Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question who are making bad credit loans? if so many of us americans have bad credit, who are getting loans and where since we parade around the world telling and showing everyone outside the us we care and here's a blank check By Ray S Posted on 09/05/07 Total Answers 5 Answers- Who are making bad loans; most Americans. We are all over extended and most Americans have more credit card debt then savings. The variable rate mortgage rates have ruined a lot of American home owners. The Federal Reserve has a history of steadily increasing the interest rate over the last five years and each point increase translates to hundreds of dollars more to the people who have to pay their mortgages. This made great sense when the interest rates were dropping, but they make no sense now that the interest rates are increasing. Ask any college student where the parade of credit cards start and they will tell you it starts in their mail box as they receive offers from dozens of credit card companies before they have even graduated. They typically have crystal clear credit records, but almost no credit history; maybe a savings account. The blank check is the one that is typically written by the Federal Government which operates in a debt of Trillions of dollars and considers it a major feat if they submit a balanced budget; that doesn't increase the national debt. A lot of that debt is to ourselves in the form of Treasury Bills and Savings Bonds. Meanwhile the US government just keeps on getting deeper in debt to itself, the rest of the world and its citizens. Answer by : Dan S On Date 2007-09-05 16:51:46 "... so many of us americans have bad credit ..." I know a lot of people have bad credit but I sure hope it isn't most. I hope most Americans pay their bills on time, even if they have a lot of debt. There's a big difference between bad credit and debt. Answer by : bdancer222 On Date 2007-09-05 17:15:39 i strongly disagree yes we have people in debt and we have some folks in debt over their eyes but overall you will find that a greater percentage of the folks are great money managers and are on a smooth road to success!!! but just because people get greedy and try to be the system and the system fails like the Arm loans which i peach against all a long but it was like paddling upstream -- than it is easy to blame the banks, govt or someone other then themselves!!! Answer by : ed m On Date 2007-09-05 17:46:26 where there is demand there is supply. Answer by : tina On Date 2007-09-06 07:12:59 Not sure of your question. But what I do know is that most credit card companies are making bad loans and making up for it with high interest rates. The people who are getting the loans shouldn't be approached, but congress is afraid of passing such laws to protect companies. Answer by : steve g On Date 2007-09-12 14:35:59   Go Back To Search Results