Obviously a large portion of the American population is in debt...I’m approaching my mid-twenties and the whole idea of owing credit card companies $$ and starting to save for a house (and I live in CA) is kind of stressing me out...(I'm paying for silly mistakes I made in college) oh well, eventually I will pay them off :) Have a wonderful Friday night!
2006-08-11 13:40:31 · 16 answers · asked by Señorita 2 in Business & Finance ➔ Credit
well, I don't promise anything but
people in debtoften seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
good luck!
2006-08-14 15:04:24 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You are right there are more people than not that have credit card debt. It is very easy to fall into that trap especially when you have money issues. However, if you think about it, people would have more money if they didn't spend on credit card payments! I found that out the hard way. I recently consolidated 5 credit cards totaling almost $10,000. Before this, we basically signed over our check to all the credit card companies we owed. I was depressed and irritable all of the time. I had had enough so I made the decision before I could not pay them any more to get a loan from my bank and consolidate, close out, and destroy those cards. I am in a much better financial place now!
You definitely want to take care of those bills and pay them off before considering a home loan. Trust me, I bought a home and it cost me a fortune to clean up those bills before I could even think about asking for a home loan.
Good luck!
2006-08-18 20:01:48 · answer #2 · answered by bracygirl 2 · 0⤊ 0⤋
i used to be in credit card debt. not extremely high sum but it a hole that i didnt know what to do with. eventually i took a short term loan in order to payoff my card debt in rather soon i ll be off that as well.
credit cards are an easy way to spend without worrying too much about paying back. at least this is what add and most people think of. unfortunately, everything has a price. and credit cards price is a rather high one.
so, if you want to buy something usind your credit card think again. the main question that you should have in mind is when will i pay it back. if that takes more that half a year then think again and act accordingly.
we live in a society full of consumer product that are tempting. we must ask ourselves if we are able to pay back the loans we get in order to have those products. otherwise, we r lost!
2006-08-16 08:43:25 · answer #3 · answered by vivianne 1 · 1⤊ 0⤋
Yes, I am in debt plus I am in college now working on a Masters, even more debt. However, after I am finsihed with school I hope to build my business enough to where I can pay off all my debt and some.
2006-08-18 15:27:19 · answer #4 · answered by DeZigns By Monique 2 · 0⤊ 0⤋
Senorita,
I feel ya!
You WILL come out of it, this will not last the rest of your life. And better yet, since you went through this, you won't allow it to happen again.
Washington Mutual is offering 0% interest for a year on balance transfers, with a 3% fee. Chase's Temple University card offers the same.
Have a wonderful weekend!
2006-08-11 20:56:39 · answer #5 · answered by Anonymous · 1⤊ 0⤋
I am Debt Free and proud of it, took a lot of disipline and giving up on the instant gratification life, but now I got money in the bank and apprcciate it more. It is surpirsing how much you can put away with out a lot of bills. Live well below your means now and then you can have all you want later.!
2006-08-18 13:49:10 · answer #6 · answered by CrzyCowboy 4 · 1⤊ 0⤋
You really need to read Dave Ramsey's book The Total Money Makeover. It has a plan for life-long financial strategy, starting with killling the debt you have now.
www.daveramsey.com
2006-08-11 20:47:00 · answer #7 · answered by snvffy 7 · 1⤊ 0⤋
You should never spend more on your card than you can easily cover by your bank a/c.
It is not rocket science that paying some one interest reduces your standard of living. If you want something expensive, save for it first. It will be double the pleasure when you buy it.
2006-08-16 10:31:09 · answer #8 · answered by Anonymous · 1⤊ 0⤋
If I don't have cash then I don't buy. It is that simple. A mortgage or student loans are the only acceptable debt to me. My one and only credit card is for emergencies and internet purchases. Credit cards don't equal $.
2006-08-11 20:45:15 · answer #9 · answered by hounslow5601 2 · 1⤊ 0⤋
I was in debt a couple of times in my life
but i have since consolidated and Im good now,
700+ score
2006-08-11 20:45:53 · answer #10 · answered by futurehero5200 5 · 1⤊ 0⤋
I am out of debt at the moment I have been in debt but i have budgeted and dug my way out of it. Such a relief
2006-08-19 06:48:01 · answer #11 · answered by maddy 3 · 0⤊ 0⤋