Comments on: How to be Debt Free Through Bad Credit Debt Consolidation Loans http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans borrow money and never pay it back Wed, 27 Jul 2011 10:51:53 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Pete L http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11053 Pete L Thu, 22 Apr 2010 00:26:59 +0000 http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11053 I think that in order to truly be debt free you really need to change your beliefs when it comes to money and spending. Here is a good article on recognizing good and bad debt; http://www.allaboutdebthelp.com/general-debt-help-info/how-can-debt-be-both-good-and-bad. You won't get into trouble for applying for another lower interest rate card you may just get rejected. By all means it is certainly worth a try and I would cut up my credit card too lol!<br><b>References : </b><br>http://www.allaboutdebthelp.com I think that in order to truly be debt free you really need to change your beliefs when it comes to money and spending. Here is a good article on recognizing good and bad debt; http://www.allaboutdebthelp.com/general-debt-help-info/how-can-debt-be-both-good-and-bad.

You won’t get into trouble for applying for another lower interest rate card you may just get rejected. By all means it is certainly worth a try and I would cut up my credit card too lol!
References :
http://www.allaboutdebthelp.com

]]> By: Sigma http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11052 Sigma Thu, 22 Apr 2010 00:24:59 +0000 http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11052 Your first instinct was correct to pay down your debt. Unfortunately, you made two critical mistakes. 1. You really did not get rid of the debt when you took out a CON-solidation loan, you just moved it. Moving it mad you feel like you were doing something positive but in reality, nothing happened. I am glad you paid it off. 2. You did not change your behavior in your spending practices. You opened another Credit Card? Are you nuts? Why would you do that seeing that the first one did you so much "good"? I am a strong advocate of not using credit for anything, ever. If you do not have the expendable cash in your hands, you can not afford it. Just work hard at paying off the card as quickly as possible. Not the minimum each month, but every dime you can scrape up from under the car seat to the sofa cushions. Cut up the card so you do not get into trouble with it anymore. If you go to your bank again fo a debt loan again, they may raise an eyebrow at why you are back so soon. And for Gods sake, Change your spending habits. Stay out of malls, restaurants, bars, movies, vacations, etc. until this debt is gone. Stop buying stuff you don't need. Please pick up a book by Dave Ramsey called the Total Money Makeover. This is a book that has helped my wife and I get out of debt and stay there. It is fantastic, an easy read, and the steps are easy and logical. He has a tv show on Fox Business Channel and can be heard on the radio. You will need to go to www.Daveramsey.com to find out about stations and times. No I don't work for him. I just ran across him on tv one night and started watching him. After my wife and I read his book, we felt like someone hit us in the face with a board. It really made us look at the stupid mistakes we have made. Once we realized how much of an idiot the person in the mirror was, it really changed our attitudes toward money. I am not trying to preach or anything, but his system has helped us out so much. It sounds like you are making some of the mistakes we made and I thought I would pass the info along as it sounds like you need a little help. Trust me, you will be a much better person for the effort. It will take a ton of weight off your shoulders once you get a plan together. Good luck<br><b>References : </b><br> Your first instinct was correct to pay down your debt. Unfortunately, you made two critical mistakes. 1. You really did not get rid of the debt when you took out a CON-solidation loan, you just moved it. Moving it mad you feel like you were doing something positive but in reality, nothing happened. I am glad you paid it off. 2. You did not change your behavior in your spending practices. You opened another Credit Card? Are you nuts? Why would you do that seeing that the first one did you so much "good"? I am a strong advocate of not using credit for anything, ever. If you do not have the expendable cash in your hands, you can not afford it. Just work hard at paying off the card as quickly as possible. Not the minimum each month, but every dime you can scrape up from under the car seat to the sofa cushions. Cut up the card so you do not get into trouble with it anymore. If you go to your bank again fo a debt loan again, they may raise an eyebrow at why you are back so soon. And for Gods sake, Change your spending habits. Stay out of malls, restaurants, bars, movies, vacations, etc. until this debt is gone. Stop buying stuff you don’t need. Please pick up a book by Dave Ramsey called the Total Money Makeover. This is a book that has helped my wife and I get out of debt and stay there. It is fantastic, an easy read, and the steps are easy and logical. He has a tv show on Fox Business Channel and can be heard on the radio. You will need to go to http://www.Daveramsey.com to find out about stations and times. No I don’t work for him. I just ran across him on tv one night and started watching him. After my wife and I read his book, we felt like someone hit us in the face with a board. It really made us look at the stupid mistakes we have made. Once we realized how much of an idiot the person in the mirror was, it really changed our attitudes toward money. I am not trying to preach or anything, but his system has helped us out so much. It sounds like you are making some of the mistakes we made and I thought I would pass the info along as it sounds like you need a little help. Trust me, you will be a much better person for the effort. It will take a ton of weight off your shoulders once you get a plan together. Good luck
References :

]]> By: Chris C http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11051 Chris C Thu, 22 Apr 2010 00:22:59 +0000 http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11051 You can try. The worse they can say is no. As you are starting to understand switching this debt from your left hand to your right hand still leaves you with the debt. You need a fundamental change to how you handle your money. That starts and ends with a written budget and tracking where every dollar goes in your life. You can do it on a yellow pad or use some software. Either way doesn't matter so long as you do it. Make a budget every month, you must never spend more than you have coming in. No one is a born budget master so you will have to learn. The first, second and third time time you try it will suck, the fourth and fifth time you will start to feel traction. but you will never be debt free until you learn how. The vast majority of Americans do not budget, that is the real reason why our society is in such distress today.<br><b>References : </b><br> You can try. The worse they can say is no. As you are starting to understand switching this debt from your left hand to your right hand still leaves you with the debt.

You need a fundamental change to how you handle your money. That starts and ends with a written budget and tracking where every dollar goes in your life. You can do it on a yellow pad or use some software. Either way doesn’t matter so long as you do it.

Make a budget every month, you must never spend more than you have coming in.

No one is a born budget master so you will have to learn. The first, second and third time time you try it will suck, the fourth and fifth time you will start to feel traction. but you will never be debt free until you learn how.

The vast majority of Americans do not budget, that is the real reason why our society is in such distress today.
References :

]]> By: Theresa15 http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11050 Theresa15 Wed, 21 Apr 2010 19:20:21 +0000 http://www.dodebt.com/debt/how-to-be-debt-free-through-bad-credit-debt-consolidation-loans#comment-11050 <b>Debt Consolidation Loans?</b><br>I just recently paid off my debt consolidation loan that I got through my credit union. Unfortunately, I didn't learn the first time, and opened up another credit card and I am in the same situation again. Do you think I could get into trouble for trying to apply for another loan or a credit card with my bank to see if I can transfer the balance from my high interest credit card to another one? Or do you think that I would be stupid to apply for another loan with them? Maybe I just feel guilty for not keeping my spending down. Ugh... what do I do? I just want to be debt free! Debt Consolidation Loans?
I just recently paid off my debt consolidation loan that I got through my credit union. Unfortunately, I didn’t learn the first time, and opened up another credit card and I am in the same situation again. Do you think I could get into trouble for trying to apply for another loan or a credit card with my bank to see if I can transfer the balance from my high interest credit card to another one? Or do you think that I would be stupid to apply for another loan with them? Maybe I just feel guilty for not keeping my spending down. Ugh… what do I do? I just want to be debt free!

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