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Does anyone really think that someone with $50,000 in CC debt is going to post on this thread? I forget the exact amount I read a couple of years ago but most people have well in excess of $10,000. Those in trouble probably have $40,000+.
Credit cards fuel our economy..unfortunatley they have also destroyed it too.
Those of use who are older remember the day when the average person had to go to the bank and ask for a "personal loan" or better yet, a passbook loan!!! Talk to anyone 35 and under about those and they would look at you like you are nuts.
Does anyone really think that someone with $50,000 in CC debt is going to post on this thread? I forget the exact amount I read a couple of years ago but most people have well in excess of $10,000. Those in trouble probably have $40,000+.
Credit cards fuel our economy..unfortunatley they have also destroyed it too.
Those of use who are older remember the day when the average person had to go to the bank and ask for a "personal loan" or better yet, a passbook loan!!! Talk to anyone 35 and under about those and they would look at you like you are nuts.
It's completely crazy that credit card companies even give people credit limits like that (either on their own card or when adding up the total CC debt of a credit applicant's credit report and deciding to give the applicant yet MORE credit).
Then idiots think, "I must be able to afford these credit payments if they gave me such a high limit!"
(As for how much cc debt I have, I just don't know ... I steal other people's identities and never even open the bills! Technically I guess "I" have no debt, right? )
Do I get from this that you think people who live in NC have more CC debt then you?
Whenever I listen to the radio here (to and from work) it is a constant stream of CC debt commercials... I'm guessing they're targeting this area for a reason - and it's not because 25 anonymous people on a forum say they have 0.
According to the commercials I've heard/seen, they're targeting this area because the men seem to be seriously under-endowed as well.
It's multiple card debt. As soon as you open an account, the sharks come callin'
And it's very hard for certain people to turn down "free money", which isn't free of course, but credit cards make it all too easy to spend beyond your means and thus bury yourself. You need this or that, "screw it, throw it the card" oh we need this? "just throw it on the card"
I know people who have been making their mortgage payments on their credit cards.
I know even more people that built their faux wealthy lifestyle on credit cards.
One card for the siding, another for the roof, another for the pvc fence, 6 foot flat screen tv, jet ski, etc...All on credit cards, I ***** you not, it's the truth...all to give the impression they are a bigshot. Foolish idiots. The economy took a dump and it all came around to bite 'em right in the ass.
Ha! We just bought a house and moved for the second time in less than a year... oil tank needed replacing, armies of mice in the house, plumbing issues, electrical issues, issues, issues, issues... and a car with 4 bald tires, so guess what I just bought? Nevermind the fact that we are still paying rent on our leased house for another month and a half. Um, yeah. I'm carrying some credit card debt right about now
Ha! We just bought a house and moved for the second time in less than a year... oil tank needed replacing, armies of mice in the house, plumbing issues, electrical issues, issues, issues, issues... and a car with 4 bald tires, so guess what I just bought? Nevermind the fact that we are still paying rent on our leased house for another month and a half. Um, yeah. I'm carrying some credit card debt right about now
Holy crap! what the hell did you buy?
Were the mice extra, or did the seller throw them in as a bonus?
Up to this point we have never had any debt (except a mortgage) but my husband got laid off this week and we still have medical bills from my C-section 3 months ago. COBRA and paying our mortgage will likely decimate our savings unless one/both of us find a job asap. I mean, if my kids need to eat, what is a person supposed to do? Unemployment does not pay enough to support a family of 4. I am not about to put medical debt on a credit card, but I was certainly encouraged to do that by the hospital.
I don't think everyone who gets into CC debt is stupid. It is a rough economy. We just bought a house and have two small children. My husband was at this job 10 years. You never know. You might be next.
You can play around with medical debt a little. There are programs and stuff to help manage medical debt. They're not holding your baby as collateral are they? ha!
Actually, true story, when I was born, the hospital would not release my mother and "baby me" until my old man forked over the balance. We were held hostage by the hospital as collateral. He actually ran out and sold one of his cars short money that day to get us released. Killed him, my old man was a real car guy, and he let go one of his favorites. I still feel a little guilty.
Up to this point we have never had any debt (except a mortgage) but my husband got laid off this week and we still have medical bills from my C-section 3 months ago. COBRA and paying our mortgage will likely decimate our savings unless one/both of us find a job asap. I mean, if my kids need to eat, what is a person supposed to do? Unemployment does not pay enough to support a family of 4. I am not about to put medical debt on a credit card, but I was certainly encouraged to do that by the hospital.
I don't think everyone who gets into CC debt is stupid. It is a rough economy. We just bought a house and have two small children. My husband was at this job 10 years. You never know. You might be next.
I feel your pain (financial, not physical!!)
We had two adoptions all nicely planned out over the span of about 4 years. Well fate took over and one of our girls became incredibly sick and needed to get out of Haiti because of the lack of decent medical care. What it did was force both adoptions to happen within 6 months. This was in 2006/2007 when the low interest CC offers were flying...so we financed 50K in travel/fees at 3.9% with American Express and Chase.
Talk about ignorance on my part!!
All fine and good until this year when they quadrupled our min monthly payment and raised the rates to 17.99% (even though we didn't default on any payment)
Our saving grace was a home equity loan which carries its own set of risks...but it lowered an $1800 a month payment to $450.
Best of luck to you...and you are right to avoid loading up these bills onto credit cards. That's a lot of stress!
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