Credit Card confessions....

[Honda Guy]

Hello fellow TRF members,
I have been silly and it is time I come clean.

I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all.

I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches.

I bought the following pieces (i paid about $20K):-
Rolex 16233, 69173 (for the wife)
Breitling Navitimer
Cartier ladies Diablo
Omega Speedie

Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little.

I owe $60k excluding the home loan.

When do you think the market will come good again?