http://www.paidtwice.com/2008/10/20/credit-card-debt-the-next-national-financial-disaster/#comment-56875 Mr. ToughMoneyLove Mon, 20 Oct 2008 17:56:29 +0000 http://www.paidtwice.com/2008/10/20/credit-card-debt-the-next-national-financial-disaster/#comment-56875 Credit card debt is already a financial disaster, it's just been overshadowed by the sub-prime mortgage mess. Why do you think we have so many sub-prime mortgages? Because there are so many people with horrible credit history, e.g., credit card debt. Frankly, I am hoping for a huge blow-up in the consumer credit industry so that consumers will stop obsessing about credit scores and think more about net worth and other positive metrics. Credit card debt is already a financial disaster, it’s just been overshadowed by the sub-prime mortgage mess. Why do you think we have so many sub-prime mortgages? Because there are so many people with horrible credit history, e.g., credit card debt. Frankly, I am hoping for a huge blow-up in the consumer credit industry so that consumers will stop obsessing about credit scores and think more about net worth and other positive metrics.

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