"Get out of debt FAST!" and other lies

[jilola]

Looking at $50K most of it a mortgage on my apartment, some student loans.
I'll join the CUYV but only as a supporting member. I need the darned thing to pay for business trips as my employer decided to lose the comany cards.

2cents (hee)

jouni

[Tisha]

HI !!!!

Here is my plan to lose my VISA despite the fact that I "need" a VISA to rent cars, pay for plane tickets, etc.:

I have a debit card that doubles as a VISA.  I charge with it and the money comes right out of my checking account.  Trick is, I actually need money in my account to be able to use it.

So that's where I am now, building a $3000 cushion so that I can rid myself of the need for credit.  I figure, if for some reason I need more than $3000 in credit I will go to a bank.  

$3000 doesn't build fast but I'm on the road to my goal!

tisha

[alpha]

Ive got 2 credit cards with about $12,000 all together.And about $1500 on car.Girlfriend owes like  a good $15,000 more or less.We pay what we can.The things we cannot are just gonna have to wait.

I admit I went a little crazy with my credit cards.But I could of payed for them.Had to get away from work,didnt have a choice.It was like a life or death thing.http://www.astralpulse.com/forums/images/icon_Smile_wink.gif" border=0>They can call all they like.I dont even pick up the phone anymore.

Were not too worried over here.Not  going to suffer over paper anymore.I have a feeling things will be just fine.

-------------------------------
"WAKE UP!WAKEUP!WAKE UP AND LOOK AROUND YOU!WERE LOST IN SPACE AND THE TIME IS OUR HOME"
-------------------------------

[Grenade01]

I owe my mom like $100 bucks
Hahah
http://www.astralpulse.com/forums/images/icon_Smile_big.gif" border=0>

But in the future I may be moving out and/or attending a private university
So
I may just rack up the bills in the next couple years here

[][][] <-- boxes --> [][][]

[jack rader]

For those of you with big credit card debt.  Take notice.  The U.S. House of Representatives just narrowly missed passing a bill that will make it impossible to just "walk away" from credit card debt if you have to declare bankruptcy.  The Senate would have also passed it and President "Family Values" Bush would have signed it.  An abortion-type rider saved the day.
Do I have to tell you which interest groups backed this bill?
The really bad news is that come September, the Congress will take this bill up again....the odds are good that it will pass.
The cats are closing off the escape routes of the mice.  The "Big Brother" one world government people strike again.
They are the ruling, elite class.....guess who we are.
Wake up.

Jack R. Rader

[alpha]

No offense Jack,But nobodys sleeping here.No matter how many laws pass.I still cannot afford to pay them.What I need right now is to get my gas turned back on.Dont you think thats more important?

You make it sound like we are  going to walk away crippled because of our credit card debt.Im not planning on claiming bankruptcy.But if it comes to that so be it.
                                                                     have a great day,ALPHA

-------------------------------
"WAKE UP!WAKEUP!WAKE UP AND LOOK AROUND YOU!WERE LOST IN SPACE AND THE TIME IS OUR HOME"
-------------------------------

[WalkerInTheWoods]

I thought i was bad at about $3500 on the credit cards. Plus I have like $15,000 for a car and then student loans at about $5,000. I feel stupid for most of the credit card debt because it was not really needed to be put on there. Oh well I guess we live and learn. I am trying to pay off everything and rarely put anything on the cards anymore, but they are still helpful sometimes. I will pay them off and then keep one for emergencies. Problem is, seems like when you get alots of debt on them they like to up the interest on them so it takes forever to pay off. I started off on both at like 9% now they are up to 18%. That is just bull if you ask me. Now I pay for things with my check card. So if I don't have the money, and it is not an emergency then I just will not be getting it. That is something that is hard to do sometimes.

[Grendel]

I ended up doing some transferring of debt from place to place, just so that I could cut up my credit cards.  I was losing 21% apr on them!  So after the dust settled, I now have $140,000 mortgage, about $28,000 in student loans, and a big pile of cut up credit cards.  http://www.astralpulse.com/forums/images/icon_Smile.gif" border=0>

[Tisha]

wooooo - heeeee !  Grendel is the first in the club!  Anyone else?  I've got about $2500 more to save and then I'm in.

