Credit Card Debt In United States

i think average is $5,000

2006-07-07 09:49:44 by Murray S

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about 1 trillion dollars

2009-12-09 10:59:39 by QUeeee

i have a equifax score of 732 and locking for a long term credit card rate. I have no debt and pay my credit card bills on time. I owe less than 20% of my outstanding credit card balance

Bankrate.com is a good source for researching credit cards, checking accounts, savings accounts, etc.

2007-10-13 07:33:03 by collinsbah

I just discovered it still earning interest for non-payment.Will they be able to chase me here for thier debt recovery on me?

Here is the good news - the UK and the US operate under two very different credit systems. That's why when you came over here you had such a hard time bringing your money with you.

I can't speak for the UK, but here after there is no action on a debt for 7-years it is considered a dead matter and comes off of your credit report.

Now I understand that you live here permanently. Do you intend to ever go back? Are you still a UK citizen? If so check your laws over there and see how it will effect your benefits and the like.

If you intend to stay here permanently I don't see Scotland Yard sending a bobby over to collect the debt. Of course the best alternative is to make arrangements to pay the debt back. Unfortunately if you could you probably wouldn't be behind with them in the first place.

Oh, and welcome to our side of the pond mate.

2007-08-31 04:14:12 by dondon

i have not fallin behind on bills but a pay minimum my principal balances on 5 crecit card does not seem to go down due to interest finance charge i dont want to pay 30,000 in interest over 20yrs for this debt im thinking about filing bankruptcy i cant consolidate what should i do i wish i was never given credit cards at 18 i under stand no one forced me to use them and i am responsible to pay but this a the united states biggest scam credit cards should be abolished if i only knew then what i know now

and knowing this you just leased a car? in the short term look for a second job, using the money just to pay off the highest interest card.
you might want to see what the degradation in your credit score would do to your future career options. It's harder to get hired with a low credit score (bankruptcy). It's also harder to rent, and almost impossible to buy.
Figure out a budget, trim the costs you can live without, and stay on it. If you can pay an extra 20-50 dollars a month it will seriously reduce your long term interest. All extra money should go to getting this off your shoulders, bonus, raise, they should go to paying more on the cards. Pay down one card at a time, then use it responsibly. Then the second highest interest rate and so on.

That being said I still can't go more than 8 months on my budget, but now I take money from my savings to splurge instead of using my cards. and in 5 years my credit score has gone from 630 to 730 and its still rising. (thankfully you make more than I do) cause I could not make those payments and still buy food, and I was only 10,000.00 in debt. A budget really helps! I love excel.

2009-04-10 07:13:11 by Devaughn