Household HSBC Watch

Americans are shocked by rising gasoline prices, the OCC’s increase in minimum payments for credit cards, natural disasters and tight budgets. Already reeling from events spiraling out of control they take no comfort in changes to bankruptcy laws and other changes which are unfriendly to the consumer. Our new and popular series on debt collection was prompted by a customer report from someone who never should have been in collections.

Given the circumstances and the mood of the general public one expects unhappy American consumers to draw the line when predatory lenders try even more dirty tricks and shady tactics. We expect over-extended Americans to fight back this fall and winter. Experts say the main reason gas prices spiraled out of control is speculators knew George Bush wouldn’t do anything to stop it. Predatory lending is the same way, but now is the time to stop some companies with a ten or twelve year history of abuse because regulators failed to stop them. We can’t afford to let it go on.