[quote=stockstradr]I have had this actual conversation with multiple friends and relatives. This is America’s story. This is unsustainable.

Me: “Hi, just calling to say hi and ask how’s it going?”

Friend: “Oh, great, I’m out shopping right now?”

Me: “Shopping? I thought you lost your job?”

Friend: “Well, we have some extra money”

Me: “Extra money? Where’s your money tree?”

Friend: “Well, you know I stopped paying our mortgage two years ago. Those darn banks deserve nothing after they manipulated us to sign their liar loans. So we’re living rent-free.”

Friend: “Plus we stopped paying our credit card bills. We had racked up about $50K, but those darn banks deserve nothing ’cause they charge too high interest rates”

Friend: “Oh, yeah, plus we got an extension on my unemployment”

Me: “OK, I see. You’ve got extra money to spend. Great.”

Friend: “It seems so!”

Me: “I guess that’s why the economy shows signs of recovering?”

Friend: “I don’t worry ’bout all that economy stuff; I just know we got some extra money to spend now. Gotta go, arriving at Macy’s now…”[/quote]

Time to get new friends…Either now voluntarily, or by force, once your spouse finds out you have friends like these 🙂

I’m not surprised at all. Frankly…But no matter. Once the CC are racked up, you can’t exactly just walk away from that. It’s funny that right now, folks are more concerned about paying CC bills than mortgages because how screwed up the bankruptcy laws have made these CC debt more ominous than walking on a mortgage….