| 163. Worked w/a guy who stopped paying most of them off - said it would be off his credit report in 7 yrs |
|
He said that it wouldn't show up on his credit reports after that and that he would be able to slowly build his credit back up. Since I haven't seen him in years I don't know if he was full of it or not.
He did have a couple of newer cards that he WAS making payments on.
He kept on advising me to do the same thing but I've just been paying them off a little bit at a time.
|
| -Who is at this point saying 'Fuck it' to the credit card bills |
HawkeyeX |
Aug-07-07 12:48 AM |
#0 |
 -
I'm gonna go on a "debt management" program |
villager |
Aug-07-07 12:50 AM |
#1 |
 -
The best way to carry out this "generational project"... |
regnaD kciN |
Aug-07-07 01:00 AM |
#6 |
| -
I think that should absolutely be the law. Bravo! |
GOTV |
Aug-07-07 09:02 AM |
#44 |
| -
Genius!!! nt |
IdaBriggs |
Aug-07-07 11:05 AM |
#90 |
 -
Interest rates first hit 20% during the "stagflation" era of the late 1970s and |
Lydia Leftcoast |
Aug-07-07 12:48 PM |
#123 |
| -
I've heard that |
TransitJohn |
Aug-07-07 08:21 AM |
#34 |
| -
I've heard it knocks your credit just like a BK. n/t |
Wcross |
Aug-07-07 09:36 AM |
#52 |
| -
It's not as bad as having a bankruptcy on your record |
rox63 |
Aug-07-07 10:44 AM |
#83 |
| -
Thanks! |
villager |
Aug-07-07 02:48 PM |
#143 |
| -
Yep, credit unions are your best bet |
tbyg52 |
Aug-08-07 07:36 AM |
#193 |
| -
Not my experience... |
4_TN_TITANS |
Aug-07-07 12:26 PM |
#115 |
| -
There might be good debt mgmt companies and some bad.... |
kerry-is-my-prez |
Aug-07-07 04:45 PM |
#160 |
| -
It affects your credit til you pay them off |
George Oilwellian |
Aug-07-07 10:56 AM |
#86 |
| -
It affects your rating a little, but the benefits outweigh the drop |
katamaran |
Aug-07-07 11:59 AM |
#110 |
| -
We worked our butts off to pay off our cc debt... |
youthere |
Aug-11-07 12:28 PM |
#195 |
| -
It's not easy, but if you can pay off your balance, do so entirely |
Selatius |
Aug-07-07 12:51 AM |
#2 |
| -
Yep, live below your means. That is my mindset. |
CTyankee |
Aug-07-07 12:59 PM |
#130 |
| -
If you never want to pay credit card interest, just follow this poster's advice. |
Seabiscuit |
Aug-11-07 12:25 PM |
#194 |
| -
down to three |
fortyfeetunder |
Aug-07-07 12:52 AM |
#3 |
| -
We paid it all off ( even the house) 3 years ago , |
rwheeler31 |
Aug-07-07 12:57 AM |
#4 |
| -
All those who may feel like bragging... |
regnaD kciN |
Aug-07-07 01:03 AM |
#7 |
| -
Yes, never let a good story go unpunished. |
seriousstan |
Aug-07-07 01:10 AM |
#12 |
| -
Not a matter of letting anything "go unpunished"... |
regnaD kciN |
Aug-07-07 03:20 AM |
#26 |
| -
I'm with you, regnaD |
goodgd_yall |
Aug-07-07 03:33 AM |
#29 |
| -
No debt , and earning income, a problem? |
rwheeler31 |
Aug-07-07 01:14 AM |
#13 |
| -
If It Comes To That, Better if You Have Your Whole Credit Line Available |
AndyTiedye |
Aug-07-07 01:35 AM |
#15 |
| -
Yep, I have to say |
goodgd_yall |
Aug-07-07 03:19 AM |
#25 |
| -
Of course, there are extraordinary circumstances, but that doesn't mean you shouldn't aim |
CTyankee |
