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Author: nd1999 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308519  
Subject: My First Post Date: 7/3/2002 9:24 PM
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Recommendations: 17
I have been lurking around this board for the past couple weeks, 
and I decided that it would be worth it to buy a membership.  My
favorite posts to read are those where people spell out their debt
situation.  Somehow I think its therapeutic to read that I'm not alone.

So here's my story:

I'm 25 and have been married for 10 months.  After our 
wedding, my wife and I added up all our credit card debt 
and were disgused to see that we had accumulated about $14,000.  
So I took the $4,000 in cash that we got from our wedding and 
paid off credit card debt with it.  I also transferred most 
of the balances to some 0% offers that I got.  But we didn't 
change our spending habits, and I was shocked to add everything 
up in December and see that we had $16,500 in debt.  I felt 
horrible for having nothing to show for that $4,000 that we got 
from people for our wedding.

Since then we have been committed to paying down our credit card 
debt.  At first I said that credit cards would only be used for
groceries and gas.  That helped, but we would still slip up from 
time to time.  So for the last three weeks we have kept them locked 
up in a drawer.  I only use them for buying things on the Internet.
That has worked well.

So here is my situation now.  I'll give periodic updates and I 
hope some of you continue to do the same.  The moral support 
keeps me focused on my goal to be credit card debt free by the 
end of the year.  (By the way my Citibank rate is so low because 
its an employee rate.  I work for another division of Citigroup.)

07/03/2002
----------

Card              Rate          Balance
-------------     --------      ---------
GM Card           12.74%             0.00
Citibank          5.75% var.        78.16
Discover          14.99%             0.00
AT&T (wife)       0% thru Sept.   2000.00
AT&T (mine)       0% thru Sept.      0.00
Chase             0% thru Sept.   6100.00
                                ---------
Total                            $8178.16
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