X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

I read with interest your article on Filene’s report about credit card holders’ ability to repay. (CU Times, July 16, page 8.)

While I wholeheartedly agree with the principle and repayment concepts, there are a few flaws that seriously cast doubt on the overall potential success such a repayment program may have. The first issue would be how such a program would impact the member’s credit score. Unless there is less negative score impact on choosing the repayment program than there would be by filing bankruptcy, many debt-ridden borrowers will choose the “easier” way out by filing and keeping what little cash they may have. The credit score providers would need to build such leniency into their predictive models.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.