Welcome Readers from the New York Times!

Welcome everyone stopping by from the New York Times article! So glad you are stopping by

Please click on “Read more” for the rest of the welcome

A few tidbits about my site:

1.) I post monthly where my money went, and share what we are doing to try to keep our spending down.

2.) I post monthly how much we make. We currently make around $40,000/year, but I am always trying to bring in more income.

3.) I post almost every day and usually it is personal finance related. I’m learning about things daily and sharing that information with you.

4.) You can bookmark this site to keep updated, or if you have a feed reader you can Subcribe to my Full Feed. If you have an email address, you can also Subscribe via Email. Every day that I post you will receive one email with the posts that I wrote for that day.

5.) I love comments and I love the interaction I have with my readers. Don’t be shy, feel free to leave a comment or contact me at bloggingawaydebt [at] yahoo [dot] com.

As for where to start, here’s something I wrote that highlights 2006.

A Reflective Look Back at 2006 – Goodbye to $13,000 of our Debt

Thank you for stopping by, and feel free to stick around for a while

P.S.
Sorry if my site is slow! I noticed while trying to write this welcome things are running very slow, probably because of many people visiting at one time. It normally isn’t this way, and I thank you for your patience.

Posted by Tricia on February 17, 2007 at 2:39 PM in About Me | 46 Comments »
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Nico responded:
Posted: February 17th, 2007 at 2:59 pm
Tricia,

This is the best use of a blog I’ve ever seen!

Quick question for you: how is it that your mortgage payment is so low?

Thanks!
Tricia responded:
Posted: February 17th, 2007 at 3:17 pm
Nico – Where I live, housing costs are very low and we purchased our home for less than $36,000. Our mortgage payments include amounts put into escrow to pay our house insurance and property taxes. Thanks for stopping by
gabe responded:
Posted: February 17th, 2007 at 3:45 pm
I’m confused what’s the rate on your credit card, what’s the rate on your mortgage? Don’t you have home equity in your property so you can consolidate your credit card payments into one loan and pay a lower rate?
Cecilia responded:
Posted: February 17th, 2007 at 3:47 pm
I just wanted to say congrats on getting profiled in the NY Times! That’s totally awesome!
rod ruger responded:
Posted: February 17th, 2007 at 4:09 pm
if you have a lot of credit card debt, you should know that it is unsecured debt. my advice is to file a bankruptcy petition in your state without an attorney. you can download the required dcouments from the net. in the long run, you will not harm your credit status, although everyone will tell you that you will. the people who warn you not to declare b.r. are the ones who want you to pay off your credit card. do not listen to them. start over with a clean slate, rebuild your credit, quit worrying.
Heather responded:
Posted: February 17th, 2007 at 5:33 pm
Congrats! You are doing a great job! [EDIT LINK] has some more ideas to help you…I got so sick of people complaining about money problems and then not doing anything about it that I got sick of myself always being sick of them, LOL! So I started to write about it to help others. It’s nice to see someone who gets it though, all it takes is to just decide to get out of debt! I’ll be checking in on you! Good Luck, although I can see you don’t need it! Your well on your way! PS. Don’t file a BK like the guy above says, you will feel so much better paying it all off. You are already so close. BK can be a good option for those who really need it, but you are doing so well already!
Poorer Than You responded:
Posted: February 17th, 2007 at 5:41 pm
Congrats on the article! I actually came here from there, even though I’m a regular reader. I found my way to the article because suddenly my site was attracting a lot of traffic from the New York Times… turns out I was mentioned in the article as well! I was glad to see you as the bulk of the article – you’re one of my favorite bloggers.

In response to the other comments – I don’t think bankruptcy is a good idea. It’s running away from your own debts. I’ve seen family members file for bankruptcy, and it didn’t help them at all – ten years later, they’re in the same hole.

I also don’t recommend taking your home equity and turning your unsecured credit card debt into secured credit card debt. But I bet you already knew everything I’m saying here, Tricia – you’re a smart cookie
Dan responded:
Posted: February 17th, 2007 at 5:59 pm
Hi
Think you are doing great. I have done BR and if your thinking about it check it out very thoughly because the laws have changed. I am pretty sure they can take your house now even for unsecured debt. Get a lawyer its worth it.
That was not the reason I am writing Instead of the patch try Chantix. These are new you get them from your doctor, and they have proved to be way cheaper then the patch. 30 days since my last camel. They have been a great help to me.
Dan
Matt responded:
Posted: February 17th, 2007 at 6:13 pm
Tricia-

Great job on reducing your debt! How did you come by all of this debt. Was it largely spending for this that were within your control or out of necessity due to financial difficulty?

