Okay, I saw this article and just laughed. Does this mean everyone with credit cards should sue the creditors for extending credit to those people who should not have a credit card? What about the creditors who send freshmen in college all the pre-approved credit cards they want? Logically thinking, the creditors know that half of the freshman cannot pay it back and will be paying on the $1,000 credit card for the rest of their life because they can only pay the minimum payment............. What about people who buy these huge houses who cannot afford to pay for them in the first place? There are nice homes around us and people may live in there for a year or so and then they are selling because they can't afford it......
I just thought this was interesting to share since we have this financial crisis going on and seeing that a lawsuit was against the creditors for them giving her credit.
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MILWAUKEE - Oprah Winfrey's mother says she shouldn't have to pay a nearly $156,000 debt to a high-end fashion store because store officials shouldn't have extended credit to her.
Valentina Inc. alleges that Vernita Lee of Milwaukee racked up $155,547 in purchases and interest as of July 1. The company sued, saying Lee fell behind in minimum monthly payments of $2,000.
Lee filed a counterclaim Friday contending that Valentina took advantage of her "lack of knowledge, ability, and-or capacity" when creating her credit account.
Court papers say Lee resolved a 2002 case with the company over a $175,000 bill. The resolution prohibited Valentina from extending further credit to her.
A message left for Valentina co-owner Tony Chirchirillo was not returned Tuesday.
