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If anyone thinks the government can "make" the banks lower those rates to 4-5% you have drank too much koolaid. The banks are sucking Americans dry of every last dime because they made bad bets and taxpayers have to foot the bill and make them whole again.
Keep that card, hope the government will come to your rescue and "feed the beast"
OR
Pay off the card if you can or transfer it to a local bank, not one of the bailout babies.
Better yet, get yourself into a credit union and support them instead.
Millions of people are doing that right now and millions more will be doing that in the very near future.
From a credit rating standpoint, that's obviously not a good idea, but you are right in that when it comes down to paying the credit card bill or buying groceries for the kids, the latter will surely prevail in this economy.
From a credit rating standpoint, that's obviously not a good idea, but you are right in that when it comes down to paying the credit card bill or buying groceries for the kids, the latter will surely prevail in this economy.
Well there is always a cost....but in the end does it make sense to worry about your rating and paying every month when there are more important issues in your life?
Well there is always a cost....but in the end does it make sense to worry about your rating and paying every month when there are more important issues in your life?
I was listening to a financial segment on NPR & their advice for paying off bills was to first pay your mortgage or rent, then car payment, then I believe it was necessities such as gas/childcare/food & I think after that it was school loans & then lastly it was credit card bills. So, that's what I'm doing. Unfortunately, it means I missed this months payment & now of course that gives me a late payment fee PLUS an overlimit fee but what can I do? It's just going to have to be that way for a few months. I'll probably end up getting dropped anyway so what's the use?
I was listening to a financial segment on NPR & their advice for paying off bills was to first pay your mortgage or rent, then car payment, then I believe it was necessities such as gas/childcare/food & I think after that it was school loans & then lastly it was credit card bills. So, that's what I'm doing. Unfortunately, it means I missed this months payment & now of course that gives me a late payment fee PLUS an overlimit fee but what can I do? It's just going to have to be that way for a few months. I'll probably end up getting dropped anyway so what's the use?
Not to turn this into a financial advisor thread, but missing a payment of any kind, as you know, is not preferrable. Have you:
Increased the deductible on your car insurance? (lower payment usually)
Cancelled or reduced your cable or satellite TV service?
Reduced the calling plan on your cell phone?
Bought groceries instead of eating out?
Turn off electrical items when your not home? (Like your PC)
Combined errands with other car trips?
Minimum payments on credit cards are usually pretty reasonable (?). Have you done everything you can to make sure you have the funds to keep up with your obligations? (Rhetorical questions...no answers needed).
I was listening to a financial segment on NPR & their advice for paying off bills was to first pay your mortgage or rent, then car payment, then I believe it was necessities such as gas/childcare/food & I think after that it was school loans & then lastly it was credit card bills. So, that's what I'm doing. Unfortunately, it means I missed this months payment & now of course that gives me a late payment fee PLUS an overlimit fee but what can I do? It's just going to have to be that way for a few months. I'll probably end up getting dropped anyway so what's the use?
We pay minimums,have for over a year now...we are now in the situation that we can no longer pay due to financial changes in our lives,in fact we are in contact with our mortgage holders as to how to give the house back in the least troublesome manner....
You are one of millions in the same boat...the boat is sinking I think.
We pay minimums,have for over a year now...we are now in the situation that we can no longer pay due to financial changes in our lives,in fact we are in contact with our mortgage holders as to how to give the house back in the least troublesome manner....
You are one of millions in the same boat...the boat is sinking I think.
Just curious, will the stimulus housing refinance options help your situation?
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