So many new members! Or is it just me?

[DeadManCrawling]

Seems like a large influx of new members in the last couple months.

Maybe I am wrong, maybe it is an end of year phenom that always happens.

Just seems to me that so many people are asking the same questions we all had at the beginning of our BK journey.

Hint to new members: Use the search function first. If your posts don't get answered, it may be because some of the old-timers (myself included) have answered those questions dozens of times and prefer to answer questions that are a bit more intricate.

No offense intended, and I hope, not taken. Once you've been around for a while you will understand.

Welcome to all the new folks, and I suspect it is a sign of even more to come.

best,

-dmc

[Steelerbabe]

I think it is a sign of the times. With job losses, reduced hours and pay something has to give.

[frogger]

I think we will continue to see the numbers rise. It's tough out there.......

[AngelinaCatHub]

There is a very noticeable difference in volume here. Also during the day PACER just crawls for the amount of bandwidth it needs. It is being used intensely.

All things cannot be blamed on Bush. It is 'Bammy's watch now. Who coined the phrase "its' the economy, stupid"? Now that his lack of action has caused so many layoffs, a spin-off of no Health insurance for ex-employees, His legacy of ruined Health care will surely come about.

[jdcat]

Hi DMC thanks for the welcome. Things are tough for a lot of folks. I have a family member filing next month. Another family member picked up a second job to help make ends meet for his family because his hours were cut at work about a year ago. Things are definitely rough for many right now.

I just recieved a change in terms notice from Chase yesterday. They bumped my rate up to 24%. I've never been late with them or missed a payment.

Capitol One had already done this to me.

So here I am.

[JEM]

Hi DMC thanks for the welcome. Things are tough for a lot of folks. I have a family member filing next month. Another family member picked up a second job to help make ends meet for his family because his hours were cut at work about a year ago. Things are definitely rough for many right now.

I just recieved a change in terms notice from Chase yesterday. They bumped my rate up to 24%. I've never been late with them or missed a payment.

Capitol One had already done this to me.

So here I am.

This was the nail in our coffin I think. Having interest rates raised, causing minimum payments to go WAY UP--therefore most of our disposable income went to paying the cards, and we had to use the cards for living expenses--causing balances to go up EVEN MORE. A vicious cycle. I'm just sorry we stayed in it for so long.

It's nice to have so many helpful people here though!

[AngelinaCatHub]

This was the nail in our coffin I think. Having interest rates raised, causing minimum payments to go WAY UP--therefore most of our disposable income went to paying the cards, and we had to use the cards for living expenses--causing balances to go up EVEN MORE. A vicious cycle. I'm just sorry we stayed in it for so long.

It's nice to have so many helpful people here though!

Yes. I just don't understand the reasoning of these banks. I thought the bailout and their scoffing up of funds for "credit" customer use would put a hold on this jacking up of percentile? You would think a banker smarter than this? Half of something is better than all of nothing, and I hear and read this all the time. The last straw while just holding on, was CC rates that breaks that camel's back. It gives a real defensible hate about this type of business practice.

I once felt guilty about bk against those who were kind enough to lend me advanced money. Not anymore when I see them kicking so many people who are already "down". 'Hub

[jdcat]

The ironic part of receiving the Chase change in terms notice is that I had already decided to stop paying them as of this month. I'm not late with them yet but will be in just days, and this change of terms really cemented my decision to not pay any further.

This is great place! Tons of info.

[AngelinaCatHub]

The ironic part of receiving the Chase change in terms notice is that I had already decided to stop paying them as of this month. I'm not late with them yet but will be in just days, and this change of terms really cemented my decision to not pay any further.

This is great place! Tons of info.

OK, as a "GET EVEN", the first time they call you, turn the tables and tell them that THEY were the last straw on hiking your rate up and that THEY lose all as you were current and THEY were the deciding action that is for your decision to bk. If more people told those idiots that fact, maybe they would catch on that greed doesn't get you anywhere. 'Hub

[justbroke]

Yes. I just don't understand the reasoning of these banks. I thought the bailout and their scoffing up of funds for "credit" customer use would put a hold on this jacking up of percentile? You would think a banker smarter than this?

They are doing this to get ahead of the new Congressional law... which wouldn't allow them to change your rates (for technical default). So, they are changing the rates now.

[JEM]

They are doing this to get ahead of the new Congressional law... which wouldn't allow them to change your rates (for technical default). So, they are changing the rates now.

Yep.

Unfortunately--it's been on people like us that were never so much as a day late.

One of our Citi cards went from $230/mo----->$346. Another jumped from $70--->$136. When someone is barely hanging on, doing that across most of their cards, and we had a lot ( ) just shoves them right over the proverbial cliff.

[AngelinaCatHub]

They are doing this to get ahead of the new Congressional law... which wouldn't allow them to change your rates (for technical default). So, they are changing the rates now.

Yes, and losing their adds. 'Hub

[lindsay2181]

I am one of those new members. It's no surprise that there are lots of newbies right now....I think lots of people put off even THINKING of BK until they hit ROCK bottom...and we've been struggling since before the economy took a downturn, just didn't want to admit things were that bad I guess, until now. (My husband is still in denial).

I have been using the search function and found answers to some questions without having to post them myself, but I have not found anything similar to my situation yet...it seems like everyone here has worse problems than me--more debt, more assets, etc., so much so that it made me question whether BK is actually for me. I mean, I feel desperate but I go through and read these posts and see people in much worse shape than me. I was told by a loan officer than BK is for anyone who feels hopeless and that there isn't necessarily a magic $$ number.

Anyhoo...back to reading.

[Mommyoftwo]

There is so much info on this forum, that even searching is overwhelming!! (Obviously, a newbie here) For me, I never thought bankruptcy was an option. I always thought that in a BK you'd lose your car, house, etc and have to be behind on everything before you could even file. Going through this forum helped me to realize that everyone's situation is different and led to us contacting a lawyer. I've been reading for over a year and just started participating today (working on the nerve for my 341 meeting tomorrow I guess).

[may]

There is so much info on this forum, that even searching is overwhelming!!

This! It is overwhelming! A "where to begin" thread would be so helpful for people who are really clueless as to where to start. (Like me! ) Help is always appreciated, but with so much information it's hard to know where to go or even what to search.