Is it true - the more people file, the less strict?

[Scream2Death]

just curious that if more people file, due to the load - creditors/trustees/etc will be less strict? thanks

[AngelinaCatHub]

just curious that if more people file, due to the load - creditors/trustees/etc will be less strict? thanks

Perhaps, but I would not bet on it. Play it safe, and go honest. (not meaning you would not).. They are sharp cookies and the more they have, the more frauds they will have by percentage. It just may work the other way. Don't take any chances. 'Hub

[percy]

I think right now with the economy as bad as it has been they are probably a little less closely at cases simply because they are overwhelmed and also because they know just how bad it is out there, but as Hub said I certainly wouldnt use that to try and pull any shenanigans, the Trustees know what to look for they are trained well and its not easy to get things passed them but YES, there is no doubt in my mind that they are moving cases a long a little faster right now because of overlaod as opposed to a time when BK numbers drop and they have time to nitpick a little more but there is no doubt right now a lot of BK filers are getting a little more leeway, the trustees know how screwed up everything was with all that free credit being handed out to those who couldnt afford it and then interest rates jacked up after people were lured in.

Take me for example I live on disability of 900 a month and chase handed me a card with a 20,000 limit and I didnt LIE at ALL on my app, told them I was on limited disability income and my card had a 20k limit, thats completely freaking irresponsible of them. I am not innocent in charging on it but there is no way they should have given someone in my situation that kind of credit line, its stupidity. They knew I had no money and no assets.

[leena]

Take me for example I live on disability of 900 a month and chase handed me a card with a 20,000 limit and I didnt LIE at ALL on my app, told them I was on limited disability income and my card had a 20k limit, thats completely freaking irresponsible of them. I am not innocent in charging on it but there is no way they should have given someone in my situation that kind of credit line, its stupidity. They knew I had no money and no assets.

I might add that really, just when the bleep did they come up with these cards with 20K limits?! Seems I started hearing about them maybe 10 years ago. I mean, extending an unsecured loan (which is all CC's are!) of that size to anyone regardless of how good their credit rating might be is actually nuts!

In the 1980's, it was rare to hear of any card with a limit much more than 5-6K. You had to be making a pretty good income and have a very high credit score to get that, even. Limits higher than that were pretty strictly for high six figure earners, and I do know that for a fact because I worked in a telebanking center for a major bank back then, and that bank was considered more wild and free with the Visa/Master limits than many others. I guess they got too greedy.

[percy]

I might add that really, just when the bleep did they come up with these cards with 20K limits?! Seems I started hearing about them maybe 10 years ago. I mean, extending an unsecured loan (which is all CC's are!) of that size to anyone regardless of how good their credit rating might be is actually nuts!

In the 1980's, it was rare to hear of any card with a limit much more than 5-6K. You had to be making a pretty good income and have a very high credit score to get that, even. Limits higher than that were pretty strictly for high six figure earners, and I do know that for a fact because I worked in a telebanking center for a major bank back then, and that bank was considered more wild and free with the Visa/Master limits than many others. I guess they got too greedy.

I absolutely agree, but that is the truth of it, my freaking limit was 20k, nuts indeed.