[James S]

Hi all,
Here's a tip from a chronic spendaholic who learned a little bit of dicipline.
Don't destroy your credit cards and rebel against the credit institutions, turn it around and use it to your advantage.
Set your cards credit limits to only 2K-3K. make sure you can pay it off completely each time you get a bill, and use it for all your day to day stuff. If you haven't already got one, shop around and get a card with low interest, or some kind of bonus points scheme, and make sure it has something like 40 or 50 days interest free. That way when you pay it off each month you're not paying any interst on it at all. You don't pay anything at all on Visa transactions which is better than using cheques or withdrawing cash all the time which you usually get charged for.
And don't let the banks fool you into thinking that you are a really valuable customer and you should increase your credit limit. This is the key - keep your credit limit low - functional, but nothing more.

James S
(Fate amenable to change)

[justine]

I have never had a credit card, whenever I want/need something I either layby it or pay cash.  It is getting more difficult though, especially in times of internet consumerism, as I now have the problem now of trying to pay for a subscription to Art Bell.
The most attractive reason for me to consider a card, is the fact that at the video store it will get you out of paying $200 refundable deposit for hiring out a Gamecube console.


Hermits Unite

[WalkerInTheWoods]

Justine,

Is it possible for you to get a check card? It looks and acts like a credit card but it takes the money directly out of your bank account. It makes internet life a lot easier.

Credit cards are not bad if you can be responsible with them, and have a lot of self control. You should be able to find a card with a low credit limit and just do not let them raise it.

[Tisha]

I tried it the "low limit" tactic . . . and charged over my limit, paying extra fees for my sin every month.  The credit card comany will NOT refuse the transaction, it will happily accept it and sock you with fees.

A low limit on a VISA works for people who have good discipline.  If a person has no discipline, it doesn't work.

The only way out for me is to chop up the cards.  I'm like an alcoholic who can't even have the occasional glass of wine.

tisha

[Ashfo]

Gee....

Where are all you guys from?

It seems to me Americans do have a trend of spending money they dont have and worrying about it later... e.g buying a $15,000 car when a $5000 model would suffice.

In NZ most people use cashflow/cashpoint cards for day-to-day bussiness - it directly debits the money from your account and will decline you if you go over. Most people get them when they're about 12... perhaps this builds a sort of responsibility with plastic.

The only reason I would ever get a CC is to buy things over the net, I've heard too many horror stories about CC debt.

I guess I cant really comment though... I'm only 15 and really fortunate to have a large sum behind me from deceased grandparents etc to pay for lifes earliest debts (uni etc)

- Ashfo

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
"You are First Cause. You are a portion of the great energy. And you, yourselves are thought manifestations of what you think you are."
-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

[Gandalf]

Bloody hell!  To all americans on this forum - 'STOP SPENDING!'
Its all part of the buy now pay later culture that is also causing so many problems in the UK as well.
Ask yourself, 'Do I really need this? Will I be a happier person in a months time?' No, you'll just be in more debt.
I'm guilty of this myself.
I havent got a job over the summer, so I've racked up about £500 on the credit card.
But, the line must be drawn here...... I start a job next week.
Oh, just so you know, by the time I've finished my degree I'll have amassed the grand total of £15,000 student loan debt!

AAARRGHHHH!!!

Douglas

[WalkerInTheWoods]

Really I do not see student loans so much as debt as I do as an investment. Just think what those thousands of dollars are actually allowing you to earn. You invest 15,000 or whatever in whatever currancy you use over several years time. Then you get out of school, hopefully find a good job, and you make that or more back within the first year. That is a pretty good investment if you ask me. Now if you could just learn not to get into credit card debt, which I think is about the worst debt there is other than maybe with a loan shark. Seems terribly hard to get rid of that stupid credit card balance.

[Tisha]

Face it folks, many of us are broke.  And in debt.  Especially us U.S citizens, who are surrounded by consumerism.  I look at how FAT we've become and wonder if our fatness is as symbolic as it is "real."

I confess:  I buy too much.  I think I "need" things I don't really need.  So that when something bad happens (washing machine catches on fire, roof leaks, car breaks down) I don't have the money to pay for it.  Out comes good old VISA.

So how bad is your debt, everyone?  I'm at about 25K, 8K of it in credit card debt.

How are you getting out of it?  Moving debt around isn't working for me because my shopping behaviours are not changing.  DUH TISH!

I want to start a CUT UP YOUR VISA club!  We can share stories and support each other on our road to financial solvency.  Anyone interested?

tisha