No. of Recommendations: 0
I don't have a problem with making it harder for people to file bankruptcy, but it should be harder for them to get themselves in trouble with credit cards as well. As we've seen on this board and the one on AOL and the Oprah show, one of the cc's favorite targets are college kids who have little or no income. What do they base the credit limit on? Neatness of the completed application?

I also agree that there should more emphasis on personal finance education in the public school system. How about having the cc's win on making it harder to file bankruptcy, but they have to commit so many $'s to fund personal finance education in our schools? Seems to me that this would help insure them against losing money in the future. Of course, they would probably not agree to it, because it's also going to cost them money, when people understand how much they actually lose to finance charges!

I'd also like to see a higher minimum payment required, as I firmly believe this would help prevent people, when they get their first credit cards, from going too far into debt. Something like a $50 minimum due, or 10% or 15% of the balance due every month - whichever is greater.

I do have a friend that filled for bankruptcy two years ago. He was about $20K in debt, most of it in medical bills. He had figured it out that it would take him 10 years to get out of debt, while this would only be on his record for 7. That's why he filed.

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