Do you owe more than 15000 in credit card debt?

I owe -$0.00-

 

About three years ago I changed jobs and went to school to further my career. Not only did I take a drastic paycut, I also had a child.

Two months left of school and I will be making some good money, and on the road back to "the black".

Its not as if I were out buying silly items like Gym sets, plasma TVs, seal-a-meal, or the ronco food dehydrator. Mostly gas purchases, grocery store visits and other baby related items.

 

Jason, you didn't seem too concerned about it when you bought your new laptop while youwere laid off.

 

Are you guys bro's?

 

I got mine taken down to zero by threatening to file suit against them for fraud

 

My husband and I were up to about 15K at our worst. Mostly due to me working at home and not earning enough while his job wasn't that great either. Got to it's worst with a few car problems and then medical bills for my son.

Now I expect to have them paid off within 3-4 months. It's nice earning enough at last to get out of debt. Once we make it there, though, it will be straight back into debt, but for things that matter. Replacing my car because it's at that point where repairing it isn't worth it, then saving hard for a house.

 

Ouch, no i do not.

 

50k bucks is too much, no never. But i had 2000 once I was so in the shit to pay back.

 

That was an investment...............

 

... No debt yet, I have refused to get a credit card. I use my banks debit card, that can work as a visa if needed. There are no fees, but you cant charge any. If I were 15k in the whole I would be working 3 jobs or something.

 

Sheesh

One of the first businesses I started was a non profit consumer credit counseling service in the late 80s and people were coming in with $40,000.00 to $80,000.00 in credit card debt.

My edit is I thought alot of the US was this deep in debt ....but perhaps due to living in the city things are higher priced..other more expensive cities could be worse ???? San Fran Boston NYC....very expensive just to find a closet to rent....

Personally

Ive been kinda of well off

Broke

Had some cash

Broke

Had a bit more cash

Last Broke... 3 years ago ..had one package of chicken, box of pasta and gravy left to fed my family of five....credit wiped out lol...people calling, I'd beg Verizon and send bad checks to keep DSL on....Hocked jewelry......hocked wifes diamond anniversary band...was able to get it back thankfully.

This past year payed off my home, took 18 years. No car loans... 2 credit cards with credits on them Bought my wife a 2 carat past present and future diamond necklace for christmas..... for standing by each time I build another business..and am headed past 10K per month.

I am truely lucky and amazed

Peace

 

I don't owe that much - yet.

 

There are ways to get around CC debt. Try talking to your bank to get a personal loan to pay down balances.

15K in CC debt is stupid, keeping it on the card is even worse.

 

We had pretty substantial credit card debt. My husband does not allow me to make full disclosure ;> But we dug ourselves out of a deep hole with a lot of hard work and some fancy financial footwork.

1. Add everything up so you know your true debt (most people are in denial)
2. Cut everything up
3. Consolidate everything so you are dealing with one payment (the late fees and interest will make it impossible to pay off otherwise)
4. Make a plan to deal with the balance, rework your budget to the bone and stick to it; take on any and all extra work you can; sell off everything you can; explore all options to borrow. Any interest you pay on a debt consolidation loan is going to be better than the rate the credit card companies are charging you.

Whew! Good luck, it can be done, but it won't be easy.

Just before Christmas my husband talked about getting a credit card. My scream could be heard around the world. He said never mind and slunk off. We had a good Christmas anyway and our munchkin got all he wanted and more and come January no bills! Now that's a great Christmas present!