This pandemic could destroy the credit of a lot of people who cant make the payments
Roger that. It’ll be a great time for chapter 7 attorneys.
Excellent point. The hundreds of thousands of well paid auto manufacturing workers who suddenly lost their jobs when the Michigan and other rust belt states shut auto plants (due to foreign competition) must have had that happen a lot. From top pay and benefits to behind in bills and then thousands of home foreclosures.
Article said:
When the Great Recession hit the U.S. in December of 2007, state economies buckled. But in the four years preceding it Michigan was the only state to lose jobs overall. The state lost 148,100 jobs from 2003 through 2007 while the U.S. added 7.6 million jobs. Over the entire decade, from 2000 to 2009, the state lost 805,900 jobs, or 1 in every 6 – a 17.2 percent reduction in employment. ---CapCon,Oct.14, 2014 by Tom Gantert
Why is it that government must do this.
Let the businesses and the creditors work together. Cripes this is why people can’t function, they all sit back and wait for fuching govt to bail them outnof their problems.
When do we get some of their profit? All we seem to get is bailing out their bad decisioms. Never get anything from their good decisions.