How many of your are in $10,000+ credit card debt?
 

How many of are you in $10,000+ credit card debt and only paying monthly minimum ?

working on something want to know if there will be enough interest .. cast your yes no vote on this thread.

Nope. I have two debit cards with high daily limits. Works great for me.

Not me. My shit's under control.

jebus, no fucking way. There has been one time in my life where I didn't pay of a card that during that months statement. That one time it was paid off the next time. Fuck those high rates.

People don't really like to admit they are bad with money.

Why don't you share your idea and then everyone can tell you if they think it would help out their "friends". :-)

good advise

I only use my credit card to get points... I pay it off every month and often before I get the bill.

no problem here ... only owe ~800 to collection agencies :)

</lol>

no debts at all :)

Zero Debt here. 1 Credit card at 9% with 34.00 bill due.

Debt free here. Had to pay off about $22k counting student loans, etc.... Did a 6 month budget and knocked it out.

Now if I could only get my house to have some equity again...

I have just the one card with no monies owing :D

nope, none at all ..

Same here.
:2 cents:

Some credit place called the other day with consolidation this and reconciling that.. and I cut him off and said "Other than my mortgage, I already am debt free." and he was totally speechless.

Kinda got me to thinking, he had probably never run into someone who didn't have a ton to pay in CC's and loans. It's that rare that they can pretty much write their schtick with confidence that it will simply apply to everyone.

It's a sad state of affairs.

I have a few credit cards, but the one with the highest balance has 0% for a few more months. Even before it hits that mark, it will be well paid off. Most of my debt is business startup costs and moving, not personal shopping sprees. id much rather be paying at 0% to a credit card company and having my money make a return (about 3% per month), then pay it off now.

i get a lot of offers to switch cards thru the bank, but the fine print reads i will loose the 0% :1orglaugh:1orglaugh nice try bank, i dont want your bonus points and free plane tickets i will never be able to use.

I know there are a LOT more people going into credit card debt now, probably more than before. most people have the thinking "things will get better and ill get a better job" but stuggle to make the minimum payment each month

Let me guess, you want lend people $$ at 15% for people to pay off their cc debt?

:1orglaugh:1orglaugh

If u are in big debt go to http://suzeorman.com/ or watch her on MSNBC, she explains thing very nicely. Did u know u can have your cc collection agency reduce your debt? So it is possible you can just pay them say 2K and they'll write off your 10K debt. See the link I gave you if u are in debt.

A friend of mine wrote off 37K debt for just 13K. He's buying me lunch everyday now for helping him :)

I was in some serious debt when my ex-business partner got busted, but it's all cleared up now and im a free man. :)

No. I have always been careful with credit cards and credit in general.

:1orglaugh:1orglaugh WOW! no wonder why this country is in such shit. why cant people pay their bills?

im sure its nicely noted on his credit history of the charge off, plus good luck ever getting a credit card with that bank again.

:mad: thats what im pretty much paying for right now. ive learned never to trust anyone with starting a business or lending money; regardless of friend or not.

No man it doesn't show charge off in cc history. You probably need to read what's on the site too. You paid the cc company with a moneyorder as Suze say not to give your bank check. On that money order write something like "paid in full - all charge clear if this money order is cashed".

It won't work for everyone, it depends on your situation and how bad in debt you are in. If they think u will most likely file for bankrupt for example, they'll most likely take the money, because once you file for bankrupt it very very hard for them to come after you.

I haven't had a credit card since 1998 or so. Fuck that shit.

I have a line of credit with Dell, but that's mostly for buying computers.

Yeah, but the debt would need to go into collections; hence it would have to go into a delinquent status with the original creditor first... thus reporting at 90+ days past due, if not "charge off" on your credit history. it would probably say "Paid" but you are still looking at a charge off/derogatory trade line - not worth it!

Collection agencies, for the most part, are easy to get rid of, but getting the original creditor to be gone is difficult for most (if CC is < 3 years old).

With the note on the money order, that is not legal. You can not denote a contract on a cashiers check or money order like that, it would never hold up in court. it would be the same as me writing "you have to wash my car for 5 years" on a $5 bill that you cash in at WalMart.

Im not saying you are 100% wrong, and yes there are ways around things. I got into the legality of credit debt and collections a few years ago with a friend, but chose to take a different path since that is one tough and stressful market.

Here is an easier plan, and you can walk away paying $0 for $100k in debt! just stop paying everything and walk away. change your phone number(s) and move and do not forward your address. do not apply for credit cards or a new job, cell phone or insurance for 7 years... 7 years later, you are 100% debt free and perfect credit :1orglaugh:1orglaugh

no debt here either

Yeah, Start everything yourself. If you need to have a partner, never have a bank account unless both partners have to sign to withdraw money. - My big mistake! :Oh crap

hell no!
Who in their right mind would get that much in debt?
I think the most i was ever in debt was about 1k when i was a student but i made it priority to pay that shit off.

Uhm.... most people?
I know everyone on GFY is perfect but the sad reality is that most people have a lot of debt.

Accord in satisfaction - may want to look it up. Yes you can add a note to a check, money order, etc. and have it be legal if you do it right. They or anyone else can also just write paid under protest near where they sign it to void it. It also is held up in court all of the time.

As to your 7 year plan you would not come out with perfect credit. You would just have no derogatory credit in past 7 years, also no positive credit and forget about a credit history. That can and often is as bad as having a negative credit rating.

I have 2 creditcards, i always pay them on time, don't feel like paying almost 18% interest..