Barely surviving on credit cards

mimo2005 · 05-12-2008, 08:11 AM

Quote:

No longer able to turn their homes for cash, Americans are increasingly using plastic to meet their basic living expenses. But many can't afford to pay the bills.

http://money.cnn.com/2008/05/09/news...ion=2008050914

"They spent $335 on groceries and $242 on gas, on average, in April"
There goes the $600 in stimulus

**EnglishPaul** · 05-12-2008, 12:57 PM

Ah, but the banks win, and therefore the economy wins, unless they file for bankruptcy.

Perhaps the most sensible thing would be for all credit cards to be suspended for 6months.

**-=Rousseau=-** · 05-12-2008, 03:34 PM

The problem with that is the credit card companies would go out of business. That and a lot of people actually can afford to pay their credit card bills - suspending them would punish those who could pay by eliminating a convenient method of payment. Some people need to cut down in their lifestyle (cut cable TV, internet, junk foods, useless trips... Drive less) in order to pay the bills, but for those who already live modestly and still can't afford it... Perhaps a new job is at hand? The 'overqualified' example in the article should tell her one thing: look for a job that is a little more demanding and requires more qualification. It'll probably pay more too.

05-12-2008, 12:57 PM	#2 (permalink)
EnglishPaul Still no avatar Join Date: Sep 2007 Location: Sheffield Posts: 1,314 OS: XP SP2 Blog Entries: 9	Re: Barely surviving on credit cards Ah, but the banks win, and therefore the economy wins, unless they file for bankruptcy. Perhaps the most sensible thing would be for all credit cards to be suspended for 6months.

05-12-2008, 03:34 PM	#3 (permalink)
-=Rousseau=- Biker, Geek and Jock Join Date: Jun 2006 Location: Nashvegas Posts: 827 OS: Windows 7 Ultimate My System	Re: Barely surviving on credit cards The problem with that is the credit card companies would go out of business. That and a lot of people actually can afford to pay their credit card bills - suspending them would punish those who could pay by eliminating a convenient method of payment. Some people need to cut down in their lifestyle (cut cable TV, internet, junk foods, useless trips... Drive less) in order to pay the bills, but for those who already live modestly and still can't afford it... Perhaps a new job is at hand? The 'overqualified' example in the article should tell her one thing: look for a job that is a little more demanding and requires more qualification. It'll probably pay more too.