The Conservative Cave
Current Events => The DUmpster => Topic started by: EagleKeeper on July 30, 2012, 05:37:00 PM
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cthulu2016 (3,473 posts)
Experiences with reducing/escaping credit card debt?
This is probably a topic of interest to many. Have you escaped large credit card debts, entirely or reduced through negotiation?
I don't mean by paying them off 100% or not having CC debt in the first place. (Both of those are rather obvious.)
I mean where circumstances arose such that you could not plausibly pay them off, or even service the interest.
I'm talking about renegotiation, principal reduction, bankruptcy, etc..
How did it work? What was your experience like?
http://www.democraticunderground.com/10021047953
Uh Oh, someone is in trouble.
This campfire has only 2 replies so far, it's early but it has potential.
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Sounds like someone in the ancient lost city of Rlyeh spend a whole lot more than he was making, and for a pretty good while.
:popcorn:
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I can't help there. I am a productive responsible member of society that uses the grace period and convince of plastic but not the 12% interest rates. Luckily the big-gov democrat totalitarian government diktat called Dodd-Frank will now make me go to cash to get out of paying the new swipe fee. Thanks democrat progressives.
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Oooo. Ooooo. I know!
You stop using the card. Cutting mine up is a fond memory. Then you scrimp in other areas and pay more than the minimum, and wah-lah, your credit card debt is gone!
Oh, wait... :thatsright: They want a special favor. They don't want to pay what they agreed to pay.
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As a PSA to DUmmies, Chapter 7 (liquidation) and Chapter 13 (repayment plan) stay on your credit report for ten years. Yeah, they say seven years, but financial
institutions have a nasty habit of keeping information on reports. Rather than be a slave to a credit card, why not follow the mantra "Cash s King". Sure FICO scores may
be lower, but you are in control of your own destiny rather than a financial institution "too big to fail". My banker is always to trying to upsale a HELOC or a personal line of credit every time he sees my financial statement. When I ask for zero percent the look on his face is priceless.
Always pay yourself first.
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Credit cards are the number one way libs can get free stuff. They don't see reneging on their agreement to repay as theft, which it is. It steals money out of the pockets of cardholders who do pay their bills.
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cthulu2016 (3,473 posts)
Experiences with reducing/escaping credit card debt?
This is probably a topic of interest to many. Have you escaped large credit card debts, entirely or reduced through negotiation?
I don't mean by paying them off 100% or not having CC debt in the first place. (Both of those are rather obvious.)
I mean where circumstances arose such that you could not plausibly pay them off, or even service the interest.
I'm talking about renegotiation, principal reduction, bankruptcy, etc..
How did it work? What was your experience like?
Typical dumbass, you didn't get into debt overnight and short of winning the lottery there isn't a magical solution to get out of it overnight either.
As others have stated, cut up the card(s), establish a monthly financial plan and stick to it, pay off the high interest one(s) first, learn from your experience and don't repeat your past failings.
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Every credit card I ever received came with a zero balance on it. Any balance charged against the card were purchases I made and consequently charges I was responsible for.
I think I see the DUmmies problem here. Responsibility is an unknown quantity to them.
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Well, I have reduced eight credit cards down to one with a balance. Most are store cards and only have a balance for a month and get paid in full.
I don't complain about balances and act like I don't owe them the money. I have a monthly budget I write out like this:
Week - 8/4 Pay $_______
Daycare - $_____
Bill #1 - $_____
Bill #2 - $_____
Savings - $_____
It's real basic, but it has helped me knock my debt to almost NOTHING. Once my last credit card is paid off, I'll be paying an extra $100 a month to my car.
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Two words: Dave Ramsey
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frustrated_lefty (2,552 posts)
3. Declared bankruptcy 2 years ago.
Lost everything to Katrina back in '05, followed by a divorce shortly thereafter. I simply couldn't make the minimum payments. You can find some calculators online which will give you an idea how long you'll be paying at a given rate. Here's one: http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx There finally comes a point where there's no crawling out of the hole.
I found a lawyer who would take installment payments for 6 months, roughly $2500 in total. At the end of that time, he filed the necessary paperwork and we went through the bankruptcy proceedings. It can be relatively painless assuming you've made good faith effort to pay your debts. It's certainly humiliating, and you want to have a budget lined out to insure you'll be able to live within your means afterwards. Sometimes it's the only way, though.
