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While I agree in that it obviously is not the smartest way of doing that, if it gets people to actually feel like they have a plan for taking care of their debt

by kdamken 11y ago

While I agree in that it obviously is not the smartest way of doing that, if it gets people to actually feel like they have a plan for taking care of their debt and to start making progress on doing so, then it's worth it. Obviously they probably shouldn't have bought a bunch of things they didn't need, but hindsight's always 20/20.

pc86 11y ago
This whole idea that "oh you have multiple creditors obviously you've made bad decisions" is misguided and naive in the extreme. People have medical bills. People need the counsel of attorneys. You generally need a reliable car to get to work and a roof over your head. You can have huge mountains of debt and be forced to dig your way out by the skin of your teeth through no fault of your own. Paying hundreds a month in credit card interest is not reserved for shopaholics.
- tamana 11y ago
  There is no reason to use credit cards for these sorts of debts.
  - pc86 11y ago
    If you need an attorney and don't have thousands of dollars in the bank, of course you'll need to use a credit card. Attorneys aren't banks, it's not unreasonable for them to refuse to finance your counsel.
  - mordocai 11y ago
    Yeah, they should use payday loans instead! Seriously though, it is astonishing to me how many people are so entitled they just literally cannot understand why someone would have legitimate problems with money. Not everyone is lucky enough to make a break out of poverty, nor is everyone born in middle class income or above. And yes, breaking out of poverty requires some luck in addition to hard work and determination.
- kdamken 11y ago
  Those are all valid reasons and of course it's understandable that you'd need to resort to using credit card debt if you had no other option. However, had they been more frugal and put more effort into their savings prior to the event, they might not have needed to go into (as much) debt.

by kdamken 11y ago

pc86 11y ago

This whole idea that "oh you have multiple creditors obviously you've made bad decisions" is misguided and naive in the extreme. People have medical bills. People need the counsel of attorneys. You generally need a reliable car to get to work and a roof over your head. You can have huge mountains of debt and be forced to dig your way out by the skin of your teeth through no fault of your own. Paying hundreds a month in credit card interest is not reserved for shopaholics.

tamana 11y ago
There is no reason to use credit cards for these sorts of debts.
- pc86 11y ago
  If you need an attorney and don't have thousands of dollars in the bank, of course you'll need to use a credit card. Attorneys aren't banks, it's not unreasonable for them to refuse to finance your counsel.
- mordocai 11y ago
  Yeah, they should use payday loans instead! Seriously though, it is astonishing to me how many people are so entitled they just literally cannot understand why someone would have legitimate problems with money. Not everyone is lucky enough to make a break out of poverty, nor is everyone born in middle class income or above. And yes, breaking out of poverty requires some luck in addition to hard work and determination.
kdamken 11y ago
Those are all valid reasons and of course it's understandable that you'd need to resort to using credit card debt if you had no other option. However, had they been more frugal and put more effort into their savings prior to the event, they might not have needed to go into (as much) debt.