Corporate America is doing it again and again and still no one cares. They allowed us to have a credit card from just about anywhere and charge just about anything till our foreclosed houses were full of stuff and then they charged us late fees and raised the rates to double digit interest on some crap we don’t even remember buying that is now costing us the price of gold and diamonds. They even sold wallets that could accommodated about 20 cards at a time. Now we have no credit yet again and the lawyers can now get the judges to approve taking money at their will out of our bank accounts that we scraped together to pay for the almost foreclosed house to pay just some interest on all those credit cards still around from 10 years ago.
Not done yet!!! Yes, Corporate America is doing it again and again and again and still no one cares. They say once you have been slapped around so much it just doesn’t hurt anymore. We are numb. What do we have left? No home. No credit. No savings. The car!!!!!!! Yes!!!!! Corporate America is now fucking everyone over with their own car loans! AND NO ONE CARES!
Just look at the roads. Everyone is driving a new car now. Look at the TV commercials. Everyone is approved regardless of your credit problems. Even if your trade in is the wreck under the weeds on the back lot? APPROVED! Even if I am unemployed? APPROVED! Even if we have 2 repossessions, a foreclosure, and a bankruptcy? APPROVED! Sounds great for America but America they are fucking us yet again. They are approving you for a sub-prime loan. The economy is now at a 10 year high for these sub-prime loans. It is just another trap to get you to pay more than the car is worth. These loans are 19 or 24% just like all those bad credit cards.
A crappy car worth about 3 grand with a loan payment at 24% is now an 8 grand car. If you pay off the loan over three years you will pay $13,000 for a crappy car that was only worth 3 grand when you bought it. But You are approved nevertheless. Most people can’t pay their loan over three years so the car company repossess the car. You lose all your investment and the so kind car company is and can sell the crappy 3 grand car again and again. Right now the default rate on car loans is high.
In order to threaten you to pay these loans, now the car companies are allowed to install a beeper in the car set to go off every 5 minutes once your payment is late. Now that is harassment. After a while, the device can also not allow you to even be able to start the car till your payment is made. God Bless America the land of the homeless, carless and penniless.