Q: What's your opinion on the current credit card regulations, and whether the card companies should change their fees and limit the amounts they allow the borrower to spend? Please share your thoughts.

A: The credit card companies have been allowed to set the terms that the borrower is in need of, because they are not accountable for how the money is spent. Therefore, the only way the consumers can gain control over the terms on which they have to repay a debt is by petitioning to the credit card companies. The consumers are also able to seek redress through the various regulatory agencies. However, the consumers have to put in a little effort, as the credit cards are not regulated by the State. Therefore, consumers must be vigilant and not get too carried away and start thinking about the loan terms before they have even thought about making a loan. The problem of financial stability is very urgent.