Erasing Debt?

[SteveSS]

I understand Chase Bank is erasing all credit card debt for its Canadian credit cardholders. While this seems magnanimous, I just don't get it. Several politicians are willing to wipe out student debt.

What about us? The ones who are careful with our money? I sucked it up and pad for my kid's education. I've never had a serious credit card bill. Now in light of these actions I wish I incurred a hefty debt! Why do they get a pass?

 

[QuickBpBp]

I understand Chase Bank is erasing all credit card debt for its Canadian credit cardholders. While this seems magnanimous, I just don't get it. Several politicians are willing to wipe out student debt.

What about us? The ones who are careful with our money? I sucked it up and pad for my kid's education. I've never had a serious credit card bill. Now in light of these actions I wish I incurred a hefty debt! Why do they get a pass?

I heard his today. They normally sell off that debt but chose to eat it.. If you have would have credit card debt you would have to pay for it as this was only done for Canadians.... Nothing is "free" someone has to pay for it. You did the right thing and can sleep well at night....

 

[Bb70charger500]

Man I stayed away from c.c. as not to screw myself .
I have one . For emergency s I will use it and pay it off end of month . Well stuff got tight had to use it more and didn't pay attention to it someone helped them selves to my card and I didn't catch it nor did chase .
Chase says there's nothing they can do for me I said well thanks for your help good luck collecting

 

[Don selleck]

its bullshit, way too many handouts today, makes people lazy.

 

[zyzzyx]

from what I understand they wanted to stop servicing the Canadian market,
and the only way to make a clean break was to stop everything and "eat" the debt.
Yeah, I wish I could get away with that!

 

[ESOXER]

This is like hitting the lotto for a lot of people. I just got my first CC and only got it to boost my credit. I just paid off the homestead and having no revolving payments makes it hard to get a loan if I need one. I'm 37 and alot of my friends about my age actually cashed out their 401k to put down payments on the houses, I tried to talk them out of it but nope. Their choice. I hate owing or paying loans.

 

[Budnicks]

Why the hell is Chase
wiping out all credit card debt for Canadians ?

I'd bet their investors & stockholders
aren't good with any of that

What the hell, is it they can't pay, their credit card bills ?
maybe even, why just Canadians ?

why should Chase, wipe out debt people incurred at all ?
they spent it, they are liable & responsible for it,
maybe just don't don't spend it if you can't pay for it !!!
fucken' logic, would dictate that simple fact

something sounds like a buyoff/bribe for/of some sort of favoritism
(probably some politician/douchebags, so they can do/build something in Canada)

I say you got yourself in debt,
you should have to pay it back !!!

like I have done my whole life,
like most people with good credit all do
nobody ever helped or bailed me out !!
I busted my ***, I would always worked extra hrs
just to be able to pay for my bills, feed my kids,
pay for materials etc., pay for all my cars, pay for my houses,
pay for the credit cards, pay my taxes etc. etc. etc.
(let alone my kids education, books, shoes, cloths etc. etc. etc.)


I'm certainly not wealthy/considered rich (smart financially maybe)
I own all my own stuff, houses, cars, trucks 'all outright now', too
no loans at all, no carried over debt (rarely anyway)
I pay my cards off every month, pretty much always have too
probably why I have a 800+ credit rating...

It's not easy but I do it...
You have to set a budget within your own means...
You can't pay for or pay it off in a couple months,
Unless it's a house/real-estate or a new car, big ticket item etc.
you probably shouldn't be buying it, if you can't pay for, pay it off,
in a short timeframe, you're living beyond your means...

I especially hate deadbeat debtors, that want to be bailed out...
(especially student loans)
Own up to your commitments...
Part of being an adult, a real responsible adult...

 

[DeltaV]

Maybe the government of Canada will tax the card holders for the windfall that fell in their laps.

 

[Budnicks]

from what I understand they wanted to stop servicing the Canadian market,
and the only way to make a clean break was to stop everything and "eat" the debt.
Yeah, I wish I could get away with that!

Maybe the government of Canada will tax the card holders for the windfall that fell in their laps.

