Sep 29, 2008 7:07 pm US/Eastern
What's Worrying You: 'I Rely On Credit Cards'
CBS 2 HD Spoke To One Woman On Long Island Who Says She Feels Every Day Is Like 9/11 All Over Again
MASSAPEQUA, N.Y. (CBS) ―
For the past week CBS 2 HD has been bringing you stories of people struggling to survive in this economic crisis. We asked you to e-mail us what's worrying you, and hundreds of viewers responded.
Ana Perez of Massapequa wrote: "I have a mortgage, equity, credit cards, car, etc. I am at the end of my rope. I feel as if I am back that day in 9/11, afraid for my life and confused!
"I just feel like I keep going into nightmare mode," Perez said.
For Perez, the nightmare began almost a year ago when she lost her job at a bank. Even though her husband is working, the lack of funds is fueling the fear.
"His salary and my unemployment is not enough," Perez said. "It's like maybe half what the bills are."
Perez has both a mortgage and home equity loan used for the kids' college fund and home renovations that are now on hold. To get by, she borrows from siblings.
"And my mom from her social security, which I don't like saying but she'll lend me a $100 here and there which helps."
She also turns to credit, lots of credit.
"Almost $8,000," she said.
She said she swaps balances with five credit cards. Asked how much she owes in total, Perez said, "About $20,000 [in credit card debt]."
Experts say what's happening in this home is all too common -- robbing Peter to pay Paul.
"What that does is start a vicious cycle," said Steven Burman of the Consumer Advocate Counseling Corp.
Burman said people like Perez need to talk with a counselor to figure out what debt can be dealt with.
"Getting everything on paper and really taking a look at what's possible. There's a lot of anxiety. There's a lot of fear around what is the right decision," Burman said.
Fear and anxiety is staring at Perez, who combs job listings every day. She doesn't want a handout, just a paycheck.
"Now I'm angry at the bank because now I'm sitting at home," Perez said. "I'm afraid to watch TV because I don't want to use electricity or I wash clothes and I hang them outside. Stupid things like that."
Things done to get by in these tough economic times.
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