http://www.personalloanportfolio.com/27/congress-examining-credit-card-practices/ Lending Club and Prosper.com Experience Sun, 05 Sep 2010 13:45:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.personalloanportfolio.com/27/congress-examining-credit-card-practices/comment-page-1/#comment-44 LenderBe Wed, 05 Dec 2007 13:21:37 +0000 http://www.personalloanportfolio.com/27/congress-examining-credit-card-practices/#comment-44 A person could get into just a little financial trouble where they pay one debt late and that policy would likely trigger a complete downward spiral causing financial ruin. A person could get into just a little financial trouble where they pay one debt late and that policy would likely trigger a complete downward spiral causing financial ruin.

]]> http://www.personalloanportfolio.com/27/congress-examining-credit-card-practices/comment-page-1/#comment-42 Mike Tue, 04 Dec 2007 18:11:05 +0000 http://www.personalloanportfolio.com/27/congress-examining-credit-card-practices/#comment-42 I think the <a href="http://en.wikipedia.org/wiki/Universal_default">universal default</a> clause is much more insidious. It's because the borrower went late (whatever you think of the justification), but can have a huge impact on all debts. I think the universal default clause is much more insidious. It’s because the borrower went late (whatever you think of the justification), but can have a huge impact on all debts.

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