Karen Consumer

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3 Comments

    • Fri Nov 21st 14:54 PM | Rating: 0 0
      Commented on:
      Banks Forgiving Mortgage Principle: Reward for Bad Behavior?
      Yes it's ugly. But creditors knew this when they went to Congress in 03/04 and demanded that they re-work bankruptcy law making it more difficult for consumers to declare bankruptcy.

      You can purposely work with the debtor and take 50% to 75% of what they can pay, or you can take nothing.

      I'm a consumer. I CAN pay my house, I CANNOT pay my credit card. If I let my house go, it sits empty, gets stripped of copper, incurs liens from the city for failing to maintain it, maybe it even turns into a dope squat. If I let my credit card go, I have to save money to buy products.

      The bank gets money if I stay in my house. The bank gets nothing if they don't know where I'm at.

      You're the investor in the bank, you can get a percentage of something, or absolutely nothing. Forgiving SOME debt leaves a bad taste, but not as bad as getting nothing in return.
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    • Fri Sep 19th 11:10 AM | Rating: 0 0
      Commented on:
      Today's Federal Action Will Alter the Face of Finance
      If the government buys up all the illiquid assets (the mortgages and credit card bills not being paid by the consumer / taxpayer) and then starts collecting on them (with the same "efficiency" they collect taxes), does that mean I can stop paying my bills today? Because I would love to be able to save money in the bank rather than pay my bills, and that's what it sounds like to me, the consumer / taxpayer / ultimate payer of the bailout bill, that that's what the government is proposing. Am I wrong?
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    • Wed Aug 6th 13:03 PM | Rating: 0 0
      Commented on:
      WaMu Borrower Purposely Defaults, Gets Foreclosed On, Sues
      You boneheads. The lawsuit states they were late with ONE payment, knew they were in trouble, and asked for AND took WAMU's advice.

      BTY: I' delinquint on my WAMU credit card since 12/07, but WAMU still hasn't listed it on my credit bureaus. I still make payments (when I can scrape money together) but its no where near the minimum. Surely I'm not the only one whose delinquint, and are they holding off notifying the credit bureaus so they don't have to take the loss until they want to?
      View article »
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