has ingrained it into people's heads that the "Buy Now! Pay later!" method of purchase and acquire has painfree consequences. That, as we are seeing, is not the case. Good credit practice advisement and resources are now the mainstream because it didn't come across naturally before. The rule of thumb in life to strive by is simply don't take in more than what you can pay out. And as always, our bodies also have a way of needing special attention from time to time.
There are many people who rightfully file for bankruptcy due to life situations beyond their control; however, there are those few that have abused the system. As always, it only takes a small messup to change things for everyone.
I am very wary about the changes this will bring, on both sides of the credit.
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Calling from deep in the heart, from where the eyes can't see and the ears can't hear, from where the mountain trails end and only love can go... ~~~ Three Rivers Hare Krishna
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