Aug-07-07 01:04 PM |
#131 |
| -
nobody should ever have to make a choice like that. |
rucky |
Aug-07-07 11:19 PM |
#189 |
| -
We did exactly the same thing at about the same time |
ThomWV |
Aug-07-07 07:43 AM |
#32 |
| -
Yep, that's about the only finger you can stick in the dike right now..n/t |
Virginia Dare |
Aug-07-07 09:55 AM |
#62 |
| -
You are missing out... |
Xenotime |
Aug-07-07 08:40 AM |
#37 |
| -
Tax breaks? I've never heard of any tax breaks from having CC debt. n/t |
LibInTexas |
Aug-07-07 08:43 AM |
#38 |
| -
It was a deduction up until around the mid 90's. No shit, you could deduct CC interest paid. |
ThomWV |
Aug-07-07 09:45 AM |
#56 |
| -
I've paid the full balance every month for decades. Never had trouble buying a car. n/t |
GOTV |
Aug-07-07 09:04 AM |
#46 |
| -
I'm guessing you're not a CPA. |
Balbus |
Aug-07-07 09:19 AM |
#49 |
| -
Is that old myth still floating around? Don't believe yourself. n/t |
Dora |
Aug-07-07 09:50 AM |
#58 |
| -
I never pay interest rates except on my mortgage. My credit is sterling and since |
CTyankee |
Aug-07-07 12:51 PM |
#126 |
| -
You must be in a time warp: the deduction on consumer interest was phased |
Lydia Leftcoast |
Aug-07-07 12:51 PM |
#127 |
| -
I will never cease to be amazed.. |
sendero |
Aug-07-07 09:19 PM |
#185 |
| -
I got my first credit card in college, circa 1998 |
NickB79 |
Aug-07-07 07:49 PM |
#179 |
| -
Congratulations |
qanda |
Aug-07-07 10:22 AM |
#73 |
| -
... |
rucky |
Aug-07-07 11:18 PM |
#188 |
| -
i haven't used them in a couple months. i'm fucking sick of paying out of |
orleans |
Aug-07-07 12:59 AM |
#5 |
| -
I'm Paying $20,000 Off Tomorrow |
ribofunk |
Aug-07-07 01:04 AM |
#8 |
| -
We use them |
nadinbrzezinski |
Aug-07-07 01:04 AM |
#9 |
| -
That's the only way to go .. |
Hieronymus |
Aug-07-07 01:35 AM |
#16 |
| -
Agreed |
Sherman A1 |
Aug-07-07 02:54 AM |
#21 |
| -
Hopefully, your card(s) won't institute special monthly charges for those with zero balance... |
regnaD kciN |
Aug-07-07 03:25 AM |
#27 |
| -
Yes, I've heard of this trend |
goodgd_yall |
Aug-07-07 03:31 AM |
#28 |
| -
Credit unions seem to like us, though. |
Tesha |
Aug-07-07 06:54 AM |
#30 |
| -
That's a card I'll cancel. If they all to that. I'll find other ways around it, or carry $1.00 n/t |
GOTV |
Aug-07-07 09:06 AM |
#47 |
| -
That's the beauty of having a good credit rating -- one can always find a better deal. |
Gormy Cuss |
Aug-07-07 10:46 AM |
#84 |
| -
The card, and i mean THE card |
nadinbrzezinski |
Aug-07-07 11:00 AM |
#88 |
| -
They haven't done that to me...yet |
wryter2000 |
Aug-07-07 03:03 PM |
#146 |
| -
But That's All Disclosed In The Agreement. It's Pretty Easy To Avoid Such Cards. |
OPERATIONMINDCRIME |
Aug-07-07 04:29 PM |
#156 |
| -
We're the same nt |
JerseygirlCT |
Aug-07-07 09:41 AM |
#54 |
| -
We are considered deadbeats here also... |
Contrary1 |
Aug-07-07 10:23 AM |
#74 |
| -
Yup. That's The Exact Way To Be. |
OPERATIONMINDCRIME |
Aug-07-07 04:28 PM |
#155 |
| -
I put the kid's college tuition on it |
REACTIVATED IN CT |
Aug-07-07 09:12 PM |
#184 |
| -
I've never had a credit card, and don't plan to ever get one. |
Webster Green |
