Travis Plunkett
Travis Plunkett
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If your credit card bills are completely out of control and far beyond your ability to afford them, then the relatively minor breaks that credit card companies offer to people in credit counseling may not provide enough breathing room for some people to afford a three- to five-year debt-management plan.
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Taking on debt to accumulate savings is an obvious contradiction. It seems more like a clever marketing ploy than a legitimate method for increasing savings.
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Bankruptcy is an important safety net that families hit by unforeseen circumstances depend upon. The federal government should be bending over backwards to help Katrina's victims get back on their feet, not throwing up new barriers to bankruptcy.
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Credit card lenders are luring consumers onto a minimum-payment treadmill. Consumers don't have the information they need to get off of it.
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It's kind of like the wild west out there.
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The bill simply doesn't balance responsibility between families in debt trouble and the creditors whose practices have contributed to the rise in bankruptcies.
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They'll never get a fresh start, ... And over the long haul, this can have a significant impact on the economy, if a large number of people can't get back to being ordinary consumers.
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It's extremely lucrative for the insurers, much more so than other types of insurance.
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They've done nothing, absolutely nothing. The credit card industry has an enormous amount of power in Washington. They bottle these bills up.
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Some people prefer telephone counseling. Some people prefer in-person counseling.
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Once you're caught in that, you're often stuck,
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For some people, it's going to be not much of a change at all.
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Your credit report is your passport to your essential financial information. Increasingly, what's in your credit report determines whether you'll get credit and how much you'll pay for it.
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The law has a one-size-fits-all approach, ... It treats people who have been hit by hurricanes in the same fashion as people who have ended up in bankruptcy from gambling or overspending or misusing the credit they were given.