credit card debt soaring

The explanation for this surge in credit card debt is that millions of homeowners are losing the ability to borrow against their home.
This aggregate number conceals vast differences among homeowners. More than one-third of homeowners have completely paid off their mortgages and many others are close to having them paid off.

The above from your link explains the have's and the shouldn't even have a house people.
when there is excess there must be pain. House's are not atm's :clink:
 
Watermark said:
Reminds me of the constitutions of authoritarian nations.

The people shall have free speech

The people shall have freedom of religion

*note that the above does not apply if said speech or religion is deemed by the government not to be for the social good
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What does this have to do with credit cards?
 
LOL...........

Beefy said:
What does this have to do with credit cards?
Click to expand...


Maybe waterbaby means the freedom to charge your card above what you can pay then the freedom to file Bankruptcy..

Personally I cut all my CC's up when I retired...have no CC debt..it is great! I only spend what In have in the bank month to month...it is called a simple budget!;)
 
Am I concerned about the economy? Sort of. Mostly because of my reading, other than the price of gas and milk, I've not felt any real 'crunch.' Am I spending less? Not so much for Christmas, but I've been paying off my credit cards more quickly. Should be at $0 in 3 months. My mortgage is a fixed rate, with accelerated payment-meaning I pay twice a month. While I know 'logically' it's best to keep my property taxes and insurance separate from my mortgage, decide about 2 years ago to escrow, since it's the best way to protect my credit rating.

I qualify for 'working poor.' While I earn about $30k, I own my townhome. My 2006 car is paid for. I have 4 color televisions, on demand, cell phone, land phone, central heat and ac, microwave, maytag oven, whirlpool fridge and dishwasher, washer and dryer. I have $6k worth of hearing aids, $600 worth of glasses/contacts. A G5 bought in 2005 and Macbook bought in 2006. 2 kids full time in university, one part time and working full time. Right now I have about $18k in savings. I really wonder at the hard time the middle class is having. Needless to say, I'm not going to go into silverware, china, baleek and antiques.

Could I borrow against my home? Hmmm. I bought it about 12 years ago for $130k. I put down $30k. 2 1/2 years ago I refinance, est. value: $284k. I then owed $76k, refi for $110k. I made improvements on the house and cleared out my debt. At that time, I had my dad living with me, sick. For the 4 years prior to that, my mom was also living with us, with 24 hour nursing. Her illness cost my dad nearly $700k, but until it was necessary, she was not going into a nursing home. She died, then my dad was sick, with limited income. The refi got us through. Today I got a solicitation about selling my home, 3 doors down the same model sold in November for $254k. That makes sense considering the bubble bursting, in an area that holds property values pretty well, ($30k loss from 2 years ago). Still that's a potential gain off $100k over 13 years.

My dad died at the end of August. One could say 'my life sucks', but I wouldn't. I don't have a terrible life and more important I see my kids doing better. My parents were there for me and I'm there for my kids. They are paying for their higher education on their own, with only bits and pieces from me. I've not needed to do this on 'credit cards' for the most part and when it's been necessary, been able to do what I can afford. Which is why I'll be able to pay them off pretty quickly, (I could pay them all off today, which is just being responsible use of credit).

While I can see the temptation of falling into credit card debt, I don't see actually doing it.
 
'Geeez Louise'.............

Kathianne said:
Am I concerned about the economy? Sort of. Mostly because of my reading, other than the price of gas and milk, I've not felt any real 'crunch.' Am I spending less? Not so much for Christmas, but I've been paying off my credit cards more quickly. Should be at $0 in 3 months. My mortgage is a fixed rate, with accelerated payment-meaning I pay twice a month. While I know 'logically' it's best to keep my property taxes and insurance separate from my mortgage, decide about 2 years ago to escrow, since it's the best way to protect my credit rating.

