I wonder what would happen if enough Americans default on their credit cards so that credit card companies & banks would go nearly out of business... Maybe they be bailed out. The world would be in chaos... no credit!
Based on what the deadbeats here are posting, they should be. What we really need to do is bring back debtors' prisons and make deadbeats do the menial work we now outsource to China.
It's a bit unfair when creditors have a natural call via government: may be a creditor prison is more appropriate.
Interesting way of looking at it none the less..Sounds good but like everything that sounds too good probally isn't.If you trade stocks you should be the first to know that.Here's my 2 cents i don't think creadit cards will be easy to get in the future so if you have them you should probally keep them in good standing.I had a company send me a letter saying they are closing my account but i still owe them the balance.I have called and asked them to lower my interest and some have and some haven't.I would say pay your bills after all they are your bills and people thinking its ok to do things like this.It has helped us get into this situation.There wouldn't be predators if there wasnt any prey...all thats wrong with this economy and predatory lending would have never happened if people didnt make very bad descisions getting into these loans...knowing they can't afford it!!! PAY YOUR BILLS......
Your automated system? LOL! Yeah, hurry up so you can hasten your move to this neighborhood: http://www.elitetrader.com/vb/showthread.php?s=&threadid=158730 P.S. They can also go after your accounts if you don't gamble it away first.
When you have nothing to lose, why not go after it? It's the mentality of the issuers -- hence the fucking telemarketers.
Down the street from me there's a loser who had to move back in with his parents for this very reason.