Friday, June 17, 2011

should we care if people dont pay their debts

first of all i will give credit to instapundit for this
yes i do care if someone doesnt pay their debts because in some way it will affect me.
when my daughter moved to california i was in a debt management program. years of raising a daughter on a single mothers budget and medical bills not covered by insurance left me with debts that were devastating me. i went into a debt management program and was put on a budget.
when she needed me to cosign for a lease, the manager told me it was between me and a man who had declared bankruptcy. at that point my credit score was crap. i told him i was a better risk for i was taking the responsible action towards my debts, and the man who declared bankruptcy was eluding his debts. i also told him i knew many people who declare bankruptcy tend to be repeat offenders and he would be likely to skip his rent if his financial situation didnt suit him.
he did not rent the apartment to my daughter
since then.. 8 years ago, i have lived without a credit card and pay everything i buy with cash. i have been debt free except my mortgage for years and my credit score is excellent. and i am financially solvent. well, as long obummer doesnt take away what little capital i have left

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