credit card debt

[bigwhiskers65]

anyone out there ever have it ,still have it and what did or are you doing about it.
i see all these commercials about getting out of credit card debt etc with these agencies// do you think they work ,,has anyone ever tried it , successfully ?
would like to hear your opinions

 

[Seasoned]

Check for the option of a no fee service in your state. Some states have provisions that credit card companies kick into a non-profit fund for this purpose. You promise not to charge and they are able to take your payment and apply it to your debt. Interest is either eliminated or substantially reduced. The other option is bankruptcy. If you are over your head explore these options. You will not be able to do it alone. You may PM me anytime.

 

[954dude]

You got yourself in it, work yourself out of it.

1. Stop using the credit cards. (cutting the card is optional)
2. Make your payments on time.
3. Pay a little more than the minimum due.
4. If necessary, lose the account once the balance has reached $0.

 

[AUmatty]

My parents used some kind of debt consolidation company when I was young. It worked beautifully for them, so it's just a matter of finding a good one and sticking to it!

If you continue to buy things you can't afford then it's all for naught. I pay my bill off every month. Never paid a cent of interest on my CC. Of course, that's easy to do when you've got student loans padding your account. I dread my financial situation post-graduation.

 

[metta]

careful on choosing a company. that industry is notroious for corruption and getting stuck in a worse situation. make sure that you read and understand everything before signing anything. If you do use one, only use one that is recommended by a government agency and a non-profit.


http://www.justice.gov/ust/eo/bapcpa/ccde/cc_approved.htm

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm

 

[irish1]

Credit cards should be outlawed.

I was in debt three times. Each time I owed $2,000, not alot (circa 1985), but a pain in the ass.

Pay off the card with the highest credit rate first. Rinse and repeat with the next highest card..

See if you can conbime all your cards together with a good rate and pay off that way.

Listeb to Suze Orman. She knows what she is talking about and she's a lesbian ;-)

I havent owed anything on credit cards for 14 years and it feels great. If I use my credit card, I make sure I have the money to pay when the bill comes

Great, great advice.

I have the American Express (for business), and one Visa (corporate card). I pay them immediately.

I am debt-free because I cut up all my cards a few years ago, and started paying cash for everything.

I use my debit card--just a warning, though: make sure you post your expenses as soon as you make them in your ledger-otherwise you can pull your hair out.

Good friends of mine had gotten into serious trouble a few years ago, and also used a debt-consolidation non-profit. It made all the difference in their lives, and the stress debt can bring with it.

My credo is: do I really need it? The answer is usually "no", and I save the money for another time.

 

[AtomicLovePuppy]

I recently just got out of credit card debt... It is the most freeing thing I've ever done. The first thing I did was call my debtors and tell them that I am willing to pay then, if they work with me. I had one allow me to pay as I could without having any finance charges added. Another one I called gave me my first APR % of 3% instead of the 16% I was currently at. And one by one, I paid them off.. Start with the smaller amount.. Get rid of those first, while you still make minimum payments on the other ones, and just work up to the bigger balances from there. If you keep in contact with your creditors and not ignore them, they're more willing to help you and they're usually more flexible. I hope this helps! Good luck!

 

[rareboy]

If it takes you longer than 3 months to pay off a credit card debt, you couldn't afford the purchases.

If you are addicted to validating yourself through shopping, get some counselling help. If you are just as dumb as a ton of bricks about finances, get some guidance.

It is amazing that people allow themselves to be sold into slavery through debt or that just as bad, there are so many people with so little self-worth that they have no problem with the idea of buying everything they want and then sticking everyone else with the tab when they go bankrupt.

 

[bigwhiskers65]

nice to get some input ..mine is more about job loss, legal fees and other matters. im not going out there charging stuff anymore ,just trying to survive.. i think ill try one of those govt recommended agencies.

thanks

 

[boxerdudeuk]

i have one card with a giant limit on it but i rarely if ever use it. i'm a cash guy.

 

[rareboy]

^^definitely see a credit counsellor and they'll help you make sense of it all.

Good Lord, In the US, there must be an epidemic of people who have lost everything thanks to the cupidity and greed of the Wall Street banks.

 

[hotatlboi]

I have about 6k in credit card debt, but most of that was from college where I didn't work very much.

I've never missed a payment though and I'm not worried about it because I have a good job now and am paying it off.

Agree with the others here who said if you got into debt, it's your responsibility to pay it off.

The sense of entitlement is way too prevalent in our society today.

 

[dpnice]

I must be honest and admit that I have absolutely no sympathy for those in debt and unable to pay. Basically because it would never even cross my mind to buy something that I didn't have the money to pay for; credit is for those essentials that one could never buy for cash, ie. a home.

But there are those people in debt due to conditions out of their control not due to an excess of consumer spending; health and legal costs for example.

For those cases I sympathise deeply and just thank fate that I have never found myself in a situation where I was unable to cover such costs.