Credit Card Debt Not Paid

i had a small debt of $91.33 which is big to me because i am a high school student and i only have a part time job. so my bank is Wells Fargo and i had a debt with them for $91.33 i paid in cash to get that off and clear my name off the credit burou thing and i told them in person to CANCEL my card i do not want to use it anymore...and i also tore up the card and trew it away...now they are charging my overdraft fees and it is back up in the negative place again it is -$59.88 i am getting sick of this but i also need help what should i do?

Credit cards do not have overdraft fees. Is this a debit card that withdraws the money from a checking account? If so, you may have charged something before tearing up the card that didn't clear your account until later. You can ask for a statement of charges (or wait until the regular statement comes out, but sooner is better when disputing charges) and verify that you made the charge or dispute that it was not made by you. If it was not made by you, they should remove the charge. You may have to request separately that they remove any overdraft charges if they don't do it along with the other charge.

2007-07-17 21:45:27 by bball17

Good ways to get out of credit card debt include not using cards and quickly paying down cards with smaller balances. Stay out of credit card debt ...

Unfortanely, I have racked up credit card bills. I am roughly $6,000 in debt. I do have money going into my 401k, stock and other funds monthly. I am wondering if I should sell stock to pay off my credit card debt. I may be leaving my current company and could also take my profit sharing money versus rolling it over. I know I will have tax/fees with doing either of these. Doing one or the other would pretty much cover almost all of the credit card debt. Currently I make the minimum monthly payment on my credit card. Sometimes a little over. The interst rate is apprx. 12%. I wonder if using the stock or profit sharing would be wise or not. Once the credit card is paid I can stick the monthly credit card amount into savings or my 401k. What is the best thing to do? I had racked up credit card bills do to a medical situation and a few emergencies. All is good again and I want to be debt free. Any advice? Thanks.

I would not suggest it. Whatever funds you take out of a retirement account, will get slammed with back income tax, plus a 10% penalty. So taking $10,000 out would cost around 3,500-$4000. [1,000 penalty, and then $2500-$3000 in income tax (assuming 25-30% bracket)].

2007-10-07 07:48:25 by shygrl33

Price: $15.99

Every state is different, however yes, most states have whats called a statute of limitations on credit card debt. If you fail to take any action on the account then at a certain date (anywhere from 3-8 years) the credit card company can no longer pursue the money if they have not sued you within that time.

Be aware however, that if you take any action whatsoever on the account (paying a little bit, checking balances, calling to lower the apr) then you start the period all over again. Additionally, you can annihilate your credit by going this route.

Good luck!

2007-08-26 13:36:44 by lowiezowie

My family and I had an unplaned birth, and our now overwhelmed with medical expenses and the new expenses from the child. Since we did not have health insurance we became overwhelmed with bills. Over the last couple of years we have fallen progressively farther behind on our credit card bills. We have not made a payment on some of the cards in over nine month. Utlimately, besides lowering our credit score, is the consequences of not paying the cards. Can the creditors take our vehicles? Take money from our bank accounts? Garrnish our wages? We are very worried about our debt and would like to pay the debt off, yet feel very intimidated by the whole process. Thanks for any help

Since it's been several months since you have paid your credit cards I am going to assume that they have been written off and sold to collection companies.

What they can do is take you to court and get a judgment against you and your husband, at that point they can garnish wages (if your State allows it), attach bank accounts and file liens on any other property you may own.

If your cars are paid for they can be seized and sold to pay your debt. If you still owe money on them they can file liens to make sure that if you sell them they will be paid out of the proceeds of the sale.

All this on top or ruining your credit for 7-years.

2007-05-17 12:26:40 by Penny H

What is it that creditors know that they don't want the general public to find out about paying credit card debt?

there is no legal way to avoid credit card debt, and the debt consolidation companies are the biggest, most terrible scam out there. dont worry about it, it is an unsecured debt, things like mortgages, car payments and student loans are the important ones, along with utilities and food.

the credit card collection calls are what is annoying. dont listen to what the collector say about suing 95% of the time they are full of it, i've worked for a bank's credit card collection dept for years and i've only seen a hand full of loans with litigation. and even then the balances were 100K + which i'm assuming is not the case here...

2007-05-08 17:44:58 by Yahoo_Asker_G