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Being hounded by the IRS? Overextended on your credit? Need to stop all those collection agency calls? It seems an inordinant number of ads on radio and television these days are from lawyers or comsumer credit companies trying to make a buck bailing people out of their debt. I understand the economy is tough and there are lots of people struggling to make ends meet. Some have worked hard, made good choices, and still gotten a raw deal because of layoffs, falling home prices, or greedy banks and mortgage lenders. My sympathies are with them.
My concern is about all the people who wanted to live above their means with frequent new cars, McMansions, and credit cards charged to the max so they could have everything their hearts desired - NOW! They couldn't save for what they wanted. There was no planning involved. No thought given to how to eventually pay for these things. No provision for a possible drop in income. And now all of us who have been responsible with our money are going to pay for it.
I'm not talking about the government bailout plans here. I'm talking about the greedy consumers who are trying to garner sympathy because they are being hounded by the IRS over taxes they didn't pay. Lawyers are promising to protect them. From what? From paying the taxes they rightfully owe? The ads promise clients will pay pennies on the dollar as they have their debts reduced. Guess who's paying the rest? Each and every one of us who has been cautious and responsible.
The same goes for credit card debt. People who are getting collection calls have over-extended themselves. Some probably haven't felt they have had much choice. Maybe there are medical bills, sudden emergencies, or an unexpected loss of income. At least I can understand their situations. But I have a distinct lack of sympathy for those who have maxed out their credit cards to collect "stuff." Not necessities. Just stuff so they can have more than their friends.
I won't have to pay their bills directly, but I will share in the payment. Every time someone defaults on their credit cards or bargains with the IRS over money they truly owe, the rest of us pay. We pay higher interest rates. We pay more in taxes. Our roads and schools get cheated. It's time for people to take a look at their situations and feel some shame over financial situations their own greed has caused, because the rest of us are tired of paying for them.