"The biggest difference in our nation’s character between now and the 1950s is not with the consumer, but with the financial industry. Back in the 1950s, few people had one credit card, much less a dozen of them. Today, the financial industry is after our money; over three billion credit card offers are mailed out in a year. There are letters on file from banks and credit card companies offering $100,000 lines of credit to numerous children under the age of twelve. There are also letters offering credit to dead people as well as several cats and dogs. Combine this with the absurdity with collection tactics that make the KBG look tame and you have a recipe for bankruptcy. The consumer has made some errors, but the bulk of the blame lies with the lack of character represented in our financial institutions and their decision makers. The collectors who are more like predators feeding on the consumer cause more bankruptcy filings than anyone else. VISA’s own internal study of debtors showed that the number one “last straw” that broke the camel’s back was collection tactics. Predatory collection tactics of being called ten times a day including at work, plus your neighbor is called, your mate and children are insulted, numerous messages are left on machines, rude jerks are yelling and name calling—all this can add up to you losing your understanding of what is important. Of bankruptcy filers, 49 percent say collection tactics were the last straw that caused them to lose hope, so they punted."