Credit problems not just users' addic...

Credit problems not just users' addiction

There are 18 comments on the South Florida Sun-Sentinel story from Mar 12, 2007, titled Credit problems not just users' addiction. In it, South Florida Sun-Sentinel reports that:

When you watch Janne O'Donnell and Trisha Johnson talk, you almost vow on the spot to never use a credit card again.

Join the discussion below, or Read more at South Florida Sun-Sentinel.

Note

Austin, TX

#1 Mar 16, 2007
Handling debt is easy if you can pay for it. Problem is, most people today can't even make ends meet.

For them, debt is their Mother's Little Financial Helper. It replaces what used to be called a slush fund. Twenty years ago, the wife worked and her money was the slush fund. Then in the '90s the slush fund became the fun fund. Now, with record high taxes and health care, flat wages and sporadic employment the slush fund is the supplemental fund.

When that runs out, thankfully the world still takes Visa.

Priceless...
oh please

Miami, FL

#2 Mar 16, 2007
This story reminds me of the fat people who sue McDonalds. Take a little personal responsibility people.

I got my first cc freshman year in college. Used it to buy a lot of crap I didn't need to keep up with my friends who had parents to foot their bills (I put myself through school with the help of scholarships, student loans and grants). By the time I graduated, I had about 12 credit cards,$5000 in cc debt (which was huge to me at the time), and was about 3 months behind on most of them. However, I had met my now husband by then, who was very financially responsible, and he whipped my a** into shape and I paid it all off (plus $20k in student loans and a $2k car loan) in 4 years. I went without a lot of stuff to do it. I haven't paid a penny of cc interest since 2000. We don't make a lot of money. We live below our means, save lots, and enjoy a stress free, happy financial life.

People think they deserve a lot more than they actually do. And I'm not just talking about the insecure middle class who think they have to drive a Lexus to fit in at work. A lot of "working class" people I know who are in debt have a bunch of crap they don't need like cell phones, cable tv, fast food dinners, name brand clothes, etc.

If you paid off your cc's each month in full on time, it wouldn't matter what the cc companies charged. Stop blaming other people and get your life together.
DRS

Miami, FL

#3 Mar 17, 2007
BULL S..T....Credit card companies put charges on after you make a Payment,They say then your overdrawn...There Thieves,Liars,TYPICAL AMERICAN BUSINESSES............
oh please

Miami, FL

#4 Mar 17, 2007
Does DRS stand for debt-ridden sucker?
KitKat

United States

#5 Mar 17, 2007
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.

Any comments.
Sorry but

Fort Lauderdale, FL

#6 Mar 17, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
I wouldn't know where to begin.
UNC

United States

#7 Mar 17, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
Likely Foreclosure, Bankruptcy, Liquidation
OmiGod

East Berlin, CT

#8 Mar 17, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
They are no worse off than anyone who bought a house in South Florida last year. But that's still pretty bad. Can you say "upside-down?"
Pedro

New Milford, CT

#9 Mar 18, 2007
Credit is like alcohol: if you can't handle it, stay away from it. Don't blame a bank because you weren't listening in math class.
Carl

Miami Beach, FL

#10 Mar 18, 2007
In 2005, with little public debate, the Republican US Congress, passed, and the President passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005...this was the culmination of over 10 yrs of up and down lobbying by the credit card lobby, and almost gutted the Florida homestead bankruptcy protections, since federal law trumps state law. What did result was that now, most bankruptcies by consumers now require the garnishment of your wages to pay credit debt, debt foisted and encouraged by credit card companies. A virtual debtors prison has been instituted in the US now, with the prison being where you live and work, with this debt often the result of medical emergencies. You must now live in your FL or Texas homestead 40 months before the home is protected from creditors from credit card companies, which is better than the complete removal of homestead protections that the credit card companies had asked for. This was particularly despicable, since the President comes from Texas which has homestead protections like FLorida does, and the President should have known better; his father is employed as a consultant by Capital One for hundreds of thousands of dollars a year--they know where their bread is buttered. The average citizen be damned.
Forum Junkie

United States

#11 Mar 18, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
You're saying they've pulled out $200,000 in cash since 2002? Hopefully they've invested it and are not using it to survive, pay the mortgage, taxes and insurance. If so, they are on a rapid descent into bankruptcy and foreclosure. If one of them loses their job, if they both work, they will go down instantly.
Junebug

United States

#12 Mar 18, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
They are on the highway to helll speeding like idiots and will hit a very hard brick wall.
Holla

United States

#14 Mar 18, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
Sounds like they have more house than they can really afford. I'll bet their friends think they are rich! They must really be puttin on the ritz.
KitKat

United States

#15 Mar 18, 2007
Forum Junkie wrote:
<quoted text>
You're saying they've pulled out $200,000 in cash since 2002? Hopefully they've invested it and are not using it to survive, pay the mortgage, taxes and insurance. If so, they are on a rapid descent into bankruptcy and foreclosure. If one of them loses their job, if they both work, they will go down instantly.
And they have not invested a dime or bought other properties. They are SPENDING this money!!! And they have 3 kids.

Once they start going down the tube I am afraid it will be divorce and both of them blaming each other.
UNC

United States

#16 Mar 18, 2007
KitKat wrote:
<quoted text>
And they have not invested a dime or bought other properties. They are SPENDING this money!!! And they have 3 kids.
Once they start going down the tube I am afraid it will be divorce and both of them blaming each other.
No question. Sad for the kids. Others should learn from these mistakes.
D3V0N

United States

#17 Mar 18, 2007
KitKat wrote:
My sister and her husband have refinanced their home every year since they bought it in 2002. Their 06 refi is double than the original mortgage on the house of $200,000. They are in their early forties.
Any comments.
Hope they win the lottery. Sounds like they're going to need it.
Hmmmm

United States

#18 Mar 18, 2007
KitKat wrote:
<quoted text>
And they have not invested a dime or bought other properties. They are SPENDING this money!!! And they have 3 kids.
Once they start going down the tube I am afraid it will be divorce and both of them blaming each other.
Sounds like they don't know squat about money or even care. Maybe they keep consolidating debt on credit cards. One day they won't be able to refi because they've maxed out on the value of their home.
Then they'll be in deep doodoo. They probably will be anyway but they really will then.

This is no way to manage your money. I feel sorry for them.
Nil

London, UK

#20 Mar 26, 2014
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