Am I evil for thinking of doing this?

[whottt]

Wow, if you are eveil for thinking that, I was thinking we shouldnt pay our mortgages. See if congress would be as willing to help us as they are these rich folks. Imagine that, now that would send one right up our gov't ass.

They'd take your home from you quicker than you can bat an eyelash....and you'd most likely lose your equity.

[fyatuk]

2. Every American decided not to pay on their credit cards for 60 days?

I haven't paid my credit cards in 60 days. Combination of stress related bill forgetting and my brother bumming $1200 to pay his rent.

[SnakeBoy]

the credit scores. the the FICO scores. the banks. Debt free living is the way to go.

[byrontx]

From another site. I really liked it.

Dear Wall Street Executives,

Hi, this is the lobbyist for a group called The Taxpayers, Debtors, and Insured People of the United States. Now that we've rejected the first bailout plan, I'm sure that in the spirit of tough, free market capitalism, and spirited negotiations, you'll consider our second offer. Here are some terms that I'm SURE you will find reasonable:

1) We are willing to loan you money at a very low, introductory rate of 8.9%. If you are even one nanosecond late on your payment, your rate will go from 8.9% to 32.9% instantly. You will have no right to appeal this. The interest rate increase will be retroactive. None of this "but I mailed it out Friday" nonsense. We must get it, and the check must clear, for your payment to count. A reminder: transactions that occur after 2pm are not credited until the next business day, so be sure to make your payments before then.

2) If you are late on any of your other payments to your other creditors, your rate will also be ed to 32.9%. I know it has nothing to do with us, but if you are late paying someone else, then OBVIOUSLY you are a bigger credit risk to us.

3) We will send you onerous terms and conditions 148,000,000 pages long in 6 point font. Of course, those terms can change on a whim, at any time, so we'll be sending you hourly updates to the contract, which we expect you to read and keep up with. Sorry, we will be the only ones that can amend the contract; you cannot.

4) You will have a predetermined credit line, and if you go over it by even $1, your interest rate will e to 54.9%. Sorry, it's in the contract on page 109,209,392.

5) The bankruptcy laws have now changed. If you get into a bind, I'm afraid you won't find much sympathy; no more silly excuses will be accepted. We are going to have the les to all of your buildings and physical assets put in our name, so when the inevitable time comes and you trip up, we'll simply take everything from you. There will be no court hearing.

6) We'll be conducting a background check, driving records check, drug test, and disease risk check of all of the top executives of your firm. After all, you're a riskier loan if you have any of those afflictions, aren't you? Well, if we find ANYTHING wrong, your interest rate will skyrocket, instantly, and without notice.

7) If your business is located in a "bad neighborhood", or a "poor city", or a "hurricane zone", or "flood plane", or "terrorist targeted city", as defined by us, we can raise your interest rates at any time, to any rate we choose.

For the last quarter century or so, you've imposed these terms, or some variation of them on us, when loaning us money or insuring us... arguing every single time that it's "necessary" and that these sorts of changes "will result in more profitable companies that will pass the savings along to consumers". Well, now that we're in the role of lender, and you're in the role of borrower, we're sure that you'll find these same terms fair.

Wall Street, prove the cynics wrong and accept our new plan. Prove to everyone that you're not the hypocrites that everyone thinks you are.

Best regards,

THE TAXPAYERS, DEBTORS, AND INSURED PEOPLES OF THE USA


Offer not valid in all 50 states. Terms, conditions, and interest rates subject to change at any time without notice. Borrower subject to intrusive credit, background, education, and criminal checks before issuance of loan. Upon any dispute, arbitration will be decided by someone tilted to rule in favor of taxpayers, and not by any indepedant or otherwise objective authority.

You Do remember us, exhausted and angry people of US of A
__________________

[ElNono]

From another site. I really liked it.

Dear Wall Street Executives,

...

You Do remember us, exhausted and angry people of US of A
__________________

That was funny. What is not funny is the letter I received today from GE Money indicating they're raising my interest rate on a card I have from them to 29% effective immediately. And I paid the bills always on time and what not.
Good thing I only owe $150 on that one. I'll be paying it off as soon as I get the next statement...

[Bartleby]

the credit scores. the the FICO scores. the banks. Debt free living is the way to go.

Freegans of the world unite!

[Tully365]

It's one pretty obvious indication of this country's main problem when carrying debt in many instances will get you a higher credit rating than paying it off and being debt-free.

[BacktoBasics]

That was funny. What is not funny is the letter I received today from GE Money indicating they're raising my interest rate on a card I have from them to 29% effective immediately. And I paid the bills always on time and what not.
Good thing I only owe $150 on that one. I'll be paying it off as soon as I get the next statement...

Don't wait for the statement. Make the call now and pay it off.

[BacktoBasics]

It's one pretty obvious indication of this country's main problem when carrying debt in many instances will get you a higher credit rating than paying it off and being debt-free.

I'm not sure why you would say that. Sure paying on a debt for a length of time can be beneficial because history plays a part in it but with a solid history and no debt you're way better off than having balances on the books.