New Credit Rules Could Hurt Stay-at-Home Moms

I feel this is a good move. This is why there are so many people filing for divorce and bankruptcy today. When the spouse with income loses their job, and both persons have credit card debt based upon that single income, many relationship and financial hardships arise. I also feel these credit card companies should request proof of income, not just have a person sign the contract stating they make a certain amount. I know a mentally challenged person on Social Securtiy who was gave over $20,000 in credit cards. When asked by a cashier if she would like to apply for credit in order to receive a discount, they "helped" her fill it out, and she received credit with many different stores. If they would have checked her income they would have seen she did not even come close to making that in one year...Now her family is having to deal wih debt collectors,threats of suit, etc. I feel awful for them.

Jane of MO 2:10PM August 31, 2011