Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Are you personally experiencing the credit crunch?

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
quartz Donating Member (47 posts) Send PM | Profile | Ignore Sat Sep-20-08 02:17 PM
Original message
Are you personally experiencing the credit crunch?
In the news: Banks are not lending to each other anymore.

Are you personally experiencing the credit crunch?
Printer Friendly | Permalink |  | Top
tpsbmam Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:20 PM
Response to Original message
1. Check this link.....
Edited on Sat Sep-20-08 02:21 PM by tpsbmam
All of us who posted are still getting preapproved credit card offers.....most can't afford the credit cards they're offering. What a crock of shit.

I have no doubt, though, that it's getting harder to get mortgage approvals and that it's hitting people in lots of ways.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4037595&mesg_id=4037595

(Edited to add the link i forgot -- duh!)
Printer Friendly | Permalink |  | Top
 
quartz Donating Member (47 posts) Send PM | Profile | Ignore Sat Sep-20-08 02:23 PM
Response to Reply #1
5. Thanks for the link
:-)
Printer Friendly | Permalink |  | Top
 
melody Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:20 PM
Response to Original message
2. nope
I don't borrow and all my bills are paid off except for utilities.
Printer Friendly | Permalink |  | Top
 
lynettebro440 Donating Member (950 posts) Send PM | Profile | Ignore Sat Sep-20-08 02:23 PM
Response to Reply #2
4. Me too
only bills I have are monthly maintance. I do pay rent but only $400 a month, share with two other people. They have been sending me credit card applications like crazy, especially WAMU, what a joke. I don't owe anyone, well I guess $50 to my dentist that I need to remember to pay...LOL
Printer Friendly | Permalink |  | Top
 
sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:35 PM
Response to Reply #4
7. I am trying to teach my kid to be this way (19) so far he has listened.
No bills is the way to go, IMHO.
Printer Friendly | Permalink |  | Top
 
Bobbieo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:36 PM
Response to Reply #2
9. Me neither, and my house is paid off. But the crunch is coming!
Printer Friendly | Permalink |  | Top
 
melody Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 03:01 PM
Response to Reply #9
19. My house is paid off, too, but all we'll really need is real estate tax and food
Edited on Sat Sep-20-08 03:02 PM by melody
We're in California -- we'll be warm enough in the winter. And we can always pack up the trailer and go north (with our electric vehicle) in the summer -- we've just purchased a solar array. My family is always welcome here. If we all stick together, we'll get through it.
Printer Friendly | Permalink |  | Top
 
sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:21 PM
Response to Original message
3. It would be a Money Crunch
if the banks truly weren't lending to each other anymore. I can't remember which DUer explained it the other day, but this is the only place I've read the true nature of this crisis. If the banks don't trust each other to deliver the cash from checks written, and quit fronting the money to cover those checks, then you can't get any money.
Printer Friendly | Permalink |  | Top
 
jkshaw Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:30 PM
Response to Original message
6. Our pension funds have dropped a third.
We were figuring out how much we had to live on decently before our pension completely disappears and had a good laugh over it. We'd got to the point at which we're hoping we won't live past fifteen years from now. Unfortunately, my husband has an uncle who lived until he was 93.
Printer Friendly | Permalink |  | Top
 
VP505 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:35 PM
Response to Original message
8. Nope
B-)
Printer Friendly | Permalink |  | Top
 
Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:37 PM
Response to Original message
10. Nope. I avoid debt like the plague. Can't afford it. n/t
Printer Friendly | Permalink |  | Top
 
InkAddict Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:41 PM
Response to Original message
11. I'll be experiecing it for at least the next 7-10 years thanks to
current and the as yet unimaged new policies on employment and healthcare. I probably be close to dead by then, so I guess I should take a clue from the young and go PARTY DOWN. Somehow, I'm not in the mood.
Printer Friendly | Permalink |  | Top
 
hack89 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:45 PM
Response to Original message
12. I actually came out a winner
my mortgage company couldn't sell my mortgage to investors so they came to me and offered a refinance to an FHA loan. They knocked $20K off my principle to get under FHA limits and payed all closing costs.
Printer Friendly | Permalink |  | Top
 
formercia Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:46 PM
Response to Original message
13. I'm so fucking poor
that no matter how low the economy goes, it won't bother me much.

Poverty. Get used to it.
Printer Friendly | Permalink |  | Top
 
leftofcool Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:52 PM
Response to Original message
14. We pay our bills off when they come in
no crunch here
Printer Friendly | Permalink |  | Top
 
Speck Tater Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:58 PM
Response to Original message
15. Nope. I don't buy anything I can't afford to pay cash for. NT
Printer Friendly | Permalink |  | Top
 
AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:59 PM
Response to Original message
16. no.
if i don't have the cash for it i don't buy it.
Printer Friendly | Permalink |  | Top
 
LeftyMom Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 02:59 PM
Response to Original message
17. I'm not trying to borrow from anybody.
:shrug:
Printer Friendly | Permalink |  | Top
 
Indiana_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-20-08 03:00 PM
Response to Original message
18. Zero debt here. Started paying debt down in 2004. Became 100% debt free 2/2008. nt
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat May 04th 2024, 05:20 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC