Marta's Saving Guides

Penny saved is penny earned

Month: August 2016

I have been reading most of the messages and this one particularly caught my eye

I am fairly new at this great blog, but have been reading most of the messages and this one particularly caught my eye. I was close to $14,000.00 in credit card debt about nine years. I paid it all off on my own.

No consolidations, credit counseling….etc…

MOST IMPORTANT – a marriage divided will not last. A debt in a marriage belongs to BOTH of the partners. One person, whoever is most reliable and has more financial sense, needs to take control of it and your money should be combined for your expenses and debts. If you had some of the debt before you were married, guess what…it now belongs to both of you… When we took a payday loan from (this is a great service, btw) we both worked hard to pay it back on time. Marriage unites every aspect of both of your lives. I think the service your wife is all for is a big mistake.

Even though I was single when I was paying off my debt, there was one thing I learned and the truth is that I was responsible for it and I had to do what it took to pay it off. And it took me about 4 years ON MY OWN, so your situation with using this service is almost no different than what it would take for you to set up your own payment plan, plus you would not be paying anything extra to anyone.

You could cancel all your credit lines yourself except for one. Then cut that card up, but keep the account open. Now, you don’t have any credit cards to use anymore, but you are in control of all your own payments. When you gain control over it yourself, your life will start to change! It’s not the end of the world to have a debt to pay off. It basically comes down to a change of attitude. Don’t let the debt drive you crazy or break up your marriage. It’s not worth it.

Accept it for what it is. My basic belief is that all people have the capacity to do what it takes to get through just about any problem.

I was an average income earner and there were months, especially in the first year, where I paid anywhere between $500-$700 in credit card payments, just to get rid of some of the smaller balances. I still paid all my regular living expenses too. IT CAN BE DONE.

I’ve been there, done that. But it takes real commitment, responsibility and vigilance every day. Becoming FREE of a debt like that and then finally being FREE of it totally, if you do it youurself will be the best experience – it’s almost spiritual. It’s like quitting smoking and knowing you will never smoke again. (BTW- non smoker for almost 14 years)

Now I live a life where I don’t have any credit card debt. I use CASH, when I have it. I am self employed now, following my dreams of earning an income the way I want. My husband and I have only one debt… our mortgage. This a FREE, SIMPLE and EASY way to live. I only wish that many other people could build up to this way of life. It’s overwhelming in a great way.

As you may have determined I am into telling it like it is. Your personal truth about your debts and your responsibility for them will SET YOU FREE, way before the debts are gone.

I take offense to anyone telling me that

I take offense to anyone telling me, after the circumstances I’ve been through, to “buck up and take responsiblity instead of blaming the cc companies for my mistakes”. How dare anyone use such a broad, uninformed comment based on sheer opinion. I was a completely responsible consumer with perfect credit. I, like millions of other consumers out there, met with personal circumstances which tumbled my life into a frenzy. Credit cards companies, (I didn’t have that many) who I had been a loyal and well-paying customer to, were hard-nosed and unconcerned and not willing to allow me any slack, nor accept any arrangements I tried to make. Then started the fees—-late and over-the limit, once the late fees piled up.

In times past, credit card companies wold work with you and understand that things happen. Not any more. It’s prime-time for them when people have problems and fall into difficult times. They love it. High profit for them. I resent that. And I resent anybody who puts me in a big, undefined category with those who actually might be deadbeats. Again, how dare you.

I WAS a responsible consumer, VERY RESPONSIBLE. I don’t blame the companies for my DEBTS—–true, they are my own. But life happens. Nobody has EVER said that credit card companies are single-handed in causing American debt. Good Lord—-we’re not that stupid. The point being made is that they ARE predatory and are greedily taking advantage of a situation that is already there, in order to make profits. That’s all. I only agree on one thing—-I only have one card now, and am even thinking of getting rid of it, as I just don’t like swimming in the credit waters anymore. It’s too dangerous and there are no life preservers if you sink.

Here! Here! I am in one hundred percent agreement with this post. When I was in major credit card debt, I was the only who had to step up to the plate and work at fixing it. Nobody else was to blame, as much as I tried to blame some of it on my ex-huband, unfortunately none of the credit cards were in his name at all. They all had only my name on them. I can see someone trying to sue a creditor for giving them a credit card and letting them get into debt. It’s like the absurdity of suing a fast food chain for spilling HOT coffee all over yourself in one of their restaurants -????- remember that one!