Could this Become Bush's Biggest Mistake?
Before the signing of the bill that made it difficult at best to file for bankruptcy, how many people knew before-hand that this bill would allow Credit card companies to raise, and in some cases double their minimum payments? For those who have minimum payments of $200 on a single card... I know, most people have more than 1 card, but for the sake of illustration, what happens to a person struggling to make his/er minimum payment when it suddenly jumps from $200 to $400? And since most people have at least 3 credit cards, what happens to those people who pay $500 a month in minimum payments when their minimums double?
We should all be thankful there isn't a Debtors Prison in our modern society, though it could be argued that Poverty is such a prison. A lot of people are going to be hurt by this; by companies who show little concern about how much, and to whom, they extend credit.
We should all be thankful there isn't a Debtors Prison in our modern society, though it could be argued that Poverty is such a prison. A lot of people are going to be hurt by this; by companies who show little concern about how much, and to whom, they extend credit.
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