If you are lucky enough to be Canadian and had a Chase Bank Card your debt was forgiven. That firm settles debt and by doing so phuggs up your credit but those things are left out of the Ad.
Yep. Good luck buying a car or a house in the future...
Not so much.
My wife's sister and BIL have declared Bankruptcy at least three times since 1985, and he had done so at least once before they got married.
They have purchased two newly built houses, each one within a year of a bankruptcy. After their last bankruptcy, they settled for an older home in an exclusive neighborhood, where their back yard fades into the side of a eighteen hole golf course.
Yes their interest rates are a bit higher than mine. But they have lived the lifestyle of the rich and famous on our dime for thirty years.
That's just wrong
It absolutely is.
And then there was Wifes little sister, ten years younger. She got married at 19. They rented an apartment, and got a CC, then a 2'nd, and a 3'rd, and a 4'th. And then a new Toyota pickup in 1986. They traveled from Boise to Seattle on multiple occasions, where they attended art galleries and made purchases to decorate the walls of the apartment. They purchased bedroom sets, and dining room set, and entertainment system with high end audio equipment.
And then they declared bankruptcy. Their entire debt load was erased, and only the Toyota was repossessed. They were left with every item they had stolen from the CC companies.
There is the real crime.
The CC companies should send repossession squads to every deadbeat's house to gather every item they ever purchased on the card. They could either haul it all to the dump, sell it at auction, or burn it. That does not matter, just take the profit out of being a deadbeat.
And in cases like this, the perps should be prosecuted for fraud and imprisoned. They knew they would never be able to make the payments on the CCs before they made the purchases.
