Think about this, we already rent out our lives by mortgaging our homes, cars, credit cards, loans covering every concievable need to borrow money. Let%26#039;s not forget about the hundreds of millions of credit card solicitations that people are bombarded with every month. Granted as adults we are responsiable for our actions but yet we are judged by whats called a FICO score.
It just seems like such a cat and mouse game of having credit, aka debt being dangled like a carrot, yet their seems to be little or no accountability in terms of an abusive lending industry.
By the way, the word mortgage actually means agreement untill death.
Do you think the lending industry ( aka. debt creation industry) has any accountability?
We all have to take personal responsiblity for our actions. No one forces you to get into debt. I wasn%26#039;t forced.
Now, I%26#039;ve had enough, and am taking the actions to get out of debt, and NEVER have to borrow money again. I think if more people did that, this wouldn%26#039;t be as big a problem.
Do you think the lending industry ( aka. debt creation industry) has any accountability?
just saying %26quot;People need to take responsibility%26quot;.. There is a lack of financial education and the debt industry takes full advantage of that fact. So as opposed to blindly blaming consumer I believe the debt industry should take some of the blame for the debt they help create. Report It
Do you think the lending industry ( aka. debt creation industry) has any accountability?
I somewhat agree. You%26#039;re right to point out that ultimately, the borrower is responsible. But lenders often DO dangle credit opportunities in our faces and even to those whose creditworthiness is marginal at best. But the lenders ultimately write off or recoup losses by balancing their books on the backs of their good account holders. This practice raises the cost of doing business for everyone.
Do you think the lending industry ( aka. debt creation industry) has any accountability?
It%26#039;s called free will. If someone accepts credit and abuses it, it is their responsibility. Every time they whip that credit card out at their favorite store or restaurant, it is their personal responsibility and they should be held accountable for it and have to pay up.
Bankruptcy laws are far too lenient, you should not have the option of %26quot;getting out of debt free%26quot; that you created.
Personal responsibility is lacking in this day and age, everyone wants someone else to blame.
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