Lenders affected by customers defaulting on their credit cards

Full story: Whittier Daily News

The housing bubble. The credit crunch. The automobile industry meltdown. Just when you thought all of the economic dominoes had toppled, experts say another one is about ready to tip.
Comments
1 - 4 of 4 Comments Last updated Mar 26, 2014
James C

Pleasanton, CA

#1 Nov 16, 2008
So now were going to bail out the rip off credit card companies who so willingly gave out credit cards with a very high interest rate to people who they knew could not make the payments sooner or later and now they want a hand out.
When is the Federal Government going to say NO you got yourself into this now get out of it just like a normal person has to do. So what if they have to file chapter 11 or 13 let them get there selves out of there own mess.
GP Pasadena

Los Angeles, CA

#2 Nov 16, 2008
Once again, the Banks desrve this, they are getting money at 1% and charge Credit-Card holders 20% or even 28$ interest rates, plus late fees at high as $39.00 and over-the limit fees again $39.00. If you pay twice the minimum, you can get even. If you pay the minimum, you gonna be getting lesss credit, that the interest they charge.
No bailouts for the Banks, until they bring down the interests and stupid fees they charge.
Sandy

United States

#3 Dec 20, 2008
As much as this will be a blow for the economy, the situation is not helped and actually ascerbated by the credit card companies themselves. More and more people are chiming in (myself included) with horror stories of manageable interest rates skyrocking three to four times their normal percentages. In their attempt to hold onto their profit, the credit card companies are making it harder for families NOT to default on their accounts. A family that struggled, but managed, to make a 100 dollar monthly payment on a card whose minimum was 50 dollars could at least see a ray of hope. But take that same family and increase their minimum payment to 210 dollars, and defaulting can seem like the only feasible option. I realize that times are scary, but these companies are squeezing their marbles so tightly that they're going to end up losing them all.
Rubi

London, UK

#4 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( http://goo.gl/l0GrbF ) too my friends and family.

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