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Credit Problems - It's Not All Your Fault
Are you feeling confused or guilty about your credit problems? There is a lot of blame to go around. Don't feel you have to shoulder the load all by yourself. Lets take a moment to review how you got here and how the credit companies helped.
If you remember back a few years interest rates were low and all you had to do was sign a paper and you could get a loan, easy money. Now interest rates are even lower, but money is tighter than ever, why? To buy a house you need at least 20% down, a 780 credit score and 25% debt ratio to buy a house. What a difference from a few years ago.
There were political and financial reasons the system flooded the consumer markets and I'm sure there were other reasons we don't know of. Another thing, why did the credit card companies lobby so hard to amend the bankruptcy laws a few years ago. My point is some Sec and other political leaders knew problems were coming because of loose lending practices, but are now pleading ignorance.
I'm tired of these guys always pointing the finger at consumers stating the should have read the fine print. To a degree we are responsible, but they also took advantage of human nature and temptations. If you know a persons weakness is food and you always flaunt a delicious pie or cake in front of them are you not guilty of exploiting their weakness, so were the financial companies of this U.S.A..
They recklessly flaunted credit to people while marketers paraded Plasma TVs, Cars, Houses and any other goods they could profit from. This was all done in the face of consumers whose weakness was to consume even though they knew some could not pay down the road. This is not to nullify you do have financial responsibility for yourself, but you were exploded. Don't' let these so called congressional representatives and corporate big shots lay the total blame on you. The real victims are people who didn't get caught up in this mess and are caught in the middle.
Anyway, this has opened the door for some smart lawyers to look closer at the credit laws and open the door for Debt Invalidation. The credit card companies may lobby to change these terms, but it will take time.
Choose your best option and get on with life because we only have One Life - One Body.
About the Author Ric Bai is the founder of the Debt Hub. You can get more information about this from the Debt Hub. You Do have choices.. Read the articles, ads and more, get as much information as you can for your debt problems. It's worth reading Credit Cards which has a short history lesson, this will give you some insight into the manipulation you have been subjected to. Our E book on Credit Repair has references to Debt Invalidation Companies.
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