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Old 05-19-2009, 10:23 PM
 
Location: H-town, TX.
1,910 posts, read 2,152,393 times
Reputation: 915
Quote:
Originally Posted by Forgetmenots& Roses View Post
I have to agree. I got a credit card through Continental Finance which is supposed to help with your bad credit. They put a processing fee on my card for $250, a monthly fee of $15, and a $50 annual fee on top of this. I have to pay $35 a month for a card I basically can't use. They give you a $50 credit card limit each month and by the time I pay all the fees and dues I get about $16 or $17 a month I can use. Oh, and they charge 19% interest by the way. You would think there would be laws against scam artists like this you know? I also belong to Horizon and they are just as bad. Neither card is worth 2 cents. I wish I had never signed up for any of them. They've only gotten me "further" in debt and I am on a government social security disability!

Ouch.

Why improve credit if you're living anywhere but in a cardboard box? All your FICO does is measure your ability to be in debt. Got a good living arrangement and a vehicle that runs? Okay then.

I've had those laughable card offers back before I did the opt-out deal over the phone...I figured if someone wants my biz that badly, why deal with that!

Just saying...I hang around Yahoo Answers! a lot and see way too many posts about people buying cars to "improve credit". What a horrendously pricey way to do that! Nevermind the people who ask about trading in a vehicle that they are $10K upside down on as if that would make that debt disappear that they've acquired from rolling over negative equity...as if Groundhog Day isn't repeating itself or something!

I see it up close. I bought my '03 F150 two summers ago for $9000. I made $58k that year. Last two of my 24 payments left are coming up. I live comfortably on 1/3 the income now that I went back to school. My brother? Got his Hyundai Tiburon totalled, so with his $1600/month gross income, $600 that goes to rent/utilities...he bought a 2008 Civic that will cost him $450/month for 60 months plus with his habit of fast driving awards, probably $150 for insurance. This does not add up well.

So, if it ever looks like some of us get tired of the victim card, there is usually a reason for it.

In your case, you had no need to build credit on your income. You can't buy anything anyway!
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Old 05-20-2009, 06:56 AM
 
Location: USA
1,107 posts, read 1,629,813 times
Reputation: 929
Quote:
Originally Posted by StoneOne View Post
Lots of people come to this site looking for honest advice on dealing with their credit card issuers and debt management in general. The holier-than-thou attitude by so many its members simply isn't helpful.

My 2 cents...

Yes, there are some holier than thou people I've seen around too.
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Old 05-20-2009, 07:08 AM
 
Location: southern california
47,974 posts, read 43,427,781 times
Reputation: 38750
a compulsive spender can justify absolutely anything
when family & friends express concern watch out.
last thing in the world you ever wana do is marry one--- that is how they feed.
real living moving vampires

Last edited by Huckleberry3911948; 05-20-2009 at 07:36 AM..
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Old 05-20-2009, 07:41 AM
 
1,955 posts, read 3,136,747 times
Reputation: 1043
I didn't mean to suggest that there isn't a lot of irresponsibility among borrowers and that the people who intend to walk away from their debt are somehow okay. While I wouldn't be quick to blame someone for defaulting on overwhelming medical bills or lots of credit card debt inherited in a divorce, for example, a lot of the people who have debt recognize their mistakes and want to find the best way out. And yes, the deceptive actions of banks is something to get upset about, especially when it was the banks' greed that allowed them to make so many risky loans.

I guess what I find upsetting is the attitude from some members who feel morally superior because they have no debt to pay off.
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Old 05-20-2009, 07:57 AM
 
5,748 posts, read 6,804,774 times
Reputation: 4356
I think it's an issue of integrity. A person with integrity does not make promises he can't keep, and in the case of someone who takes on debt without the resources to pay it off is, in fact, making a promise he can't keep.
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Old 05-20-2009, 08:02 AM
 
Location: USA
1,107 posts, read 1,629,813 times
Reputation: 929
Quote:
Originally Posted by StoneOne View Post
I didn't mean to suggest that there isn't a lot of irresponsibility among borrowers and that the people who intend to walk away from their debt are somehow okay. While I wouldn't be quick to blame someone for defaulting on overwhelming medical bills or lots of credit card debt inherited in a divorce, for example, a lot of the people who have debt recognize their mistakes and want to find the best way out. And yes, the deceptive actions of banks is something to get upset about, especially when it was the banks' greed that allowed them to make so many risky loans.
Before the government made it a little harder for people to file bankruptcy, I know at least two people who filed for credit card debts over 15k. One of them was offered another credit card 6 months after. She took it and used it, getting herself right back into debt. While I feel that lenders should NOT continue to offer people more and more credit, especially those who have a lot of debt or filed bankruptcy, I feel it is also the potential debtor's responsibility to "just say no".


