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I have a good job now, and make pretty good money. I got all my college credit cards paid off, except for one. I was told that I can "settle" that credit card debt for approximately $450 less than what the full balance is (settle the $2,100 debt for about $1,650 if I paid in full). Problem is: I can afford to pay in full the whole $2,100...it is already on my credit report as negative because of it being delinquent so much (several times in about 3 years with no payment on the debt for 3-4 months). Someone told me if I settle for less, it will be worse on my credit report. But if its already negative...what is the better option? Keep in mind also that I closed the account about 2 years ago. Should I pay it off fully, or just settle and save money? Will it ever show up as positive on my credit report? Or just as "closed/paid off" status. Which is better? Sorry about all the parts to my question! :) Please help!!
i think, well paying in full might say a little more than paying a debt on sale by the agency.. for me i would also feel more comfortable not only showing a loaner that not only was my past debt paid in full, but without a collection agency's discount offer.. Also, remember collectors usually are happy as long as you show an interest in paying off your debt.
There are a couple of ways to pay off credit card debt, including getting a consolidation loan, making more than the minimum payment and starting ...
What is it that creditors know that they don't want the general public to find out about paying credit card debt?
Check with a bankrupcy attorney often the first visit is free..
the spouce had a long illness credit card debt went up to provide medicine shortly before the one died the other got sick and lost everything is now on disabity signed up for a program to make one monthly payment to that place and then they pay the creditors.now his illness is costly with the meds and there is no way he can pay the debt and go to the doctors medicine and just a rented place to stay.what legal action can be taken against this person he would pay if he had it but needs the medicine so on and the vehicle to keep appoinments is no longer able to work and never will be.
if he went on disability then he could afford to pay his bills
Price: $19.95
I've heard of companies like cureadebt.com that will settle your credit card debts for 70% of the amount owed. I've also heard of government grants to pay unsecured debt(credit cards), but I don't know where to get the info on them. I'm considering a second mortgage to pay these off with a lower interest rate. Thoughts?
We no longer use credit cards, so the balance only increases because of high interest rates.
Transfer your current credit card balance to an interest free card. This usually gives 9 months to pay off. Make paying off the debt your main priority above everything else. If you have balance at the end of the 9 months on the said card, transfer to another of the same free interest.By the way the credit card should not be used for any more purchases whatever. The sole purpose is to pay over all monies owing
I have 3000 dollars credit card debt about five years ago and after it for some reason i had to leave USA for good. Now I need to enter USA again but I'm still not able to pay it back, What would happen? Would I be sued and put in jail? Can I leave USA without being able to pay off the bill?
I mean I'm not a US citizen, will they be able to trace me after I enter US? And how could I settle the debt without being able to pay it off?
We don't have debtor's prison in the US. You won't go to jail.
It is possible that the creditor or collection agency that now owns the debt will come after you. Since you left the country, the Statute of Limitations (SOL), the timeframe to bring lawsuit, may have been tolled (on hold). They might just sue you. They would win a judgment and use that to garnish wages, attach bank accounts, and lien personal property.
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A Better Approach to Credit Card Debt
A Better Approach to Credit Card Debt
Credit cards can certainly be a great help for many people. It works just the same as cash, only that it is a lot more advantageous in most cases. Credit cards normally give you the possibility to pay for products today without having to buy them outright. What happens is that the amount you choose to purchase gets accumulated as a kind of debt and you ought to pay for it within the succeeding months. Which means that you many not actually worry today and plan your finances at a later time. However, because of this advantage of the credit card, people have a tendency to forget how to budget their financial situation well. On occasion, it can arrive at a point that they overspend, way beyond their financial ability. In turn, a lot of debt is then accrued which in the end becomes excessive for them to handle and find themselves having to look for debt advice .
...News
Little Known Steps On How To Pay Off Credit Card DebtUS Money Talk News - Mar 16, 2010
The GuardianWhile it may seem impossible to do so, there are several small steps that a person can take to pay off their credit card debt quickly. Use tax refund to pay down credit cardCapital One's credit card losses ease in Feb.Plans to cut credit card borrowing costs - -all 341 news articles »
New York Times (blog) - Mar 16, 2010
Even if most of the debt does get refinanced, companies may have to pay more, if heavy government borrowing causes rates for all borrowers to rise. “These Attack of the junk bondsall 7 news articles »
TMCnet - Mar 15, 2010
BigNews.biz (press release)However, while credit card consolidation often can provide you with better interest rates, it is important for you to recognize that your principal debt Free credit counselingReducing Credit Card Debt- How To Not Pay Back Your Unsecured Debts LegallyBad Credit Debt Consolidation – Debt Relief to Help Money Problems Today - -all 103 news articles »
USA Today - Mar 16, 2010
ReutersDodd's 2nd shot at financial reform still leaves loopholes or to exclude from its purview banks, credit card companies or non-bank firms such as debt collectors, credit bureaus, payday lenders or auto dealers," Girding for the Wall Street Vs. Main Street FightFactsheet: Senate Financial-Regulation Billall 1,136 news articles »
Telegraph.co.uk (blog) - Mar 16, 2010
CBS NewsMoody's, markets, and what the deficit means to youthen the Moody's figures suggest that we'll all end up doing 16 days' work a year just to pay off the interest on the Government's credit card. U.S., U.K. Move Closer to Losing Rating, Moody's Saysall 436 news articles »
Subprime Blogger (blog) - Mar 13, 2010
KVALThe Obama credit card debt relief program was created to help Americans pay off revolving debt as soon as possible. If you have been in a revolving debt rut Credit card debt largely written offCARD Act Could Negatively Impact Creditworthy Consumers' Credit ScoresCredit card users: Not so responsible after all? - -all 369 news articles »
Times Online - Mar 15, 2010
The GuardianQ&A: getting help with credit card debtIf you do manage to raise extra income, it is a good idea to pay more than the minimum repayment on your credit cards. Research by uSwitch.com, Lenders to announce new help for people in debtLenders to help those experiencing income shockall 27 news articles »
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