Matt
Rick responded:
Posted: February 17th, 2007 at 6:20 pm
First time I “blogged”… must say that it’s admirable how you have changed. It is a very hard thing to realize that our importance is not related to some “thing”. The advertisers and financial community are not going to help, in fact they are the instigators of much of the problem. Thanks for the honesty and positive example you’ve set.
edmund responded:
Posted: February 17th, 2007 at 7:25 pm
Debtors Anonymous works…try it. This is all about much more than money. You may think you have this under control but then you’ll start debting again.
Tricia responded:
Posted: February 17th, 2007 at 7:41 pm
gabe – here’s a post detailing the interest rates on my credit cards. My mortgage did not include a down payment so I do not have much equity in my home at all. What I am doing is trying to do balance transfers to keep my interest rates down.

Cecilia – thanks!

rod – bankruptcy may be an option for some, but we are doing well right now. I really want to pay this off and learn from the mistakes we have made. I want to make it right, and that means paying it all off.

Poorer Thank You – congrats for your mention as well and thanks for saying I’m a smart cookie

Dan – actually, bankruptcy has never crossed our minds. I’m sure if things didn’t start improving we may have had to think about it, but thankfully things are going well now. We are making more money and spending less than we earn.

Matt – our debt is a combination of things. Some of it has been from financial difficulty. For a long period of time both my husband and I were working near minimum wage jobs. But that was our doing because we chose to live where we live. Then there were periods where one of us was out of work. I want to note that one of those times was on purpose with trying to make things better and it didn’t happen as quickly as we hoped. I’ve thought about it a lot, and what it boils down to is that we were living above our means. Even when we weren’t making much, we still spent like we were making more. If we didn’t do that, we wouldn’t have been so much in debt.

Rick – wow, thank you for your nice words

Edmund – i just checked the Debtors Anonymous website, and it doesn’t look like there are any meetings near me. There is a section on starting a DA meeting and perhaps that is something to think about.
edmund responded:
Posted: February 17th, 2007 at 8:14 pm
Nicotine anonymous works too!

http://www.nicotine-anonymous.org/
moneysmartlife responded:
Posted: February 17th, 2007 at 8:58 pm
So it all started with a candy bar…. It’s sad that so many of us get hooked on debt while we’re young college students.

Hopefully your story will get through to a few people just getting started on their own and help them avoid being lured in by those signup freebies.
Kristina responded:
Posted: February 18th, 2007 at 12:55 am
Rod,
I am profoundly unimpressed by you. Casually filing bankruptcy and only being concerned about how it affects your credit score shows that you are irresponsible, do not keep your word (to pay back creditors), and that you are not willing to be mature and learn lessons that will keep you out of debt in the future.

Unlike you, Tricia is taking the responsible route. She and her husband created this mess, and they are cleaning it up. Though it’s tough, they are able to pay back the debt and they are taking the more mature but more difficult route (unlike you). They are not liars – they promised to pay money when they borrowed it, and they are doing so. Tricia and her husband are learning new behaviors and life lessons that will allow them to remain out of debt forever and to have financial prosperity. You, on the other hand, will probably go right back into debt and live near the poverty level forever.

Good job, Tricia! You are learning a new, mature, and responsible way to live and you are teaching your child healthy, life-long habits.
Basil responded:
Posted: February 18th, 2007 at 1:45 am
Congrats on the article, Tricia!

Yours was the website that really got us serious about dealing with our debt day to day. New readers: this is a great blog, an inspiring blog. Come back often!
Elizabeth responded:
Posted: February 18th, 2007 at 8:57 am
Tricia,

I find this blog fascinating. I have just lost my job after 22 years of steady employment, and while looking hard for a full-time job (and getting some freelance work in the meantime) I am paying A LOT of attention to what I spend and where I can cut right now.

My questions are, do you have health insurance? And if not, what do you have listed under medical? Also, would your husband consider temporary work while he looks for a job? I am considering the same thing and I’m curious if others do.

