Filed!!!!!!!!!!

[jojo]

It is maddening. I learned a long time ago that when you charge and don't pay it off that same month, you end up paying about three times as much for it, so I guess that does ring true. I should have paid better attention, because I thought I would be able to pay it off every month. So, the cycle begins. You charge, pay the interest, then use the card for other things you would normally pay cash for because if you hadn't made the original purchases, you wouldn't be paying all of that interest. We were in a DMP for a year but we were struggling then too and just made the ultimate decision to file. We haven't yet, but I don't know how we were making the payments before.

Credit cards are evil, plain and simple.

I have decided to file as a business decision just like all of these companies are. We as consumers aren't the only ones that make bad decisions. These freakin corporate bonuses are outrageous and only show how greedy corporate America has become, especially in these hard times.
Why does it seem ok society wise for corporations to file, but when individuals do it, it's almost like a sin?
I don't take the decision of bankruptcy lightly as I was also raised to be responsible. That is what has taken so long to file (mulling in my head for a couple of years now) because it has been years that it would have made sense to file and robbing Peter to pay Paul is no fun, but I didn't want to turn my shoulder to the responsibility of payback. We had awesome interest rates but fall into a place where you are late on the monthly payment and they come back and bite you big time. Many people live on the edge with affording everything between interest on the cc, car loan, mortgage, and paying cash for everything else, like we were, and one late payment can cause a snowball effect. Lesson learned. NEVER AGAIN!

I didn't want to file either, but I honestly don't know how I was even making it month to month. I also realized I would never get out of the whole I was in and would never be able to pay that money back - that decided it for me.]

[DownNotOut]

You know I see that sentiment a lot on the board and I totally 'get' why everyone (myself included) feel that way, mainly because we were taught growing up that we should be responsible. But you know what else? I'm done blaming me for this. Did I make some bad choices that got me in this mess, you betcha! Did Bank of America make some really bad choices too? yep again! So why is it I am having to go beg my case in front of the government just to get my debt erased and yet the government is handing out BILLIONS of dollars to Bank of America? I miss a payment and my rate goes to 29.9% yet Bank of America or Chase has financial problems and their CEO's walk away with million dollar bonuses???

Like I said, I am done blaming me. I will use this as a learning experience to not get in this mess again (something I doubt the banks are going to do) but I refuse to beat myself up over it anymore! I'm mad as hell and I'm not gonna take it anymore!

Ok, rant over, sorry for hijacking the thread

Here, here! Couldn't have said it better myself!

[browneyes]

It is maddening. I learned a long time ago that when you charge and don't pay it off that same month, you end up paying about three times as much for it, so I guess that does ring true. I should have paid better attention, because I thought I would be able to pay it off every month. So, the cycle begins. You charge, pay the interest, then use the card for other things you would normally pay cash for because if you hadn't made the original purchases, you wouldn't be paying all of that interest. We were in a DMP for a year but we were struggling then too and just made the ultimate decision to file. We haven't yet, but I don't know how we were making the payments before.

Credit cards are evil, plain and simple.

I have decided to file as a business decision just like all of these companies are. We as consumers aren't the only ones that make bad decisions. These freakin corporate bonuses are outrageous and only show how greedy corporate America has become, especially in these hard times.

I don't take the decision of bankruptcy lightly as I was also raised to be responsible. That is what has taken so long to file (mulling in my head for a couple of years now) because it has been years that it would have made sense to file and robbing Peter to pay Paul is no fun, but I didn't want to turn my shoulder to the responsibility of payback. We had awesome interest rates but fall into a place where you are late on the monthly payment and they come back and bite you big time. Many people live on the edge with affording everything between interest on the cc, car loan, mortgage, and paying cash for everything else, like we were, and one late payment can cause a snowball effect. Lesson learned. NEVER AGAIN!

[DeadManCrawling]

You know I see that sentiment a lot on the board and I totally 'get' why everyone (myself included) feel that way, mainly because we were taught growing up that we should be responsible.

Been there, done this.

When we quit paying, 2 and a half years ago, I added up total purchases and total amount paid.

We had paid something like 180k interest on purchases of 60k or so, if memory serves. Whatever accounting method allows for this sort of debacle is the equivalent of raping and pillaging our homes. And I do not speak lightly of rape, I truly feel that strong. It should be illegal.

