Reply to how much credit card debt do you have? do tell please

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

How do people get such high cc debt, don't they get their card declined?  Do they have a huge amount of cards - if so that's just asking for trouble (however I understand how money/bills can really add up so I hope those that have the debt can stick to a plan to pay it off and I'm sorry for your stress).[/quote]

Before the recession the[b] credit card companies gave me ridiculous credit limits and we spent just about up to those limits.[/b] Of course we spent it so I'm not blaming them entirely, but now it's much harder to get credit and for us that's a good thing. It's helped discipline us. All our cards are closed and we're just paying off what we owe. I'm glad that when we pay it off there won't be this big line of credit tempting us to splurge on a vacation we can't really afford or buy some new toy/bike/jacket that DS or DH "need".

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But why would you use those limits as your budget, rather than your actual income/available cash?[/quote]

We didn't treat our cc'd as part of our budget, but we were young and stupid and didn't really know how to communicate about money (or how to manage it for that matter). DH was out of work/under employed for nearly two years during this time and we didn't know how to say no to ourselves. We've gotten much more disciplined now, but a toddler in daycare eats up a ton of our budget, so we haven't been able to pay it down as quickly as we would have liked. I take responsibility for our situation AND I know if wouldn't have been this bad if I didn't have lines of credit that far exceeded our annual income.

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