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Capcha.org – Debt-Free Living is Possible

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I was staying out of the fray this time

OK, I was staying out of the fray this time until that last comment. Based on Pup Art’s ideology, a recovering alcoholic cannot tell someone it is dumb to drink. A former drug addict cannot be an example to people and tell about the dangers of drug and a parent who had a child out of wedlock cannot espouse the virtue of waiting until marriage.

Please, let’s be real. There is a reason why bankruptcy is in the list of most significant life stressors. It ranks up with the death of a loved one and divorce.

I once heard a wise saying that smart men learn from their mistakes and smarter men learn from other people’s mistakes.

BK should be the absolute last resort, when all else has failed. That includes delivering pizzas, selling everything but the kids. When we realize that, with the exception of medical bills, we chose to buy on credit. We owe the money.

Today, CNN said that Congress is trying to make the CC Companies straighten up their act as far as rates, fees, etc. Of course, it can all be a bunch of hogwash, but we can hope for better things to come.

My roommate who lives with us had a full time job, not a speck of credit card debt, and was driving an old van, living in his means.

Lymphoma struck last year, he is kind of OK, getting maintenance Chemo now and is still unable to work other than a few hours a week. Had a problem with embolisms during the heavy-duty chemo over the last summer, was hospitalized 2 times and almost lost it. They put a ‘screen’ or net in his leg to stop the blood clots from coming up to his lungs.

Medical bills in the hundred of thousands come here daily and he has no money.

Dine and Fandy for ‘responsibility’… He doesn’t nor ever has smoked, is not a drinker or abusive to his system. HELLO??? What might HE have done so wonderfully different???

I am happy to see the message below. I get tired of people telling me “If you lost more weight and exercised, you wouldn’t need to take insulin. HUH? as a type ONE diabetic, who was an athlete at the time of diagnosis and still am pretty dang fit at 51, that simply is not the way it always works! All the generalized attitudes of some folks would scare me… I guess if their kid gets sick, it is the kid’s fault…?

Ah well, we for the most part are not trying to escape responsibility, but dangit, we should be allowed to have a say: “I’d love to pay you, but I can’t afford that much since you raised the APR so much. Won’t you reconsider and let me make payments I can afford?” when these requests are met with robotic indifference, and no effort from them to just work with you, what then would those pious folks among us do?


December 3, 2016, bankruptcy credit card debt
The Credit Card Game

They have no shame ! Bad enough that they show up at universities all over the place. Now there is a CC game Get those kids hooked early! Convince them they need stuff, stuff and more stuff. If you want it, you can have it . Today! Just whip out the plastic and it’s yours! Let them know they can’t live without a credit card! Ha! I wonder if this new game gives away all the dirty tricks these co’s play! That’s how I got into my troubles. Silly me at the time thought it was “free money” and that I will pay for it later when I get a good job. Later came, but I was already way in over my head.

Maybe you are one of these people that shouldn’t have a credit card.

Harvard Professor Elizabeth Warren talks about this in her book, All Your Worth.

I haven’t used a credit card for several years. I was careless with them. My first husband was an alcoholic and I attended some AA meetings with him. They have all sorts of sayings in 12 step groups. One I remember was One drink is too many… twenty not enough. I think that can be turned around with someone who can’t control spending with a credit card to read One trip to the mall is too many.. twenty is not enough. It’s easy to get in over ones head when that compound interest starts adding up. Best wishes.. I hope you get out from under.

Thanks for the positive thoughts and well wishes. Yes, I am now officially out of the hole I dug myself in. I have a few credit cards now with small (no greater than $1500) credit limits, and all my charge offs are out of SOL. My credit scores/reports are still kinda crappy, but slowly climbing up.


August 3, 2016, credit card debt
New to the blog with a few questions

Hi…my name is Alex and I currently live in Tanzania, E Africa. We’ve been here for about 18 months now.

I have a few questions regarding credit card debt. First, when we came here we had quite a bit of credit card debt. Over the past 18 months we have managed to reduce that to about $9000.00 and we hope to pay at least half of that off in the next 6 months. We have one problem. Our interest rate on the card is crazy…around 23%. We’ve had this card since the beginning of our marriage (when we weren’t as careful with our payment dates). I CAN’T get them to lower the interest rate…and no other card will give me a limit high enough to transfer the entire balance.

So it seems as though I am stuck with that rate. So my question is…could I take out a personal loan with a lower interst rate to pay it off…It would just be a loan to pay off the debt on the higer interest rate and basically transfer it to a lower rate. Second…would this negatively affect my credit score? My score is actually good at the moment (713) and I don’t want it to go down. And last…if the personal loan isn’t a good idea…any suggestions?

My calculations say that you hope to pay about $900 a month then, yes? I got that by figuring out what you’d have to pay to get from $9000 to $4500 in six months at 23% APR.

If you could get someone to lend you the dough, then yes. With the assumptions above, I calculate you could save about $1000 in interest over the life of the loan if you could get something at 0% (good luck there); you’d end up paying off about one payment early: 10 months instead of 11.

Naturally, as the APR of the new loan climbs, the savings drops. I calculate that a 11.5% APR (half of current) refinance would save about $600 over the 10/11 months of the loan, or about $60/month. Not a heck of a lot of difference over the life of the loan.

I don’t know the answer to this one, but don’t see why it would. You’d get dinged if you got behind, and also — eventually — if you stopped borrowing at all. If you just shift it around, I dunno…


February 12, 2016, credit card debt