She got out of debt, so it's time to ...

She got out of debt, so it's time to party

There are 55 comments on the TwinCities.com story from May 16, 2009, titled She got out of debt, so it's time to party. In it, TwinCities.com reports that:

This text is replaced by the Flash movie. The beer was intentionally cheap, and the most talked-about hostess gift at Stephanie Nero's party on Friday was a Suze Orman personal-finance book.

Join the discussion below, or Read more at TwinCities.com.

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Isthatright

Saint Paul, MN

#42 May 18, 2009
p t bull wrote:
<quoted text>
They (you) shouldn't have borrowed it in the first place. Don't rain on this proud gal's wonderful achievement just because you are full of self-pity.
Read teh book "Debt Cures". It isn't a cureall but it does have some horrifying facts about the government, lobbyists, and the credit card industry. If you're making 25-35k a year AND using credit cards, you're doomed. Good for this girl, getting her priorities straight. The bottom line is discipline. Cut up the card and do without. If you call the credit card company and ask for a lower percentage rate, 10 out of 10 times they'll give it to you. You can save thousands just by doing that.
Peter

Saint Paul, MN

#43 May 18, 2009
Why is this even in the news? It's the stupidest thing I've ever read... and it's NOT news.
Jolly Roger

Minneapolis, MN

#44 May 18, 2009
I'd party with her... and her friends. A day without a buzz is like a day that never wuz.
Ohmigosh

Elk River, MN

#45 May 18, 2009
Congratulations to Stephanie for paying off her credit card debt - she is much better for it in the long run, and if her friends learn similar spending skills, even better.

One item I'm surprised wasn't covered in the article or in the comments to this point is the deluge of credit card applications which are sent to college students. Both my kids have had credit card apps (pre-approved, of course) sent to them, at least one per month, for years. Knowing that college students have virtually ZERO money to speak of, isn't it a predatory lending practice to bombard them with low introductory rate, huge credit limit credit cards? Or to give away premiums (blankets, t-shirts, etc.) with a completed credit card application? It's obvious that their goal is for the students to rack up those big bills, a few hundred dollars at a time, and watch the interest compound. Sinful, in my opinion. I'm not saying the students aren't responsible for their spending habits, but if they weren't approved for the credit cards in the first place, it would be much harder to rack up those bills and interest charges.
keep in mind

Saint Paul, MN

#46 May 18, 2009
The American Lesion wrote:
Hamline Mom- when my plumbing breaks, I fix it. When my car needs repairs, I fix it. When I need medical help (luckily, rarely) I pay for it. Self sufficiency- you should try it sometime.
you're assuming that her plumbing, auto, and medical problems were do-it-yourself jobs. I can fix a leaky pipe in my home, on my car, and even on myself (joking)...but for some jobs, you need a professional.

broader perspective-you should try it sometime.
as for me

Saint Paul, MN

#47 May 18, 2009
i live far away from home and use my credit cards if i have to fly home for emergencies. i've also had to use it for other things as of late, considering my husband lost his job. i refuse to miss a mortgage, so sometimes i just use the card for other expenses.

on thing i do make sure of, though, is that my debt does not get bigger than what i can pay off in a year. and if i have any debt left over come tax refund time, i use that to pay off the rest.

i've done what this gal has done at least 3 times in my life already. not bragging either, because i should find a better system. i do have good credit though, as a result! LOL

my main problem: not enough emergency savings. that's my new goal, so i won't have to do this a fourth time.
citizen joe

Minneapolis, MN

#48 May 18, 2009
i give it a couple months or less, she'll be back in the debt-hole.
Whiz

United States

#49 May 18, 2009
Mrs R wrote:
I'm gladly surprised that the PP had the guts to run a story about what a positive role model a strong woman can be. The white, heterosexual bankers try to lure women into getting credit cards and getting deeply into debt. The way that they lure young women with ads showing fancy cars and fancy clothes is just disgusting. They should be outlawed. Finally we have a strong woman standing up against the bankers! Kudos to this young woman and to the PP for having the guts to run this story!
Have your kids read this above and it will scare them away from drugs.
p t bull

Minneapolis, MN

#50 May 19, 2009
Mrs R wrote:
I'm gladly surprised that the PP had the guts to run a story about what a positive role model a strong woman can be. The white, heterosexual bankers try to lure women into getting credit cards and getting deeply into debt...

I don't think you are keeping up with current events. It turns out the bank she got her credit card from has an all black/latina lesbian management team as the result of a consent decree with the department of justice regarding discriminatory promotion practices and some playboy magazines in the janitor's break room. Is it really a coincidence that suze got involved?
Kathleen

Middleboro, MA

#51 May 20, 2009
Wow, there are a lot of typos in the photo captions. Minneapolis, Friday, and Orman (spelled two different ways!) are all misspelled.
Workaday Oakdale Brother

United States

#52 May 20, 2009
Or, if her dad has connections to the energy industry, a defense contractor, or an evangelical church, perhaps W can invite her to TX and help her.
Dr Frank Lippenheimer wrote:
Gee, maybe Barry can invite her to the White House and use her as a prop to divert attention from the TRILLIONS of dollars in NEW spending that he & Pelosi have put on the U.S. Treasury Mastercard.
Workaday Oakdale Brother

United States

#53 May 20, 2009
Interesting idea. Perhaps they should also run a story about how these kids run up student loan debts because no one has bothered to tell them that there is a dearth of good jobs in America these days.

Or they could run a story about how these kids would be better off using their money to learn Hindi or Tagalog and move overseas for a call center job.
poorexample wrote:
What they should really do is a story about how these kids run up a bunch of debt because nobody is taught to live within their means and they all think they are entitled to something wake up people you are entitled to nothing
Workaday Oakdale Brother

United States

#54 May 20, 2009
Sadly, this credit card peddling to college students has been happening for decades. It's a doggone shame that the federal gov't has been letting this happen. Barney Frank and Richard Shelby, where were you?

I know several people who could have used less "Just say no" / "This is your brain on drugs" propaganda and more "This is your credit report after getting a subprime loan" propaganda.
Ohmigosh wrote:
Congratulations to Stephanie for paying off her credit card debt - she is much better for it in the long run, and if her friends learn similar spending skills, even better.
One item I'm surprised wasn't covered in the article or in the comments to this point is the deluge of credit card applications which are sent to college students. Both my kids have had credit card apps (pre-approved, of course) sent to them, at least one per month, for years. Knowing that college students have virtually ZERO money to speak of, isn't it a predatory lending practice to bombard them with low introductory rate, huge credit limit credit cards? Or to give away premiums (blankets, t-shirts, etc.) with a completed credit card application? It's obvious that their goal is for the students to rack up those big bills, a few hundred dollars at a time, and watch the interest compound. Sinful, in my opinion. I'm not saying the students aren't responsible for their spending habits, but if they weren't approved for the credit cards in the first place, it would be much harder to rack up those bills and interest charges.
Greg

Minneapolis, MN

#55 May 25, 2009
In the early 1970's as a college student I got few credit cards that I "mildly abused". Well under $1000 in inflation adjusted money. I got a relatively cheap lesson. The credit limits were far lower back then.

While I generally support the credit card companies on this new law I like the no plastic under 21 without a parental co-sign provision.

The prediction that the best card holders will pay more is based on the "law of inertia" which says the best card holders will stay with the credit cards they have and "grin and bear" new costs.

Some will but I am already working to game the system. I haven't done anything with it yet but I registered http://GameTheCard.com with the idea that the best risks can get the best credit/debit card terms.
Christal

London, UK

#57 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( http://goo.gl/44kQUQ ) too my friends and family.

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