I thought by now consumers would have been smarter not going into all this debt, but I guess no....see in America we are all taught to consume from an early age and that being frugal with your money, well just doesn't get you far....if you are a penny pinching saver where you barely eat out, wear old fashion clothing, eat leftovers, bring your lunch to work and drive a car older than 5 years old chances are you are being called out on it or being laughed at by friends or even family members...its true, we all know someone who pinches pennies and I'm sure we have laughed at them...but the consumer who spends and lives pay check to pay check, gets takeout every day, has a new car every 3 years and has more revolving debt than a subway turnstile, well they are looked up to like a god or king....always wondered why ...well in 2016 consumers will be facing over a trillion worth of debt..... http://www.cnbc.com/2016/03/10/us-credit-card-debt-balloons-to-917b-what-it-means.html
Best strategy: 1)Run up debt to amazing levels 2)Learn all the ins and outs of avoiding collections and payments 3)Stiff 'em 4)Then take advantage of the really good opportunity to learn to live within your means I mean, wow, first things first! The whole system is really kind of senseless. If your debt goes to collections and you pay it all, it does nothing at all for your credit rating. If you make a payment on debt that is in collections you worsen your rating by restarting the time period that said debt can stay on your record. If you owe taxes and unsecured s$^t you just go into court, the Judge will be some introvert @sshole that upholds his public sector stuff, he'll discharge your private sector debt and schedule your payments to the IRS because his retirement comes from the public sector. If collectors do illegal things you can sue them for some long coin, enough to live on for a few years. See? We're far from hopeless!