Suze Orman, You Should Know Better!
From the Huffington Post:
“There is a phenomenon happening in the United States of America,” said Orman. “It’s where people are getting seriously angry, so angry at their banks, their credit card companies. They feel like they are not being treated fairly when it comes to the interest rates they are paying. Guess what they’re doing: They are staging a debtors’ revolt. Oh yes, a debtors’ revolt.”
The debtors’ revolt started with Ann Minch, a 46-year-old woman in Red Bluff, Calif., who declared via YouTube that she would not pay off her credit card debt after Bank of America hiked her interest rate.
When you are on the radio or especially on TV, you have a certain amount of responsibility to monitor what you say. Suze Orman is getting on the same side of the table with the lady who is walking away from her debt because she is “revolting.”
So, let me get this straight. She is giving PR to a lady who is not paying her debt because that mean old credit card company raised her rates. Well, Ms. Minch, life just isn’t fair now is it? I am wondering if Ms. Minch read the Bank of America agreement prior to signing on the dotted line giving the credit card company the right to do whatever she wants to do?
Suze Orman is condoning this lady’s behavior of walking away from the debt as well as justifying it. Now to be fair, I am basing this on a 3:34 minute clip that I saw. I am hopeful that she was responsible enough to tell her viewers at some point that walking away from your debt is truly a bad idea at best. If she is going to run that segment, she should be saying it every 3 to 4 minutes. At any rate, I think that it is highly irresponsible to give PR to such an idea when she could be encouraging many people to walk away from their debt.
So, Suze what are you going to advise your followers when the consequences set in after they walk away from their debt? What are you going to tell them to do when they are dealing with debt collectors, possible law suits, and trashed credit scores?
This is the problem with this country. No one wants to take responsibility. Like it or not, you signed the bottom line on that credit card account. You bought the big screen television. Oh and…life isn’t always fair. However, you have to live up to your responsibilities and obligations. We all know the credit card industry is crooked. However, getting mad at them will do you no good. You granted them all of the power when you signed the bottom line which said in fine print that they could do these things to you.
If you want to get mad, revolt at the politicians. They are the ones truly responsible for this mess today.
