Quote:
Originally Posted by ThatOtherGuy
RocHard what was "The Reality Bitch Slap"? They lost there jobs?
Thats not a bitch slap. They were expecting to maintain middle class jobs. There jobs crapped out on them and boom, they fail. If you have consistant income the credit would not be the problem. Increased rates on cards could be a problem but arrangements can always be made with creditors so long as income is consistant.
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No, you missed the entire point. They were "barely middle class" yet they were living like they were multi-millionaires. The only way they could afford to do that was by pulling money of their house every year.
Americans do this all the time - the live beyond their means. Before I went to college I was doing the same trying to maintain a huge car payment plus insurance plus renting a house.