question about Consumer Credit
Question: There was another thread recently about home refinancing: I’ve been seeing this commercial on TV recently with that ex baseball hall-of- famer hawking home equity loans. You know the one. Anyway, the guy is saying “It’s that time of year again (Xmas) buy you’re still paying last year’s credit card bills. Get a home equity loan now, before xmas, when you can really use the money” !!!!
I find it absurd that someone who is still paying credit card debts from LAST xmas would be targeted to incur even MORE debt spending for THIS xmas as expressed with the “now, before xmas” wording. Their targeted market does not sound like responsible or wise consumers, but they don’t sound very responsible either. Anyway…
Answer: Oh, boy, do I agree! I was simply incredulous when I saw that commercial — “Spent too much money last year? Put yourself in even more debt, and this time, add the risk of losing your house!” But I imagine some people fall for it. The worst part is, and I hate to say this, is that my dad is employed by this company (but all he does is work with their computer systems!! Really!!).
Anyway, enough people fall for it that they’re doing business hand over fist (am I mixing metaphors?). Thank goodness no one on this list is likely ever to be in the position of going to them!
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Filed under: Home Equity Loan
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