Edmund L. Andrews, an economics reporter for The NY Times writes a very open and honest account of how, though he should have known better, he is now deep in debt and behind on his mortgage. He also talks about just how easy it was to get there. Andrews realizes that the blame lies solely with himself and his wife, which makes this article a great read. The article discusses many of the lending options available to him, allowing him to "fix" the current insufficient funds issue without fixing the underlying overspending problem. It's a long article, but well worth the read.
Sunday, May 24, 2009
An Open Account of a Personal Credit Problem
Posted by quizwedge at 11:32 AM
Labels: economy, mortgagecrisis
Subscribe to:
Post Comments (Atom)
1 comment:
There has been some follow-up on this story, and it is not quite as innocent as it seems. The wife had 2 bankruptcies before getting married, and the husband was already a known "high risk" sort of guy. It is a good illustration about how a pre-Recession bank could be an enabler, but we should be aware that the writer is not being totally transparent here.
Post a Comment