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Bankruptcies on the Rise
listen:
  Personal bankruptcy filings in New Hampshire have gone up substantially in the last year, and bankruptcy attorneys say this is due in large part to the mortgage crisis. Many Granite Staters are filing Chapter 7 and Chapter 13 bankruptcies in order to try and avoid foreclosure. But the rise in bankruptcy filings is not being solely driven by the mortgage crisis, as consumers are heavy in credit card debt and unable to stay afloat. We’ll look at the factors behind this rise, the current economic picture and the road ahead. Guests
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Chris from Plymouth,
I got my first card at the age of 18, and it had a 19.99% APR. When I began falling behind in payments, the total began climbing into the thousands. I finally paid it off entirely a couple of years ago, but since I have noticed our cultural tendency to barrage our citizens with messages of BUY NOW and BUY OFTEN. It seems that self control concerning purchasing has become more difficult than ever.
I want to hear more consumer oriented approach. You need to hear how difficult it is for the middle-class family to provide safe housing, medical care and education for their children and how much the credit industry profits from pushing credit on people who will be charged painful rates. Filing bankruptcy is not an easy decision and I don't think you've explored how emotionally difficult this process is. Read up on Elizabeth Warren and the middle class crunch.
Ellen
After listening to today's program on Bankrupcy, I would appreciate a show with guests representing credit card companies. I would like to hear their point of view regarding why CC companies actively solicit and give credit to people who are high risk. Also, how do CC companies make money by doing this?
I'm sure I would listen to them with "a grain of salt" as I did today's bankrupcy lawyer who was clearly self-promoting. How can people who are in financial trouble afford to hire a BR attorney or accountant anyway?????
Betty Johnson,
Jaffrey