Debt = Drugs

I finished reading the book Maxed Out about "hard times, easy credit, and the era of predatory lenders" as the subtitle states.

It was a very interesting read.

This is what I got from it:

Predatory lenders target customers that cannot afford to ever pay back the debt.

These type of lenders look for people that will pay minimum payments forever.

Like a drug dealer they hook you in with a small amount.
(0% for a year!)
They keep pushing it on you giving you more each time.
(increase your credit limit, more offers)
They know it is not good for you or ever was to begin with.
(income to credit limit ratio)
They don't care if you die or go broke.
(they've made their money in fees and interest)
They will send enforcers to make you pay.
(selling your bad debt to credit collectors)

The author buys a mug that reads,
"If you think nobody cares, try missing a couple of payments."

It is so true.