An Article on "Survival Debt"

Kim · **An Article on "Survival Debt"**

I thought this was interesting. People charging rent and groceries, yet not able to pay their credit cards in full each month. The worst kind of debt! Just wondering what you all think.
http://articles.moneycentral.msn.com...Groceries.aspx

Daisymum · 01-04-2007, 10:42 AM

A lot of my credit card debt came from things we 'needed'. I had a Walmart and a Sams Club card that I used a LOT for groceries. I have a friend who had a CC with a 15,000 limit and put a down payment on her house on it.

I am about equal... half of my debt was "survival" debt, and half "fun". However I now see nothing fun about it....

ajjazzy · 01-04-2007, 10:51 AM

We have been there. After my DH was hurt and had to get out of the miltary. We did have saving. but that went fast. now we are getting back on track. fun charges? I don't have that. but we are almost there

vioburn · 01-04-2007, 11:49 AM

There was a time that we had some survival debt. We were lucky that the cards that we had didn't have super high credit amounts, about $500-1500 each. And, the first year we were married, I ended up in the hospital with no insurance. The hospital put my balance on a credit card account. The CC's that we used after that were mostly for groceries and gas and sometimes the occasional monthly bill that had to be paid, like electricity. I only have one card left, which is for Sear's, and we used it for large items, like our refridgerator, washer and dryer.

brensmom · 01-04-2007, 01:46 PM

that is what our credit card debt is survival debt never thought that would happen to us but when we needed food on the table and a roof over our heads that was my option now we are slowly digging out and have learned some lessons along the way we are what some call the working poor nothing has come easy and thats ok we have learned and are better for it frankly...

littlelizard · 01-04-2007, 02:01 PM

That was most of our CC debt, rent and groceries, we even paid some bills on the CC. We were like that for quite a while after DS1 was born unexpectedly early and in the time afterward had many medical issues.

jmp2675 · **us too**

we had survival debt and still paying it off with kids in the hospital and unexpected babies with no insurance you have no other choice i can say though we are almost debt free and try really hard not to use the credit card.

2bearsmom · 01-04-2007, 05:22 PM

Now in my 30's I see nothing "fun" about CC debt. In my early 20's sure...I had 'fun' on the credit card...but I always paid my bill and never ran up a high balance...Then came marriage and motherhood and GULP...REAL responsibility....The day I paid my mortgage with my Discover, I knew I was in trouble. It's a time in my life I NEVER wish to repeat. These days if I catch myself paying for groceries with a CC and not a debit, it's time to pick up more hours of work b/c obviously we're not making it month to month.
I do agree with the article on the point of when you're living on your CC, but not able to pay the bill....something needs to change!

Country~mouse · 01-04-2007, 05:36 PM

Unfortunately after dh lost his job in August and found another one but it doesn't pay as well, we are slowly going further into the deep dark hole of CC debt. I have not used it to pay the mortgage yet, thankfully, but i have had to use it alot for groceries, school supplies and gasoline for the cars and other misc things that pop up like minor car repairs or household repairs. It bothers me, i lose sleep over it sometimes, but i am not as bad off as some of those "Debt-Diet" members on the Oprah show, Yikes they had some serious CC debts!!

vioburn · 01-04-2007, 06:47 PM

Our mortgage company does not allow you to pay with a CC. It has to be a checking account or money order or something.