And a comment: you’ve gotten me thinking about creating my own blog as a journal of unemployment. It might keep me honest about looking for work, other things I say I’m
going to do with my time, how I spend my money, etc.
Erin responded:
Posted: February 18th, 2007 at 9:28 am
Hi! Congrats on the article! It ran in our city’s newspaper this morning, the Milwaukee Journal Sentinel. I had to check out your blog right away since my goal over the next couple years is to eliminate the $7,000+ credit card debt I accumulated through college – and I could use all the advice I can get! I look forward to becoming a regular reader!!
Brian responded:
Posted: February 18th, 2007 at 9:49 am
Hi, I just read the great story in the New York Times and I would like to share a few thoughts. I was in the hole for 71,000 dollars three years ago because of a gambling problem. I had a home equity loan of 25,000, a 401K loan for 15,000 and the remaining balance on high interest credit cards.

I kept on getting zero percent introductory rate credit cards then then requesting $5,000 balance transfers to the new cards. Lastly I payed the cards off without being late. I am debt free today and saving money.

Life is less stressful and now I concentrate on making money. Also my cards are being cancelled because of inactivity. You can do it
jsdoorman responded:
Posted: February 18th, 2007 at 9:51 am
I am a doorman in New York City and I am in credit card debt myself, from irresponsible spending habits. I took on a part time job just to help me bring down my debt. And I am finally on the right track. And now that I found your blog through the NYT I have the support that I need to continue on this path and will be debt free in two years.
Thank You
Jsdoorman
http://www.doormaninthecity.blogspot.com
Craig responded:
Posted: February 18th, 2007 at 9:57 am
I did not realized that this type of site exsists until i read the NYT’s today. I kniow people who are 100.000 in debt and if God forbid one loses his or her job these folks will behind the eight ball real soon.
Andrew responded:
Posted: February 18th, 2007 at 10:43 am
I came across this on the New York Times and was curious about your CC interest rates as well. I followed the link and was relieved that there are $0 balances on the high rate cards. But my question is, do you still have these cards or have you cut them up?

I read another one of these and noticed that someone took money from her 401K, which is a HUGE mistake, and I hope you haven’t done that. My advice is, if you haven’t done so already, is to open a ROTH IRA. It includes post-tax income (i.e. you’ve already paid the income/local taxes) and when you liquidate it after 20-30 years, you pay a fee but not an income tax, because you’ve already paid it. What people don’t realize is that when you take out money from a 401K, you have to pay a local income tax, which lessens the amount you ultimately receive.

As to the car, if you are in a jurisdiction where your car counts as part of your annual property taxes, you’d probably be better off selling it and lessening your obligation to your state and/or city. I know it’s inconvenient not to have one, but if you can get by without one, it’ll save you money.

Good luck with all this.
Tom responded:
Posted: February 18th, 2007 at 11:35 am
I am also trying to reduce my debt. I have gone from $17000.00 down to $1900.00 in 8 mos. I owe most of this to a book called The Total Money Makeover. By Dave Ramsey This book isn’t a get rich quick book. Its about hard work and cutting up your credit cards. His web site is daveramsey.com
Danny responded:
Posted: February 18th, 2007 at 11:51 am
Couldn’t agree more with your thoughts Kristina! Its absolutely irresponsible to just declare bankruptcy for sh*ts and giggles. Tricia, you are to be commended for your attempts to pay your way out of debt. As a health management student, its the ideals of Rod and others with similar ideologies that bankruptcy is a get out of debt free card, keeping in mind no bearings of the consequences to their own credit and the bearings on the institutions whose debts disappear. Its bankruptcy’s resulting from medical bills which continue to drive up health care costs for all.

But, back on topic, again, nice website, and best of luck to you.
egregious responded:
Posted: February 18th, 2007 at 12:05 pm
You go girl! I think you are very brave. I blog about mental illness and politics which can get a little personal as well.

Interesting, that it’s easier to talk to strangers on some topics?
Louis-Philippe responded:
Posted: February 18th, 2007 at 12:11 pm
Good Morning, Tricia

I’m a 23 year old Canadian college student who is slowly but surely moving to the US. I eat and sleep finance and investment articles and the NYT/IHT feature about debt blogs was quite a revelation. I am wholeheartedly surprised of the number of people doing this and support the initiative. People like you make up for the trash on the internet. Keep it up.

Now…I see you mention Quicken. To give you an idea of how tight I can become with my monies (ha, I love writing that), I used to jot down all my transactions in the software as well…when I was 13. But the catch with Quicken is that I never stuck to the idea very well – I would not record small cash transactions, etc… and eventually my spending reports wouldn’t add up.

