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Posted: 3/17/2006 10:10:29 AM EDT
Thanks to our Government my CC bills went from low to high. I can't wait to be debt free, I hate CC companies now, a little more than my Government for approving it. Anyone else feeling the sting?
Link Posted: 3/17/2006 10:11:13 AM EDT

Originally Posted By Combatvet:
Thanks to our Government my CC bills went from low to high. I can't wait to be debt free, I hate CC companies now, a little more than my Government for approving it. Anyone else feeling the sting?



no
Link Posted: 3/17/2006 10:11:50 AM EDT
no
Link Posted: 3/17/2006 10:12:17 AM EDT
debit card/cash
Link Posted: 3/17/2006 10:12:17 AM EDT
Debt free is the only way to fly.
Link Posted: 3/17/2006 10:12:49 AM EDT
YES.
Link Posted: 3/17/2006 10:13:11 AM EDT
Finally an honest man.

Originally Posted By Rock7:
YES.

Link Posted: 3/17/2006 10:13:18 AM EDT
The only reason I am going to feel the sting is because I just got laid off indefinitely today. It could prove to be a tough year for the Simpson family. I have to start getting some resumes out.
Link Posted: 3/17/2006 10:13:50 AM EDT
Pay it down or get a HELOC/refi. Problem solved.
Link Posted: 3/17/2006 10:15:27 AM EDT
Don't know about you guys but........ My family's monthly bills for CCs has gone down about 20% since the govt 'rate hike'.
Link Posted: 3/17/2006 10:16:07 AM EDT

Originally Posted By j-fonz:
Pay it down or get a HELOC/refi. Problem solved.



problem is a lot of people did that and milked every last penny of equity in their houses and ran the cc debt back up...

the times ahead aren't gonna be very nice to a few people...

Link Posted: 3/17/2006 10:16:44 AM EDT
If you are carrying the same balance I find that hard to believe. Unless you had your rate lowered.
Link Posted: 3/17/2006 10:18:40 AM EDT
After 26 years of bankruptcy practice and seeing what credit card debt can do to folks, I don't have one, I don't want one!

Same reason I don't go to topless clubs since the Ex-Miz Hun and I got back together.

'A man's got to know his limitations.' - Harry Callahan (Clint Eastwood), Magnum Force, 1973

Eric The(Sensible)Hun
Link Posted: 3/17/2006 10:18:48 AM EDT
You are only NOW beginning to hate credit cards? wtf? I guess the government law had the desired effect.

It simply requires you to pay a little more than just the interest.

Seriously, pay them off. Do whatever you need to do. Sell some guns if necessary. Pay them off. Do not spend more than you earn. Do not carry a balance. Ever. Credit cards are the devil.

Indebtedness is slavery.
Link Posted: 3/17/2006 10:20:53 AM EDT

Originally Posted By EricTheHun:


the Ex-Miz Hun and I got back together.

Eric The(Sensible)Hun



You got back together with your ex-wife?

Sensible you say?

Link Posted: 3/17/2006 10:22:36 AM EDT
Honestly... No.

My wife and I haven't carried a balance on any of my credit cards in 12+ years, not once.

No idictment on anyone who has or does carry balances - my family does it all the time as a matter of course. But I can't bring myself to let it happen to me. Even when we had to tighten our belts to make the payment, we did it. Lots of Ramen noodles were eaten!
Link Posted: 3/17/2006 10:22:54 AM EDT

Originally Posted By livefreeordieNH:

Originally Posted By EricTheHun:


the Ex-Miz Hun and I got back together.

Eric The(Sensible)Hun



You got back together with your ex-wife?

Sensible you say?




Hang around awhile, you'll find that they'll all be "Ex-Miz-Hun".....some just don't know it yet.
Link Posted: 3/17/2006 10:23:07 AM EDT
No. Then again, I don't have debt.
Link Posted: 3/17/2006 10:26:16 AM EDT

Originally Posted By livefreeordieNH:

Originally Posted By EricTheHun:


the Ex-Miz Hun and I got back together.

