
...if this billboard makes sense to you.
Look. It isn't hard. You BORROWED the money. IT ISN'T YOUR MONEY. It's the lender's. And if you spend the money, whatever you spent it on is ALSO the lender's until you pay the money back as you AGREED to. That is how mortgages and loans WORK.
What part of this is difficult to understand?
Yet if you watch daytime television or listen to radio, you are bombarded with ads like the above, that suggest you are being victimized because the people who gave you money in good faith object to your welshing on your agreement. Most of these ads are from law firms and financial companies who specialize in whatever the latest financial hustle is, whether it's signing you up for credit cards you really don't qualify for or high-interest 'payday advance' loans or subprime mortgages you can't afford to pay back. Most of these ads these days openly use Obama's name to tell you that it's your 'right' to force your lender to write off some or all of the money you borrowed.
Now seriously, what do you think their incentive is to lend in the future? What do you think YOUR chances of getting financing are in the future when a lender pulls up your credit check and sees you took advantage of these 'services'? Makes you look like a reliable candidate for a loan, doesn't it?