I qualify for 'working poor.' While I earn about $30k, I own my townhome. My 2006 car is paid for. I have 4 color televisions, on demand, cell phone, land phone, central heat and ac, microwave, maytag oven, whirlpool fridge and dishwasher, washer and dryer. I have $6k worth of hearing aids, $600 worth of glasses/contacts. A G5 bought in 2005 and Macbook bought in 2006. 2 kids full time in university, one part time and working full time. Right now I have about $18k in savings. I really wonder at the hard time the middle class is having. Needless to say, I'm not going to go into silverware, china, baleek and antiques.

Could I borrow against my home? Hmmm. I bought it about 12 years ago for $130k. I put down $30k. 2 1/2 years ago I refinance, est. value: $284k. I then owed $76k, refi for $110k. I made improvements on the house and cleared out my debt. At that time, I had my dad living with me, sick. For the 4 years prior to that, my mom was also living with us, with 24 hour nursing. Her illness cost my dad nearly $700k, but until it was necessary, she was not going into a nursing home. She died, then my dad was sick, with limited income. The refi got us through. Today I got a solicitation about selling my home, 3 doors down the same model sold in November for $254k. That makes sense considering the bubble bursting, in an area that holds property values pretty well, ($30k loss from 2 years ago). Still that's a potential gain off $100k over 13 years.

My dad died at the end of August. One could say 'my life sucks', but I wouldn't. I don't have a terrible life and more important I see my kids doing better. My parents were there for me and I'm there for my kids. They are paying for their higher education on their own, with only bits and pieces from me. I've not needed to do this on 'credit cards' for the most part and when it's been necessary, been able to do what I can afford. Which is why I'll be able to pay them off pretty quickly, (I could pay them all off today, which is just being responsible use of credit).

While I can see the temptation of falling into credit card debt, I don't see actually doing it.
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How the hell did you do all the above just earning 30k per year?...Did your divorce attorney get ya all ya needed? or did ya hit the lotto? I'm perplexed to say the least!
 
Yep. She must have got a lot from a divorce or something. She's a fascist apologist. pay no mind. Ignore her woe is me bullshit.
 
Kathianne said:
Am I concerned about the economy? Sort of. Mostly because of my reading, other than the price of gas and milk, I've not felt any real 'crunch.' Am I spending less? Not so much for Christmas, but I've been paying off my credit cards more quickly. Should be at $0 in 3 months. My mortgage is a fixed rate, with accelerated payment-meaning I pay twice a month. While I know 'logically' it's best to keep my property taxes and insurance separate from my mortgage, decide about 2 years ago to escrow, since it's the best way to protect my credit rating.

I qualify for 'working poor.' While I earn about $30k, I own my townhome. My 2006 car is paid for. I have 4 color televisions, on demand, cell phone, land phone, central heat and ac, microwave, maytag oven, whirlpool fridge and dishwasher, washer and dryer. I have $6k worth of hearing aids, $600 worth of glasses/contacts. A G5 bought in 2005 and Macbook bought in 2006. 2 kids full time in university, one part time and working full time. Right now I have about $18k in savings. I really wonder at the hard time the middle class is having. Needless to say, I'm not going to go into silverware, china, baleek and antiques.

Could I borrow against my home? Hmmm. I bought it about 12 years ago for $130k. I put down $30k. 2 1/2 years ago I refinance, est. value: $284k. I then owed $76k, refi for $110k. I made improvements on the house and cleared out my debt. At that time, I had my dad living with me, sick. For the 4 years prior to that, my mom was also living with us, with 24 hour nursing. Her illness cost my dad nearly $700k, but until it was necessary, she was not going into a nursing home. She died, then my dad was sick, with limited income. The refi got us through. Today I got a solicitation about selling my home, 3 doors down the same model sold in November for $254k. That makes sense considering the bubble bursting, in an area that holds property values pretty well, ($30k loss from 2 years ago). Still that's a potential gain off $100k over 13 years.

