New Bankruptcy Bill Passes.

Heard about this new bill just today. And I tell you what I'm a little concerned. I totally understand the reasons why they want this bill. To stop people from abusing Bankruptcy courts. But for the life of me I don't understand one thing. Ok you now have protected Credit Card Companies from People right? But why doesn't the Bill also protect People from the Credit Card Companies?

I don't know about you, but not a day goes by were I don't get a Credit Card Offer in the Mail. Now when I was younger.. And dumber. I fell in the Credit Card Trap. You know the $5,000 Dollar kind.. For some people its even more. Now we all know we have to take responsibility for our actions. If we borrow the money we should pay it back. Totally understand. But when is the Credit Card companies going to take responsibility for Giving out credit? They give it out to the younger crowd like its nothing. Ask yourself why do we have SO many Credit Help Centers around the country? Because people abuse Credit!! And the Credit card companies are happy to Let you. And if you have to pay $20,000 Dollar credit bill for the next 20 years.. Oh well!

So yes, I'm a little concerned about how this bill was done. You protected the Credit Card Companies. But not the people that borrow. We all done it. Something bad happens in the 20 years its going to take to pay that $20,000 and your soon over your head.

I find it kind of sad, and a little disturbing that I actually am on the Democratic side on this issue. I have no problem making people responsible for their actions.. But the bill should of also made the credit card companies more responsible in giving out credit. But then again, that's what they want. They want you to borrow as much as possible. Pay them for the next 20 years. So I find that in this latest Bill to be passed, that's a +1 for the Credit Card Companies. And a -1 for the Borrower. Way to go.