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what sort of regulation would you propose that would protect these people from themselves. should there be legal restrictions on credit for people with poor money management skills or something?

Isn't the problem here that the CC issuers are trying to recapture money from people that have declared bankruptcy, because they have lent to people who are poor risks?

It seems to me that if the CC's are forced to take their losses that came from bad loans to consumers, perhaps they would be less willing to make risky loans in the future. Right now, they are trying to charge punitive rates and reduce/eliminate the risk of the loan.

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