- Why do credit card companies like people that have already declared bankruptcy?
- They can't file for bankruptcy again
- They have a taste for credit, in other words, they are willing to make minimum monthly payments forever
- True or false: Does the US Constitution protect your right to privacy, for example, preventing others from collecting or buying your credit history? This is a trick question. Yes, the Constitution protects you from the government's gathering of this type of information, but credit bureaus are not restricted and currently gather more information about you than you know.
Thursday, August 9, 2007
Review: Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders
I recently watched a documentary named Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders. It's about the current state of the American economy, and how consumer debt plays a part in the economy. There were a couple of interesting points about credit card companies that stuck out:
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Hey Kevin. I like the blog, especially how you are doing some of Dave Ramsey's suggestions. We recently read the "Total Money Makeover." We're doing a lot of the stuff it suggests, but haven't yet started a cash budget - maybe we will soon. I don't know why I can't find your email address in my email, but if you want to check out our family blog, it's www.happyhoodlives.blogspot.com
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