Some heads are gonna roll...

[TiNi]

damn it  you'd make a fine cabana boy 

[Desmostro]

I just heard a financial guru who usually preaches paying off debt actually saying, "DON'T pay off your debt right now. As soon as you pay off your cards, they will close your accounts. You might be without a job for 8 - 10 months. Keep all your cash, pay minimum payments, hang in there. "

Depends on your situation though/ your career etc. If you don't mind down sizing etc. Having 0 debt would be nice.
Having a place to live is nice too.

I got laid off as well. 

i have a plan. and before you ask, no. it does not involve selling my body, so just don't even ask.
unless you are paying realyl well.   

i can actually pay off all of my debt with under half of the severance package and still have money to pay bills for another 2-3 months.
in the meantime i could get a flipping burgers or go back to being a bike messenger if i needed to. just somethign that would give me the money to pay the bills. fi that isn't working then it's time to downsize my life. i grew up without much, and i have only recently gotten to the point where i feel i can do pretty much anything i want without too much of a worry. i can go back if i need to.

and failing gettign a job, i'll be a burden ont eh state for a while and collect unemployment.

[NAKID]

I just paid off a credit card ($2000 limit, owed $1800) but apparently it was a few days late. I got a letter in the mail saying they had reduced my credit limit to $305!!!! We had never been late with them before and this is the shit they pulled. Called them up to see if they could be reasoned with . Needless to say, that account is now closed (we did it, not them). I don't need that card, we have plety of others that all have a zero balance as well...

[somegirl]

I have never carried a balance on a credit card and they just keep raising my credit limit.

BTW, I went down with a company a few years ago, and I have to say, it would have been far better to be in the first round of layoffs.  No severance, no COBRA, nothing.  Get laid off while the company still has some money.

[Sinister]

I just heard a financial guru who usually preaches paying off debt actually saying, "DON'T pay off your debt right now. As soon as you pay off your cards, they will close your accounts. You might be without a job for 8 - 10 months. Keep all your cash, pay minimum payments, hang in there. "

Just curious, who was this?

[Popeye the Sailor]

Just curious, who was this?

Some incredible dipshit who thinks carrying a balance in the first place was okay.

[ducatiz]

Some incredible dipshit who thinks carrying a balance in the first place was okay.

i bet not, i imagine he was saying "IF" you have a balance, and that's not a good thing in the first place, etc...

[herm]

carrying a balance is not a good idea.

what is a good idea is to regularly use the card  (gas for instance) and then pay it off on time. also, use it for a big purchase when you could have paid cash, and then pay off.

[KnightofNi]

damn it  you'd make a fine cabana boy 

but you don't have a cabana for me to boy at...

[Speedbag]

Some incredible dipshit who thinks carrying a balance in the first place was okay.

+1

Knight, good luck mang.

Keep the debt paid off and go with the flow. I'm personally waiting for my new job to go into the crapper at any time, but I'm stocked up in every way possible. Not that losing the job looks terribly likely (they seem to love me), I'm just a little negative about life in general these days.

[Ddan]

Start making these bar stools for kilt-wearers, you'll be all set

[TiNi]

  toooo funny