the world didn't come to an end.
Last Friday, for the first time ever, we did not pay our minimum amount due. We could not do it and keep the electricity on and food on the table.
The minimum amount due was astronomical, because we accidentally went $100 over the limit in January. A miscalculation, partially due to the fact that they had just (for no reason) raised the APR by a big %. So then of course we had the over the limit fee too, and the amount they said was our minimum due was twice the amount of our previous payment.
I paid them $100, and that was a stretch for us. There will be others due soon that we can't afford the minimums on either, but this was the first, and I had to take a deep breath when I was paying the $100 online and it flashed a big red warning message at me that it was not enough to cover the minimum due. And they are already calling as of this morning(not leaving a message, but I googled the phone #). But guess what? Nothing terrible happened. And in all probability, nothing worse than some phone calls and threatening letters will happen between now and the time we file.
So, just to reassure those of you who know you will be filing BK, have cut every luxury item/service from your lifestyle that you can, and are pulling your hair out or losing sleep trying to figure out a way to keep paying the CCs as long as possible, do yourself a favor and put your family first, as so many wise people on this board recommend. Of course DH and I recognize and accept the fact that we never should have used credit to begin with and then we wouldn't be in this mess, but I'm done losing sleep over CC companies who got huge bailouts with taxpayer money and, in return, starting raising rates and fees, even for customers who had never even been late on a payment. We will go through the BK, learn to pay as we go (which we are already doing as of last month), and raise our children to do the same.
Life not only goes on, it gets better, I'm certain of it.
Last Friday, for the first time ever, we did not pay our minimum amount due. We could not do it and keep the electricity on and food on the table.
The minimum amount due was astronomical, because we accidentally went $100 over the limit in January. A miscalculation, partially due to the fact that they had just (for no reason) raised the APR by a big %. So then of course we had the over the limit fee too, and the amount they said was our minimum due was twice the amount of our previous payment.
I paid them $100, and that was a stretch for us. There will be others due soon that we can't afford the minimums on either, but this was the first, and I had to take a deep breath when I was paying the $100 online and it flashed a big red warning message at me that it was not enough to cover the minimum due. And they are already calling as of this morning(not leaving a message, but I googled the phone #). But guess what? Nothing terrible happened. And in all probability, nothing worse than some phone calls and threatening letters will happen between now and the time we file.
So, just to reassure those of you who know you will be filing BK, have cut every luxury item/service from your lifestyle that you can, and are pulling your hair out or losing sleep trying to figure out a way to keep paying the CCs as long as possible, do yourself a favor and put your family first, as so many wise people on this board recommend. Of course DH and I recognize and accept the fact that we never should have used credit to begin with and then we wouldn't be in this mess, but I'm done losing sleep over CC companies who got huge bailouts with taxpayer money and, in return, starting raising rates and fees, even for customers who had never even been late on a payment. We will go through the BK, learn to pay as we go (which we are already doing as of last month), and raise our children to do the same.
Life not only goes on, it gets better, I'm certain of it.
Comment