Credit Card Debt
Negotiate and Settle Your Debts: A Debt Settlement Strategy
Mandy Akridge (Paperback) CreateSpace 2011-01-25
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$14.79
Answers
I have credit card debt of about $14,000 (always paid on time and always more than mininum amount). I would like debt consolidation and money to repair (roofing, gutter & windows)the house with extra monies left over. I have never re-financed the house and pay 8% interest since "92"
You can get an equity loan.
My question to you is, "Are you ready to file bankruptcy?"
I just got hire temporary due to the extremely high number of bankruptcy.
It used to be 3 people on the staff, now more than 60.
Think twice befor getting an equity loan because I do not want to deal with your paperwork for bankruptcy along with the others.
debtrelief911.com - Get Rid of Credit Card Debt Now! Learn How to Eliminate Your Credit Card Debts in 90 Days Without Debt Consolidation or ...
I made the biggest mistake that a college freshman could make, I got a credit card. I racked up charges, than overcharged, payed the miniums, overcharged...it was all just one ugly desperate cycle. I've learned my lesson luckily rather early on, but my credit rating is totally screwed up now. I'm making payments every two weeks to pay off my debts and intend to be more responsible. What are some other things I can do to increase my credit rating?
Continue paying on time with more than the minimum. Try to pay until the balance is zero, then charge what you need to (should still be under 25% of your credit limit... I know yours is probably low as a freshman student card, but it'll increase over time!) and pay off ON TIME and IN FULL. This avoids that nasty interest that most credit cards love to charge.
Also, don't apply for new credit cards. Part of why your credit score is all messed up is because your credit history is tiny. The most recent activity, most notably the last 2 years, is what's most important in calculating your FICO score... You don't even have a score without 6 months of activity!
If you act like a responsible credit card handler, this information will affect you less over time... especially if you get an increased limit when you're out of college and use THAT responsibly, too.
Do you have student loans? These could help your credit score later on by giving you a better mix of credit, but don't freak out about paying them all off right now. The interest rates on these loans tends to be rather low and if you manage to reconsolidate your loan after you graduate, you may be able to lock in a great rate when your credit's shining.
would it be wise of me to ask for a bit more money, so I can pay off the credit card, that way all of my payment would go towards the balance of the personal loan?
Or is that just a bad idea?
It is a good idea if these three things are true (1) the interest rate on the personal loan is lower than the interest rate on the credit card and (2) you can afford the higher payment. Typically personal loans are only given a year or two for repayment period. (3) You will not get behind on credit cards again - just use them for small purchases and pay in full every month so you don't pay any interest.
Ask your bank (the one you want to borrow the roof repair from) what the two payments will be and make sure you can afford it. Even at a lower interest rate, the total out of pocket for each payment will likely be higher, but the good news is the loan will be paid off MUCH faster than you will pay off a credit card.
If you have 200K of debt, you should talk to a bankruptcy attorney.
I have about $5000 credit card debt on about 4 cards total. The debt has been in collections for 2 to 3 years. I have been working on repairing my credit but these 4 cards have done damage because I wrote them off. Should I contact these credit card companies and settle the debt and If I do will that have any effect on my credit score or will the score remin he same or will my score improve because I have settled the debt.
Well, people in debt often seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
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What do you do if credit card payments are included as a category ...
How can expenses from other budget categories be tracked clearly if "credit card payments" covering a variety of expenditures is used on the budget spreadsheet rather than the specific budget lines for each category of items paid for with a credit card?
For instance, if clothing purchases are paid with a credit card and listed on the budget line for "credit card payments" they cannot also be listed on the "clothing" budget line, or the budget will be out of balance. But if those clothing purchases are only included as part of the "credit card payments" budget line, it will not be clear how much was actually spent on clothing when reviewing the budget at the end of the month.
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