I lost everything in Katrina back in '05. Everything. I didn't take a single dime from the government even though I could have. No Road Home, no nothing. I had a few thousand in the bank, that's all. Seven years later I own a new home, have everything I want and still haven't taken anything from the government. Didn't need anything but my hard work. I do love my 65 inch TV.
Ooops. Sorry, I did take a debit card from the Red Cross because my bank was wiped out and I couldn't get to my cash. Within a couple of years I donated 10 times the amount I borrowed simply because I realized just how important Red Cross is.
If you can't go from being in poverty to making a living in ten years you don't deserve anyone's pity because you are pathetic. Get off your ass and make something of yourself.
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I love how he/she/it came out with "I don't have this problem but, I was just wondering". Like the guy who's "friend" has a sore on his dick.
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Two words: Dave Ramsey
I was going to say this, but you beat me to it. It is because of him that I cut up all my credit cards and do cash now.
The only things that should be on credit are a vehicle and your house. And maybe student loans, depending on who you are. Anything else should be paid with cash. Sure you may have to save up for it, but saving for it gives you a chance to think about whether you really want it or not.
Most DUmmies have a habit of racking up thousands in debt and then filing for bankruptcy because they don't want to pay it off. Frankly, it is their stupidity that got them there, so it should illegal for them to file for bankruptcy.
Here is a little factoid for the DUmmies: A credit card with a $1,500.00 balance will take you 20 years to pay off if you make the minimum payments. Why? Because of the stupid interest rate and double billing the credit card companies do.
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Live within your means, DUmmy, it really is that simple.
I once was a student and lived on very restricted income, so I had very restricted out-goings.
Then I had some starting out crappy paid work, I still paid off the overdrafts which I'd built up as a student by having few outgoings.
Now I have a significantly better paid job, dont have any debts and have saved some cash.
About to take a career shift which will lead to me never earning much, so I'll change my spending patterns to match.
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I don't mean by paying them off 100% or not having CC debt in the first place.
just WOW! always trying to find a way out of responsibilty
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Make a budget
Stick to your budget
Live below your means, not within your means below your means.
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I am doing Dave Ramsey now. I love it. It feels so good to pay a credit card off. It really feels good when I am shopping somewhere and they ask me if I will take their credit card.
I do use the Target CC and pay it off every month because I get 5% off my purchaes. I use the Costco Amex because I get 3% back on gas and 1% back on all other purchases. I get a nice check at the end of the year to buy Christmas presents with.
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I just thought of something. Dave Ramsey is about personal financial responsibility. I wonder what the breakdown is of libs vs cons that use his program. :???:
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just WOW! always trying to find a way out of responsibilty
I notice the way that "escape debt" is interpreted by us as "pay debt off" and by DUmmies as "never have to pay debt back".
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I just thought of something. Dave Ramsey is about personal financial responsibility. I wonder what the breakdown is of libs vs cons that use his program. :???:
I am thinking there are no libs. Mostly because he is a devout christian and he likes to say bible passages during his seminars.
As for his show, I can't listen to it. Mainly because most of the people who call in make $100k+ a year. It reminds me of watching 'House Hunters'. A person choosing between three houses, each one is over $500,000.00, and the husband calls it a 'Fixer upper'!
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Make a budget
Stick to your budget
Live below your means, not within your means below your means.
^This...and,
If your outgo exceeds your income, then your upkeep will be your downfall.
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We just have to realize that liberals spend money like the government does. No wonder they are bankrupt.
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I am thinking there are no libs. Mostly because he is a devout christian and he likes to say bible passages during his seminars.
As for his show, I can't listen to it. Mainly because most of the people who call in make $100k+ a year. It reminds me of watching 'House Hunters'. A person choosing between three houses, each one is over $500,000.00, and the husband calls it a 'Fixer upper'!
That's not my impression from his show.
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Well, I have reduced eight credit cards down to one with a balance. Most are store cards and only have a balance for a month and get paid in full.
I don't complain about balances and act like I don't owe them the money. I have a monthly budget I write out like this:
Week - 8/4 Pay $_______
Daycare - $_____
Bill #1 - $_____
Bill #2 - $_____
Savings - $_____
It's real basic, but it has helped me knock my debt to almost NOTHING. Once my last credit card is paid off, I'll be paying an extra $100 a month to my car.
