Travis Plunkett
Travis Plunkett
caught
Once you're caught in that, you're often stuck,
backwards bankruptcy barriers bending circumstance depend families federal government help hit net safety throwing victims
Bankruptcy is an important safety net that families hit by unforeseen circumstances depend upon. The federal government should be bending over backwards to help Katrina's victims get back on their feet, not throwing up new barriers to bankruptcy.
change
For some people, it's going to be not much of a change at all.
balance bill creditors debt families practices responsibility rise simply trouble whose
The bill simply doesn't balance responsibility between families in debt trouble and the creditors whose practices have contributed to the rise in bankruptcies.
accumulate clever debt increasing legitimate marketing method obvious savings seems taking
Taking on debt to accumulate savings is an obvious contradiction. It seems more like a clever marketing ploy than a legitimate method for increasing savings.
fresh impact large number ordinary people
They'll never get a fresh start, ... And over the long haul, this can have a significant impact on the economy, if a large number of people can't get back to being ordinary consumers.
extremely lucrative types
It's extremely lucrative for the insurers, much more so than other types of insurance.
kindness west wild
It's kind of like the wild west out there.
clear financial golden rule soon source talk trouble wait work
The golden rule is, Don't wait too long. Talk to them as soon as possible. Be very clear on what the source of the financial trouble is and tell them you want to work it out.
bankruptcy credit ended fashion gambling hit law people treats
The law has a one-size-fits-all approach, ... It treats people who have been hit by hurricanes in the same fashion as people who have ended up in bankruptcy from gambling or overspending or misusing the credit they were given.
bill effort either include relief serious
I think you're going to see a serious effort to include this provision either as a standalone bill or as relief legislation.
industry reaching
I think the credit-card industry is reaching a tipping point,
ability afford beyond bills breaks breathing card companies control counseling credit far minor offer people provide relatively room
If your credit card bills are completely out of control and far beyond your ability to afford them, then the relatively minor breaks that credit card companies offer to people in credit counseling may not provide enough breathing room for some people to afford a three- to five-year debt-management plan.
companies flooded gradually guidance time until waited
Most issuers waited until at least mid-2005 or later. Credit-card companies should have started implementing this guidance a long time ago. They should have done so very gradually ... That hasn't happened. But we haven't been flooded with complaints, either.