Reply #117: A couple points here... [View All]

[TwixVoy]

When you have so much debt that a rate jack from 14% to 30% will send you completely under you NEVER make your payment the day before or the day it is due. You make it ASAP after the statement cuts just for this reason.

"Just got a call from the bank that has our car payment. It was due monday. Wife hasn't paid it yet."

If you can't make the car payment you are in over your head regardless of the rate jack.

"I'm so bummed. I've spent years reclaiming my credit. I was in the low 500's"

After that experience you should have learned to STAY AWAY from credit. Best advice for ANYONE.

The fact is your are going to go under again. No big deal. Chapter 7 it and STAY AWAY FROM CREDIT FROM NOW ON! It is DESIGNED to do this to you.

What you need to realize is that you don't need a nice car. You don't need a damn credit card. It is a freaking MIND GAME. Live with out it from now on. If you can't have the newest consumer toy then who gives a damn? Really? Make your life about other things.

Otherwise you will turn my age one day, look back, and ask your self why the hell you let your self believe the corporate bull shit and wasted your life on such shit.

If you can't make the payments don't. BIG DEAL! SCREW THEM! Leave the debt cycle the banks have kept you and millions of others in.