I hear what you are saying. I’m not trying to through any stones at anybody because I am not without sin. ($18,000 in debt). In my (my families) case, there was no external, uncontrollable events that caused us to rack up all that debt. I was responsible for every dime of that debt. I am a new husband and father. The biggest concept “I” have had to swallow is that “I am responsible for my actions”. With out that, I will never get out of the hole I’m in. (that applies to a lot of other parts of my life. Every night when I log to this groups e-mails, I hear of many people struggling with the same problems. One thing we all have in common is that we have the courage to say…”I’m in trouble and I need help” it takes a lot of courage to ask for help. I commend every one on this group and I get a lot of benefit from being a member. Apologies for any offense.
Maybe you are being to hard on yourself. I agree that we all need to be responsible for our own actions. And asking for help is very, very difficult. When the credit card co’s raise a persons interest rate to loan shark fees they are telling the debtor that they believe they are a high risk of defaulting. So what does a debtor do… they either pay the debt off in a timely manner and avoid paying as much loan shark interest plus this totally unfair “over the limit” fee that many times got added on because of the higher interest rate. If they can’t pay the creditor off in a timely manner they can end up being the credit cards co’s hostage.
It makes more sense to me to file bankruptcy and if anyone feels guilt about that , when they are back on track they can put money in a high interest paying savings account and repay the creditors listed on their bankruptcy with the money they have saved. When push comes to show, you need to take care of yourself and your family first. The credit card co’s are going to survive!