Tuesday, September 30, 2008

Credit Card Company

I called my credit card company today an said, "I have a very simple question to ask. How much do I have to pay every month to pay off my credit card in 2 years."
Her answer "That is a very good question. I have never been asked that question before. Hold on a second pls..." "Sir I actually do not have the answer to that question." She went on to say something about interest rate, bla, bla, bla...to sound intelligent to try to throw me off. But I cut her off and said "You mean to tell me a credit card company does not have the answer to such a simple question?"
"Sir, it's not that simple, there are interest rates...depending on..."
I said,"Assuming the interest rate remains constant, & I had the money, how much would I pay a month?" Then she puts on hold and transfered me to a debt management company, even w/o prepping me for the transfer.

This only confirms the notion that Credit Card companies do not want you and I to pay off debt, especially when I really want to.

Then I spoke with a very reputable debt management company, and took me through a test of 16 questions, like:
How much money do I spend to cut my hair?

Do I use coupons to buy groceries?

What, if any, are my car payments?
...All great questions to which I made a perfect score.

Now, my financial situation was very unique and so, fortunately, the organization could not help me.

I had to go to battle with the credit card company and I pushed them to the wall as they did the same. Finally, I was able to get a deal with them to pay my debt off in 5 years...about 2 years with a good full time career job.

This is a huge breakthrough for me because
1. There is a light at the end of the tunnel (I have a goal to get this dirty baggage off my back)
2. Many Americans have so much debt, including house and cars, that it could take them 20 years to pay it off.
...