Eric The(Sensible)Hun



You got back together with your ex-wife?

Sensible you say?




Link Posted: 3/17/2006 10:29:25 AM EDT

Originally Posted By Tactical_Jew:

Originally Posted By j-fonz:
Pay it down or get a HELOC/refi. Problem solved.



problem is a lot of people did that and milked every last penny of equity in their houses and ran the cc debt back up...

the times ahead aren't gonna be very nice to a few people...




Stupidity is supposed to hurt. Blaming Credit Cards because a person has NO self control is the same as blaming Guns for a high crime/murder rate. In the long run, this new ‘program’ will reduce Consumer Debt, just gonna’ hurt some people for a while.
Link Posted: 3/17/2006 10:32:54 AM EDT
nope. paid off $4k in CC debt last summer. got $300 on the only remaining card I have. limits $500.
Link Posted: 3/17/2006 10:33:07 AM EDT
I do suppose I am stupid. Stupid for getting hurt in Iraq, stupid indeed. I used CC's to put food on the table while I waited and waited for my company to get off its ass and pay me.

I think it is going to have the opposite effect on consumer debt. I predict it will raise the level of default on debt. Not in this household though. We'll get them paid off soon enough.

I didn't ask you to insult me, I guess it's just in your character to be an asshole.
Link Posted: 3/17/2006 10:34:02 AM EDT

Originally Posted By Wraith:

Originally Posted By Tactical_Jew:

Originally Posted By j-fonz:
Pay it down or get a HELOC/refi. Problem solved.



problem is a lot of people did that and milked every last penny of equity in their houses and ran the cc debt back up...

the times ahead aren't gonna be very nice to a few people...




Stupidity is supposed to hurt. Blaming Credit Cards because a person has NO self control is the same as blaming Guns for a high crime/murder rate. In the long run, this new ‘program’ will reduce Consumer Debt, just gonna’ hurt some people for a while.

Yep, provides incentive to pay off debt instead instead of just paying off the intrest for years and years.
Link Posted: 3/17/2006 10:39:28 AM EDT
?



Someone made purchases with a credit card, and now the credit card companies want to be paid back? GASP!
Link Posted: 3/17/2006 10:54:34 AM EDT

Originally Posted By Combatvet:
I do suppose I am stupid. Stupid for getting hurt in Iraq, stupid indeed. I used CC's to put food on the table while I waited and waited for my company to get off its ass and pay me.

I think it is going to have the opposite effect on consumer debt. I predict it will raise the level of default on debt. Not in this household though. We'll get them paid off soon enough.

I didn't ask you to insult me, I guess it's just in your character to be an asshole.



I will assume your comment is directed at me. Reading is fundamental. Go back and re-read my post and what was quoted and if you still want to stand by your “A**hole” comment. We can discus who the ‘A**hole’ is. If it was not directed at me, then I apologize for any misinterpretation on my part.
Link Posted: 3/17/2006 11:06:33 AM EDT

Originally Posted By livefreeordieNH:

Originally Posted By EricTheHun:


the Ex-Miz Hun and I got back together.

Eric The(Sensible)Hun



You got back together with your ex-wife?

Sensible you say?






No, I think he meant the Ex-Miz Hun, not the Ex Mrs-Hun....
Link Posted: 3/17/2006 11:07:59 AM EDT
I've recently cancelled all of my cards. I never needed them, and I sure don't need them now. So...no. I haven't felt the sting.
Link Posted: 3/17/2006 11:11:38 AM EDT
No, I am a firm believer in personal responsibility.
Link Posted: 3/17/2006 11:12:53 AM EDT

Originally Posted By livefreeordieNH:

Originally Posted By EricTheHun:


the Ex-Miz Hun and I got back together.

Eric The(Sensible)Hun



You got back together with your ex-wife?

Sensible you say?




Link Posted: 3/17/2006 11:14:47 AM EDT

Originally Posted By Combatvet:
Finally an honest man.

