by Tricia
Hi there, and welcome to those stopping by from the editorial in Today’s New York Times that was spurred by the article from John Leland a few weeks ago titled, “Debtors Search for Discipline Through Blogs.”
I thought I would take a moment to welcome you and to repond to the Editorial.
My general feeling about my credit card debt is that we alone are responsible for it because we were living beyond our means. However, some of their practices (like the Editorial suggested) are downright shady. The universal default clause is a horrible practice and I am so glad that Citibank did away with it!
Our credit cards gave us plenty of rope to accumulate $37,000 worth of credit card debt with credit lines that were more than our yearly income! Again, I do take responsibility for our use, but if you think about some of the practices that credit card companies employ to keep you in debt and keep you paying interest…it is saddening to say the least.
I am one voice on this blog, but what I am finding out is that there are so many others out there struggling just as we are. I have learned that I am definitely not alone with our debt burden and prior financial mistakes. And that is what my blog is about – I am working to make things right and get our financial house in order.
I have a year’s worth of posting on here so feel free to browse around. A good place to start is by going to my archives on the right hand side of my blog.
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Thanks for stopping by 🙂
Trisha,
Well said!
best,
james
Will Rogers once said that advertising makes people spend money they don’t have on things they don’t need. When you look at all the things you got for your debt, was it worth it? Was there a time when you said “Do I really need that?”
I’m delighted that you are taking responsibility for your credit decisions. The marketers of credit need to take equal responsibility for the things they say and do. Here’s an example. Wells Fargo was a big supporter of the recent change to the bankruptcy laws, touted as making it harder for people to get away with not paying back their debts. The other day, though, I heard a Wells Fargo ad on a local rock radio station, tempting listeners with “oh, I dream of taking that vacation,” or “I dream of replacing that old pick-up with a new one,” then touting the advantages of a new home equity loan, complete with a “check book” that would allow you to just “write checks” against the home equity loan. They were encouraging irresponsible borrowing of the worst sort, yet were happy to go to Congress asking for a law to punish irresponsible borrowers. THAT is irresponsibility of the first order on the part of Wells Fargo. Where’s their mea culpa blog? When will they acknowledge their guilt? Or do we have different sets of moral rules for corporations lending money than we do for individuals borrowing money?
There’s some special secret Sale link on Amazon, EBay, etc. where you can find very good discounts:
http://bargains-hunter.blogspot.com/2007/10/how-to-find-bargains-at-amazons-secret.html
Bargains Hunter
I’ve seen discounts there as low as 75% off sticker Price.