Reply #8: People paying mtg instead of credit cards! Credit agencies hurt! [View All]

[CarmanK]

It doesn't really matter. People were trying to keep up credit card payments all the while they were bilking us not only with late fees, but with USURIOUS finance charges. The govt failed to protect us from the Wall street predators, and they took advantage. Last year, my son died, I was late and they offered no help and made sure that the lates were on my credit reports, the bunch of them. I intend to pay my just debts, but I have to get my priorities in order. It is easier to get a meal than it is to get a safe roof over my family, so I now pay the mtg, the electric, the phone and divvy up the rest the best I can. Even our credit union shafted us this time around. What is really disgusting, you build up relationships, but when things get rough, the banksters have amnesia for all the years we were good customers. So, I say. It is time to tear up the credit cards/negotiate lower pmts on the balances. they will cancel your cards and hit your credit report. But, there will be so many of us, that the banks will find a way around it, if it means another revenue stream for them.