My dad died at the end of August. One could say 'my life sucks', but I wouldn't. I don't have a terrible life and more important I see my kids doing better. My parents were there for me and I'm there for my kids. They are paying for their higher education on their own, with only bits and pieces from me. I've not needed to do this on 'credit cards' for the most part and when it's been necessary, been able to do what I can afford. Which is why I'll be able to pay them off pretty quickly, (I could pay them all off today, which is just being responsible use of credit).

While I can see the temptation of falling into credit card debt, I don't see actually doing it.
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Good for you Kath.

You seem to be doing it right and placing family at the top of the list.
There are people much better off than you who fall throught the holes due to family illness. Medical bills are the number one reason for bankruptcy. There are things in life you just cant control. I hope you stay healthy adn never have these problems.
 
She's been listening to Michael Medved who everyday says, "People think things are bad, but when asked about their particular lives, they're doing ok!" It's internationalist fascist cheerleading.
 
she's an expample of what smart people can do on 30K. There are millionaire that never made more. Like her they don't go for 70 inch plasma's and 80,000 cars.
:clink:
 
Topspin said:
she's an expample of what smart people can do on 30K. There are millionaire that never made more. Like her they don't go for 70 inch plasma's and 80,000 cars.
:clink:
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No. She fleeced some guy and is acting like she's been living solely on 30k all along. It;s a lie.
 
AssHatZombie said:
No. She fleeced some guy and is acting like she's been living solely on 30k all along. It;s a lie.
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Bullshit! The youngest is now 22. At that time my income was 26k and he was providing 800 a month in child support. Never did I get alimony or ask for it. Let's see, that's 4 years now without a penny from 'the guy' who I was married to for 14 years.

Remember when I said you were acting more reasonably? Forget it. You are more than your chosen name.
 
Desh said:
Good for you Kath.

You seem to be doing it right and placing family at the top of the list.
There are people much better off than you who fall throught the holes due to family illness. Medical bills are the number one reason for bankruptcy. There are things in life you just cant control. I hope you stay healthy adn never have these problems.
Click to expand...

Perhaps you missed the thread weeks/months ago, when I said that after completing my teaching credentials, I worked in insurance for 2 years, to get what I needed to buy home? Then when I decided to do the teaching, which involved subbing for another 2 years, I worked over 70 hours per week: subbing almost daily, teaching at risk hs kids 2 nights per week, 3 nights and a weekend day at grocery-for insurance. I never tried to 'pay' for my own insurance.
 
Kathianne said:
Bullshit! The youngest is now 22. At that time my income was 26k and he was providing 800 a month in child support. Never did I get alimony or ask for it. Let's see, that's 4 years now without a penny from 'the guy' who I was married to for 14 years.

Remember when I said you were acting more reasonably? Forget it. You are more than your chosen name.
Click to expand...
And after 14 years of marriage she could have gotten spousal support. The fact that she did not ask for it says a great deal about her as a person.
 
Kathianne said:
Bullshit! The youngest is now 22. At that time my income was 26k and he was providing 800 a month in child support. Never did I get alimony or ask for it. Let's see, that's 4 years now without a penny from 'the guy' who I was married to for 14 years.

Remember when I said you were acting more reasonably? Forget it. You are more than your chosen name.
Click to expand...

But for 14 years you were supported. ANd 800 a month is actually a lot of money. The soaring debt of america is not negated by your trumped up tales of woe.
 
AssHatZombie said:
But for 14 years you were supported. ANd 800 a month is actually a lot of money. The soaring debt of america is not negated by your trumped up tales of woe.
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So sayeth he who hasn't kids. The 'support' didn't do so for the kids, much less myself. Get a grip, cause you haven't a clue.

Tell us ah, what do you do with what? I mean other than bashing Masons, Jews, Hispanics, Blacks...
 
Desh said:
Good for you Kath.

You seem to be doing it right and placing family at the top of the list.
There are people much better off than you who fall throught the holes due to family illness. Medical bills are the number one reason for bankruptcy. There are things in life you just cant control. I hope you stay healthy adn never have these problems.
Click to expand...

Thanks. We disagree on more than we agree, but on certain things, well we cross over. That was a mouthful! :clink:
 
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