Aug-07-07 01:06 AM |
#10 |
| -
I gor rid of mine back in the 90's and haven't missed them one bit. |
mrcheerful |
Aug-07-07 01:09 AM |
#11 |
| -
How do you buy stuff online? |
GOTV |
Aug-07-07 09:34 AM |
#51 |
| -
You can use a debit card online. n/t |
Wcross |
Aug-07-07 09:38 AM |
#53 |
| -
Oh I see. But there are different issues there.... |
GOTV |
Aug-07-07 09:45 AM |
#57 |
| -
You could set up separate accounts. |
Wcross |
Aug-07-07 09:55 AM |
#63 |
| -
Pre-paid debit cards |
kineneb |
Aug-07-07 10:30 AM |
#76 |
| -
Thats another good idea. n/t |
Wcross |
Aug-07-07 11:02 AM |
#89 |
| -
Who offers them? |
GOTV |
Aug-07-07 11:16 AM |
#94 |
| -
You can get one at Wells Fargo |
missb |
Aug-07-07 12:45 PM |
#121 |
| -
chain stores, groceries |
kineneb |
Aug-07-07 08:29 PM |
#180 |
| -
I don't buy "stuff" on line. If its something I need I go out to the store |
mrcheerful |
Aug-07-07 02:09 PM |
#137 |
| -
I do quite a bit at Christmas time.. |
Virginia Dare |
Aug-07-07 02:33 PM |
#141 |
| -
I don't believe in Christmas shopping. The people I buy for, My SO and the kid |
mrcheerful |
Aug-07-07 03:13 PM |
#147 |
| -
Plus if theirs some electronic device you want that stores dont have |
CRF450 |
Aug-07-07 05:36 PM |
#170 |
| -
nice, if you have any stores nearby |
kineneb |
Aug-07-07 08:33 PM |
#181 |
| -
Pay Them In Full Each Month |
AndyTiedye |
Aug-07-07 01:29 AM |
#14 |
| -
My case too. |
Hardrada |
Aug-07-07 01:53 AM |
#20 |
| -
Pay every month before the deadline, even though that inspires the userers to-- |
eridani |
Aug-07-07 01:36 AM |
#17 |
| -
be careful. if you need to, file for bankruptcy. if you are deep in debt, you |
SoCalDem |
Aug-07-07 01:43 AM |
#18 |
| -
I just filed a Chapter 13 a few months ago. |
RebelOne |
Aug-07-07 08:32 AM |
#35 |
| -
I have to agree with some of the others on here... |
adsosletter |
Aug-07-07 01:44 AM |
#19 |
| -
oh...i am ALL OVER that idea! |
Blue_Tires |
Aug-07-07 03:08 AM |
#22 |
| -
Levin and McCaskill legislation Stop the Unfair Credit Card Practices Act |
goodgd_yall |
Aug-07-07 03:10 AM |
#23 |
| -
If and when you do get rid of the debt |
goodgd_yall |
Aug-07-07 03:14 AM |
#24 |
| -
My dad raised me saying, if you can't afford it, you don't need it! |
B Calm |
Aug-07-07 07:01 AM |
#31 |
| -
mine did too- and he lived it, but |
Bluerthanblue |
Aug-07-07 10:22 AM |
#72 |
| -
Yes, I was debt-free for a while, and then I needed emergency car repairs |
Lydia Leftcoast |
Aug-07-07 12:56 PM |
#129 |
| -
It's nice to be above the poverty line, innit? -nt |
Commie Pinko Dirtbag |
Aug-07-07 10:42 AM |
#81 |
| -
so if you can't afford shoes for your kid, |
Bill McBlueState |
Aug-07-07 11:37 AM |
#105 |
| -
If you can't afford 12 bucks for shoes.... |
Wcross |
Aug-07-07 12:52 PM |
#128 |
| -
yep |
Bill McBlueState |
Aug-07-07 09:10 PM |
#183 |
| -
If you can't afford a pair of damn shoes and have to charge them |
B Calm |
Aug-07-07 03:26 PM |
#150 |
| -
nobody said anything about charging shoes on a credit card |
Bill McBlueState |
Aug-07-07 09:08 PM |
#182 |
| -
College loans are worse |
OzarkDem |
Aug-07-07 07:45 AM |
#33 |
| -