So how do you track things like cash withdrawals from an ATM? Do you make an entry as a cash transfer from your bank to pocket change? How about your spending categories? Have you posted an entry showing all of your “spending” categories?

Thank you!
Folsom responded:
Posted: February 18th, 2007 at 2:41 pm
Congrats on you NYT article. I found your artile and just wondered how can you get in that mucg debt with a CC? Just stop spending, am I missing something?
Medicated Money responded:
Posted: February 18th, 2007 at 3:09 pm
Tricia,

Congrats on the mention in the Times! You have been doing a great job with your debt reduction and your quality posts are second to none!

Keep up the good work, look forward to reading more, and congrats again,

From one seriously-in-debt couple,

The Medicated’s
Rob responded:
Posted: February 18th, 2007 at 3:38 pm
Great comment Kristina, I could not agree more. Do not declare bankrupcy Tricia, just keep doing what you’ve been doing.
Prince of Thrift responded:
Posted: February 18th, 2007 at 5:08 pm
ditto Kristina…I was thinking of saying the same thing to Rod.

Congratulations Tricia, on the mention in the NY Tims. The New York papers sem to do the best job profiling various PF bloggers and others in our situations. Most of the other papers around the country either ignore or “don’t know how to write” about such an important topic.
karl responded:
Posted: February 18th, 2007 at 7:34 pm
YOU CAN GET OUT OF DEBT!!

I had thousands of dollars (more than $20,000 in credit cards & $35,000 student loans) in debt. After the divorce I got all the credit card debt, she got all the assets.

One year I worked for the credit card company only, sending every spare dollar to pay down that debt. It took a while but I paid every dollar off with no bankruptcy and am now 100% debt free!!!

Credit cards were helpful to me for some challenges and I did charge wedding and the office goods for my small business on credit card, but now I would really have to think twice about that because of the current credit card rates and fees.

Hope you all get out of debt real soon.
Red responded:
Posted: February 18th, 2007 at 8:21 pm
I applaud your discipline and honesty. Our country would be a much better place if more people took such a hard, honest look at themselves and worked as hard as you have to remedy their situations. However, I have an important observation that I have not yet seen addressed, except by a prior post suggesting Debtors Anonymous.

A few years ago, NPR did a program about all of those credit card companies handing out credit on college campuses. The host, guests and callers were all quick to criticize the credit card companies, but all failed to mention the larger problem here…an entire generation of kids who feel the NEED to spend $20,000 in four years on “stuff”.

When I was in college, my parents gave me their creidt card, with (more or less) the instructions that should I ever happen to be stranded in the middle of the desert in July with four flat ties and I hadn’t eaten in 3 days, I was “allowed” to use this card – for tires and food. Otherwise, I knew I had to budget wisely and make sure I could pay all of my bills with the money that was deposited in my account for living expenses. NOT for new shoes for a party or those really cool new sunglasses I really wanted or a new ipod or every new CD that was released.

What no one is asking is WHY is it that we have raised an entire generation of kids who feel the NEED to BUY to the point of crisis???

Why is it that we have a younger generation who feels they NEED all of these material things in order to feel happy and fullfilled??

Of course, we have based our entire economy on the buying of goods, and we have raised these young people on television advertising, which serves only to make people feel deprived and deficient if they don’t happen to posses whatever it is that’s being sold. We’re therefore left with a generation of American’s who believe they can fill any void or less than desireable feeling they may be having at any given moment with a purchase.

I am a 40 year old mother of two children and I see this unfortunate pattern everyday in the parents I live among who continue to believe that they can find happiness in a shopping bag. What astounds me is that year after year when that empty feeling is still there, even after they’ve aquired everything they were CERTAIN would make the difference in their lives… no one ever wakes up and says, “OK, I was sure these last five purchses were going to be the golden ticket to a happier me, but it didn’t work…maybe I need to take a different approach. Maybe spending and buying isn’t the answer”. No. I watch them wake up the following day and declare that if ONLY they had a new big screen TV or that new Coach bag for spring…they won’t need anything else…until next week.

What’s even worse is that I also see them passing this on to their children. I have literally heard parents saying that they fully intend to buy thier children “everything that my parents never bought me”. I actually had one Mother tell me that she fully intended to give her children (quote) “The perfect childhood” by buying them anything they wanted. This is tragic to me. These children are going to grow up with the same lie that shopping and aquiring things can make you “happy”.

