Credit Man

The other day I was driving down the road and I saw a sign in front of a Buy Here Pay Here car lot. On the sign was a cartoon super hero called "Credit Man." He looked harmless enough. He was strong, broad shouldered and rather Super-Man looking. His dark hair was slicked back and he had a dollar sign on his chest.

Of course! Who wouldn't want a handsome super hero to swoop in and save the day. You need a new car and you need it now, so just come on in, trade in your old car and Credit Man will help you get a new one - and at only 10% interest! (rates subject to change without notice. if at any time you miss a payment your interest rate will increase to 21%. loan must be repaid in three (3) years or interest rate will be increased to 50%. we reserve the right to take your car, your home and your first born if you don't pay.)  Isn't credit just wonderful?

The more I learn about our own debt and the more I learn about credit in general the more I think of Credit Man like this:

(image from http://www.idfpr.com/finlit101/Kids/K-Index.asp)

scary right?

And the more it causes me to scream at the sign as I fly by "You're no Hero! You're a Villian!!!!!!" At which point I'm sure my fellow drivers immediately got as far away from the loony in the mid-90's Ford as possible.

Thanks for that Credit Man...