Wamu-biggest Bank To Fail In Us History!

[HALEY]

Originally Posted by gja1000

Yes! I'm convinced that many people KNOW they won't actually have to pay back the loans. Just listen to the commercials for debt reduction, e.g., "YES, you will only have to pay back pennies on the dollar of what you owe"!!! I hear that several times a day on both radio and TV. So, why in the world would people think they will really have to pay back the loan, when they hear that they won't. Also, anyone can (well could) get a loan, you hear those commercials too - "You CAN buy XXX even with bad credit!" I hear that too every day - so why in the world are we surprised that we are in this mess.

Gayle i thank God for my sister and mother everyday, for teaching me how to save and manage my money, i remember the first credit card i got i maxed it and went out and got more credit cards, i had about 5 of them, all with balances and a 5.00 an hour job, i was in tears didn't know how i was going to pay them back, my mother took all my credit cards and cut them up, and showed me for the first time at the age of 18, to manage money, it took me two years to get those credit cards paid off, still today, i have one credit card now with a balance on it, and have two back up ones with zero balance on it... I like to pay cash but sometimes you can't but always make sure you have the money to pay them off when the bill comes in... My mother never had a credit card in her life and she still to today don't own one...