What a timely post. We just paid off all the cards this morning, and now have 0 credit card debt. |
LibInTexas |
Aug-07-07 08:34 AM |
#36 |
| -
What "usurpy" rates? |
Squatch |
Aug-07-07 08:46 AM |
#39 |
| -
Same here and since inflation... |
roamer65 |
Aug-07-07 09:51 AM |
#59 |
| -
I hope it stays that way for you. |
Blue_In_AK |
Aug-07-07 04:29 PM |
#157 |
| -
I never run a balance. They don't make a penny off me. n/t. |
jazzjunkysue |
Aug-07-07 08:47 AM |
#40 |
| -
Alas, no credit cards means no credit rating |
TechBear_Seattle |
Aug-07-07 08:49 AM |
#41 |
| -
I think the idea is to get to a position where you have some credit cards, use them sparingly, and |
LibInTexas |
Aug-07-07 09:02 AM |
#45 |
| -
Having credit, and not using it, lowers your credit score |
TechBear_Seattle |
Aug-07-07 09:09 AM |
#48 |
| -
I run in that sweet spot and it repaired my credit real fast. |
roamer65 |
Aug-07-07 09:32 AM |
#50 |
| -
Not using the credit doesn't automatically lower the score. |
Gormy Cuss |
Aug-07-07 11:10 AM |
#93 |
| -
Not necessarily. |
Wcross |
Aug-07-07 09:42 AM |
#55 |
| -
That's simply not true. I've bought 3 houses and several cars over the past 30 |
scarletwoman |
Aug-07-07 05:32 PM |
#168 |
| -
Apparently very few understood your OP |
Artiechoke |
Aug-07-07 08:56 AM |
#42 |
| -
Indeed |
goodgd_yall |
Aug-07-07 09:58 AM |
#65 |
| -
No one should feel like a "schmuck"... |
Contrary1 |
Aug-07-07 10:40 AM |
#80 |
| -
Most people I know who are in CC trouble are not schmucks but neither did suffer some emergency |
GOTV |
Aug-07-07 11:25 AM |
#97 |
| -
The point is |
goodgd_yall |
Aug-07-07 12:22 PM |
#113 |
| -
Yeah... there's always a high level of SMUG on these CC/debt threads n/t |
kgfnally |
Aug-07-07 10:09 AM |
#67 |
| -
I think it's viewed a little like smoking |
GOTV |
Aug-07-07 11:41 AM |
#106 |
| -
Somebody misunderstood. |
Wcross |
Aug-07-07 10:42 AM |
#82 |
| -
Smugness is not what the subject was addressing. |
Artiechoke |
Aug-07-07 11:26 AM |
#98 |
| -
The OP is NOT refusing to pay off debt. |
Wcross |
Aug-07-07 11:34 AM |
#102 |
| -
I'm not refusing to pay off the debt. |
HawkeyeX |
Aug-07-07 04:22 PM |
#151 |
| -
I was just disputing what Artiechoke posted. |
Wcross |
Aug-07-07 05:35 PM |
#169 |
| -
I said it decades ago and I've paid off my balance every month since.... |
GOTV |
Aug-07-07 09:01 AM |
#43 |
| -
Me too, the only debt I carry is a mortgage, and even that's about to change.. |
Virginia Dare |
Aug-07-07 09:52 AM |
#60 |
| -
I don't know what to do about the mortgage but rest is gone |
GOTV |
Aug-07-07 11:50 AM |
#108 |
| -
It also helps to develop a budget and put down everything you buy. |
CTyankee |
Aug-07-07 01:21 PM |
#133 |
| -
Our consumer debt will eventually destroy us.. |
Virginia Dare |
Aug-07-07 09:53 AM |
#61 |
| -
Got rid of my credit cards |
supernova |
Aug-07-07 09:57 AM |
#64 |
| -
I occasionally DO take their credit card but only if I get something in return. |
CTyankee |
Aug-07-07 01:37 PM |
#134 |
| -
I bought my big screen TV that way- 0% for a year. |
Wcross |
Aug-07-07 05:42 PM |
#171 |
| -
Hey, I did the same thing with our new TV! |
CTyankee |
Aug-07-07 06:46 PM |