Yeah but you are responsible.
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That's not my impression from his show.
Not mine either, but I like watching house hunters too. Especially the International ones.
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speaking of money.......I just went to lunch......meant to spend under $20 for me and hubby at Popeyes chicken and had to go to Ruby Tuesday and blew $40 because of a damn power failure :rant:
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^This...and,
If your outgo exceeds your income, then your upkeep will be your downfall.
For many years folks chided me about being a tightwad, Miser because I lived well within/below my means. Now I work because I want to not out of necessity . Like Trump said in his first book,to paraphrase "Making a fortune is relatively easy preserving one is work".
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speaking of money.......I just went to lunch......meant to spend under $20 for me and hubby at Popeyes chicken and had to go to Ruby Tuesday and blew $40 because of a damn power failure :rant:
You could have gone to chick-fil-a. :p
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For many years folks chided me about being a tightwad, Miser because I lived well within/below my means. Now I work because I want to not out of necessity . Like Trump said in his first book,to paraphrase "Making a fortune is relatively easy preserving one is work".
If you will do now, what people won't do, then later you'll be able to do what they can't afford.
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That's not my impression from his show.
I haven't listened to him in a couple of weeks, but the last time I did I listened for about an hour before shutting it off; and every caller said that they made $100k+ a year. One of them said that her and her husband make combined $350,000.00 a year. I want to hear from people make less than $100K a year. Mainly for the fact if you are making $350,000.00 a year, you can afford to pay for things with cash, and shouldn't be in debt to begin with. If you are, then you are seriously money management stupid.
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I haven't listened to him in a couple of weeks, but the last time I did I listened for about an hour before shutting it off; and every caller said that they made $100k+ a year. One of them said that her and her husband make combined $350,000.00 a year. I want to hear from people make less than $100K a year. Mainly for the fact if you are making $350,000.00 a year, you can afford to pay for things with cash, and shouldn't be in debt to begin with. If you are, then you are seriously money management stupid.
Like I said above, that is not my experience at all. I listen to him frequently, I have never heard someone call to say they made $350k a year. Most of the people I hear call make a modest income and really sacrifice to pay off their debt.
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I am doing Dave Ramsey now. I love it.
:rotf:
:-)
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I am doing Dave Ramsey now. I love it. It feels so good
I'm gonna wait to hear from Dave.
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I'm gonna wait to hear from Dave.
I missed the "it feels so good" part. :rotf:
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Like I said above, that is not my experience at all. I listen to him frequently, I have never heard someone call to say they made $350k a year. Most of the people I hear call make a modest income and really sacrifice to pay off their debt.
Me neither.
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I haven't listened to him in a couple of weeks, but the last time I did I listened for about an hour before shutting it off; and every caller said that they made $100k+ a year. One of them said that her and her husband make combined $350,000.00 a year. I want to hear from people make less than $100K a year. Mainly for the fact if you are making $350,000.00 a year, you can afford to pay for things with cash, and shouldn't be in debt to begin with. If you are, then you are seriously money management stupid.
Regardless of your income, anyone can be broke. By that I mean zero or negative net worth. People with higher incomes can be broke just as easily as those at lower income levels. The higher income broke people are just broke at a higher level.
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Regardless of your income, anyone can be broke. By that I mean zero or negative net worth. People with higher incomes can be broke just as easily as those at lower income levels. The higher income broke people are just broke at a higher level.
Yeah, I can see that. But you would think that making that much money, they wouldn't be. Unless they go on a big time spending spree all the time. I guess the adage of 'the more you make, the more spend' could be true.
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Yeah, I can see that. But you would think that making that much money, they wouldn't be. Unless they go on a big time spending spree all the time. I guess the adage of 'the more you make, the more spend' could be true.
You can have big time student loans, like a doctor, have business debt, etc.
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You can have big time student loans, like a doctor, have business debt, etc.
Or, you could have been a business owner that fell victim to our crappy f'n economy.
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Or, you could have been a business owner that fell victim to our crappy f'n economy.
H5
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Or, you could have been a business owner that fell victim to our crappy f'n economy.
What crappy economy? 0bama's policies worked.
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What crappy economy? 0bama's policies worked.