I worked as an art director in children’s programming for several years and decided long ago that if I ever had children, I would never allow them to watch commercial TV, and we don’t. They are now 4 and 7 and I have the only two kids I know who can walk into a toy store and tell their grandparents “No thanks Grandma, I don’t really need that so why would we want to buy it?” We watch DVD’s, but they have never been exposed to all of the marketing aimed at creating a void in my children to make them believe they have to have what’s being sold to them.

I don’t think we’re ever going to overcome this crisis of record debt as a country until we begin to raise our kids with a healthier sense of “self” not based on corporate America’s bottom line.

By the way…I used to use Quicken and I LOVED it. I was able to track ALL of our spending (even cash withdrawls) by entering every single receipt we received for every purchase, large or small. I also created “catagories” such as “Halloween” or “Thanksgiving” or “Dog”, so I could see exactly how much was going to these things. I was horrified one year when I saw that it had cost us over $500 to host Thanksgiving dinner for 5 people, my husband, myself and our parents. It had never occurred to me that this one day could be taking such a bite!

I happen to put ALL purchases on the ONLY credit card we have, (which is paid off in full every single month) so that I can earn “points” for free gift cards. I have earned free toasters, gifts for weddings, birthdays and Christmas presents, an ipod shuffle for myself and any number of home improvement items for out home this way. This ONLY works to our benefit however, because we do pay off our balance in full every single month.

I once had a credit card company tell me that I was the very WORST kind of customer they had…I earned tons of points and I’ve never paid a dime of interest.

Sorry for the loooong post! I wish you the very best and I will continue to check in to cheer you on as I have time!
Marty responded:
Posted: February 18th, 2007 at 8:30 pm
Hi:
Rather than everyone slaving away trying to pay off usurious interest rates on credit card bills, wouldn’t it be far more effective if we all — millions of us — simply stopped paying down these cards until CC companies were forced to lower their rates to a fairer, more humane number?

I unerstand that people are protective of their credit ratings, but many people have very poor ratings anyway and have nothing to lose – except the chain around their ankles – by simply not paying until the rates go down.

If millions of us did this in unison for, say, a six month period, then what could the credit card companies do?

It’s an odd way to look at things, but ask yourself this: if you have $20,000 of someone else’s money, then who really has the power in that relationship?

I would suggest commencing any “Don’t Pay” period on January 1, 2008, just when those Christmas bills to come rolling in…

What have you got to lose..?
Red responded:
Posted: February 18th, 2007 at 8:42 pm
Very interesting idea Marty. I have another one…how about if everyone REFUSED to OPEN a credit card account at their obscene rates? When they tell you that your rate is going to be 26%, you laugh really loudly and politely say “call me when you’ve lowered those rates. Until then, no thanks.”

I actually call my credit card company every time I see they’ve SECRETLY raised my rates again and ASK for a lower rate! Once I had to call back 5 times and spoke with 5 different Reps until I finally got someone who accomated me and gave me a lower rate. Even though I have never paid any interest on this account, I always figured that should i have an emergency situation one day, I would already have made sure I had a lower rate in place. I argued that I was an “excellent” customer because I’d had my account for 15 years, had never been late with a payment, and paid my bills in full. This was the time I was told I was the worst kind of customer.

I still believe we can’t stop people from spending until we address why they feel they need to spend.
Michael responded:
Posted: February 18th, 2007 at 10:09 pm
To those of you finding Tricia via the NYT, you’ve found a great blog. Tricia is giving all of us a tremendous example to follow.

I’d like to also take this opportunity to encourage others to blog about their finances — both good and bad — and join those of us who are discovering the great value in “blogging accountability.”
Sick Day Today : Blogging Away Debt responded:
Posted: February 18th, 2007 at 10:20 pm
[...] Welcome Readers from the New York Times! (35)Should You Participate in Your Company’s 401(k) Plan or Pay off Debt (31)My Husband is Losing His Job (28)Cutting Expenses Part #1: Utilities (28)Book Giveaway Here at Blogging Away Debt! (25)Want to Start Using Quicken? Need a Copy? (25)My Progress on Becoming Debt-Free (20)Why I’ve Been Quiet Lately (20)Oh…Sludge! (19)$12,000 Down…$25,000 Yet to Go (19) [...]
Fascist Nation responded:
Posted: February 19th, 2007 at 12:14 am
In the early eighties, I has a credit card debt of over $12,000 at 22% interest and an income of about $7 an hour.

