Absolutely right, jimmyt! There should be alot more chapet 7's and a lot less chaper 13's.

But we need to look at the sources of the troubles that folks find themselves in and we need to look for the patterns. Most people get into trouble with an income-to-debt ratio that puts them on the ragged edge. Lenders should back away from these folks but they don't. Instead, they, like any gambler, roll the dice. We see it all the time... with lenders who lend at usuary rates perfectly willing to lend to a guy who they have to know is in trouble. These folks tend to be the "credit card" folks.

The "credit card folks" charge a lot of interest and in reality try to hook as many folks as they can into paying just the interst. This is good business for them but bad business for the poor shmo who's just trying to get by. Now, these folks who charge 4 to 5 times prime rate want the US government to guarentee their *returns*. Hmmmmm?

Since when did the government become the collection agents for the loan sharks?

Bobert