Originally Posted By Rock7:
YES.




The rest of us must not be honest men.


Originally Posted By Combatvet:
I didn't ask you to insult me, I guess it's just in your character to be an asshole.

Link Posted: 3/17/2006 11:15:45 AM EDT

Originally Posted By Wraith:

Originally Posted By Tactical_Jew:

Originally Posted By j-fonz:
Pay it down or get a HELOC/refi. Problem solved.



problem is a lot of people did that and milked every last penny of equity in their houses and ran the cc debt back up...

the times ahead aren't gonna be very nice to a few people...




Stupidity is supposed to hurt. Blaming Credit Cards because a person has NO self control is the same as blaming Guns for a high crime/murder rate. In the long run, this new ‘program’ will reduce Consumer Debt, just gonna’ hurt some people for a while.



+1
Link Posted: 3/17/2006 11:16:28 AM EDT

Originally Posted By livefreeordieNH:

Originally Posted By EricTheHun:


the Ex-Miz Hun and I got back together.

Eric The(Sensible)Hun



You got back together with your ex-wife?

Sensible you say?




And I used to think the Hun was a smart man.
Link Posted: 3/17/2006 11:17:26 AM EDT
No, not because I dont have debt, but because I never made just the minimum payment.
Link Posted: 3/17/2006 11:18:02 AM EDT
I've been feeling it a bit. The minimum payments on my accounts went up. I'm pretty pissed.

What really sucks balls for me is that I moved recently to a bigger apartment, and have had a TON of bills and extra costs thrown at me because of it. I'm about to get ~$1100 bonus that I was going to dump into debt. Even with a buttload of OT on this next check, all these bills piled up will probably only leave me with about $300 of that bonus to pay into debt.

I'm getting really motivated, and my goal will be to drop about $500 into it all monthly until it's gone.
Link Posted: 3/17/2006 11:20:33 AM EDT
Don't carry a balance so I don't feel it at all.
Link Posted: 3/17/2006 11:21:59 AM EDT
No credit card debt here.
Link Posted: 3/17/2006 11:23:37 AM EDT

Originally Posted By Combatvet:
I do suppose I am stupid. Stupid for getting hurt in Iraq, stupid indeed. I used CC's to put food on the table while I waited and waited for my company to get off its ass and pay me.

I think it is going to have the opposite effect on consumer debt. I predict it will raise the level of default on debt. Not in this household though. We'll get them paid off soon enough.

I didn't ask you to insult me, I guess it's just in your character to be an asshole.



Many of the credit card companies agree with you. They predict increased defaults and bankruptcies.

I had my bad time with credit cards after we got married and couldn't find work. I think this new policy will on the whole benefit people but it is going to be some tough medicine right now.
Link Posted: 3/17/2006 11:27:38 AM EDT
Nice, I'm just about to snag about $500 worth of overtime next month... and hope I can get more. I'm going to try to be working a lot. I have quite a bit of CC debt, and a couple of the accounts have totally jacked up the interest rates. It pisses me off.

As soon as I get them paid off, I'm closing all but one (probably my USAA Mastercard, they have NOT jacked up my rates, and treat me right), but will probably have them lower the limit to something more sane, that I could pay off relatively quickly in the event of an emergency.
Link Posted: 3/17/2006 11:45:16 AM EDT
FWIW the credit card industry didnt ask or want the increase of minimum payments.

Some anti-debt lobby promoted it.

The credit card lobby didnt want it passed because they know some people wont be able to keep up, and will default.

IMO I'm glad it was passed. Defaulting really isnt that bad for the average person with bad credit already.
Link Posted: 3/17/2006 11:46:23 AM EDT
No.
It's actually for your own good to have a realistic payment schedule.



(Pay mine in full each month)
Link Posted: 3/17/2006 11:59:18 AM EDT
Increased monthly payments are a good thing. They are screwing you less now, not more.

