I just had a very interesting phone conversation with a CC company customer specialist.

[roamer65]

The specialist said it is horrible right now and definitely getting MUCH worse very quickly as far as credit card delinquencies and defaults. Just by the tone of voice, her seriousness on the issue was definite and very sobering.

"Green shoots" my ass. These folks would know, as they work on the "front lines" daily.

[Liberal_in_LA]

1. scary times

[Hydra]

2. That shoe hasn't even dropped yet

I'm still managing to pay my bills on unemployment...barely. How are other people doing it? And what happens when ALL of them can't?

[CoffeeCat]

3. We are lied to by the MSM...

Some of it is huge lies. Some of it is statistic twisting. Some of it is just accentuating the positive
when negative numbers come out.

The fact is that the economy has been tanking consistently since last Fall. We are not "improving".

Look at the unemployment statistics! The economy is hemorrhaging 600,000 jobs monthly!

It's little bits of information like this, that reveal the truth.

You really have to look at the raw data and ignore the MSM, because they are selling us "green shoots" and
sunshine, while we continue to spiral.

[Tangerine LaBamba]

4. You're right -

get out thre and talk to people. Watch what's going on. Even here in the "recession-proof" Washington, DC area, I'm watching construction halt, businesses disappear, people lose jobs and homes, and food prices rising.

We aren't even close to the worst, that's my fear, and I'm not sure our country can be saved.....................................

[hedgehog]

5. I wonder if a lot of people are looking around and realizing there is

strength in numbers. At this point the credit card companies need us more than any one of us needs them since the managers dumped so much money into investments that went belly up. "You want me to pay this debt? Then drop the rate to something that is possible to pay!"

[CoffeeCat]

9. The credit card companies...

...held our "credit scores" over our heads for so long. Not only were people afraid to miss
a payment, they were afraid to quit using their cards.

The banks, the credit-card companies and the entire system convinced us that if he didn't have
a super FICO score, that we might as well be dead.

Now...people are just trying to survive. Who the hell cares about some number? People are worried
about whether or not they can feed their families, they're worried about whether or not they'll have
a job next week. So, they're preparing and they're perhaps realizing that FICO scores, their credit
line at Home Depot and all of those material possessions really mean a damn thing.

They just don't have the hold on us that they once did.

Many are defaulting or sending what they can.

[Pacifist Patriot]

10. Posted about this last week.

They are definitely NOT at that point. I tried and met stone wall after stone wall. They couldn't care less. I'm wondering if government bail out funds are easier and more profitable than a smaller margin on our debt.

[hedgehog]

11. I'm sure the banks want their money - our credit card payments are the only

sure thing left with business down and all the people forced to default on home mortgages on buildings worth a fraction of what they were going for two years ago. We lost a good chunk of wage income because the banks screwed the pooch on the economy. My feeling is that I'll pay the bills that I can when I can. Too many people are in my position and worse for the banks to target me right now.

[dixiegrrrrl]

6. 16.4% unemployment in our county, paper says today.

24%in one of the poorest counties to the west of us.

And of course that is "official" figures, which we know are way below reality.

[hedgehog]

7. I don't wish hard times on anyone, but are times really any harder these days in the Midwest

and North east than they've been for the last 30 years? Detroit aside, I don't think things have gotten any worse. In some sense things are actually better since the real estate bubbles that made the economies look good in the West, south-west and the south have popped. Now that everyone can see what's really going on, maybe some changes will be made.

[Devil_Fish]

8. I concider my self lucky. I had 3 credit cards that were maxed out a year ago.

I finally managed to pay off all three and cancel two of them. I keep the third one with 0 ballance just in case. as I said, I am lucky. I wish every one the same luck.