Credit-card delinquencies hit record - Good read I thought.

[AJ]

http://money.cnn.com/2005/09/28/pf/debt/delinquencies/index.htm?cnn=yes

I gotta say for a lot of people alreayd living paycheck to paycheck that's exactly true. And I don't know where they get this average as last I checked we drop at least $60 a month into the tank on our little Prizim.

[Outlaw1]

After reading that article I can understand why some people are having problems paying their bills. It takes about $60 to fill up my F150 Supercrew and I only get 320-350 miles out of a tank.

[CDeutsch]

What a bunch of dip shits. They didn't even mention anything about the bankruptcy law that takes affect Oct 17. The number of bankruptcies in the last few months has sky rocketed. And what do you do when you plan on filing for bankruptcy? You stop paying your debt.

You really have to wonder what kind of agenda a site like that has. I scanned some of their tips on getting out of debt and not one mentions bankruptcy. Apparantly they want to make sure you pay that 20% interest until you debt is clean or your dead (and then they'll probably go after your family). I guess they don't want to report the real problem of how out of control credit is in this country.

Credit can be such a scam. People need to be more careful about it because the government is making it harder to get out of it for those that are way over their head. Big chains like Marshall Fields are obsessed with it. I know people that work their, and even if they sold $10,000 in merchandise their managers wouldn't give a shit. They only care about how many credit cards their employees open because that's where the real money is. They even force their employees to use their credit cards to take advantage of store discounts in the hope you'll pay them back 10 fold in interest. It makes me sick. Don't ever open a store credit card.

[Outlaw1]

Credit can be such a scam. People need to be more careful about it because the government is making it harder to get out of it for those that are way over their head. Big chains like Marshall Fields are obsessed with it. I know people that work their, and even if they sold $10,000 in merchandise their managers wouldn't give a shit. They only care about how many credit cards their employees open because that's where the real money is. They even force their employees to use their credit cards to take advantage of store discounts in the hope you'll pay them back 10 fold in interest. It makes me sick. Don't ever open a store credit card.
It's hard to buy everything with cash, that's what I try to do though. Interest is just money thrown away. What blows me away is interest paid on home loans. Shocking.

[LaunchHard]

I totally agree with you on all that. And when they mentioned other companies can give you a penalty on your card from paying a seperate card late even if your payments are current, thats total bull-shit

[CDeutsch]

I'm as bad as anyone with pissing money away on interest (the last two years I bought my winter cars using a CC and the second mortgage on my home has a minimum payment that's interest only), but I'm trying to put an end to that.

I don't mean to overshadow the screw job on gas prices, but that bankruptcy law couldn't come at a worse time with the huricanes, war, gas prices etc. It'd be nice if the govenment could start helping people help themselves instead of waiting for them to have nothing and then trying to support them. But they're too busy helping the rich get richer.

[Outlaw1]

I don't mean to overshadow the screw job on gas prices, but that bankruptcy law couldn't come at a worse time with the huricanes, war, gas prices etc. It'd be nice if the govenment could start helping people help themselves instead of waiting for them to have nothing and then trying to support them. But they're too busy helping the rich get richer.
You are correct, that's a huge problem. We have the resources, just not the ambition to establish programs to help the people who are really in need. Hell, even some of the people in need don't have the ambition it takes to get back on their own two feet.
And as far as gas prices, what's the use in going into a POS country and blowing it to hell if we can't even get some cheap fuel out of it? :D

[Halon]

Ya, let's sit here and point out every flaw in our government because that makes us winners! Or maybe you should just learn to budget and not count on the government to bail you out of everything. Take control of your own life and quit depending on outside help for every little thing. I spend an extra maybe $20 a month on gas due to the increase. I don't think that is going to make me deliquint on payments.

[CDeutsch]

So you're prepared to take care of yourself if we get wiped out like New Orleans?

For the most part I agree with the "take care of yourself" principal, but when 1/3 of my income goes to "not helping myself" I'd expect that to go to good use. When it's being used inappropriately I'm going to bitch.

[Halon]

No one can be fully prepared for that. But I won't sit and insist that the government owes me something because of it. I'm sure I'll get relief from Red Cross type stuff, but I won't expect the government to make sure I get the same life back that I had before. I'll take the help I can get, but for the most part take responsibility for my own life and work hard to get back what I can.

I also don't carry a huge debt(my only debt consists of $200 I owe on my VISA). I budget my money, and keep myself out of debt, and have money in savings as backup. If I have $5000 for a car, I buy a car for $5000, I don't put a $5000 downpayment on a 20k car and be 15k in debt so when a storm comes and wipes it out, I have this huge debt to worry about. That's how I live because it just makes sense to me.