[jonasdatum]

Farmgirl if you are still considering using a cash rewards card this one in particular might suite your needs.

Capital One® No Hassle CashSM Rewards
http://www.capitalone.com/creditcard...403D_H2_01_T_Z

According the data on the site, there is "no cap" on cash rewards. That can work to 'your' advantage! However I don't see any 2% utility benefits that the Citi cards have. Also, CO (Capital One) supposedly wants "very good" credit. I am considering this card, but my expenditures don't facilitate the need at this point in time.

I hope the power of consumer adapted credit cards serves you well. It has served me great thus far.

[jonasdatum]

At work today I got into a brief but heated discussion with some older coworkers. According there responses seem to indicate that spending money they don't have or isn't properly budgeted that they do not need - not wise. Especially when you have others dependant on your financial decisions. I on the other hand have nobody but myself.

I just got paid today and since my promotion and subscription to benifits my income has increased. My only solution is to work more hours.

Why do people make these decisions? It just seems so foolish.

Anyway has anybody have some interesting money saving updates? I am burning for more information.

[Farmgirl22]

The "cash back rewards" aren't enough to cover our negative balance.....in fact, it's going to take several months to get enough cash back to get us in the black for even ONE month... I dunno...my hubby is looking pretty hard at a new job, but we're afraid that the cost of living is going to be enough higher that we will still be in the same predicament.

We've been seriously considering bankruptcy for several months, and I'm beginning to think we're going to have to do it. Ruining our credit isn't exactly our idea of fun, but we're living on bare minimums now and still not making it....heck, none of our creditors will even get their debt paid by the sale of our stuff, because we don't own hardly anything....ALL of our furniture is on loan, we get to keep $X worth of appliances which covers every appliance that isn't on loan from family, we get to keep our clothes (which aren't worth selling anyway, we don't have anything nice) the only jewelry I have that isn't costume jewelry is my wedding ring, which they can't have (again, $X worth of it we get to keep). Other than that, all we have is food. My husband's pickup is in his dad's name so they can't take it (not that it's worth anything either) and my car is already owned by a creditor.

More and more, I'm thinking it's what we need to do..... Does anyone have experience with it? How hard is it to rebuild your credit? The dr. bills are what put us so far under--they'll be eradicated with the bankruptcy, so after we get rid of those, we'll be able to pay our bills and everything again--even have a bit left over to put in savings. Anyway, ideas about what to do are requested....

[~Candy~]

Have you taken the time to actually contact your creditors to see if they will work with you?

BTW, after having stuff discharged by bankruptcy, you'll have credit card offers in the mail......lots of them.

[Farmgirl22]

Originally Posted by AcaCandy

Have you taken the time to actually contact your creditors to see if they will work with you?

BTW, after having stuff discharged by bankruptcy, you'll have credit card offers in the mail......lots of them.

On everything we are already paying the bare minimums allowed.....if I pay less than the $100/bill/month on the dr. bills (about $400 monthly) then they threaten to send it to collections--they won't consider lowering my payment...I've tried. I'm pretty sure that in KS as long as I pay something even if it's only $5/bill, they can't do anything, but it's not information that I've been able to get easily, and I'm still not confident enough to run the risk.

Like I said, on everything else we are paying the absolute lowest payment we can....I've talked to all of our creditors before and gotten it lowered, but recently they won't do anymore. Especially on my car loan....my car isn't worth what we have left to pay on it, and they won't refinance us on it. I don't know....I didn't realize how much money we owe on credit cards from just trying to pay the bills--not until we did the budget anyway. I just don't understand....we've spent my hubby's paychecks wisely--there isn't anything frivolous on there (not really even any entertainment stuff--about $5/month since we don't do anything most months)....but we are accumulating more debt and not getting things paid off. The only thing we have to give up is the internet--but since I am taking online classes, I can't give it up without either a) spending more money to drive 30 miles to the nearest town with a public library, or b) quitting school and paying back 3x what I pay for internet service in student loans......so really, not even that will help. I don't know, should I do that? When I'm within 2 years of being done and getting a decent paying job? I would if I thought it would really help, but I haven't been convinced it would yet.