OY! :thatsright:
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What crappy economy? 0bama's policies worked.
He tried our plan and it didn't work. He tried his plan and it worked. We are saved!
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OY! :thatsright:
And according to the latest ad running on the Tee Vee Romney is the problem not the solution.
I swear if we had a real media 0bama wouldn't be able to get away with this crap.
He tried our plan and it didn't work. He tried his plan and it worked. We are saved!
Damn straight, it worked just as well as, the system did in stopping the underwear bomber.
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He tried our plan and it didn't work. He tried his plan and it worked. We are saved!
H5
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I swear if we had a real media 0bama wouldn't be able to get away with this crap.
We will have a real media when Romney takes office in January. Well maybe not a real media, but they won't be letting Romney get away with anything. They will be broadcasting the number of sneezes he does a day, and the size of the dump he takes.. Heck, they might even examine his shit and report what was in it.
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We will have a real media when Romney takes office in January. Well maybe not a real media, but they won't be letting Romney get away with anything. They will be broadcasting the number of sneezes he does a day, and the size of the dump he takes.. Heck, they might even examine his shit and report what was in it.
If Romney wins here is what will happen,
1 Homelessness will be reported as being at record highs.
2 There will be nightly "body counts" for the war in Afghanistan.
3 Every mistake he makes while speaking will be the headlines of the day.
4 Every time Anne wears anything other than clothes you can buy at Wal Mart they will say how out of touch she is.
5 Every vacation, golf game, or trip to the bathroom will be complained about.
6 8% unemployment will no longer be wonderful, but super depression levels.
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If Romney wins here is what will happen,
1 Homelessness will be reported as being at record highs.
2 There will be nightly "body counts" for the war in Afghanistan.
3 Every mistake he makes while speaking will be the headlines of the day.
4 Every time Anne wears anything other than clothes you can buy at Wal Mart they will say how out of touch she is.
5 Every vacation, golf game, or trip to the bathroom will be complained about.
6 8% unemployment will no longer be wonderful, but super depression levels.
They will also:
1 be having a nightly tally of the national gas prices.
2 Claiming that we are in another depression
3 Complaining about how bad the economy is
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They will also:
1 be having a nightly tally of the national gas prices.
2 Claiming that we are in another depression
3 Complaining about how bad the economy is
Can't believe I forgot gas prices. :doh:
H-5 for making me look bad. :-)
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Can't believe I forgot gas prices. :doh:
H-5 for making me look bad. :-)
:lmao: I had to do a double take to make sure you didn't have it.
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4 Every time Anne wears anything other than clothes you can buy at Wal Mart they will say how out of touch she is.
But if she shops at Walmart, they will attack her for that too.
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I was watching Hannity last night and he had a liberal moron on there saying that since Mooch-elle is the First Lady, she has to dress with $6,000.00 coats and Expensive clothes. And since Ann Romney is not the First Lady, she shouldn't be allowed to. Someone explain that to me? :mental: :thatsright:
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I was watching Hannity last night and he had a liberal moron on there saying that since Mooch-elle is the First Lady, she has to dress with $6,000.00 coats and Expensive clothes. And since Ann Romney is not the First Lady, she shouldn't be allowed to. Someone explain that to me? :mental: :thatsright:
They can't stand someone making money and not having to give it up to some lazy person.
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They can't stand someone making money and not having to give it up to some lazy person.
That is true there. The thing with the Mooch-elle's clothes is that us tax payers pay for it. Ann Romney buys all her own. But hey, according to the DUmmies, she deserves it.
I will bet 10 to 1 that when Romney is put in office, they will still be complaining about the clothes Ann wears.
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If Rmoney is elected, the owebumaManiaMedia will start trumpeting about how our credit rating was lowered, as if it didn't happen as a direct result of owebuma's policies.
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I was watching Hannity last night and he had a liberal moron on there saying that since Mooch-elle is the First Lady, she has to dress with $6,000.00 coats and Expensive clothes. And since Ann Romney is not the First Lady, she shouldn't be allowed to. Someone explain that to me? :mental: :thatsright:
Wasn't that Tamera ""Sex with Jessie Jackson" Holder?
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Regarding Michelle Obama's ridiculously priced jacket/top, it was the nicest thing I have seen her wear (sands a few beautiful dresses). I would actually wear it if i had the money to buy it. The rest of her garb is ugly as hell.
