Travis Plunkett
Travis Plunkett
approach fed fee five hit increasing large number past people taken time tired traps
People are just fed up with the approach that the large credit-card issuers have taken over the past five years. They're fed up with an increasing number of traps and tricks. They're tired of being hit with a fee every time they blink.
ground hit people prison safety sink slip
We're going to see people in a debtor's prison without walls, ... They'll essentially slip through the safety net, hit the ground and then sink into an underground economy.
backwards bankruptcy barriers bending circumstance depend families federal government help hit net safety throwing victims
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.
bankruptcy credit ended fashion gambling hit law people treats
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.
credit gaining interested lucrative market share
What the credit bureaus are most interested in is gaining market share in the increasingly lucrative market for credit scores.
bankruptcy consumers counseling credit hurdle jump relief
We don't want this credit counseling requirement to be yet another hurdle that consumers who really need bankruptcy relief have to jump over to get it,
bankruptcy hoops jump
shouldn't have to jump through hoops to get bankruptcy relief.
chunk concern families largest money putting rent tempted
Rent is often the largest chunk of a family's monthly budget. So the concern would be that these families would be tempted to use money they don't have by putting it on plastic.
bill effort either include relief serious
I think you're going to see a serious effort to include this provision either as a standalone bill or as relief legislation.
industry reaching
I think the credit-card industry is reaching a tipping point,
good late pay paying possible
It is possible some could read this and say, 'they're encouraging me to pay late,' ... Paying late is never a good deal.
bankruptcy credit decided delivered early helpful late people point support whether wonder
We support credit counseling, especially if it's delivered early, and this is not early intervention. This is late intervention at the point where people have decided that bankruptcy is the only way for them. We just wonder whether this kind of late intervention will be helpful to too many people.
companies flooded gradually guidance time until waited
Most issuers waited until at least mid-2005 or later. Credit-card companies should have started implementing this guidance a long time ago. They should have done so very gradually ... That hasn't happened. But we haven't been flooded with complaints, either.
virtually
What we have right now is exceedingly weak. It's virtually worthless.