Arghh!!…They gave me 17 year old nephew a credit card
Question: Since passage of the new bankruptcy laws, predatory > lending no longer resides on the unsavory fringes of the credit > industry, it has been sanctioned; granted legitimacy by our own > government…to the sickening shame of every thinking citizen.
> Loansharking vampires walk in the daylight in this country now.
>I find the fringe banking scene, especially the paycheck-advance shops >and chack-cashing services, disturbing.
I do too. But unbridled greed is the name of the game in an unregulated (or too little regulated) capitalist society.
Answer: Obviously you haven’t had to open an account anywhere recently. Banks are pretty picky about who they give checking accounts to. You not only have to have a SS # and usually a minimum deposit of anywhere from $250 to $1000 (depending on the bank), you have to pass one of their screenings for credit. If you have bad credit it’s entirely possible for every bank in town to refuse to open you an account. And not all people with bad credit are evil, scum-sucking, greedy, idiots.
I’ve been in that situation after a business I owned tanked. I couldn’t get any bank in town to open an account for me. I wound having an account at my parents bank by having them open an account and making me a signer on it. The bank would allow that because then they were responsible for any checks I bounced or fees I incurred (which I never did, but that was the thought behind it). Once I got my business affairs straightened out and spent a year working on my credit I was able to open an account in my own name and move on. Some people, however, simply don’t have that resource available to them to get them out of a tight situation.
Don’t judge others necessities until you’ve walked in their shoes.
Related Posts
Filed under: Bad Credit Loan
Leave a Comment
XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
TrackBack URL | RSS feed for comments on this post.