I could buy the lower quality of food on some things I guess, but switching to foods that have higher nutrition (i.e. vitamin C) saved us on dr. bills ($25/visit + prescriptions) but I'm not sure that either way is more spend-thrifty than the other.

So after all that, yeah, I'm considering bankruptcy....I just wish we'd have known we could contest the insurance's "payment" (or lack thereof) BEFORE it was too late to do that. We had to dispute it within a year, and we didn't know until recently that we could have done that. So now we are stuck with it, but at least we'd know for next time--except there likely won't be a next time, since we're done having kids and I won't need any more surgeries for a while.....and hopefully not ever again.

[~Candy~]

Have you 'suggested' to them, the possibility of you filing bankruptcy? It's pretty much a no brainer for them to work with you and get lower payments, than to NOT work with you and get a big fat zero.

[Shadow Bea]

Originally Posted by AcaCandy

Have you 'suggested' to them, the possibility of you filing bankruptcy? It's pretty much a no brainer for them to work with you and get lower payments, than to NOT work with you and get a big fat zero.

Did I ever tell you I like you Candy

[~Candy~]

I used to be in the 'collection' agency business so, I've pretty much seen and heard it all

Plus, I've known a few people who have been through the process.

Good to see you Bea I haven't been keeping up with your health thread I hope all is going well.

[Gabriel]

Originally Posted by AcaCandy

Have you taken the time to actually contact your creditors to see if they will work with you?

This helped me clear up a good chunk of my debts.

Also, I now have 2 jobs. One to live on, and one to pay my debts off.


10 more months of this self slavery, and I will be almost done

And feel like a rich woman with all that freed up money

[Gabriel]

Originally Posted by Farmgirl22

On everything we are already paying the bare minimums allowed.....if I pay less than the $100/bill/month on the dr. bills (about $400 monthly) then they threaten to send it to collections--they won't consider lowering my payment...I've tried. I'm pretty sure that in KS as long as I pay something even if it's only $5/bill, they can't do anything, but it's not information that I've been able to get easily, and I'm still not confident enough to run the risk.

Like I said, on everything else we are paying the absolute lowest payment we can....I've talked to all of our creditors before and gotten it lowered, but recently they won't do anymore. Especially on my car loan....my car isn't worth what we have left to pay on it, and they won't refinance us on it. I don't know....I didn't realize how much money we owe on credit cards from just trying to pay the bills--not until we did the budget anyway. I just don't understand....we've spent my hubby's paychecks wisely--there isn't anything frivolous on there (not really even any entertainment stuff--about $5/month since we don't do anything most months)....but we are accumulating more debt and not getting things paid off. The only thing we have to give up is the internet--but since I am taking online classes, I can't give it up without either a) spending more money to drive 30 miles to the nearest town with a public library, or b) quitting school and paying back 3x what I pay for internet service in student loans......so really, not even that will help. I don't know, should I do that? When I'm within 2 years of being done and getting a decent paying job? I would if I thought it would really help, but I haven't been convinced it would yet.

I could buy the lower quality of food on some things I guess, but switching to foods that have higher nutrition (i.e. vitamin C) saved us on dr. bills ($25/visit + prescriptions) but I'm not sure that either way is more spend-thrifty than the other.

So after all that, yeah, I'm considering bankruptcy....I just wish we'd have known we could contest the insurance's "payment" (or lack thereof) BEFORE it was too late to do that. We had to dispute it within a year, and we didn't know until recently that we could have done that. So now we are stuck with it, but at least we'd know for next time--except there likely won't be a next time, since we're done having kids and I won't need any more surgeries for a while.....and hopefully not ever again.

