Ever been in deep credit card debt?

[lawrocket 3]

Okay. Seeing this about credit card debt. I was unemployed as an attorney for 8 months and crdit card debt built up.

I'm currently in now for greater that 5k after being more than 15k.

How many others have been in or are in some trouble with the dread plastic?

My wife is hotter than your wife.

[Gawain 0]

I used to have unsecured debt totalling about $12K. Years ago, I had other "debts" that are far worse to have.

Now, except for my car, I have no debt.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[headoverheels 333]

I think I paid interest one or two months, ever.

[Beerlight 0]

Was up to my eyeballs when I was married ($10K+). Paid it all off after divorce Now I pay cash for everything!

Buck

[Tink1717 2]

Back in the 80's, was 19K in the hole. Alcoholism + credit cards= bad juju.

Skydivers don't knock on Death's door. They ring the bell and runaway... It really pisses him off.
-The World Famous Tink. (I never heard of you either!!)
AA #2069 ASA#33 POPS#8808 Swooo 1717

[Misslmperfect 0]

lol....as far as CC debt im about 8k in the hole...debt overall is slightly over 10K i believe.

how'd you climb out of it? im chipping away slowly, but theres gotta be a better way!!!!!!

Oh Canada, merci pour la livraison!

[lawrocket 3]

I haven't used a credit card for anything since July, 2003 when I moved up here to Fresno.

My wife and I were both in it pretty deep. We've gotten more than half of it paid off in the last few months.

My wife is hotter than your wife.

[Nightingale 0]

You can call your credit card company and see if they'll take a lump sum payment that is a percentage of the total owed, provided you agree to cancel the account.

They're usually ok with it, since:

1. they're getting something. You declare bankruptcy, they get virtually nothing.

2. you've probably already paid them ten times over in interest.

3. by telling them you're having trouble, you establish yourself as a credit risk, and they'd rather not deal with you.

make sure the agreement includes a statement that there will be no hit to your credit, that your credit report will read "paid as agreed."

[nanook 1]

8 1/2 grand in the hole with a car payment back in the day. All paid off 6 1/2 years ago and waiting for the last bad mark to dissapear hopefully this year. What did I learn from all this? Credit cards suck and you can't use American Express anywhere.

_____________________________

"The trouble with quotes on the internet is that you can never know if they are genuine" - Abraham Lincoln

[TribalTalon 0]

haaaaaaaa. 7 grand in the hole on my credit card. i'll be like 90 before i pay that fucker off.

[lawrocket 3]

Quote

lol....as far as CC debt im about 8k in the hole...debt overall is slightly over 10K i believe.

how'd you climb out of it? im chipping away slowly, but theres gotta be a better way!!!!!!

Climb out of it? By taking risks and living lean. No jumping for me. No nice restaurants or nice beers for Jerry (okay, a few nice beers owing to a six-pack a week).

In sum, we've been scrimping by by paying ever cent we can into credit cards, and since business is starting to do better, it helps us, too.

My wife is hotter than your wife.

[kai2k1 0]

in 2001 i was 38k in the hole with nothing but CC's. I lost my job, and the one that i got sucked! I really didnt have a choice but to file a chapter 13. now im paying 850.00 a month till January of 2007.

When It is finally discharged, I will not ever have another CC ever again. If I cant pay cash for it, I dont need it.

There's no truer sense of flying than sky diving," Scott Cowan

[RoadRash 0]

Quote

If I cant pay cash for it, I dont need it.

Dude, that has become my motto......I'm pretty much around...8k myself...and that's mostly due to me being irresponsible while I wasn't working for a semester...but jumping every weekend......


~R+R...Actually, this subject really depresses me...now I need a beer...but I don't have any......And I don't want to spend any money on it.......

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~
Fly the friendly skies...^_^...})ii({...^_~...

[jillr 0]

You don't always have to agree to cancel the card- they want your money and to get that you have to stay a customer. If you have two or more cards, call the one with the best rate, see if they'll up your limit to transfer your other cards to one AND lower your interest rate.

I had two cards, each with a couple grand on them, lumped them into one with a much lower rate. I've climbed out and back in a couple times but the stress of paying only one payment instead of three or four is a WHOLE lot less stressful.

