Debt Law - Page 2 of 2

Debt Law - Page 2

While I am all for Bankruptcy reform and those who would use bankruptcy as a method to steal...

I am very concerned about the sanctimonious attitude of Credit Card companies who lure the unsuspecting, un-informed and the desperate into their loan sharking world... yes... I said loan sharking... Which is itself a form of theft. Do you know how many credit card solicitations I get a week?!

I believe there needs to be reform on their side also. With interest rates as high as 21% plus penalties... a person in the straights could theoretically make minimum payments continuously without remedy.

In the 1920's and 30's such practices committed by Credit Card companies today was considered racketeering (loan sharking) and punishable by the law.

My oh my... we have definitely come a long way.