#177 |
| -
I've been upset for some time with the near carte blanche |
Cleita |
Aug-07-07 10:00 AM |
#66 |
| -
There is legislation in the works |
goodgd_yall |
Aug-07-07 10:13 AM |
#68 |
| -
Thank God! It's about time. |
Cleita |
Aug-07-07 11:21 AM |
#95 |
| -
I have a card that offers a credit limit that is $5000 less than what I make in a year. |
CrispyQGirl |
Aug-07-07 03:24 PM |
#149 |
| -
Credit card companies love to offer credit limits beyond reasonable |
goodgd_yall |
Aug-07-07 04:55 PM |
#161 |
| -
I am credit card free after many years of hard work |
WakeMeUp |
Aug-07-07 10:15 AM |
#69 |
| -
I'm saying fuck it to ever using credit cards again |
Scriptor Ignotus |
Aug-07-07 10:17 AM |
#70 |
| -
Vote Biden!! |
ToeBot |
Aug-07-07 10:20 AM |
#71 |
| -
Ch. 7: no more credit cards, ever. |
kineneb |
Aug-07-07 10:28 AM |
#75 |
| -
No one has mentioned Dave Ramsey yet? |
brystheguy |
Aug-07-07 10:35 AM |
#77 |
| -
I listen to his show when I can. |
Wcross |
Aug-07-07 10:59 AM |
#87 |
| -
Clark Howard is good to |
supernova |
Aug-07-07 11:37 AM |
#104 |
| -
He's got a podcast on iTunes too |
Lorien |
Aug-07-07 12:48 PM |
#124 |
| -
I am working to become debt free. |
Wcross |
Aug-07-07 10:36 AM |
#78 |
| -
What's in your wallet? |
cat_girl25 |
Aug-07-07 10:39 AM |
#79 |
| -
What about the "universal default rate" |
Wcross |
Aug-07-07 10:49 AM |
#85 |
| -
To jog your memory re Capital One ... |
Tracer |
Aug-07-07 02:00 PM |
#136 |
| -
At 22, I only have one credit card, and ... |
Akoto |
Aug-07-07 11:05 AM |
#91 |
| -
We've been debit only for about two years now. |
smoogatz |
Aug-07-07 11:10 AM |
#92 |
| -
Some of you talk as though |
OwnedByFerrets |
Aug-07-07 11:22 AM |
#96 |
| -
Thank you for addressing the OP. |
Artiechoke |
Aug-07-07 11:28 AM |
#99 |
| -
Funny thing about credit counseling - I *want* to get in it |
HawkeyeX |
Aug-07-07 04:24 PM |
#152 |
| -
I am sure there are plenty of people in your situation. |
Wcross |
Aug-07-07 11:31 AM |
#100 |
| -
Do you have a good idea of how much you are spending and on what? |
CTyankee |
Aug-07-07 01:52 PM |
#135 |
| -
I lucked out (sort of) by messing up my credit early |
dmesg |
Aug-07-07 11:33 AM |
#101 |
| -
Build Up Your Credit Rating?! BALONEY!!! |
Yavin4 |
Aug-07-07 11:35 AM |
#103 |
| -
Best post ! |
spooked |
Aug-07-07 12:17 PM |
#112 |
| -
We've sold our souls to the banking and mortgage industries.. |
Virginia Dare |
Aug-07-07 12:32 PM |
#118 |
| -
Only if your over 50 is it scary. Most of those under 50 always believe that it won't happen to them |
mrcheerful |
Aug-07-07 02:21 PM |
#138 |
| -
Good for bad government |
goodgd_yall |
Aug-07-07 12:36 PM |
#119 |
| -
Then, We Wonder Why People Don't Protest |
Yavin4 |
Aug-07-07 01:05 PM |
#132 |
| -
Amen n/t |
Lorien |
Aug-07-07 12:51 PM |
#125 |
| -
true that! |
Duppers |
Aug-07-07 03:18 PM |
#148 |
| -
I cringe when I hear people say the "payed off" debt w/heloc. |
Wcross |
Aug-07-07 11:43 AM |
#107 |
| -
It's usually a lower interest rate and tax deductable |
GOTV |
Aug-07-07 11:54 AM |
#109 |
| -
Yes! |
supernova |
Aug-07-07 12:04 PM |
#111 |
| -
Yep that also bugs me.. and MANY people just run up new charges |
