Americans struggling with sharp rise ...

Americans struggling with sharp rise in credit card debt

There are 21 comments on the The Orlando Sentinel story from Dec 23, 2007, titled Americans struggling with sharp rise in credit card debt. In it, The Orlando Sentinel reports that:

Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.

Join the discussion below, or Read more at The Orlando Sentinel.

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EASY MONEY

Bangkok, Thailand

#1 Dec 24, 2007
What the hell is wrong with Americans? They are struggling with high gas prices, high mortgage costs, high food prices and now it's the credit card crunch. The problem as I see it is that Americans want everything today, they just can't stand to do without something. Well boys and girls not all of you can or should be rich, not all of you should get the things the guy down the street has, not all of you are bright enough to handle owning a house, or car, or credit cards or children. That's life and the sooner Americans wake up to that fact the better off America will be. Before some of you jump up and say, who the hell is he to say that while living in Thailand, well I am an American living out side looking in. Most of you that are having problems brought them all on yourself, your just not bright enough to handle the 21 century or for that matter any century, because you'll never make it to the top.
wowee

El Paso, TX

#2 Dec 24, 2007
So true. The goal in life..."gotta keep up with the Jones'" HAHA
Pitiful.

Since: Sep 07

Oviedo, FL

#3 Dec 24, 2007
Once again, this is a problem that you control. Just like overeating and being fat. It's hard to feel sorry for someone who does it to themselves. Do we have to bail these people out just like the mortgage forclosure people? Hope not.

Since: Dec 06

Apollo Beach, FL

#4 Dec 24, 2007
wowee wrote:
So true. The goal in life..."gotta keep up with the Jones'" HAHA
Pitiful.
It's taken some time but the instant gratification era is feeling the pinch and needs to get ready for a big sting.
The old adage still applies, "if you want to play, you gotta pay".
Wanting the very latest gadget in sight will scare some people into biting the bullet.
irony

Columbia, SC

#5 Dec 24, 2007
people really make bad choices... and one of the results is a trashed credit rating. as others have pointed out, much of is due to the inability for people to delay gratification of their "wants".

case in point, i was apalled to learn that my brother is allowing my five year old nephew to open his christmas presents early (been going on all week) after he pleads and pleads. i always thought christmas was an excellent time to teach kids about delayed gratification - my nephew is on his way to becoming like the people in this story.

Since: Mar 07

Location hidden

#6 Dec 24, 2007
The " I want it NOW syndrome " will bite you back every time.
Tommy

East Saint Louis, IL

#7 Dec 24, 2007
But I can't be overdrawn. I still have checks left!
I Said it First

Holiday, FL

#8 Dec 24, 2007
Soon all comments, all talk, etc.etc., will cease and then reality will take over. The money faucet has a liquidity clot, people will be homeless and Debt Crisis MasterLess and VisaLess shall all be getting Less and Less Payments and "VOILA" we have another Liquidity Crisis. Pary and Spend to the Limits, do not hold back on Credit and the Hell With Paying the Money Changers back. Max out all your credit cards because the Hedge Funds are and the Banks are. Take Take Take and do not BREAK the Money Chain. Spend but do not Pay the Crooks Back.
I Said it First

Holiday, FL

#9 Dec 24, 2007
Ozzie wrote:
The " I want it NOW syndrome " will bite you back every time.
" I The NOW syndrome " will bite you back every time. Do not pay your credit card debts, the Federal Reserve will hold a meeting and all your debts will be written down and get this " forgiven" as in the Housing Mortgage Market.
Bite the Banks Back and tell them to Take a Hike. What can they do, take 100 MILLION PEOPLE TO COURT, the fact is the debtor is in CONTROL. It will take them 100 years to take everyone to court, more than likely all those that owe will be passed on and they will leave their mark on history.
Alexis

United States

#10 Dec 24, 2007
Just wait until the liberals implement CURRENCY OF THE AMERICAS, meaning every country in South America to Canada, including the USA, will have the same currency, like the Euro in Europe.

The Euro had and still has a devastating effect on the economies of every country now using this new currency. Everyhing now costs more than it did with their original currency and the wages have not changed.

The U.S. Dollars is practically worthless over there.

