Anyone have any insights if massive credit card defaults are in the future. What happens if these happen large scale and what will a bank do to collect ?
credit cards...so I'm not educated on the ins and outs, but there is a good DVD called "Maxed Out"...that discusses our government entanglement with big banks, credit card usage and new bankruptcy laws (signed by Bush, of course) that may help answer your question...Although...if it happen enmasse, and people defaulted in great numbers...i am sure we'll be seeing something called debtor prisons...
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"I have once heard that the ability to resist temptation is the truest measure of a mans character."
We don't have...
credit cards...so I'm not educated on the ins and outs, but there is a good DVD called "Maxed Out"...that discusses our government entanglement with big banks, credit card usage and new bankruptcy laws (signed by Bush, of course) that may help answer your question...Although...if it happen enmasse, and people defaulted in great numbers...i am sure we'll be seeing something called debtor prisons...
________________________________________
"I have once heard that the ability to resist temptation is the truest measure of a mans character."
Dustin Hoffman to Steve McQueen
"Papillion"
Yikes !
Thanks.