My suggestion was to change bankruptcy law so these products are less predatory - the fact that its very very hard for the poor to discharge excessive debt via

My suggestion was to change bankruptcy law so these products are less predatory - the fact that its very very hard for the poor to discharge excessive debt via bankruptcy is a huge issue and traps people in a cycle of poverty. Access to credit, real revolving credit, is a boon to the poor, if you can teach yourself the skills to use it wisely, it can provide that cushion that you otherwise wouldn't have. I literally started over again at 27, with my slate clean by waiting 7 years, then I started fresh with a secured card from C1, and built my credit from there - but at some point about a decade ago, I used one of my cards to put tires on my car, which ensured that I had a functional vehicle to continue to use to work - even though I was not of traditional credit worthiness, that purchase allowed me to keep that job, and gave me the skills to find a far better one later. Yes, some do fall into a perpetuity trap, but we need to fix the system to allow for an escape for that, not just change the system so you cant take any risk at all.