Comments on: Update on the D-word – Getting out of debt

By: Mark W. "Extra Crispy" Schumann

Mark W. "Extra Crispy" Schumann — Mon, 22 Feb 2010 23:53:12 +0000

The worst they can do is say no.

Actually.

One of my friends does those go/no-go credit decisions for a certain unnamed Bank in America.

She says that sometimes customers who ask for a credit line increase are not only declined for the increase but also have their limits decreased due to excessive debt or bad payment history. In some cases their cards are even canceled.

I don’t know whether this ever happens in a balance-transfer scenario. Just saying that sometimes they really can do worse than say no.
Mark W. “Extra Crispy” Schumann´s last blog ..When to give up

By: Sally_K

Sally_K — Wed, 03 Feb 2010 17:29:27 +0000

Hi I think it is great you are sharing your debt to the world. Debt is something that can decrease with light and grow in darkness. I know you said your negotiating options are limited but have you tried calling each credit card company and talking to a human. The worst that can happen is they say no, but I’ve advised lots of people to do this and the credit card companies surprisingly have been willing to do some very helpful things like setting up a payment agreement and knocking off a bunch of interest. I always tell people to just make the call, it can’t hurt.

Congratulations on getting your debt down!
Sally_K´s last blog ..Squeeky Clean Social Media Winner

By: jennifer

jennifer — Mon, 01 Feb 2010 23:31:17 +0000

Sarah – Thanks! : ) Yay!

Gina – Yeah. I won’t bore you with the details, but my negotiating options are limited.However, I *am* looking into consolidation for the 34% card especially with the lowest 9% card – which would be awesome. Thanks for the cheers! I can’t WAIT to be below 2! : )

Vicky – Ya got me! I just updated the post and added the loan that was included in my total. Nice to see you here!

By: Vicky

Vicky — Sun, 31 Jan 2010 03:31:29 +0000

Hey Jennifer – well done. But am I missing something here – I added those 4 figures and got $23,121. Sounds way better too! Keep up the good work.

And yes, when I had CC debt I asked the CC co. to reduce the interest rate and they did.

By: Gina Rafkind

Gina Rafkind — Sun, 31 Jan 2010 01:04:54 +0000

Hey Jennifer,
Is there any way you can transfer your balances to one card? the card with the lowest interest rate? I have gotten emails in the past from my credit card company about transferring balances I owe on other cards to that card.

If not, have you tried talking to the credit card company about lowering your interest rate? I know people who have gotten lower rates from doing this.

Just a couple suggestions of things I’ve heard about.

Keep going – before you know it you’ll be below 2!
Best of luck!

By: Sarah

Sarah — Fri, 29 Jan 2010 20:25:31 +0000

Hooray for you for being up front about this! Money is one of those giant taboos in our culture, and I definitely would’ve gotten into less trouble with it if it hadn’t been.

My most recent triumph is that my biggest debt is now below $10,000. Somehow, taking a digit off feels like a big deal