4 of 14

by Laundry Queen

Absolutely, the rules should be tighter. It is almost like the creditors what people to hang themselves with debt. There should be a set percentage for "personal" debt, just like the banks use for credit checks for mortgages..Say no more than 28%. This way people can't get over extended as easily.

Yes, they still could aquire more debt thru commercial venues and business undertakings but again there should be limits, based on potential or existing income projections.

Too many people are without the education and understanding of debt to keep themselves out of the debt monsters way. This would really give people a chance to move ahead financially by also allowing them to increase their personal savings rate if they never become cash strapped.

Granted even at these level many people would still struggle, but I beleive the majority would make through and thrive.

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Should the rules on applying for credit cards be tighter?

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Should the rules on applying for credit cards be tighter?

by Laundry Queen

Should the rules on applying for credit cards be tighter?

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