SoCalDem |
Aug-07-07 02:24 PM |
#140 |
| -
And, They Put Their Home In Jeopardy |
Yavin4 |
Aug-07-07 11:14 PM |
#187 |
| -
Me! Me! |
ceile |
Aug-07-07 12:22 PM |
#114 |
| -
Just paid off my car, consolidated the three cards into one, and am now paying about 400 a month |
LittleClarkie |
Aug-07-07 12:29 PM |
#116 |
| -
I have to have a credit card for business... |
XOKCowboy |
Aug-07-07 12:30 PM |
#117 |
| -
Cancelling credit cards---snail mail is best |
goodgd_yall |
Aug-07-07 12:41 PM |
#120 |
| -
I'm a lender with Prosper.com |
trekbiker |
Aug-07-07 12:46 PM |
#122 |
| -
39 Years old here... |
Banned_Wagon |
Aug-07-07 02:39 PM |
#142 |
| -
Have you ever tried to book a hotel room or an airline ticket, or reserve a rental car with cash? |
NNN0LHI |
Aug-07-07 04:59 PM |
#162 |
| -
I believe you can do it with a debit card |
B Calm |
Aug-07-07 05:18 PM |
#164 |
| -
That hasn't been quite nailed down according to this |
NNN0LHI |
Aug-07-07 06:02 PM |
#176 |
| -
Debit card or Prepaid Mastercard |
Banned_Wagon |
Aug-07-07 05:19 PM |
#165 |
| -
I'm looking into it. |
HawkeyeX |
Aug-07-07 04:32 PM |
#158 |
| -
Yes, Prosper bills monthly |
trekbiker |
Aug-07-07 06:54 PM |
#178 |
| -
I just did. Last one paid in full. :) Its heavenly. I wish it for everyone else too. |
roguevalley |
Aug-07-07 02:23 PM |
#139 |
| -
Pretty much already there |
wryter2000 |
Aug-07-07 02:54 PM |
#144 |
| -
Tear up all credit cards |
malaise |
Aug-07-07 02:54 PM |
#145 |
| -
They Don't Bother Me At All. I Only Charge What I Can AFFORD And Pay It Off Each Month. |
OPERATIONMINDCRIME |
Aug-07-07 04:25 PM |
#153 |
| -
My husband just cancelled his Chase MasterCard |
Blue_In_AK |
Aug-07-07 04:26 PM |
#154 |
| -
Great! |
KAT119 |
Aug-07-07 04:41 PM |
#159 |
| -
Worked w/a guy who stopped paying most of them off - said it would be off his credit report in 7 yrs |
kerry-is-my-prez |
Aug-07-07 05:02 PM |
#163 |
| -
I have two debts I'm paying off so far |
CRF450 |
Aug-07-07 05:20 PM |
#166 |
| -
I don't have to say "bye" because I never said "hello". |
scarletwoman |
Aug-07-07 05:26 PM |
#167 |
| -
Someone at yahoo must have read your post. |
lonestarnot |
Aug-07-07 05:44 PM |
#172 |
| -
0% for life? Where do you hook that up? |
Kazak |
Aug-07-07 05:47 PM |
#173 |
| -
I don't have any credit cards |
tammywammy |
Aug-07-07 05:54 PM |
#174 |
| -
Why don't we teach basic finance in high school? |
Wcross |
Aug-07-07 06:01 PM |
#175 |
| -
I got off the credit card merry go round many years ago by |
REACTIVATED IN CT |
Aug-07-07 09:39 PM |
#186 |
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hELL Yeah! I'm ripping up my next credit card bill! |
rucky |
Aug-07-07 11:23 PM |
#190 |
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It's sad.... |
sofa king |
Aug-07-07 11:43 PM |
#191 |
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I've had no credit card debt for about ten years. It's a pain |
sfexpat2000 |
Aug-07-07 11:47 PM |
#192 |
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another kick |
Blue_Tires |
Aug-11-07 12:31 PM |
#196 |
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