 

[5.7 hemi]

Wow, have a car loan with Chase, for that new Ram 3500 Laramie, now it’s all paid for! Hope Canada taxes those people for the amount owed.

 

[Jerry Hall]

I understand Chase Bank is erasing all credit card debt for its Canadian credit cardholders. While this seems magnanimous, I just don't get it. Several politicians are willing to wipe out student debt.

What about us? The ones who are careful with our money? I sucked it up and pad for my kid's education. I've never had a serious credit card bill. Now in light of these actions I wish I incurred a hefty debt! Why do they get a pass?

This is the mindset of some people. They think they should be forgiven for their credit card debt and be able to start over. It's instilled in them with all the commercials on TV that start with: "If you have 10,000 or more in credit card debt call 1-800-***-XXXX."

 

[gkent]

Chase decided to get outta dodge over a year ago. To the best of my knowledge, card holders could no longer run up debt but still had to pay down their balances. So making just the minimum payments over the past year would have lowered outstanding amounts considerably. Any remaining amounts would be a drop in the bucket for a company the size of Chase and the cost of collection probably exceeded the outstanding amounts. The only ones left with any significant amount owing after a year are probably low lifes that run up debt on every card they can get hold of and Chase would probably never get that back anyway. Suck it up guys, **** happens.

 

[gkent]

Wow, have a car loan with Chase, for that new Ram 3500 Laramie, now it’s all paid for! Hope Canada taxes those people for the amount owed.

This is not about bank loans, its credit card debt. And how would the government ever know to tax you on the amount owed anyway ?!?!?

 

[slimt]

Im up here in Canada and this is the first I have read on this . I dont see me being forgiven on CC debts anytime soon.

 

[gkent]

Im up here in Canada and this is the first I have read on this

well try and keep up, eh !!

 

[slimt]

well try and keep up, eh !!

True enough.. eh..

kind of hard when our Fudge packin PM is Given away our money like it was his own..

 

[5.7 hemi]

Ah, credit cards. I was thinking ALL Chase types of credit.

 

[gkent]

There's a lot of whining going on here ... you'd think you'd be happy for a guy who got a free crate hemi ;-)

 

[44070dart]

Credit card debt is a killer.. if you have it find a way to get rid of it anyway possible. Banks are crushing people with these interest rates of 12/18 % or more when prime is so low. Went through it in the 80's >> NEVER again.

I play them now. Got a credit card in the spring that paid me $500 if I spent $3,000 in first three months. We put everything on it and got $500 free from them. Also recently had a major expense (furnace and A/C unit) and the week before install I got a card offering 3% rebate for the first year. That 3% knocked of $270 from my bill and I have a year to pay off balance at 0% .. Little payback to them ********..

 

[Hey-O]

The CC was created to get you buy at a particular story and owe to a particular store. Worked so well as far as getting people in debt for **** they can't control themselves from buying they created a CC you could use everywhere. Back in the day the interest on your card was tax deductible. That didn't work out well for the government seeing how most people use it as a free money machine. They look at it as losing money, on money that was never theirs, but, just the same money they're losing a chance to screw you out off. Big CC companies make sooooo much money on carried over monthly credit charges they have money to burn, 15 percent, 20 percent and if you're real bad at using one, they let you use it at 25 percent!! Back in the day that was called loan sharking and you went to jail for that, now it's a game called hide the weenie. I use a CC for EVERYTHING I buy and pay for, screw them, use their money, collect points and rewards, build credit, and if you have a problem with a product or company they help you out. I write one check a month to pay them off and I'm done. There is nothing for free and beside all the money made off the Canadians, it was a good time and any loses, they can just charge us a percent or more and make it up. Do you think they could do or think of doing something like that if they were only making the the few percent they charge the store so we can use the card to buy stuff and pay it off every month....... I think not. It's like those beautiful college loans they pass out at 3 to 8 percent that are meant to keep you in debt, not help you out. If it was to help you out it would be 1 percent. Right now those loans are one off the countries biggest cash cows, but, that's another story.