[Layton 0]

me and my wife werein for about 30k.(we make pretty good money) and we were stupid. we borrowed from our retirement and paid it all off.(and most imporntantly we closed the accounts) now we have no credit card debt.that prime interest rate will kick your ass.***no good deed goes unpunished

[napaguy99 0]

Hehe. When a newb asks me how I afford skydiving I look him/her straight in the eye and ask "Do you have a credit card?" They usually answer "Yes." I then reply with "Get another one."

"Let the misinterpretation and attacks begin."

[Ron 10]

Had no debt..got married....Then divorced...Shazam I had debt.

I am now out of debt and saving like a mad man.

"No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334

[WFFC 1]

Quote

make sure the agreement includes a statement that there will be no hit to your credit, that your credit report will read "paid as agreed."

this part is key. If you don't get this part, let me know. I know a lawyer that writes nice letters to the credit bureaus to dispute negative items.

-----
~~~Michael

[Unstable 9]

I've never been in Debt that I can't pay off Either Immediatly of within two pay periods (one month). Just use your head, and NEVER take it shopping!!

=========Shaun ==========

[Guest]

In all of my earning years both lean and fat, I have made an effort to never live beyond my means.

My cars are paid for.

Aside from household expenses (mortgage, etc.), I have no monthly debts.

I have outstanding credit, which I don't use. It's a seductive trap for the unwary.

So despite being unemployed for going on 8 months, I'm doing okay, because:

A - I have an intelligence quota greater than the common ursine.

B - I'm married to a woman who'll kick my ass if I misuse a credit card (emergencies like big car repair bills, etc. are exempt).

C - We've always had an agreement that everything I earn in my day job goes into the home account, BUT - everything I make over and beyond that 40 hours (overtime, teaching, consulting, etc.) is purely discretionary; that is - MINE, ALL MINE, to save, use or squander as I see fit. It's a policy which has kept us out of fiscal trouble for a long time.

mh

.

"The mouse does not know life until it is in the mouth of the cat."

[base428 1]

Sorry folks, I've got you all beat.
I've got about $43k on two credit cards right now. It was up to $46k not too long ago. I just got done building a house and we already borrowed the max, so we had to whip out the cc's. Perhaps I should put up a Paypal "Donate" button so you all can help me pay it off?

(c)2010 Vertical Visions. No unauthorized duplication permitted. <==For the media only

[MikeJD 0]

Many credit card companies (at least in the UK) are now offering interest free periods - typically 6 months - when you take out their cards. And that includes interest on balance transfers. So an obvious way to help yourself out of the hole is to take out one such card, transfer your existing debt, and if you absolutely HAVE to use a credit card again make sure it's the interest free one. If you still haven't paid off the debt at the end of the promotional period, I see no reason why you shouldn't do the same again with a different card. I think the crucial rules are - once you've transferred the balance from your old card or cards, do not use them again. You have to remember that you're doing this to reduce your debt, not to give yourself an excuse to increase it! And commit to paying off a fixed amount every month against the new card, as much as you can afford and preferably by direct debit - it's surprising how quickly the debt reduces when you're not also having to pay interest.

[EricaH 0]

Yea, the interest free of 2% cards are great - IF you can get one!!

I have about $20K in CC debt & $30k in student loans. I call to follow up on an offer - they say they won't give me a CC cause they can't give me more credit. I say I just want to transfer one of my other card's balance to them, no "new" debt, don't THEY want to earn interest on me? (other cards are closed) - they repeat themselves, adnausiem, back & forth.

grrr... they say, pay 1 big one or 2 small ones off, then call back - how can I pay them off - other than jumping, I barely eat (actually, my s/o pays for my eating ) .

I hate CC companies. However, when there's an emergency (car, hospital, family problems far away, sale @ Barneys (JK)) - they're a VERY good thing to have.

There is no can't. Only lack of knowledge or fear. Only you can fix your fear.

PMS #227 (just like the TV show)

[speedy 0]

Was in debt a long time ago. I borrowed the money from a bank to pay it off and then fled the country I figured the bank would be less of a problem than the credit card company. I was right

Dave

Fallschirmsport Marl

[ryand96 0]

I got myself into about 8K worth of debt in college. Jumping, drinking, and too many credit cards make for a very bad combination. I charged my first 60 jumps without paying any of it off right away. I actually quit jumping for 3 years as a result until I had it all paid off.

I used every trick in the book. I would transfer my balances to any card that came in the mail offering any kind of introductory offer for a cheap interest rate. Took me two years after college to pay it all off.