Monday, January 18, 2010

Moral and Monetary Bankruptcy

I heard this commercial where they said something like:

"You have the RIGHT to settle your credit card debt for a fraction of what you owe."

I know this has been going on for a long time. But it’s starting to piss me off.

Why do you have the RIGHT to charge stuff, use it and then NOT pay for some of it?

Isn’t this teaching our kids to go ahead and do whatever they want and ask forgiveness later?

It’s like how I was brought up to see Catholics: they do whatever they want and then go to Confession later. Now that I’m a Catholic, I’m certainly not like that and don’t know many who are. I don’t kiss other guys, thinking, “I can just confess this later at church and to Aron and it’ll be okay.”

So why can I buy all the shoes I want and all the chocolate and crap and then NOT pay for all of it?

Sounds similar to bankruptcy to me. MORAL bankruptcy.

*Edited to add: I guess when I posted this I had severe baby brain and now realize that some people might not, for instance, have health insurance for whatever reason, and get debt that way. School me on this one, people!

7 comments:

  1. You gotta fight
    For your right
    to PAAAARRRTY!

    LOL

    You also have the right to *free* healthcare at taxpayer expense. Do you know what really bugs me about that whole thing is that no one ever says anything about DENTAL and VISION which is not covered under most insurance... why? Why can I go to a heart doctor or a foot doctor, but not an EYE doctor under a medical plan?

    Whoever made all this up was craaazee. Speaking of which, mental health is also not a covered benefit... or it's covered so differently that it might as well not be.

    :O

    ReplyDelete
  2. And why the heck am I, who, saved her money, bought a house I could afford with a straightforward 5.5% 30 year mortgage, a little bitter that all these people with houses way beyond their means are getting bailed out??? I want a fancy kitchen and a closet the size of my bedroom too!!!

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  3. I think that attitude is how we got in this position in the first place! All that panic and bail out and now they are back to their old ways! Hmmmmmm.....

    ReplyDelete
  4. I agree! That is so wrong!

    My family is all catholics. They party on Friday like there is no tomorrow and then confess on Sunday. It's so sad.

    ReplyDelete
  5. I totally agree about the accountability, but people will always argue about RIGHTS. About everything. And look at the example set by our financial system: Write bad loans, commit fraud, and get bailed out.

    Btw, if we're paying taxes, health care wouldn't be "free." My taxes go toward public schools, but I don't have kids. Go figure. It's never going to be "fair."

    ReplyDelete
  6. Well, there are many things that can lead to bankruptcy. Is it a "right"? I don't know. But I know that more than 20 years ago, I was foolish about what the world had in store for me & as a college student imagined I would graduate & immediately be making the big bucks. And guess what? These credit card companies were giving me credit cards right & left. They were set up in the college parking lot & giving free t-shirts if you signed up! To college kids with NO income!!! Guess how many I had???? 12 cards. No income. I'm still in debt today because of this mistake. My husband and I have considered bankruptcy for years due to this, plus several bad luck situations that have happened to us, some non-insured health care at an ER, job losses, car accident, etc. At this point, it looks like our only hope. In the finance charges that I have paid for more than 20 years, I have more than paid for those F...ing shoes I bought in college. From what I understand, the credit card companies are no longer targeting the college students like they did when I was there. but seriously, all my friends were in credit card debt upon graduation due to this. I'm not saying I am not responsible for my actions. But I am saying that things happen & sometimes life looks pretty hopeless to those of us who made mistakes in our youth. I'm in my 40's paying for those mistakes.... It's sad, stressful & not the life I had planned, that is for sure. My mistake.

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  7. Bankruptcy fits into the typical American notion that you have something for nothing coming to you. You bought it you need to pay for it. You choose not to get health insurance, bad gamble, sorry you lost. There is always a catastrophic health insurance plan for an affordable amount. Get rid of your cell phone, your nice car, your cable on the flat screen, and computer. You might find that you have enough to pay your bills. Maybe if you hadn't bought all that in the first place you wouldn't be in this situation. People will always say that bad times can happen unexpectedly, well plan for them instead of spending freely. I have no patience for bankruptcy. It just promotes irresponsibility.

    ReplyDelete

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