This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends mee...
|
Is it just me or are alot of people
|
Watch this |
| View More Posts Ignore |
suffering from credit card debt? It seems to me, and I may be wrong, that it is so easy to acquire high limits on credit cards, but then the monthly payments are always so high. It also seems to me that some limits should be placed on the company's ability to charge such high interest rates. Otherwise, how are normal, everyday people like myself ever going to be able to repay credit card debt? It has to be a scheme to get people indebted knowing they're going to make alot of money on the interest.
In all honesty, I have used my credit cards at times to just tide myself over until payday. I live virtually strapped for cash all the time with every penny accounted for. I too think that credit cards are for the rich or those who are far more disciplined than myself. I hate to walk away from paying what I owe. I have in the past had no other option. Sometimes, circumstances control one's ability to repay. Sometimes, things happen in a person's life that they have absolutely no control over and they're left to pick up the pieces and do the best they can. And that's when creditors like credit card companies take the back burner where payment is concerned. There just seems to be something wrong with this system. There appear to be too many people riding this credit card rollercoaster. I wish I'd never ever gotten a credit card. I also wish I'd always been able to earn enough money to pay for the needs and necessities of my family. I could "wish" forever, but that isn't going to change the reality of the world where I live. You know, they say that most Americans are one paycheck away from poverty, homelessness, etc. That about sums it up in a nutshell. Yes, I realize there are others worse off than me, and yes, I am grateful for all the things I have, and yes, I feel sorry for others that don't have as much as I, but sometimes, I feel like as far as material things go, I don't have alot. I suppose I'm tiring of this never ending cycle of debt and repaying debt and budgeting the repayment of debt and throwing into the scenario of the little unexpected expenses, and how to make it to payday and then how far can I make that paycheck stretch. Then there's the off chance that someone might actually need to go to the dr. or need medicine or a new pair of shoes, or there's that field trip at school. Its something all the time. I'm sorry. I just needed to vent. Maybe it'd be different if I had someone close by to talk to. Unfortunately, I don't so I'm just unloading on you guys. Thanks for listening. Posted on 02/17/08, 04:02 pm |
| 19 Replies | Most Recent | Add Your Reply |
| View More Posts Ignore |
i agree completely! as soon as i was late one month on my cards (2 of them) my interest zoomed from 15 to 31%!!! of course my monthly paymt went to double and it just created that downward spiral...now i am in trouble, and feel guilty all the time...i sympathize w/you...i just have myself to be concerned w/but when my 4 kids were little, i wish i had been smarter w/$$$...janey 
|
|
|
|
||
| View More Posts Ignore |
i had multiple cards, was late by 2 days on one of them -- all the others exercised their unpublished privilege to raise my interest rate even tho i was current!
why doesn't the govt do something to help?
|
|
|
|
||
| View More Posts Ignore |
I think its about time people banded together and boycotted all credit card companies. And I don't think they should be allowed to put anything on our credit files. And I don't think they should be allowed to charge all these high interest rates. Its absurd! And I don't think anyone should feel guilty for being unable to repay these outragous payments because of high interest rates. If they'd let us repay only the amount of what was actually purchased, they'd probably have a lot less people walking away from repaying and leaving them holding the bag and having to write if off. I don't know why the gov't doesn't step in and do something. Even if they did, it'd probably not be enough and not soon enough. Its hard to believe there was a day, probably along time ago, when credit cards were non-existent. Personally, I think they should be regulated in some way.
I could rant and rave about this forever. I become so enraged when I think about it.
|
|
|
|
||
| View More Posts Ignore |
I know what your feeling...for several years I was virtually a prisoner in my own home because all of my income went towards the bills. I didn't have money to go out ANYWHERE so I would sit in my apartment and watch public television which I pulled in via antena because I couldn't even afford cable. I always felt like I was 1 step away from being homeless...a prospect that, quite frankly, always terrified me. I don't own much, but I am always grateful that I have a home, a comfortable bed, and running water. All the rest is just icing on the top of the cake to me.
|
|
|
|
||
| View More Posts Ignore |
I agree (and vented, too earlier, ha, ha!) These credit card companies are evil. I will never get another one.
|
|
|
|
||
| View More Posts Ignore |
I agree, and what is worse we had a job change and loss of money, I tried to call the companies and work with them, i was current on everything at the time, and it was all no can't do anything for you, then we entered a debt settlement company and stopped paying, and now it is all contact us, we know there are finincial troubles, we want to help you make your payment. Nice. A little to late. I was looking for a way to pay our debt, I didn't want to not pay what I owe, but no one would give us a loan to consilidate so I had to enter a debt settlement company, which is working for us so far, one is already paid off, but I feel like I did what I could to try and give them their money but they were not willing to work with me. Something needs to be done.
|
|
|
|
||
| View More Posts Ignore |
Oh wow, I feel the same way! We have had our share of problems this past year. I went into the hospital for 9 days early last spring and was told I would have to have surgery so I was out of work for 3 months. I had short term disability but it was only40% of what I actually made. Then came the doctor and hospital bills. I am very happy and fortunate that the surgery took care of my problem but it did put a huge burden on my husband and myself. Then my mom, whom we have been living with and helping take care of (she is in a power chair due to a stroke in 1999) developed alzheimers. Fortunately she could do most things for herself while I was sick but now she needs constant care. We had to hire someone in October to come in and help her while I work. She has applied for VA benefits but now they tell us it takes 6 to 8 months from filing to receive benefits!!! Meanwhile we are juggling her bills, our bills, those nasty credit cards just trying to keep the house! When will it ever end? Thanks for listening and sharing. I agree there needs to be some kind of control on the cc companies.
|
|
|
|
||
| View More Posts Ignore |
I wonder what we could do to express ourselves to someone who could actually do something about it - start a boycott? gee, these credit card companies have got to re-evaluate the way they operate, especially since the economy seems to be on the downswing.
|
|
|
|
||
| View More Posts Ignore |
I totally agree! My husband lost his job and we got in credit card debt. Some of our interest rates went as high as 29%... with interest rates that high.. there's nothing you can do! We had to file for bankruptcy. Now we are living pay check to paycheck! I hate it and you're right... you have every dollar accounted for until you have an expected bill like a field trip or dr. appt! I hate living this way!
|
|
|
|
||
| View More Posts Ignore |
I hate living this way too. If I didn't have these few credit cards to repay, I'd have some disposable income to pay for other things. I think credit card companies are masters at working the system they've been allowed to create. I wonder what its going to take to stop it. I'm pretty sure it can't continue this way. Too many people are finding themselves out of a job and a way to repay and I don't think filing for bankruptcy is always the answer.
|
|
|
|
||
| First | Previous | Page: 1 2 | Next | Most Recent | Add Your Reply |
I haven't been paying my credit cards for the past couple months and I am over my limits by hundreds. I just got a job …
hi- husband and i are considering going through a debt settlment prrogram. i wrote a post about this a bit earlier, …
I HAVE A HUGE ADDICTION. I HAVE A 3 YEAR OLD SON WHO I ADORE MORE THAN ANYTHING. I HAD A PRETTY HORRIFFIC CHILDHOOD. …
