Originally posted by: SampSon
Originally posted by: Goosemaster
Originally posted by: SampSon
Originally posted by: Goosemaster
Originally posted by: SampSon
That sucks for the morons who can't control their spending.
they willl GET ULTRARAPED
🙁
I feel minimal amounts of sympathy, if that.
Its's not a perfect world. not everyone who has accumulated debt will deserve this.
many will, but certainly not all
Reality is that debt like unsecured credit cards are a very contemporary problem. They are a complete product of a frivolous, materialistic, sense of entitlement ridden society. They are not required for life though many people treat them and rely on them as if they are.
As I speak to my elders in my grandparents and great grandparents generation I realize how truly ridiculous the credit debt "epidemic" has become.
Back not a few short decades ago people loaned money for just very large purchases and then lived with what money they had. Money is scarce, well you tighten up the belt. Sure some got into bad debt and bankruptcies were there, but not like today.
Today if you can't afford something, charge it. Money flow starts to hurt, no longer do you have to change your lifestyle, you can just rack up debt to maintain it. Can't afford the lifestyle you want, charge your way into it. Sad.
I've had a few clients recently that were refinancing or pulling a HELOC, I asked them if they were going to put it into the house. They told me that they were going to use it to pay their credit card minimum and pay their mortgage payments! They couldn't really afford the house and lifestyle when they bought it, so they are just going to borrow more, still not being able to afford it. Scary.
Sure there are times when you need to borrow to get by and that's normal for everyone who lives. But instead people are just racking up debt to live lives they can't afford. This is becoming all too common. I can't feel much sympathy for that.
