... I found this link about credit cards on a site I visit frequently. After reading it, I immediately checked my phone and utility bills, making certain they were up to date. Visit the link and, I guarantee, you will too!
... a couple of weeks ago, I was watching an episode of Boston Legal and lawyer Alan Shore (James Spader) agreed to represent his legal assistant in a case against a credit card company. Shore was at the top of his game when he told a grinning, smarmy credit card company advocate, "We also have saying in Massachuesett's: maybe you'll get horribly sick and die." While millions of people probably wanted to say the same thing to those advocates, especially after receiving their January statement, there is a more practical and productive solution to the increased minimum payments and hiked interest rates. The first step is cutting up the cards. The second step is calling the credit card company, telling them to stop accepting new charges on the account. The third step is making a sound plan to rid yourself of the debt.
... Early on, before these increases became a reality, Michelle Singletary, in an NPR interview, provided some of the soundest and most useful financial advice I've ever heard. Speaking about the importance and wisdom of reducing consumer debt (ie: credit card debt),Singletary provided a strategy for doing it, with links to websites to assist with the implementation of this strategy. I listened carefully as Michelle spoke, taking notes and jotting down the website URL's in a notebook. Later on, I visited those, taking a lot of notes again. Sharpening a #2 pencil, I put fresh batteries in the calculator and gathered together my notes, credit card statements, receipts, and paycheck stubs and began to put my plan together. It was implemented with the very next round of bills.
... involving a lot of hard work and sacrifice, the plan allowed me to pay off three credit card balances and a car loan while substantially lowering the amount owed on a fourth card. I was able to minimalize the effect and impact of the increases that came in January by being proactive. The final balance will be paid off shortly and the money I earn will truly be mine. This link will help anyone get started. It's never too late. And Michelle Singletary is now on my Christmas Card list !!
( listen to Michelle Singletary every Tuesday on NPR's "Day To Day" )