"I didn't know anything until December 2004 when I went to purchase a vehicle and was told there was a foreclosure on my credit and I wouldn't be able to get the car. I've still got a red flag on my credit."

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I believe that what works for the consumer is to be able to determine what they can pay -- even if it is nothing. (Just joking.) Unfortunately, so many depend on credit for living expenses, and the lower payments helped them in the immediate term. I am OK with that. For those who want their minimum to be more, you don't have to wait on your credit issuer to increase the payment -- do it on your own. For others, at this time, I think it's a horrible idea.

— Trina