Quote:
Originally Posted by pylon
The amount of credit card and LOC debt I am seeing right now on credit applications is terrifying. I have seen numerous applications where people are in 6 figure CC debt. And approvals are becoming extremely difficult on a lot of deals. It's pretty bleak when you see the financial situations some people are in.
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I can understand maybe a 6 figure CC debt if you have a house and family you are trying to keep things together after lost income but when you have debt like this and are in a car dealership attempting to purchase a new car I really have to wonder what's going through their minds.