Credit card debt

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I. Cold

I. Cold

Sicc OG
#41
May 2, 2002
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#41
Mari go DumB said:
Damn, am I the one with the highest debt? My debt's at $16K. :ermm:
Been wanting to file for bankruptcy, though; is that a good idea?
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just keep chippin away at it. see if any of your credit card companies will shave of a couple gs. Ive heard they will do that for struggling people. but chip away at it though. any extra cash you get, save it up, and make a payment. tax returns - use all that to pay off cards.

I wouldnt file for bankruptcy though.
 
I. Cold

I. Cold

Sicc OG
#42
May 2, 2002
9,580
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#42
HIM said:
$0.00..

Credit score last Feb was higher than 730 and my girl's score was over 800...I'd say we are doing alright for ourselves...We both have a credit card(she uses hers more than I use mine), but we both pay it off as soon as we get paid.. I just hate owing or having credit debt...

We both have school loans though..I have about 7,000 that I'm gonna start paying on this month actually...
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730.. damn, you doing well, fam. thats good shit to have a score over 700. Mines at a 670 right now cuz both my cards are maxed out (3k a piece). Im gettin FUCKED with interest rates though, goddamn. I also got a late credit card payment thats fucin 7 years old, but that shits droppin off my record next june. And Im paying my cards down to 1k each once I get my tax return with my first time home buyers credit. So Im hoping in about a year my score will be above 700. My goal is to hit 750.
 
S

STS

Sicc OG
#44
Sep 12, 2002
3,008
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#44
$23ish
the real question is how do you let yourself get to 16k?
i know after 3k i was kinda like maybe i should stop. but once it hit 4k i knew i had to stop orelse i wont be able to pay it back.

they got me with 1% for 12 months, so it was bascially like free money. i kept saying oh ill pay it back later, till it racked up.

it took my first big comp check and my tax return to pay it back
 
HIM

HIM

Sicc OG
#45
Sep 27, 2002
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#45
I just got a position working at a University as an Academic Advisor for MBA students. making around 52...but before that I was making 36 a year in a small town in WA..rent was literally $495 for a NICE place..you could get a NICE 3 bedroom, 2 bathroom apt for 995. the cost of living was cheap, so that 36 was treating me right..

But the thing is, I(my girl as well) have ridiculous discipline..my mom practically raised me and my siblings(6 kids total) on credit and I saw all the s--t she went through, so I learned from that and vowed to always be responsible when it came to my finances.. My girl came from a family where they had money. Her pops was high ranking in the Military and saved out the anus..they own 4 homes across America. Luckily, she was a penny pincher as well and she works hard.

You just have to make your debt a priority. I bet there are some things you can cut out or reduce in your life. I didnt have cable for the past 2 years. I could afford it, but just didnt need it. It was different at first because I have always had cable, but I got used to it. It also encouraged me to get out of the house, so I devoted most of that time to working out and getting in shape. You gotta budget and be patient. it takes time and money to get out of debt. But the sooner you start, the better.
 
MEXCOM

MEXCOM

Sicc OG
#46
Feb 9, 2003
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#46
STS said:
$23ish
the real question is how do you let yourself get to 16k?
i know after 3k i was kinda like maybe i should stop. but once it hit 4k i knew i had to stop orelse i wont be able to pay it back.

they got me with 1% for 12 months, so it was bascially like free money. i kept saying oh ill pay it back later, till it racked up.

it took my first big comp check and my tax return to pay it back
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I make roughly 35-36 an hour.

But I'm in debt at about 2.5k. I only keep it revolving to keep my credit score high.
 
GHP

GHP

Sicc OG
#53
Jul 21, 2002
16,280
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#53
I work for one of the major banks collecting on business lines of credit, some of these guys owe over 100k on just one card and alot of them have multiple lines.
 
B-San

B-San

Sicc OG
#54
Apr 7, 2006
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#54
No debt on my end but my gurl.... oh boy.....

let's just say there's gonna be a lot of paperowrk involved once the word 'm-word' gets brought up lol
 
5

510PLAYA

Sicc OG
#55
Apr 25, 2002
1,305
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#55
B-San said:
No debt on my end but my gurl.... oh boy.....

let's just say there's gonna be a lot of paperowrk involved once the word 'm-word' gets brought up lol
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Her debt has nothing to do with u when u get married. The only thing it will affect is if u try to get a loan together and her debt/income will prolly screw u over. When i got married i had 40k in credit card debt and it has nothing to do with my wife. When we bought a house we were ok because my debt to income was less that 40% and when we added her income it made it even lower. Im filing for bankruptcy with in the next 90 days and it wont affect her at all because we dont have any joint debt together, not even a bank account.
 
S

Sneak

Sicc OG
#56
May 11, 2002
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#56
Cmon people! If you cant afford to buy it cash you dont buy it! Its that simple. You dont need that new pair of Nikes or whatever it is if you have to charge it. My credit card bill is roughly ~200$ a month and is paid off every month.
 
kayvee

kayvee

Sicc OG
#57
Nov 20, 2005
16,870
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#57
student loans - 50k
auto loan - 20k
cc's - 5k

i paid down my cc's when i got my tax return but then i got laid off so i maxed them out again. i gotta pay them down and pay off my car ASAP. luckily i have FOREVER to pay off my student loans.

yay for having a great job again.

~k.
 
kayvee

kayvee

Sicc OG
#59
Nov 20, 2005
16,870
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#59
i'd say for the most part the auto loan has been beneficial to my credit score.

i know im closing two cards next year becuase i hardly shop at one store and the other store is so cheap i always end up paying cash.

~k.
 
GHP

GHP

Sicc OG
#60
Jul 21, 2002
16,280
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#60
I only use my credit card for sheer emergency stuff like car repairs and for school stuff that i usually pay back fast when my gi bill money gets to me. I did rack up one of my cards pretty high when i wasn't working and was going to school full time in 05 (and i put rims on my car lol cough cough)

My spending habits must be pretty good though since they never fuck with my rates, i havn't had my fico checked in awhile but its always hovered around 720 every time i checked even if i was put in collections once for a medical bill.
 
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