Over the same period, I have had a mortgage for 400k. I have paid nearly 600k in interest.

Yes, I WAS stupid, no question, but even stupid people should have some protection, I think!

[SocalBroke]

Unbelievable.... I'm starting to realize the cc companies are ruthless. They are the reason most of us are in this mess. Yes, I know I hold the majority of the responsibility but still. My last straw was when I went over my credit limit by $6.00 back in December (the first time ever...never been late on a payment either). My interest rate went from 9.99 to 29.99. They wouldn't budget on the rate, either, when I called them. They haven't gotten a dime from me since.

You know I see that sentiment a lot on the board and I totally 'get' why everyone (myself included) feel that way, mainly because we were taught growing up that we should be responsible. But you know what else? I'm done blaming me for this. Did I make some bad choices that got me in this mess, you betcha! Did Bank of America make some really bad choices too? yep again! So why is it I am having to go beg my case in front of the government just to get my debt erased and yet the government is handing out BILLIONS of dollars to Bank of America? I miss a payment and my rate goes to 29.9% yet Bank of America or Chase has financial problems and their CEO's walk away with million dollar bonuses???

Like I said, I am done blaming me. I will use this as a learning experience to not get in this mess again (something I doubt the banks are going to do) but I refuse to beat myself up over it anymore! I'm mad as hell and I'm not gonna take it anymore!

Ok, rant over, sorry for hijacking the thread

[midnight]

In my experience Citibank was the WORST of them all.

[mamaof2]

jojo...i agree....before i finally said ok to filing, i tried calling all 21 credit cards to work something out with them, and they didnt want to do anything, i think they like when people file for bk, so they can write it off at the end of the year (or something!)

[broke54]

341 - scared

filed April 29, 341 scheduled 6/15. I'll be glad when it's over!

[jojo]

Honestly, I think if these companies were more flexible, there would be fewer bankruptcys.

[georgiamommy]

Citi did the same thing to me. I was paying around $210/month and I missed a payment and then it went to $900/month. I called them to say that there was no way I could make this payment and they basically told me there was nothing they could do for me. At that point, I knew I would eventually have to file bankrupt.

[mamaof2]

Thanks everyone......also, i was going to say that on the statement where they usually break everything down by finance chrgs, and purchases and such...nothing is broken down-----it only shows a finance charge of 294.00, so its really goofy! I will try to keep you all posted as things come up, trustee meeting is 29 days away (yep...counting down the days)

[cantwait]

mamaof2,
I hope you will keep a post of how everything goes for you. The reason I am saying that is because our situations seem very similar. We have missed our first 2 payment just in the last 2 weeks. We are probably going to file in July. We have used a few cards for gas/groceries in the past couple of weeks but added up it's less than $150 a card. I'm just wondering if that will matter. Good luck with everything.

[Floridagail]

The year 2000 I had a balance of 7000 with Cap ONe , I had paid off a few times last time they immediatly sent me a Blank ck zero interest. So I guess they did not want paid off. So I trnsferred bal and paid off another card. I tried debt consolidation waste of time, 2 yrs of 800 month, all cards closed. paying 45.00 to debt company. Anyway paid This credit card for almost 6 yrs now getting nowhere. Anyway I filed Jan 2009 I stopped paying in June 2006 I believe and when I had my attorney ck credit report, it was up to 15,000. Unbeieveable. I paid them 200 x 6 yrs and I still owe them 15000 for a 7000 debt. I dont feel sorry for them anymore.

[jojo]

My credit cards cut my available balances (citibank - not due to anything I had done) then of course when you pay the minimum as I was, you are then over the limit, getting hit with all sorts of fees and your interest skyrockets. Also had a problem with B/A not getting payments I had made, etc. and again, getting 30% interest.
That's when I realized I was fighting a losing battle and decided upon bankruptcy.
I had never even contemplated it prior to this. I know I shoulder some blame, but I feel they forced me into this.

[tkharvey]

Unbelievable.... I'm starting to realize the cc companies are ruthless. They are the reason most of us are in this mess. Yes, I know I hold the majority of the responsibility but still. My last straw was when I went over my credit limit by $6.00 back in December (the first time ever...never been late on a payment either). My interest rate went from 9.99 to 29.99. They wouldn't budget on the rate, either, when I called them. They haven't gotten a dime from me since.