Credit card application may cost you your proper pride!
Vulnerable people and credit cards should never go together! Low of fixed income put you at great risk of losing the little you have when you apply for a credit card and start spending and paying interest on it. It is no news that individuals exposed to financial instability may lose almost any belongings and real estate due to enticing credit card applications solicited by banks and credit card companies.
But under the soon coming new legislation, the abuse of credit card bill payments can punish you on an unprecedented scale. What can be worse than losing your money when at a low income or in unstable job? It is losing your proper pride when, once you are unable to pay for your best reward credit card or credit card with no fee or credit card with initially low interest rate, you face a rough intrusion into your home exercised by bailiffs – quite a legal action soon.
Just imagine that more and more officers will have the power to compensate for the unpaid credit card bills through forcing credit card debt repayment and seizing your belongings for that!
The new law has become a burning issue among the ruling groups and the British government is persistently encouraged to apply such a terrible measure as forced entry in a deadlock. They also demand that it shouldn’t be vulnerable people subject to pay such high price for a credit card application once completed but really guilty debtor whose unpaid credit card bills are the result of willfulness and neglect.
But as things are today, an unpaid credit card bill is going to be the only pretext and excuse for bailiffs to break into your house and do arbitrary rule there. A recent investigation reveals cases when bailiffs exceeded their powers and acted as a law themselves. The free will they applied affected people’s lives and took them to greater debt and poverty.
When the bailiffs try to get you pay off your credit card debt, they threaten to call the police, accuse you of assaulting them, list the property they can take from you unless you pay them a sum. They can continually call on you or phone you reminding you of your credit card debt even though you are paying it off at the moment. Bailiffs can even threaten you with imprisonment!
And all this arbitrariness is going to be blessed by the law!
Surprisingly enough, but despite the new coming law exposing vulnerable people to such a high risk, credit card applications are still growing in numbers and lots of self-profit credit card offers are such a lure to consumers lacking credit education.
They look for credit cards to improve their financial standing and manage money effectively but they find their lives ruined as a result of their credit card application even if it is the best credit card from the best bank or credit card company. Does it speak then of the fact that customers with low or fixed income are not eligible for a credit card, the most convenient and effective money management tool of today?
Not necessarily so. Credit card applications should be available for all credit consumer categories, be it a business or a student with good or bad credit history. Then, when it comes to forcing credit card debt repayment, vulnerable people shouldn’t be victims of their dignity abuse as they really face credit problems due to lack of resources. They should just be properly educated before applying for a credit card and then helped out of debt with special credit card offers or debt management plan.
Enforcement of credit debts and forced entries should be applied but applied properly and reasonably! Punish customers who deliberately abuse credit card laws and are not willing to repay – they are the main source of the national credit card debt growth..!