Quote:
Originally Posted by StoneOne View Post
I guess what I find upsetting is the attitude from some members who feel morally superior because they have no debt to pay off.
Yes, or like you said earlier, come to vent or get advice to get holier than thou and snotty responses.
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Old 05-20-2009, 08:03 AM
 
Location: Houston, Texas
10,428 posts, read 27,712,094 times
Reputation: 9520
Quote:
Originally Posted by StoneOne View Post
Lately I've encountered a lot of posts by judgmental members concerning those who dare commit the sin of irresponsibly carrying a credit card balance. Like the Pharisees, they continually state that they pay off their credit card balances on time, each and every month. They stop at nothing to defend the banks' policies aimed at those whom they view as moral inferiors (i.e., debtors).

Why the attitude and superiority complex? Are you lying to yourselves about your own financial situation and simply too embarrassed to say that you're in debt? Are you delusional enough to believe that extreme frugality has just as devastating an impact on the economy as extreme debt?

Lots of people come to this site looking for honest advice on dealing with their credit card issuers and debt management in general. The holier-than-thou attitude by so many its members simply isn't helpful.

My 2 cents...
Man you sure got that right. And the main culprit you are speaking of has not responded yet. Nor has he responed to the thread the other day about the new laws concerning credit cards. I betcha he is crying a river from BOA to WAMU to City Bank.
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Old 05-20-2009, 08:17 AM
 
5,748 posts, read 6,804,774 times
Reputation: 4356
Quote:
Originally Posted by mainegirl View Post
Yes, or like you said earlier, come to vent or get advice to get holier than thou and snotty responses.
I get frustrated when a poster appears to want the easy way out of a problem he worked hard to create. There are no short-cuts if you want to live a life of integrity. People screw up, and always have (me included), but now there seems to be no shame attached to failure.

Running up a credit card bill beyond one's ability to pay or buying a house that one cannot afford is a failure. Feeling shame and regret, along with experiencing the appropriate consequences of bad decisions ensures one will think twice in the future before making the same mistakes.
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Old 05-20-2009, 08:22 AM
 
Location: USA
1,107 posts, read 1,629,813 times
Reputation: 929
Quote:
Originally Posted by formercalifornian View Post
I get frustrated when a poster appears to want the easy way out of a problem he worked hard to create. There are no short-cuts if you want to live a life of integrity. People screw up, and always have (me included), but now there seems to be no shame attached to failure.

Running up a credit card bill beyond one's ability to pay or buying a house that one cannot afford is a failure. Feeling shame and regret, along with experiencing the appropriate consequences of bad decisions ensures one will think twice in the future before making the same mistakes.
If you're referring to filing bankruptcy after deliberately getting themselves in high debt, I pretty much agree with you.
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Old 05-20-2009, 10:00 AM
 
8,410 posts, read 9,201,007 times
Reputation: 4142
Quote:
Originally Posted by StoneOne View Post
Lately I've encountered a lot of posts by judgmental members concerning those who dare commit the sin of irresponsibly carrying a credit card balance. Like the Pharisees, they continually state that they pay off their credit card balances on time, each and every month. They stop at nothing to defend the banks' policies aimed at those whom they view as moral inferiors (i.e., debtors).

Why the attitude and superiority complex? Are you lying to yourselves about your own financial situation and simply too embarrassed to say that you're in debt? Are you delusional enough to believe that extreme frugality has just as devastating an impact on the economy as extreme debt?

Lots of people come to this site looking for honest advice on dealing with their credit card issuers and debt management in general. The holier-than-thou attitude by so many its members simply isn't helpful.

My 2 cents...
I think 7 out of 10 are lying...LOL
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