Financial Information
Would you be willing to help out another family by donating $5 min to helping them reduce credit card debt?
Question : Would you be willing to help out another family by donating min to helping them reduce credit card debt?
I’m in process of starting an organization to help middle class families get out from under their large amount of credit card debt instead of waiting for the government to help or credit card companies to help. Would you be willing to make a donation to selected families in the PayitForward method to help reduce the large amount of credit card debt?
reduce credit card debt
Best answer:
Answer by Eccentric Spice
They have credit consolidation companies for that. When I donate money, I do it to charities that REALLY need it.
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#3 written by 55Spud 1 year ago
No. This is akin to the welfare problem in this country where people refuse to accept responsibility for themselves and think (demand) that the rest of us pay for it. People need to learn – some of them the hard way – that there is a price to pay for bad habits. Of course, there are those who have fallen on hard times. When times weren’t hard maybe they should have put something away for the possibility that things aren’t always going to be rosy. I used to tell my kids that in life you always pay a price. You pay the price to get a good education and save, or you pay the price because you didn’t. It all boils down to nothing more than choices and responsibility. In a country like the U.S. there is really no reason other than denial and laziness for anyone to be poor.
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#4 written by M S 1 year ago
I would, if they were banned from getting a credit card, or most types of high-interest “easy” credit, ever again. They have proven themselves irresponsible with credit already. A credit card is a convenience, not a necessity. I’m not going to be cruel and ban them from mortgages or car loans, but they can do with a debit card what they can do with a credit card. It’s just that the money has to be there in the first place to use it. If the person cannot handle the concept of “money borrowed” then they must get by on “money already earned.” Too many people who get themselves into these situations think if credit cards as “free money to spend.”
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#5 written by BabeHeart 1 year ago
I’d suggest first educating them on better spending habits. I don’t mind helping out those who have fallen on hard times due to things like loss of job (through no fault of their own), death or injury of primary provider so they cannot work, etc.
People who just had bad spending habits and misused their credit cards due to greed and/or poor judgement, I feel need to learn the lesson and muck through as best they can.
Personal responsibility. If we screw up, we need to learn the lesson and fix the problem ourselves.
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#6 written by Meri 1 year ago
No thanks. I got myself into stupid debt, and I am in the process of digging myself out. All people trapped in stupid credit card debt really need is for it to be illegal for the interest rates to be as high as they are on some credit cards. 29.9% interest rates should be illegal. Those are loan shark rates. If the government could reign in the interest rates, people who are middle class and have decent jobs could dig themselves out of debt on their own, empowering them to solve their own problems instead of desperately needing a hand out.
It IS possible. My brother dug himself out of debt, and I am in the process of doing the same.
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NO!!! I feel for the little people really i do! I am one! I have 3 credit cards maxed out (a total of $ 1000, each card only had a 300 limit on it). I haven’t made a payment in months becuase I am barely keeping afloat as it is. And I just lost my job. BUT Those were MY mistakes. No one elses. And no one else should have to pay or donate to my irresponsibility!!! I do what it takes so that my family can survive without HELP FROM ANYONE! No welfare, no disability etc! My husband andI work hard and if we can do it. Then so can these people.
They made the choice to get teh large credit cards and spend the credit on them. So its no one elses responsibility to pay it but thier own.