29 Quotes by Travis Plunkett

We're going to see people in a debtor's prison without walls, ... They'll essentially slip through the safety net, hit the ground and then sink into an underground economy.

shouldn't have to jump through hoops to get bankruptcy relief.

We support credit counseling, especially if it's delivered early, and this is not early intervention. This is late intervention at the point where people have decided that bankruptcy is the only way for them. We just wonder whether this kind of late intervention will be helpful to too many people.

I think you're going to see a serious effort to include this provision either as a standalone bill or as relief legislation.

I think the credit-card industry is reaching a tipping point,

It is possible some could read this and say, 'they're encouraging me to pay late,' ... Paying late is never a good deal.

People are just fed up with the approach that the large credit-card issuers have taken over the past five years. They're fed up with an increasing number of traps and tricks. They're tired of being hit with a fee every time they blink.

Rent is often the largest chunk of a family's monthly budget. So the concern would be that these families would be tempted to use money they don't have by putting it on plastic.

Most issuers waited until at least mid-2005 or later. Credit-card companies should have started implementing this guidance a long time ago. They should have done so very gradually ... That hasn't happened. But we haven't been flooded with complaints, either.