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Wasn't that Tamera ""Sex with Jessie Jackson" Holder?
I can't stand TAMARA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!11
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Regarding Michelle Obama's ridiculously priced jacket/top, it was the nicest thing I have seen her wear (sands a few beautiful dresses). I would actually wear it if i had the money to buy it. The rest of her garb is ugly as hell.
I didn't think the brocaded jacket went very well with the plain white dress.
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Wasn't that Tamera ""Sex with Jessie Jackson" Holder?
No, it wasn't here. It was someone else. I can't think of her name. I can picture her, but I can't think of her name. :thatsright:
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No, it wasn't here. It was someone else. I can't think of her name. I can picture her, but I can't think of her name. :thatsright:
I could have sworn it was her...
(http://a0.twimg.com/profile_images/2224300681/Screen_Shot_2012-05-16_at_3.21.18_PM.png)
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Nope, it wasn't her. It was another liberal lady. Man, this is going to drive me nuts. I went through his show archive for the week and it isn't in there. She was on Monday.
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I didn't think the brocaded jacket went very well with the plain white dress.
I liked it....
(http://i.dailymail.co.uk/i/pix/2012/07/29/article-2180702-143F5D94000005DC-508_306x703.jpg)
Still says nothing of the lefts hypocrisy when it comes the Romney's or their utter blind fashion taste when it comes to MO's regular wardrobe.
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Nope, it wasn't her. It was another liberal lady. Man, this is going to drive me nuts. I went through his show archive for the week and it isn't in there. She was on Monday.
I saw the same segment. I think you are correct, it wasn't Tamara Holder.
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I'm glad Mooch finally wore something nice for a change. She looks good.
It sure beats those booby-belted outfits she wore earlier.
Those things were atrocious. :puke:
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With a head to toe shave, and cleanup, and some decent clothes, the wookieyeti can look quite presentable.
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I didn't think the brocaded jacket went very well with the plain white dress.
Did you really just say that? :thatsright:
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Did you really just say that? :thatsright:
Isn't it what is called brocaded? :-)
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Did you really just say that? :thatsright:
:rotf: h5
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Isn't it what is called brocaded? :-)
Oh jeez. I don't know. :???:
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I liked the outfit but her ass is too stout for that jacket going over the back like that. But she did look better than I have seen her. There is one time I saw her and she was stunning! I'll try to find it
She needs to keep her hair down like this
(http://hairregrownaturally.net/wp-content/uploads/michelle-obama-hair-natural.jpg)
and quit doing the slicked back in a tiny bun with what hair she has
She looks stunning here (http://www.dailymakeover.com/wp-content/uploads/2011/01/Michelle_Obama-cropped-proto-custom_7.jpg)
She looks pretty here (http://www.celebritydresses100.com/media/catalog/product/cache/1/image/9df78eab33525d08d6e5fb8d27136e95/m/i/michelle-obama-coffee-dress-white-house-dinner-2011-04.jpg)
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I liked the outfit but her ass is too stout for that jacket going over the back like that. But she did look better than I have seen her. There is one time I saw her and she was stunning! I'll try to find it
She needs to keep her hair down like this
(http://hairregrownaturally.net/wp-content/uploads/michelle-obama-hair-natural.jpg)
and quit doing the slicked back in a tiny bun with what hair she has
She looks stunning here (http://www.dailymakeover.com/wp-content/uploads/2011/01/Michelle_Obama-cropped-proto-custom_7.jpg)
She looks pretty here (http://www.celebritydresses100.com/media/catalog/product/cache/1/image/9df78eab33525d08d6e5fb8d27136e95/m/i/michelle-obama-coffee-dress-white-house-dinner-2011-04.jpg)
She looks better in that blue dress, but those three pictures make her look better because she looks like she has genuine smile instead of the forced one she usually has on her face.
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She was on again tonight. Her name is Leslie Marshall.
(http://www.lesliemarshallshow.com/wp-content/uploads/2009/11/leslieAbout.jpg)
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Still looks like a wookie to me.
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She was on again tonight. Her name is Leslie Marshall.
Holy airbrushing, Batman.
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Holy airbrushing, Batman.
Looking at what she looked like last night. I would agree with that. She looked like a mess last night.