How Much Is Enough {interest}??

I've got and have had for awhile choking credit card debt.

 

I was wondering if the Banks' CEOs reads Bible. Check Matthew 18:23-35, which it speaks of having been forgiven by a debtor [say the Government], a forgiven slave [banks] refuse to forgive their debtors - us 22% interest paying slave debtors - and loses every forgiveness {Gimmee back ALL the TARP $$ - with interest! OR forgive MY debts, on what I 'owe' the cards. Or we'll call it even from here - NO debts }

Elsewhere in Matthew 25:14-27 it appears doubling is about right, thus 10x or 100x is excessive profit and the "love of money" being the "root of all evil"  is exemplified. Every time you reach a point where you've made twice the amount you borrowed in payments of principle and interest combined I think you don't need to pay more irrespective of HOW much the credit card [which dominates what you pay] WANTS. What say you?

freeed freeed
66-70, M
5 Responses Feb 13, 2010

What happened to the concept of saving up to purchase what you desire and avoiding debt?

Corrupt politicians bribed by banks made the usury laws disappear. Remember when credit card interest was a TAX DEDUCTION?

A long time ago in an America far far away there where usury laws.

Couldn't agree more! It's just numbers on a screen & it's nothing short of theft.

Very well said freeed.

Yeah, isn't that interesting. They were bailed out by the government and were 'forgiven' for their mistakes, yet they won't do that for the people who owe them. Very interesting thought freeed.