One of the things about credit cards is they don't go down unless you pay way over the minimum every month. I started with the highest interest one, and paid huge chunks to get it paid all the way down. Then another.
Also, I had a few of my creditors work with me on like payment chunks to pay a loan off, and a credit card. They took all the interest off, and the total was like a little more than half of what I owed. I paid them once a month for three months. ($500 a month)
With the other cards, I paid double or a little more than double on the monthly payment, until the bigger stuff I mentioned was paid off.

To rebuild my credit, I have a savings account, and checking account. And I don't have revolving credit on my cards anymore. I am never late on any bills...ever....and never overdraft my bank account.
As my CC's get paid down, I will put into the savings account the money I use every month to pay my CC's off....that's roughly $500 a month.
Think about what I can save.
I had to get a second job to do this all, Gene wanted to help out, and I let him do other things, like buy my leather once in a while for my business.......but I try and cover all the bases with my income, and can usually.
Gene is very sick and won't be around much longer, and I have to be able to do it on my own. It relieves him a lot that he sees I can.

No matter what you decide to do, it is crucial to develope a plan

[jonasdatum]

Originally Posted by Farmgirl22

The "cash back rewards" aren't enough to cover our negative balance.....in fact, it's going to take several months to get enough cash back to get us in the black for even ONE month... I dunno...my hubby is looking pretty hard at a new job, but we're afraid that the cost of living is going to be enough higher that we will still be in the same predicament.

We've been seriously considering bankruptcy for several months, and I'm beginning to think we're going to have to do it. Ruining our credit isn't exactly our idea of fun, but we're living on bare minimums now and still not making it....heck, none of our creditors will even get their debt paid by the sale of our stuff, because we don't own hardly anything....ALL of our furniture is on loan, we get to keep $X worth of appliances which covers every appliance that isn't on loan from family, we get to keep our clothes (which aren't worth selling anyway, we don't have anything nice) the only jewelry I have that isn't costume jewelry is my wedding ring, which they can't have (again, $X worth of it we get to keep). Other than that, all we have is food. My husband's pickup is in his dad's name so they can't take it (not that it's worth anything either) and my car is already owned by a creditor.

More and more, I'm thinking it's what we need to do..... Does anyone have experience with it? How hard is it to rebuild your credit? The dr. bills are what put us so far under--they'll be eradicated with the bankruptcy, so after we get rid of those, we'll be able to pay our bills and everything again--even have a bit left over to put in savings. Anyway, ideas about what to do are requested....

I am gravely dismayed by your predicament. I wish you the best! Do what you must do what is in your best interest. Sacrifice, it sucks.

[hewee]

You got to do something Farmgirl22 and that is to get the creditors to work with you or your never get them paid off.

Got my rebate check for the year on my card for $93.30

[jonasdatum]

Originally Posted by hewee

You got to do something Farmgirl22 and that is to get the creditors to work with you or your never get them paid off.

Got my rebate check for the year on my card for $93.30

Congrats on the rebate check ! The creditors prefer people to be stuck paying off the debt for until death. Better yet earn all that extra intrest and the principle, yea they love that even more.

[Gabriel]

Originally Posted by jonasdatum

Congrats on the rebate check ! The creditors prefer people to be stuck paying off the debt for until death.

People get into trouble with them for a lot of reasons.
I too got really sick, and used them to live on....big mistake.

They will work with you (creditors that is....most of them), but you have to be honest at what you can afford each month. That's why I took a second job. Cause I couldn't do it with one.
Total, it has taken so far about two years to get to the point I'm at now. Maybe a little longer, I don't know, but if I keep on track, it will be behind me in another 10-12 months.
To be honest, I don't know what I would have done if I did the bankrupsy thing....mighta just ran them up (the CC's) again once the CC offers started back up.
Doing it this way for ME (no-one else) gives me the understanding how NOT and WHY not to do it again.

Valuable lesson.

CC companies are a business.

[Davec]

Originally Posted by AcaCandy

I used to be in the 'collection' agency business so, if they come after you with a rolled up newspaper and a squirt bottle, please tell them I said Hi.