These people are the reason the bankruptcy bill passed

[CAMANY]

http://creditboards.com/forums/index.php?showforum=2

I found this entire forum with over 500,000 posts dedicated to getting as many cards as possible, the highest limits possible, and then getting the lowest settlements possible (pennies on the dollar) and if that fails bankruptcy. Some of them are pulling credit reports on themselves daily and posting their score and asking how to make it better. It's sick. Tons of posts asking who pulls what credit report and what score they need to get the card.

Some of them are also bragging about getting 10 cards with $50,000 limits.

It's pathetic that people like this have managed to screw over those of us who don't work the system.

[NYCGirl]

1. No, these people are the reason:

http://www.mbna.com/index_main.html

http://www.mastercard.com/us/gateway.html

https://www.chasecreditcard.com/Templates/plat00009bapf/Splash1.asp?creative=OH4P0S7X&splash=1&target=plat00009bapf&source=splash&termsformat=normal


The people you saw on the forum (and there's probably LOTS less than 50,000) are just a mininscule part of it.

Most who file are people who have medical expenses, or have lost their jobs, or other mundane situations.

[CAMANY]

3. Did you even read my post?

No kidding MBNA is behind it, yet they are using the small group of people who play the system (which I linked to) as justification for screwing the people who DON'T play the system.

[Democrats_win]

7. I see. That's sort of what happened. Your explanation was needed. Thanks

[NYCGirl]

12. Sure. The credit card companies are scapegoating the small group of

"gamers" (who should be investigated and prosecuted, if necessary). They're the 2005 version of "welfare queens" (remember them?).

[Democrats_win]

2. Yeah, they're scammers out there. But with no enforcement of Usry

laws or in fact no Usry laws at all, the system is seriously broken. If it was just one bunch of crooks after another this wouldn't be a problem, but honest Americans are suffereing. Congress should have worked on fairness first.

People should seriously consider tearing up their credit cards and stop supporting the 32 Billion dollar industry of crooks.

On edit, with such huge profits, is it really true that they are to blame. Perhaps, oh, it couldn't be: GREED. Fuck'em.

[Q3JR4]

10. I intend to pay my cc off,

($500 limit--thankfully) and then I'm done. The only thing I'll have to deal with after that is student loans (~$10,000), but I plan to start paying them off soon. If I time it right, I should be able to halve that by the time I graduate.

[Redstone]

4. Bullshit, bullshit, bullshit! Look at the statistics.

A clear majority of people who file bankruptcy do so because they don't have a job, or have large medical bills.

Yes, there are scammers and crooked bastards out there. But they are not "the reason the bankruptcy bill passed."

Do some research before making such statements, would you?

Redstone

[CAMANY]

6. Did you read my post?

"It's pathetic that people like this have managed to screw over those of us who don't work the system."

No kidding most people who file bankruptcy aren't playing the system. Yet people that do rip off the system have given them an excuse to screw those that don't.

[Redstone]

13. Yes, I read your post.

You did not say, for example, "these are the people who the Republicans used to get the law passed, even though they're not the real problem."

You stated that they are the one and only problem.

Sorry if I misinterpreted your intentions, but your original post did not say what you said in your follow-ups.

Redstone

[CAMANY]

15. Yes I did not clearly spell everything out

I assumed it spoke for its self that these people were being used as the excuse for the CC companies.

[Mandate My Ass]

18. experts testified before congress that the bill would hurt

the honest and dishonest alike, and the honest debtors far outnumber the guilty ones. The legislation that passed today was written by the CC companies. Don't fall for the hype that Congress thought they were doing the right thing. They are bought and sold and so they voted against their constituents for a bill that will send hard-working families onto the streets for no other reason than they fell on hard times through no fault of their own.

[Redstone]

21. Sorry for getting testy, then.

Redstone

[The_Casual_Observer]

5. Talk about anecdotal bullshit.

How many of those people do you think actually have done any of that stuff they are bragging about?

Your call-to-blame sounds like the kind of shit proffered on every rw AM talk radio hate fest.

[CAMANY]

8. Christ read the post

Yes I KNOW those people don't represent most of those that file bankruptcy, yet the point is they have provided an excuse for the CC companies to screw everyone.

[The_Casual_Observer]

17. They didn't need an excuse, they have what's called a "lobby"

to push the bastard through. They called the bill "the consumer protection act", no excuses offered or were necessary.

[Mandate My Ass]

9. Credit card delinquencies were at an all time low in 2004

Credit card profits were at an all time high during the same time frame.

The bankruptcy bill eliminated the only protection that honest debtors had and lumped everybody into the deadbeat category. None of the proposed amendments that would remedy this made it into the bill.

Don't buy the hype.

[wicket]

11. Over 50% of bankruptcies in the US are because of medical bills

NOT people scamming the system.

[dbt]

14. Welcome to DU, CAMANY!

I see you're already at work!

:hi:

[SiouxJ]

16. Not even close

I hope you're lucky enough to never experience the medical bills associated with a catastrophic illness.

[Catherine Vincent]

19. I'll bet the majority of the people that file for Chapter 11 are repukes.

[Hugin]

20. Uh... CAMANY you're making all of us suffer to get 0.0002% of the...

... population. Assuming your 50,000 is anywhere near
correct.

Heck of a way to run a railroad. Where's the equal protection?

It's the government way tho... Make the many suffer for the
crimes of the few.

[mzmolly]

22. Anyone who files bankruptcy has it on their credit record for 10 years.

Their fun would be very short lived. Additionally, it's tougher to get employment if you've filed bankruptcy. There isn't anyone who has done this who doesn't serioulsy jeopardize their future.