Credit Card Debt Stories

I'm 26 and I have no credit history at all. I'm always needing to make a purchase online like air tickets or internet courses. Right now I am not able to get a loan for school, a home, finance a car, or even get a cell phone. Should I really get a protected card and work from there? If not, what can I do to establish even a wee bit of credit??!!!! I don't want to go into debt! THANKS

A credit card is a bad idea, but only for people with no common sense, as it's entirely up to you how you use it.
I find it saves me thousands just by enabling me to buy off ebay for instance, and every purchase I do with it is covered by insurance..... the cc deal is extremely simple:
just remember that it isn't your money, spend only if you
have funds to pay it back when the bill comes, and you will just fine.....
if you need more, get stuck into these, soak it all up over time and it'll help
build up your knowledge:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you!

2006-09-20 15:42:21 by yage v

Do you know the real cost of using a credit card? Robyn Beck does - now.

i have 1,200 of credit card debt...around 35,000 in student loans...its so stressful...i just enlisted in the USAF, and they are paying 10,000 of my student loans off

Don't worry about the numbers. It can be a lot to shallow, but in reality good business people deal with bigger values. You just have to get used to it, and learn to manage it. I had to go through the same thing, I made some poor choices during college and racked up huge amounts of debt.

Just to add, I really hate people like that lady who just said "None since I do not buy what I cannot afford"... wtf. Not everyone can afford college, and just because we can't afford it doesn't mean no one should go to college.

Anyway, its smart to be able to enlist in the military to help pay off debt. Serve country and get some assistance, we're only one of the few countries that do that (Many are mandatory). Its an option I'm planning to take once I graduate. On the bright side, at least you have a place to sleep and a job... think about all those people that lost their homes. Our student loans is actually more forgiving than their mortgage payments if you think about it.

I'm actually worried about my situation once I graduate... since the economy is in a downturn.

2009-03-27 18:07:57 by

Price: $7.58

I'm about 16 grand in the hole. I haven't paid any of it for the past 5 years.(yes, I know, I'm a slimeball) Yes, Its all in collections. I want to work on getting my credit back now but i'm frustrated at the lack of resources for "doing it yourself". I can't pay those high fees that most companies charge for such services.( if I had that kind of money i wouldn't be in this predicament) I know that there is another way. I know it will take me a long time to rebuild but i need to do it. C'mon People...TELL ME HOW.

they all have been charged off by this time, which means the original debt is over, however the debt can be sold to collection agencies over and over again thus keeping the debt open. The only way to do it is contact the original creditors and work out a payment plan for the a percentage of the debt. Remember they charged off the debt and they made their money by deducting form their taxes as a write off. Start very low and negotiate

2007-11-04 04:34:17 by sickytwisted

Price: $14.00

My husband and I recently purchased a house. Right before our purchase we found out about a delinquent credit card. To make a long story short, it was a credit card that was in my husband's name that he was to use when he was in college that his mom was supposed to be paying for. My husband had no idea that there was a delinquency until we were notified by our lender. The account has been closed since 2002. It states on his credit report that the "account closed at consumers request, charged off account, bad debt; placed for collections; skip." We do not want to bother his Mom about this. After no communication with Discover, for 5 years, we have now received a letter from Northstar Location Services, a collection agency (not from Discover), for a settlement amount which is 40% of the debt. What should we do, contact Discover, deal with the collection agency, or something else? I realize everything needs to be in writing beforehand, but can anyone advise me on this at all?
I will check out your other posts, Studly, thanks...as far as my concern with it, it is mainly because of the recent contact with the collection agency now after so many years. We were still able to get the loan for our house, so I am not really concerned about that part of it. Since it "technically" wasn't our debt, but my mother in law's, the bank didn't really care. Actually the amount was pretty significant, $3000 with an offered settlement of $1200, which is why I'm extremely surprised that we were not contacted before about this. I believe the statute of limitation on credit cards is 3 years in our state. I know they can still take us to court over it but its probably unlikely since the statute of limitations has run out. I just don't want to settle on an amount and still have it show up on our credit history for another 7 years. I think this just may be a last ditch effort by the collection agency to get some money and I just want to make sure we make the right decision.

If it was a charge off that means the company tried to collect and wasn't able to so they wrote it off. This is just probably one last attempt to collect. I'd contact Discover and see if they sent this to the collection agency. 5 years is really too long for them to wait to send it to collections. That just sounds fishy to me. Like a private agency trying to collect, on a creditors charge offs.

2007-06-05 14:46:11 by Randa

I have a friend that have a credit card problems and ask for advise. The story is he has a credit card from one of the bank but wants to go back to to his country and he doesn't want to pay for his debt with the credit card company. He owes a lot but do not have money to pay it so he just want to leave it. The questions is: is the credit card company will chase his even though he is not in the US again? and will his credit score goes bad? if it goes bad, can he fix it again in the future?

Thanks

You must always be careful with credit cards, car loans, mortgages and debt consolidation. Persoanlly, I was in debt of over $100,000 at one point in time, roughly 4 years ago. I am proud to say I am now DEBT FREE. It is very confusing on what to pay first how to chop down your debt, but there is a lot of good content out there to help. I have also started my own blog to help people out by talking about what I think is important. Check it out sometime!

http://credit-and-loans.blogspot.com/

2007-09-17 23:27:30 by greentealattes