So on Friday I complained about people walking away from mortgages. And a commentor Leigh, said she hates people who default on credit cards. I have to say I agree, 100%. I’m sorry, but credit cards and credit card companies are NOT evil. And in NYT article more people are choosing to default with credit cards, probably because when you can walk away from a house, what difference does it make to walk away from credit card debt as well?
This is mean, but how many cycles of using a credit card, do people get before they are BLAME for using a credit card and being charged interest? I would have to say 1. I hear all the time, I didn’t know how credit cards work. OMG, the interest rate is so high.
Well did the credit card company put a gun to your head and tell you to charge your dinner out? Did you not choose to buy those fancy toys? And when these people start paying off debt, they call credit card companies “Snakes” and are to blame for the mess they are in.
Um, NO! I’m sorry but, here you are having a grand old time charging up a storm, enjoying life, and it’s the credit card companies fault for allowing you to charge? It’s their fault for charging you interest?
Gosh, I can understand people getting taken maybe for a couple of credit card cycles, but most people spend years in CC debt before they wake up. Then when they do, they refuse to acknowledge their own fault in spending? Instead saying “CC cause people to spend more…They are evil…”
Granted these are the same people who likely have overdrafted their checking account and bounced checks. But personal responsibility is gone in this country.
Now it’s all about, blaming everyone else and saying “they shouldn’t loan me money period.” Truth is maybe we should not have mortgages, should not have car loans, should not have credit cards.
The reality is why should credit card companies “settle” debt at 35 cents on the dollar that a person CHARGED? Why should they get back less than the person ENJOYED! People who follow dave ramsey think this is great. They never think about the morality involved in the fact they bought products, ate meals out, etc and enjoyed life on someone else’s dime!
But hey if life were fair, and credit card companies were only allowed to charge 5% interest, people would STILL WHINE and complain about their CC debt. They would still make late payments, and they would still try to find a way to settle for less than they owe.
Truth is, personal responsibility and feeling that you should pay back what you borrowed is GONE.
11 responses so far ↓
1 Alex // Aug 17, 2009 at 9:40 am
Gotta agree with this post. It was funny, I was watching a reality show, America’s Best Dance Crew, and they showed a supposedly poor off dance group that had to practice at home. When they showed the supposedly poor off home, the TV was like twice as big as mine. It seems like the average American has only his own wasteful spending to blame for his credit card debt.
This may seem obvious to some but you don’t need a $100+ a month Iphone, a big screen tv, HDTV cable subscription, a new car, or any other ridiculous waste of money the average American seems to think is normal.
2 tom // Aug 17, 2009 at 12:16 pm
Wow… I c0mpletely agree!
Not to get into politics, but you have mentioned on here before that you are very liberal and this is a very conservative view.
3 LAL // Aug 17, 2009 at 1:15 pm
Nope, it’s a personal responsibility view.
Don’t get me wrong, I believe that people are spenders by nature. Thus tax the crap out of them and make healthcare socialized. I believe that people don’t save for retirement, so we should have mandatory retirement accounts like how pensions used to work.
So yes I’m very liberal. But I believe in social programs. I don’t like the fact that people are walking away and the morality of society is decaying.
It’s not decaying because of gay marriage. It’s not decaying because of premarital sex.
It’s decaying because we’re all becoming assholes and saying “it’s okay to walk away from responsibility. It’s okay if you don’t like it, the just leave it on the table for someone else.”
I don’t believe in tithing, I don’t believe in organized religion. I’m not a small government conservative but I can see the pros of smaller government.
I just want some sort of personal responsibility period.
4 LAL // Aug 17, 2009 at 1:16 pm
Oh and making $5k/month but unable to pay a mortgage of $2200? And behind 3 months?
I’m sorry but you are CHOOSING not to pay your mortgage and credit cards! It’s not that the person doesn’t have money, they are being jerks who don’t want to PAY their BILLS.
There is NO EXCUSE.
5 tom // Aug 17, 2009 at 2:47 pm
I love it all!
Getting off topic here, but…
“Don’t get me wrong, I believe that people are spenders by nature. Thus tax the crap out of them and make healthcare socialized”
Are you for eliminating the income tax and going directly to a national sales tax?
6 Meg from FruWiki // Aug 17, 2009 at 3:48 pm
@tom
Personal responsibility is definitely not just a conservative view. I consider myself liberal as well, but I don’t think personal responsibility is political. While I think the government should help those who are truly in need, I think assuming that the government can/will help you through a crisis is irresponsible, selfish, and D-U-M-B!
7 negative_net_worth // Aug 17, 2009 at 7:30 pm
Great post – I 100% agree! I know a few people who went down this path and ended up declaring bankruptcy….and it was totally, totally wrong. It makes me sick when I think about it. Bankruptcy and credit card settlements are not there to save your lazy butt because you decided to ignore your responsibilities, it’s there to protect and help people dealing with catastrophic losses. Sad, sad, sad.
8 LAL // Aug 19, 2009 at 1:20 pm
Tom, no, because I think it will unfortunately hit the lower and middle classes harder than the rich to pay a VAT. We spend more of our income on necessities than the rich, proportionately wise.
I think the FAIREST way is a flat tax. Everyone gets $1500 exemption or something per person/child and then a 10% flat tax on your income period. NO deductions. It will be a low tax rate, but without deductions the rich will have to pay their fair share.
9 LAL // Aug 19, 2009 at 1:21 pm
Meg, I agree.
Negative net worth, me too. I have no problems with BK for people who are in real trouble and got there on accident. But some people are just working the system.
10 Don // Aug 21, 2009 at 3:01 pm
hypocrite. do you realize liberalism is hypocritical? You cannot be for personal responsbility and then say that people cannot save for retirement so we should force them too by paying a tax (social security). You cannot be for personal responsibility and then say we are in capable of choosing our own healthcare and paying for it so the govt should “steal” it from us and force us and everyone else into their govt run system. Why can’t you see that????
11 LAL // Sep 15, 2009 at 1:06 pm
Yes you can. You can believe that you have a social right to help out those less fortunate. Those who find themselves in dire situation.
I don’t believe healthcare should be privatized. I think it should be a mandatory minimum right to life.
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