This Forum is TOXIC!!

[Anonymous]

I'm not sure on what planet its recommended to work so hard to quickly get back in debt right after you've had to file bankruptcy????  Whats the reason?  To rebuild your ability to get back into debt again???  Im no angel.  Have been there...TWICE now.  But I have come to the realization that we all here have a sickness.  A sickness to borrow money that we dont have.  And this forum is like a feeding frenzy over that.  The "rebuild" process should be start saving money and never use credit again.  There should be no reason to start shaking trees minutes after you receive that discharge, trying to get back into debt again.  The measure of your credit score is that you are REALLY GOOD at paying someone else interest to use their money for something you can't afford.  Time to see the light people.  Credit is by its nature, a bad thing.  There is no math that puts you out in front even when you are getting points, cash back and free airline miles.  You are still ending up at the losing end.  Lets band together to stop this epidemic that goes on here.  Unless you have some sort of mortal emergency, I cant think of a single reason you'd need to get "rebuilding" and getting back into debt.  Please no flames here.  This is the real deal.

[rbentley]

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@Anonymous wrote:

I'm not sure on what planet its recommended to work so hard to quickly get back in debt right after you've had to file bankruptcy????  Whats the reason?  To rebuild your ability to get back into debt again???  Im no angel.  Have been there...TWICE now.  But I have come to the realization that we all here have a sickness.  A sickness to borrow money that we dont have.  And this forum is like a feeding frenzy over that.  The "rebuild" process should be start saving money and never use credit again.  There should be no reason to start shaking trees minutes after you receive that discharge, trying to get back into debt again.  The measure of your credit score is that you are REALLY GOOD at paying someone else interest to use their money for something you can't afford.  Time to see the light people.  Credit is by its nature, a bad thing.  There is no math that puts you out in front even when you are getting points, cash back and free airline miles.  You are still ending up at the losing end.  Lets band together to stop this epidemic that goes on here.  Unless you have some sort of mortal emergency, I cant think of a single reason you'd need to get "rebuilding" and getting back into debt.  Please no flames here.  This is the real deal.

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You seem to have a fundamental misunderstanding of how credit cards work.  Paying interest is not inherent, it is optional. It is not necessary to carry a balance and pay interest in order to generate a good credit score.  Many on here PIF and do not pay a penny in interest.  All the while they are getting cash back and/or miles as a SUB.  Ongoing, we are earning discounts over cash and still not paying any interest.  The math is really easy.

[Anonymous]

I second this. As long as you are ahead of your 'debt', you can always use it and PIF once statement comes in. Use it as debit and in return it gives you rewards. No interest charged, you helped your credit. Everybody happy. Not you though, may we ask what happened specifically that made you so mad losing control of this so called epidemic?

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You seem to have a fundamental misunderstanding of how credit cards work.  Paying interest is not inherent, it is optional.  Many on here PIF and do not pay a penny in interest.  All the while they are getting cash back and/or miles as a SUB.  Ongoing, we are earning discounts over cash and still not paying any interest.  The math is really easy.

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[Anonymous]

You are entitled to your opinion re: the forum toxicity, however, remember that your membership and participation are not mandatory. No one is forcing you to contribute to or read the content here.

[despritfreya]

On the other-hand. . .  it is the propaganda that forums like this tout that keeps me in business. 

Run up debt for whatever reason.

File bk to get rid of the debt.

Think building credit is a "good thing".

Run up debt for whatever reason.

File bk to get rid of debt.

Still think building credit is a "good thing".

And so on, and so on. . .

I make bunches of money off of consumers who think access to credit, utilization of credit and buying stuff one can't afford is "the American thing to do".

Des.

[coreyb80]

I wouldn't say that these forums keep you in business, I would say the ignorance of people keep you in business.  End of the day life is all about choices.  You can either choose to be responsible with your credit or choose not to.  On the flip side of that coin, life happens and it happens fast.  Neither of us would be on this BK forum if it didn't.  

[dragontears]

Just wow at the attitude of asking for "no flaming" when your own post is so abrasive.

In regards to the "meat" of your post.
The number one reason I deal with credit and credit scores is to qualify for good mortgage rates. I am happy for you if you can pay cash for a house but for me (and the vast majority of people) it will be a very LONG time for me to have enough cash to buy a place in N California andeven if I had that much cash I wouldn't use it if I can geta loan for <5% and my cash could be invested and making >5%.
Bottom line (as others have said) is credit does not equal debt and in the big picture not all debt is bad (i.e. a mortgage)

[Anonymous]

I agree with rbentley, I am 3 months post ch7 discharge and I came here for tips on my rebuild. These posts have helped me understand how I got into my BK position in the first place and have helped me understand the importance of paying in full and not carrying a balance. So yes I am trying to get back into credit cards, because as far as I know there is no other way to build up your credit. Eventually, years down the line, I would like to be a first time home buyer, and I cannot do that without credit. I do agree that building up a savings is important as well, and I've been doing that also. But I think building credit is also important. If there is no reason for you to build your credit, then that's your opinion and that's fine, but for many others it's necessary.

[Remedios]

While I do agree that OP has some misconceived  notions in his post, lets keep it FSR, please. 

[Anonymous]

Some people get into trouble because they have a sickness as you call it ... not all... we all need to be self aware, know our limits and know what to do to stay out of trouble.

I dont like or agree with people having their credit dinged due to being debt free... but it is what it is so we get a credit card and pay it off before the interest... so we can make those large purchases like houses and cars (within reason)...unless we have a sickness like you said and then we are totally right for staying away from debt completely.

I agree that savings is the first step. I think there are a lot of people on here who mention savings being a priority on a regular basis.

This forum doesnt encourage running up debt at all... all I ever read is tactics to make money, save money and pay the bill weekly or prior to the billing statement (with exception of 10%-30% on ONE card that gets paid before interest kicks in).

I have learned a lot from this forum about how to not to dig a hole in the future and about how to play the credit game. I dont agree with everyone's tactics for rebuild or gigantic limit chasing but if they're disciplined and self aware enough to do that then good for them.

With my rebuild, i already have a decent savings account (it needs to grow more but its 2 months of living expenses and spending money). I have a plan I've started already for a certain amount to go into savings like it's a bill. My game plan and the plan I've been following so far is to not use my credit card for anything that I cant pay immediately. So, I have been waiting a few days till the purchase clears and immediately paying it. With the exception of 10% at the moment... I have it in the bank waiting to have the statement post.