Old Project Avalon Forum (ARCHIVE) - View Single Post - Suze Orman and the New Rules of Credit Card Debt ~ Pay the Minimum

Northern Boy · 04-04-2009, 05:11 PM

if you have to make a choice between the credit card bill or buying food do the right thing and buy food . Credit card debt is unsecured debt and as such there is nothing they can do about it . They will report you to the credit bureau and thats about it. The card companies are now taking steps to protect themselves by calling consumers up and asking them to buy insurance so that if you lose your job they will have an insurance company make your payment for you . What they don`t tell you is that in the event of you losing your job they will only cover you for the number of months that you have been paying for the insurance so if you had insurance for 6 months then you get coverage for 6 months

04-04-2009, 05:11 PM	#3
Northern Boy Avalon Senior Member Join Date: Oct 2008 Location: On this Rock Posts: 1,390	Re: Suze Orman and the New Rules of Credit Card Debt ~ Pay the Minimum if you have to make a choice between the credit card bill or buying food do the right thing and buy food . Credit card debt is unsecured debt and as such there is nothing they can do about it . They will report you to the credit bureau and thats about it. The card companies are now taking steps to protect themselves by calling consumers up and asking them to buy insurance so that if you lose your job they will have an insurance company make your payment for you . What they don`t tell you is that in the event of you losing your job they will only cover you for the number of months that you have been paying for the insurance so if you had insurance for 6 months then you get coverage for 6 months Last edited by Northern Boy; 04-04-2009 at 05:15 PM.