Credit card debt is like wearing a concrete necklace around; all day, every day.
Link Posted: 3/17/2006 12:02:32 PM EDT

Originally Posted By GySgtD:
Increased monthly payments are a good thing. They are screwing you less now, not more.

Credit card debt is like wearing a concrete necklace around; all day, every day.



When the legislation was going through and everyone was complaining about it I recall shouting at my TV "this is for your own good!"...

...

Now that I think about it, I shout at my TV a lot. I'm not even an old man yet! I'm a 34 year old curmudgeon!
Link Posted: 3/17/2006 12:08:57 PM EDT
No.
Link Posted: 3/17/2006 12:10:56 PM EDT

Originally Posted By macman37:

Originally Posted By GySgtD:
Increased monthly payments are a good thing. They are screwing you less now, not more.

Credit card debt is like wearing a concrete necklace around; all day, every day.



When the legislation was going through and everyone was complaining about it I recall shouting at my TV "this is for your own good!"...

...

Now that I think about it, I shout at my TV a lot. I'm not even an old man yet! I'm a 34 year old curmudgeon!



33 year old curmudgeon here.

I got so mad at my TV I kicked it out of the house.
Link Posted: 3/17/2006 1:31:56 PM EDT

Originally Posted By ShackleMeNot:
Debt free is the only way to fly.



Definitely. I haven't paid interest to the CC companies since about 1993.

Don't charge more than you can pay off when the bill comes.
Link Posted: 3/17/2006 1:44:59 PM EDT

Originally Posted By Combatvet:
Finally an honest man.

Originally Posted By Rock7:
YES.




... So you're insinuating that those answering NO are liars

... Have you considered the concept that some folks perhaps know how to manage their finances?
Link Posted: 3/17/2006 1:58:38 PM EDT

Originally Posted By Wraith:

Originally Posted By Tactical_Jew:

Originally Posted By j-fonz:
Pay it down or get a HELOC/refi. Problem solved.



problem is a lot of people did that and milked every last penny of equity in their houses and ran the cc debt back up...

the times ahead aren't gonna be very nice to a few people...




Stupidity is supposed to hurt. Blaming Credit Cards because a person has NO self control is the same as blaming Guns for a high crime/murder rate. In the long run, this new ‘program’ will reduce Consumer Debt, just gonna’ hurt some people for a while.

Exactly. My credit cards have never jumped out of my wallet and charged themselves!
Link Posted: 3/17/2006 1:59:54 PM EDT

Originally Posted By ShackleMeNot:
Debt free is the only way to fly.



+87000000000000000infinity
­

if you don't have the cash on hand to buy it, DON'T DO IT!
Link Posted: 3/17/2006 2:05:26 PM EDT
I have a grand on the card from ordering ammo but I have the money already put aside to pay it as soon as I get the bill. That is the only way to use a CC. I get some protection by using it but they only make money off the company and nothing from me.

Never ever, EVER!!!!! carry a balance from month to month and you will be fine.

By mid year, all I will owe is a 500 a month house payment. [15 year-3+dbl payment after all other debt paid off] Live cheap, live happy.
Link Posted: 3/17/2006 2:10:58 PM EDT

Originally Posted By Combatvet:
I do suppose I am stupid. Stupid for getting hurt in Iraq, stupid indeed. I used CC's to put food on the table while I waited and waited for my company to get off its ass and pay me.

I think it is going to have the opposite effect on consumer debt. I predict it will raise the level of default on debt. Not in this household though. We'll get them paid off soon enough.

I didn't ask you to insult me, I guess it's just in your character to be an asshole.

Actually, you started the insulting when you called all the people who aren't financially irresponsible liars. It's just not nice to call someone a liar, especially when you have absolutely no evidence of that. They didn't ask to be insulted by you, now did they? You simply opened yourself up to insults with your childish behavior.

Here is your post:

Originally Posted By Combatvet:
Finally an honest man.

Originally Posted By Rock7:
YES.


Link Posted: 3/17/2006 2:15:31 PM EDT
Dont have a CC. They raised the rates? Thats gotta suck.
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