That’s okay. The govt can forgive it and print money if needed.
They only do this for corporations defaulting. not citizens… ;)
Shitttt!
The government should go after the companies price gouging and make a fund with it. That fund should be set up for people that are in trouble either with a payment plan that works, financial council if needed. I’m not sure if they can get enough funds for partial and full payments but the corporate greed is one reason all these people had to go this route. Most Americans are living paycheck by paycheck every year medical goes up higher than the wages.
Fuck em, dont pay it back. Shit lets go fight club on these companies. They do nothing but steal. Might as well do the same back.
The first step is getting as out of debt as possible. The second step is figuring out which of those debts are pointless money pits [medical, student loans] and then realizing that credit is nothing more than a yoke and a scam and then you’re totally free.
They wont garnish your wage without a court order, and guess what would be impossible to get if we all did it? The courts would be backed up for 30 years.
Did they not include a link to the poll in the article?
No, but they did state: “The survey was conducted on December 8 with a sample size of 1,500 people living in the U.S.”
Sooooo, it essentially means fuck all.
Americans should leave that hell hole and migrate to europe. Just leave that shit behind. Maybe the system changes when there are no more people to exploit.
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Inflation lowers debt burdens, it doesn’t raise them.
Except for adjustable rate debt, like CC debt. The article even notes that rates were typically around 15% pre rate hikes, and are now sitting at 22%.
My income and cost of living both went up 20% over the past few years, but it’s not a wash because my debts didn’t change.
My guess is that, like me, you don’t carry cc debt. I have a heloc that I haven’t started drawing from yet, but I got it last year and the rate is up slightly since when I got it. It will go down with the rates, but if there were money in it, my debt burden would also rise.
Some of them are just hungry and don’t get paid enough to afford a full month of food.
Ally non student debt is from a tine when Ibdidn’t have a stable job. In fact I barely spend at all, all my money troubles are 100% from low income
