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Originally Posted by Cynthetiq
I know of a number of people who abused the system, planning bankruptcies and running up huge debts once they were executing those bankruptcies. I don't consider them friends even though they are "family" as I'm too disgusted by what I've witnessed.
The system was in place to help those that needed help. Like all programs that get abused, they get cut and the people who needed them to begin with suffer.
shame, but that's the America we live in.
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Likewise.
My mother worked for a credit collection department at a bank once and the stories she told were appalling.
For every honest, just-got-in-to-far debtor, there were two or three that were in it to screw the bank.
My own experience was working for a loan company that specialized in mobile home loans...we hated even considering certain people for loans.
One of these groups was native americans on reservations. Once a home got on the reservation many would stop paying on the note because it was harder than hell to repossess.
I agree that credit card companies are partly to blame, but no one makes you accept the cards and run up the debt.