Posted on 09/22/2012 4:32:36 AM PDT by SoFloFreeper
Jerry Bailey, a minister in Jackson, Mich., says he feels as if he has been given back his life. It's a dramatic statement -- and the story behind these words is, indeed, pretty extraordinary...
It was 2005, and the couple had rung up approximately $92,000 in charges on their credit cards. At one point, they had 17 of them.
(Excerpt) Read more at m.aol.com ...
Ah. Thanks.
With the money supply being expanded at the rate it is, being in debt makes sense. I can’t bring myself to do it, but it makes sense.
“After getting rid of all credit but the home mortgage, we got rid of that too, $90,000 in a year and a half. Was layed off three fourths of the way, but still did it. Used no credit counseling service, just listened to Dave Ramsey.”
NICE JOB!!! The whole key is to look at the small expenses and cut them out. It’s not that hard, and you wake up the next morning with less debt, but still feel human (i.e., most of those expenses simply aren’t needed).
It amazes me how many of my co-workers buy Starbucks a couple of times, some snacks, and then go to lunch. They’re out $20 per day, out of pocket, for stuff that would otherwise add up to $2 per day if spent more carefully (i.e., supermarkets, or especially Sam’s Club).
By the way, that $20 per day is about $5,000 per year. If the misses does the same, then $10k per year (i.e., in 3 years, at most, you could buy a new car with cash).
They apparently couldn’t qualify for a loan. Besides, they needed to learn a lesson.
If they’d refinanced and paid off 17 credit cards, they would’ve then had a much larger mortgage PLUS 17 credit cards with newly available zero balances. And, the fun times would’ve started all over again.
Don’t make credit card payments...lose the card and your credit score.
Don’t make house payments...lose your house.
The United States is an awesome place. I have not finished a degree, yet am able to be very productive.
God Bless all of you & yours.
Really not so hard to do it you take out another 20 credit cards.
You might want to go back and read my whole post. I am not advocating cashing out your equity and going on a world cruise. But, what the hell do I know? I have never been bankrupt, nor have I ever ruined some poor suckers fleet of trucks.
I have no idea what you’re talking about.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.