Life sucked. I transferred all of my credit card debts onto a single card. Destroyed the rest. Vowed not to charge anymore. And started paying it down. Did I mention life sucked. There were times when I couldn’t make minimum payments, or even just an interest payment.

It took me two and a half years to get that paid off. But I did. And then I marveled at how much money I seemed to suddenly have. I had learned how to live not only within my means, but froogaly and I realized how much of my labor had been going to pay off interest.

I vowed never to have more than one credit card, and to pay any bill off monthly. And I have.

Best of luck to all. It can be done. But it isn’t pleasant. But it beats the calls from the collectors.
wm voelker responded:
Posted: February 19th, 2007 at 5:45 am
b r will increasingly become a bad idea as it will affect things like getting an apartment and utilities and hired for a job

this will exacerbate as the coming depression picks up

already firms aren’t hiring smokers in some places
Donna responded:
Posted: February 19th, 2007 at 2:22 pm
Wow Tricia. I left for a trip with no Internet access and you became a celebrity. :O)

Anyway, Congratulations and hope you have time to read all the new posts you will be getting.
M. responded:
Posted: February 19th, 2007 at 2:57 pm
Great blog. I just started a PF blog in December and am thrilled with the amazing things people are doing. I too started with a credit card in college and it was the worst thing that ever happened to me. Our goal is to pay of $20,000 of our debt this year. It’s hard; it’s like putting your wallet on a diet. Good luck to you, though — and for the record, I agree with keeping your 401K, disagree with declaring bankruptcy, and am impressed that your mortgage is so low. Wow!
misty responded:
Posted: February 20th, 2007 at 9:42 pm
Saw your article in the times. I think this is great. I am committed to getting rid of my debt. 14,615 in credit card debt, 28,999 in school loans and 15,000 in home equity so I have A LOT of work ahead of me. I will be following along.
Attila Girl responded:
Posted: February 22nd, 2007 at 1:56 am
How to keep track of cash:

1) put a card in your wallet, and record small purchases on that;
2) save receipts for everything, and enter them all into a notebook or spreadsheet at the end of the day;
3) get a checkbook register, and devote a single page in it to each expense category (using two of those tiny pages for food)–at the end of the week or month, just add up the columns;
4) get Quicken or Excel on your Palm Pilot;
5) keep a notebook in your purse;
6) keep a piece of paper with you that has columns for each category, and enough space to write in the amounts you spend each day.

There is a special budgeting book called “The Numbers” produced by Southern California Debtors Anonymous (socalda.org) that has a sample list of categories and subcategories. (There is a variation called “The Numbers: One Approach” that is similar, and produced by the national/international Debtors Anonymous organization.)
Blogging To Get Out Of Debt? Make Sure You Do It Right - Hate The Grind responded:
Posted: February 25th, 2007 at 10:56 pm
[...] blogs such as the one run by Tricia, who was actually featured in the NY Times, keep a running total of her debt for everyone to see and the progress she has [...]
Rose Carter responded:
Posted: March 24th, 2007 at 4:48 pm
Will like to know about you again briefly
rod ruger responded:
Posted: May 8th, 2007 at 7:18 pm
you folks, for the most part, adhere to the “american” ethic: pay your debts. this is in the face of incredible corporate CEO pay while layoffs of your friends occur. this is in the face of your government accumulating debt beyond your worst nightmares with no possibility of pay back. this is in the face of criminal come ons urging you to accumulate more debt and buy, buy, buy. even your president urges you to spend and spend while he gives the richest tax breaks. integrity is a wonderful concept, except when it is used to sucker the low and middle classes into transfering funds to the rich. the rich and your government know the formula for success: never use your own money and if all else fails, declare bankruptcy. most american corporations and our government are going to do just that when pension funds and social security collapse. that is why CEO pay is so high; they are grabbing while the getting is good. if you stop paying your debts, the greed heads will starve. too bad, huh?
Blogging Away Debt » Blog Archive » NYT Article: Couple Learn the High Price of Easy Credit responded:
Posted: May 19th, 2007 at 10:37 pm
[...] the New York Times has written another article about debt (he’s the one who interviewed me in February). This time, he visited the Moellerings from Ypsilani, [...]