Comments on: Late Loan Payments Hit Record High

3Q Delinquencies Hit Record Levels For Indirect Auto Loans And Home Equity Lines Of Credit

[tincup356]

It doesnt take a rocket scientist to figure out...The middle class is going broke by the day...Our governments wars on everything have just about brought us to our knees...sending the price of everything out the roof......Big oil is still gouging hard at the pumps and it eats into the cost of everything ......Credit card companies are making billions off of late fee''s alone....not to mention rates up to 29%...after getting loans from the government at 1/2 to 1 %.....how is that helping the economy?...It isn''t, it just causes more strain where it is needed the least...the middle class.Greedy basturds.

[nothappyatall]

Why were busboys anf gardeners given those home loans again?

Posted by surreal64

Because they had JOBS, a steady work history, lived int heir residence for at least 3 years, never had a bankruptcy or collections action etc etc, THEN they LOST their jobs OR a sudden medical bill wiped them out.

[debinok1]

I saw this coming for years. Saw house prices in my area skyrocket. Saw more and more people getting hooked on more and more credit cards. Saw wants become needs. Bigger cars, bigger houses, bigger TVs always bigger better newer something. While Bush policies made this possible, the American people made it happen. This is the by-product of credit living.

[surreal64]

Why were busboys anf gardeners given those home loans again?

[trillion1]

smt is an idiot troll. We are conservetive and he is an embaressment. We voted for Obama because Ameraca can no longer endure people like him.

[tmittelstaed]

Now the wealthy are seeing the systems they have put into effect to transfer money to themselves begin to eat into their own wealth, and they are scared. That is what this government bailout of Wall Street was all about.

[caddillackid]

I AM A REBULICAN BECAUSE WE ALL CAN''''T BE ON WELFARE. SOMEONE HAS TO WORK FOR A LIVING posted by--smt1013

First of all I would''nt tell anybody that...it''s nothing to be proud of pops, especially after your stupid cowboys leadership past eight years. Take 8 years of Clinton, 8 years of Bush...under which administration did you have the most money? So don''t go putting down anybody, if you wanna put someone down, anyone in your party will do. Your right, we cant all be on welfare, If your party stayed in power, we''d all have to be. Jerk!!

[tmittelstaed]

I am also a Democrat who pays his bills and the only debt we carry is the mortgage on our home. But I am not as foolish or boastful as some on this forum. I know our household expenses and income - and if I was out of work for a year it would severely harm us. There is nothing that separates me from a lot of people out there other than having a paycheck.
People don''t seem to understand that these days so very many jobs in the US economy are present due to structural decisions made by government. When the laws were adjusted to make it cheaper for companies to outsource labor to foreign countries then most companies did so - and the ones that refused (more than you think, by the way) were driven out of business so it didn''t matter that they may have resisted in the long run.
The only reason that today there''s interest in the government in fixing the mess is that the rich people are now seeing their own wealth starting to go away. But for the last half-century the wealthy have arranged with the government to move more and more of the nation''s wealth away from the middle class and into their pockets - they have been doing it for so long that they basically forgot that eventually the regular people won''t have anything left to take away.

[cbscrash072]

I considered letting mine slide just to see if the government would rush in to pay off my mortgage. I know a lot of people were thinking the same thing but I don''t know how many followed through with it. I wonder if any economist have considerd that people know things will get cheaper here shortly and that they can make them even cheaper by waiting out the retailers. I''ve been doing that for a while now I put all my Christmas purchases off to the last minute and saved a lot of money.

[newo2000]

Correct... "charged off" is an accounting term which has no bearing on the fact that the debt remains valid and collectible... bankruptcy laws were amended, but they still work fine... call your local bankruptcy lawyer for the help you need... the good ones only are concerned with what is best for you...