Internet's first get-out-of-debt community - 136,000 members

mtmra70.

So here was/is my problem. I was fresh out of highschool and scored a major paying job. I moved in with my g/f and life was good. Bought a new cycle, had a paid off car, life was good.

Then I discovered credit cards. Now I didnt need them, because I had lots of money, but I didnt have that money at once. And I figured, hey I can pay these credit cards without a problem. Then the car broke down and we bought a new one. We were still doing well but getting the debt up a little.

Long story short, I have managed our finances so well over the past 4-5 years that I account for every penny of my paycheck. It either goes to gas, credit card bills or my loan.

Moral of my life: It was bad that I knew how to budget.

I have been revieiwng this site and I think I will submit my info to be contacted by an agent. My income is pretty good and I could a single fixed payment, Im just at the 100% debt to income ratio and cant get out of it!!

Anyone else have/had the same problem?

Posted: Sat Oct 01, 2005 8:16 am Subject:

mtmra70,

I had some debt problems that's why I'm here! I got multiple benefits by registering myself with this site-

I got true relief from my debt burden,
I got enough moral support from this forum,
Now I am trying to help others and this is a great feeling indeed.

Looking forward to hearing from you very soon,

Bryan

Posted: Sat Oct 01, 2005 8:50 am Subject:

Hi mtmra70

Welcome to the forums. Proper budgeting is very essential for a normal and healthy life. We do have various posts in this forum specifying the needs of a proper budgeting and how to fight with the debt related problems.

I hope that you should start managing your finance by closing all the unnecessary card accounts as early as possible. Not using the card accounts also add a lot of financial charges that just can't be avoided.

Your next step to proper budgeting should be reducing the monthly utility expenses as much as possible. This will efficiently help you to save a good amount of money and contribute the money towards your debt account.

Rest of the other things to fight with the debt related problems can be dealt each day while you are facing it. I hope that your financial problems are solved within the earliest time and you are able to lead a happy and peaceful life.

Regards
Roxette

indebt · Posted: Sat Oct 01, 2005 12:20 pm Subject:

I'm also in a similar situation, mtmra. I first tried credit card when I was in college. It was a nice experience! Since I was a commuter, it seemed safe for me instead of carrying money all the time. Credit cards are very handy and really easy to use. So I became fond of them. When I left college, found myself stretched beyond my limit. I'm still suffering a lot. Total debt is increasing rapidly. My credit score is below the standard, which restricts me from getting mortgage loans also. Need a hand�

Posted: Sat Oct 01, 2005 12:31 pm Subject:

Posted: Sat Oct 01, 2005 12:44 pm Subject:

indebt,

I do admit that credit cards are helpful. They provide protection in emergency, eliminate the need of carrying cash all the time, but as ben mentioned, these are really helpful when you know how to manage them.

Using credit card efficiently is an art and needs technical skill. Credit score is influenced highly by the way you handle your credit cards.

It seems that you are trying to get some mortgage loans. Credit score plays a vital role to get a loan approved. Try to improve your credit score. If you find it difficult to repay your debts, try a debt consolidation program. It will help you to improve your credit score as well.

You can try to achieve a good score by your own, check the easy ways to improve credit score here-
http://www.debtconsolidationcare.com/forums/credit-check.html

For any more information, please share your problem in the forums.

Bryan

mtmra70@hotmail.com · Posted: Sun Oct 02, 2005 10:40 am Subject:

Thanks for the kind words, lets see what will come of the phone call. Smile

Posted: Sun Oct 02, 2005 10:42 am Subject:

ok, that was annoying.

Posted: Mon Oct 03, 2005 12:19 pm Subject:

Posted: Mon Oct 03, 2005 3:44 pm Subject:

That the site had my cookie, but not the forum. This forum isnt as intuitive as others Smile

sarahbb0510 · Posted: Wed Oct 05, 2005 1:02 pm Subject:

I know when I went to college the credit card companies would set up shop on our campus and offer free gifts to sign up. Unless your parents are well off...what college kid can really be responsible paying credit card bills. I know I charged a lot of beer and pizza and I'm still paying it off...ugh.

Posted: Wed Oct 05, 2005 4:11 pm Subject:

Hi sarahbb0510

Most of the credit card companies take the advantage of lack of maturity in the teenagers. They know that there is a least possibility of the teenagers making good financial decisions and that is the reason for introducing lucrative offers.

Its one of the business strategies.

Posted: Mon Sep 10, 2007 12:28 pm Subject:

I feel like cc companies target people they know will abuse. I think everyone should be responsible for their own behavior but cc companies have some responsibility in all of this as well. Tobacco finally got nailed for it but cc companies will be allowed to do this for years to come.

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