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The contributors to this blog are a diverse group of lawyers and law professors who practice, teach, or write about consumer law and policy. Although the blog is hosted by Public Citizen's Consumer Justice Project, the views expressed here are solely those of the individual contributors and do not necessarily reflect those of the institutions with which they are affiliated. To view the blog's statement of policies, please click here.

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Sunday, June 29, 2008

Obama on Consumer Debt

Obama Barack Obama discusses his legislative agenda regarding consumer debt with Michelle Singletary of the Washington Post. Obama notes that until he cashed in on his best-selling books, he and his wife were carrying significant student loan debt. "We were making payments the size of a mortgage every month," Obama said.

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Comments

When suffering from a large debt, consider your alternatives, negotiate with your creditors and know the next steps in consolidating your credit. Thanks for the article!

There’s nothing wrong in fighting against predatory lenders, in fact it’s good. I commend him for his future plan. But Obama should take into consideration the acts of lending industries before taking the necessary action. Not all lending industries are predatory or steals money from working people. He should study first the case of these industries before giving the act.

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