btw, can some1 define serious credit card debt ??

I am no financial expert but for my personal principle, if your debt is worth one month of your total income, then I think it is serious

@vin_ann,
U should scroll back and read the past posts. #1 and #6 can be examples.

Internet's a little 'screwy' on my end so can't go through all the pages to give u all the posts

@ Tinkerbel,

thanks.

@jeff_ckf,
1 month isn't usually considered serious. A lot of people's debt gets into the 5 figures! *gulps*

I did say my personal believe and principle right Besides, 5 figure debt would be bursting redlining my credit limit already hahaha. Unless you are talking about redlining all of my cards Nvm not my cup of tea, I am mr cheapo

@jeff_ckf,
I personally don't like to be in debt and like to have at least 6-8 months of expenses in my bank account just in case. Investments are separate that way I know I have funds should any emergency arise or if an unfortunate situation beckons

Now I'm just abit uneasy with my house loan Other than that, I guess my road to financial freedom is pretty well paved. Hmm, I normally go for 6 months income rather than expenses. But I guess, your expenses would be equivalent or more than my income anyway so there you go

@jeff_ckf,
If Ur spending more than U earn, what use is keeping 6 months of income? With housing loan coming into effect, my expenses p/month has now increased to RM6k p/month.

Lol, spending more than what I earn was NEVER in my dictionary of finance But I do get your point But then again, taking a house loan is considered spending more than I earn That's probably the reason I feel uneasy....

I will try to keep all my plastics at home and only use them for petrol pumping

Must slog for 10 years for that humble abode of mine

@jeff_ckf,
It's a cycle we all go through and it's almost not possible to purchase a house using cash - if U could afford to accumulate that amount of cash, U probably would be aiming for a more expensive property *gulp*

I don't entirely agree with that actually hehe. I really believe it is a matter of preference. I would be pretty happy living in my old single storeyed house but I just got the new one coz I can see that my parents really like it. Heck, they visit the house more often than me

Back to the topic in hand, I wonder if the banks have the list of debts that make up all their 'customers' bad debt? It would be interesting to know what kind of items that they spend on until their cards get redlined

@jeff_ckf,
I think most would be due to CC debts, or default loan payments.

It doesn't look like I'm going to be able to afford another property anytime soon so no need to look out for now *grins*

tinkerbel, you sound like you are the teacher... =P

"ok, today we talking about... credit card fraud... flip to page 39 and do the case study"
HAHHAHAHAHAH... k i am bored...

anyway... i have heard of so many cases where they owe so much money till they just declare bankrupt... which they do it on purpose!!

@eRiCCa,
We're all teachers - whether U know it or not

I don't think it's fun to be declaring bankrupt; I know I certainly wouldn't

i used credit card very careful and never let bank earn ever one single cent b4...u need to buy something that is considered necessary and don let urself too stress when make a repayment

@goolie,
I act do haf friends who utilises CC's instalment plan payments - i wouldn't say they're bad at handling their $ cause they still do pay up at the end of each instalment, in full

Credit Card Debt Issue Very Terrible At Taiwan And Hongkong.

Singapore Too..

Malaysia Also Increasing..

Lol.. I'm 1 Of The Them =.="

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Added on June 25, 2008, 7:07 pmAdvise : Do Not Apply More Than 2Peices Of Plastic Card..

This post has been edited by SeaMonster: Jun 25 2008, 07:07 PM

@SeaMonster,
Y should we not apply for more than 2 CC's?

its all depends on ur own discipline larr...

alot of ppl having 5-6 plastic still living happily ever after....