Letters to the Editor
-
I was in her shoes myself
Reading her article was like seeing myself 8 years ago. I got into my own credit card mess not through overspending, but through sheer poverty- using credit cards to fill in the gaps from my shrinking commissions at a well-known big box electronics retailer. I was working as hard as ever, but earning less and less for my effort, and I had to use the cards for necessities- like food, gas, and even rent. (I am really glad that payday lenders did not yet have a toehold in my community, or else I would have been in even worse trouble.)
I managed to get a better job, but the huge debt hung around my neck like a millstone, and while my new income was steady, it was still not quite sufficient to cover my bills, and I had to play skip-the-payment to make my paycheck stretch to cover them. It finally got to be too much for me, and in exploring the possibility of bankruptcy, I found the Community Credit Counseling Service (CCCS) in my area. CCCS is a non-profit, consumer oriented service meant to help people with credit problems.
I got with them, and we set up a budget, I destroyed my credit cards, and we created a payment plan. They negotiated with my creditors, and the phone calls stopped immediately. It took me five years and tightening my belt considerably, but I paid off the debt and repaired my credit in the meantime. In fact, I was able to get a loan from my credit union at a fanstastic rate when my old car died on me.
I still have some debt, but it is within reason. I also have savings, which I did not have before, because I have a job with a realistic salary. I live within my means, and save up for stuff. While I am not yet wealthy enough to buy a home, it's actually looking like a possibility in a few years, especially with the prices dropping like they are. And while the lenders will take a much harder look at my credit picture (like they're doing with everyone today), they'll see that I have overcome a really awful problem.
-
Sacrifice
That word is conspicuously absent from today's vocabulary. No American wants to be uncomfortable, even a little bit, even for just a little while. Our ridiculous addiction to convenience and instant gratification is why people refuse to make significant sacrifices for intangible, yet vastly more worthwhile goals -- what today we call "credit score" people used to call "reliability."
I'm not referring to catastrophic events that hurl people into staggering debt. I'm talking about a sustained commitment to living with integrity. Don't spend what you don't have. Learn to cook at home. Go to the library. Use things until they wear out, not until you're tired of them. Stop buying presents you can't afford -- volunteer your time instead. Be honest about the difference between what you want and what you need.
And consider moving out of the city for a while. Even having a roommate in NYC is still expensive. Instead, get a roommate and a part-time job in a much cheaper town outside of the city. You could still live close enough to take the train when you need to. Besides, what's so great about living in New York if you can't afford it or resist the temptations that hurl you into debt?
-
Why are so many responders on Salon such incorrigible nags?
Many of the letters responding to this article are just what one might expect on a site like Salon--thoughtful, balanced discussions of the article itself. Just as many, however, are written by the morally smug "usual suspects" who simply must have someone to whom they can feel superior. When I read this article, I saw an honest, humorous look at a situation that is all too common for many people. But when I read some of the letters written in response to the article, I saw a weird level of vitriol from people questioning everything about her, from her intelligence and morality, to her right to earn a living as a freelance writer.
Bottom line: the woman who wrote this article made a mistake. She's trying to do the right thing and get on with her life. Her mistake is, unfortunately, a common one, which makes her article relevant and interesting for a lot of people.
I'm posting anonymously; personalized attacks give me heartburn. Good luck to you, Sarah Hepola.
-
Hard Times are Coming
I write, but I also work full time. So the writing goes very slowly. That is the drawback. But any young person who thinks they can earn a living writing full-time , while living in NY, and having all the latest crap, is kidding themselves.
And if you have kids - fuhgetaboutit.
Things are only going to start getting worse. Both the economy and the environment are going to make people remember the virtues of good old-fashioned life. My mother grew up in the depression, and she never forgot it. After all, right now some of the biggest banks in the country are in trouble, and close to the edge.
Drying clothes on lines. Walking or bicycling. Cooking. Reading instead of cable. Doing your own chores. Fixing things. All the shiny, 'new' tech stuff is going to look lamer and lamer. Trust me, even Starbucks is worried, which is why they now have a $1 cup, which is a $1 too much.
Perhaps U.S. humanity will then get it's mojo back. For it has certainly lost it right now. Still living in wonderland, but the fog is clearing.
-
Reading this article was like looking into a mirror
One year ago this month, I did what Sarah did. I added up all my debt and realised I was $10,400 in the hole.
How did I get there? Listening to the wrong person.
My parents tried to warn me, but they're not pushy, and they didn't teach me about money (it was my father's pride to know that his two daughter lived like ladies and never had to worry their heads about needing anything.) They were doing it right, paying the cards off , getting a house at a low rate and keeping on top of it, buying cars within their means, but the example wasn't out there and obvious, and I missed it.
The man I met and married was a fool. He told me never to pay the whole maount off on my card, even if I could. The card company wouldn't like it, for one, and if I did, I would never build credit. We ate out all the time. We lived in apartmetns we couldn't afford and leased cars--never looking at the big number, just the monthly fee. Just like the loan officer told us too. When we gave back the car we had to give them $4,000 in cash to take it back.
We married for the wedding--he wanted it--and "paid" for it ourselves with loans. We moved to NYC on a whim.
When I left him, I paid for everything on the credit card. The move, the lawyer, everything.
Really, the fact that my debt was only ten grand is a miracle.
But it was easy to fix, because 10 grand is NOTHING in this loan addled modern world. I took out one loan for 11 grand and paid off the credit cards all at once, and then closed them all. The loan was a one-year 0% interest--then it would jump to like 20-odd%. So whatever I did, I could NOT pay the minimums. Paying the minimums was the trap. I sent every cent I could for a year--my minimum was that it had to match my rent payment. if I could pay $750 in rent every month, then I had to be able to also send at least $750 to the loan. That was one year ago.
This December I sent off the last payment. I'm not totally debt free--I have one new credit card with a 10% apr, and my car needed $2000 worth of work done right before Christmas. But $3000 is a mountain I can conquer, the same way I conquered the $10grand. Never pay the minimums. Never send it late. Never send too much so you have to put your groceries on the card. Budget your Starbucks intake. (I put $100 on a gift card once every six weeks. If that doesn't cover it, then, I shouldn't be drinking it.) Responsibility isn't hard. It takes just an ounce of thought.
And pray you never get sick or injured in this country.
-Laura