A Quote by Jenny Mollen
I never had credit card debt... I was very much about trying to gain my freedom, so it was about saving.
Related Quotes
Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down.
When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.
There's also consumer debt, the credit card debt that burdens many of the working families in America. Yes, we talk about national debt, and we're paying a lot down. But you're fixing to hear me tell you part of the remedy for people who have got a lot of credit card debt is to make sure people get some of their own money back.
But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.
If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.
In about one-third of credit card consolidations, within a short period of time, the cards come back out of the wallet, and in no time at all, they're charged back up. Then you're in an even worse position, because you have the credit card debt and the consolidation loan to worry about. You're in a hole that's twice as deep - and twice as steep.
Nobody had a credit card when I was a kid. No one had credit card debt. But these big companies and banks wanted to know how to get more money out of people - get them charging things.
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
It wasn't until I stood in my truth and told everybody that I had $250,000 in credit card debt. At that point, everything turned around for me. I had to reveal the truth about what I didn't have, more than pretend about what I did. That was interesting.
You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.
I have no credit cards. That was the decision that was made jointly by the credit card companies, and by me. I can't say that that was completely on my account. I buy nothing on credit now, nothing. If I can't afford it, I don't buy it. I have a debit card, that's all I have. Any debt that I have, I am paying down.
I worry that every time I lay down my credit card of choice, it says something about me. About my social standing or how I see myself. The very colour of your card is an indication of where you stand in the wealth stakes.
I'm very interested in the more grass-roots consequences of the economic meltdown: issues related to mortgage foreclosures, debt collection, and the practices of credit card companies and others who hold a lot of consumer debt.
There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks.
I kept auditioning, with no savings and no money, credit card debt gaining interest. I went on unemployment. I bought ramen noodles at dollar stores. I never had to - God forbid - live on the streets.
Related Authors
Angelina Jolie Quotes
American
Actress
Carrie Fisher Quotes
American
Actress
Cate Blanchett Quotes
Australian
Actress
Drew Barrymore Quotes
American
Actress
Emma Watson Quotes
British
Actress
Jane Fonda Quotes
American
Actress
Jennifer Aniston Quotes
American
Actress
Kate Winslet Quotes
English
Actress
Kristen Stewart Quotes
American
Actress
Lena Dunham Quotes
American
Actress
Marilyn Monroe Quotes
American
Actress
Meryl Streep Quotes
American
Actress
Mindy Kaling Quotes
American
Actress
Sandra Bullock Quotes
American
Actress
Selena Gomez Quotes
American
Actress
Viola Davis Quotes
American
Actress