MERRY CHRISTMAS
I Said it First

Holiday, FL

#11 Dec 24, 2007
Alexis wrote:
Just wait until the liberals implement CURRENCY OF THE AMERICAS, meaning every country in South America to Canada, including the USA, will have the same currency, like the Euro in Europe.
The Euro had and still has a devastating effect on the economies of every country now using this new currency. Everyhing now costs more than it did with their original currency and the wages have not changed.
The U.S. Dollars is practically worthless over there.
MERRY CHRISTMAS
AND WORTHLESS OVER HERE. The Administrations's management of our fiscal situation is a fraud perpetrated on the American People.

UnHappy Financial New Year coming to All!!!
GRIZZLEY BEAR

Europe

#12 Dec 24, 2007
IT TIME TO GET RID OF THE PLASTIC AND SHOVE IT UP THE BANKS BUNS,RETURN TO A GOLD STANDARD. THE WOARSE IS MBNA VISA, SLAVES TO THERE INTEREST RATES.
Tommy

East Saint Louis, IL

#13 Dec 24, 2007
It's too easy for some people to see that $3000 plasma TV on the store shelf and say "charge it!". Now you've got a TV that the credit card company owns and that you'll be paying 10-30% interest on for a long, long time.

It's based on the same principles the government uses to collect income taxes. Pick a little out of your paycheck each time, and you won't be as upset as you would be if you were shelling out $10,000 all at once on April 15. If you don't see the cash leaving your hands, then you're less likely to know it's going. They sure to get THEIR money, you're less pissed.

"Minimum payments", what a wonderful, never ending, scharade!

Stop spending money you don't have, and don't use it for everything you by. If you have to use a credit card to buy a slice of pizza and a soda for lunch, or a pack of smokes, then it's time to get your finances in order, otherwise you're going to have a rough road ahead.

I only use my card (I only have ONE) so I don't have to carry a lot of cash, and pay it off each month. It's called BUDGETING and learning to do without sometimes. The credit card companies, which use to call you a "valued customer" for doing that, now hate it. They need that cash to pay for all the people they've issued cards to that should have never qualified for one and defaulted.

Oh, and just because you may have a $25,000 limit doesn't mean you should go out an use it to buy a car!
EASY MONEY

Bangkok, Thailand

#14 Dec 24, 2007
Not only is the general public at blame, so too the banks. When I lived in the States, I had two credit cards, well one and a debit. But it seemed like every three weeks some bank from the middle of east gong gong, was trying to give me another and the ploy was here are some checks just go out and have a good time and remember "YOU" don't have to start paying us until February. They all went in the trash. I have had a AMEX Gold card since 1979, works fine and I pay it each and every month before it's due.
I have no sympathy or compassion for those that are so dumb as to get themselves in that position, the same goes for those people with the mortgage problems. There is no reward for stupidity!!
dirty whiteboy

Traverse City, MI

#15 Dec 24, 2007
i have many credit cards and they are all paid off because when i was younger i was taught that if you can't afford it you do without it till you can afford it. i think most people anymore buy stuff knowing they can't afford it at the moment but they hope that by the time they get the bill they will have come up with the money.
sometimes i wonder if people realize that by putting all this stuff on a credit card they end up paying more in the long run for it. is it really worth it?
EASY MONEY

Bangkok, Thailand

#16 Dec 25, 2007
When a credit card is used reasonably, it is handy and great when traveling. It's the I want it now group that can't handle it.
irony

Columbia, SC

#19 Dec 26, 2007
I Said it First wrote:
<quoted text>
AND WORTHLESS OVER HERE. The Administrations's management of our fiscal situation is a fraud perpetrated on the American People.
UnHappy Financial New Year coming to All!!!
if we'd get tyhe gov't out of managing our economy and let the free market operate as intended... we'd be in a much better place.
Vertigo

Westminster, CA

#21 Jan 14, 2008
You think that if you stopped spending above your payement potential it would help?

So you go off and buy a house, a new car, health insurance and then realize that you can't afford the aforementioned expenses and then blame the government and the corporations?

Sure, call up "Clean Up Your Credit History" right now.

If you're overextended there's only yourself to blame.
ha ha

Riverside, IL

#22 Jan 14, 2008
if you don't have money dont use your credit card very simple. just like if can't feed your children don't have any kids. there are alot of stupid people in this country.
Theresa-Marie

London, UK

#23 Mar 26, 2014
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