credit card debt answers

Once a car is paid for, but two people are on the title one with good credit and one with bad can ca

2009-08-09T05:42:00.000-07:00

can the car be taken away to pay credit card debts if the car is paid off and in two people%26#039;s name (mother and daughter) If the car is owned by two people and one has bad credit can the car be take away if ths car is owned by two people?

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

No. A creditor cannot come take your car that is paid for.

A creditor can sue you and get a judgment. With a judgment, they can attach your bank accounts and take your money. In some states, they can garnish your wages.

However, a creditor cannot do anything without a judgment and to get a judgment, they have to sue you first. You%26#039;d have some advance warning on that as you would get papers served on you.

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

No. Never heard of that before ever. Don%26#039;t even think it%26#039;s legal. Did someone take your car? Better report it stolen. If it%26#039;s paid for no one can take it in place of other debt.

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

simple answer. yes!

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

Get the bad credit to go bankrupt or default under pardon . depending what state you are in.

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

only if you put the car up as collateral. Otherwise, they should not be able to take your paid for car.

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

once it%26#039;s paid for, it can%26#039;t be taken away.......unless you use it for collateral on another loan.

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

I take it from all of your questions that you are worried another creditor (not the car loan company) may seize the car for your past bad debts (that have nothing to do with the car)

Regardless if you are still paying on the car or it is paid off - if the car is under your name %26quot;and%26quot; your moms name - a creditor/collection agency cannot take the car for another debt. They cannot take it even if that creditor/collection agency gets a judgment against you for another debt !!!!

No matter what state you live in or whose name is first on the title.

The only way they can take it is if %26quot;only your name%26quot; is on the title, if you are married and you and your spouses names are on the title and you live in a community property state, AND If your state exemption laws allow it.

Rest easy, as long as your moms name is also on the title they cannot touch it.

If the vehicle is still under a loan and you default on that loan the creditor who carries the loan may take it.

Once a car is paid for, but two people are on the title one with good credit and one with bad can car be taken

depending on what state you live in if the couple is married yes it can be taken away.

the car can be taken to pay off ones debt

How much credit cards debts do you owe?

2009-08-09T05:41:00.003-07:00

I am depressed. I own about 13,000 and I am only 26.

How much credit cards debts do you owe?

debt consolidation

if someone wants to get out of debt today it is pretty easy with a debt consolidation plan

however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is:

http://umgarticles.atspace.com/debt-cons...

How much credit cards debts do you owe?

I owe about 80.00 on my card is all

How much credit cards debts do you owe?

$23,000 and I%26#039;m 24. Don%26#039;t feel too bad, this just means there was a good reason for getting a job besides supporting a drug habit.

How much credit cards debts do you owe?

zero..... zilch...... zip...... nada....... nothing..... Woo Hoo!!!!!

How much credit cards debts do you owe?

I do not believe in credit cards, it%26#039;s cash or nothing, maybe a check

How much credit cards debts do you owe?

a lot. i%26#039;m more than 20 years older than you are, and still deeper in dept. it%26#039;s the american way!!

How much credit cards debts do you owe?

Zero. I%26#039;m sixty-four and my wife is sixty-seven. We paid off 30,000 dollars or more twice, mostly credit cards. The second time we cut them up and threw them away, then canceled our accounts. We%26#039;ve been without credit cards for more than twenty years. If we don%26#039;t have the cash, we don%26#039;t buy it. It%26#039;s that simple. On credit, you buy what you want and pay for it later. You sell your future. Buying cash, you%26#039;re paying with past earnings which have been saved and your future is yours to do with as you wish.

Think about it.

How much credit cards debts do you owe?

I owe about 1200.

How much credit cards debts do you owe?

i use mine every day. 5% cash back at grocery stores drug stores and gas stations and 1% everywere else got back 954.00 last year.I owe nothing 100,000 credit line. and i used to be like you.get help there are lots of places 13,000 sounds like alot but you can get it payed off.

How much credit cards debts do you owe?

I don%26#039;t own credit cards and your problem is why I don%26#039;t..You have a spending habit beyond how much money you have to pay them back.once you get it all paid DO NOT HAVE ANYMORE CREDIT CARDS!! you are only 26 and your credit will most likely be ruined. I only pay with money what I want. Keeps it honest and me from being as you are.

How much credit cards debts do you owe?

I feel really bad for you. You need to get this under control and fast or you will end up paying back double of that amount in interest. Is some of this education expense?, I hope so. You need to read some of Suzie Ormans books and/or go onto Oprah.com and participate in the debt diet. It is when I read posts like these that I am so blessed that I was brought up to not use charge cards. My parents believed in paying for what they bought, and so do I. Do not be depressed, stand up and make this the time to make a change...for the better. You can feel better than most people your age, I believe the average amount owed on charge cards for a person your age in the United States is 60,000. Please get some help, it will be a huge weight off of your shoulders, then your depression will go away. Best of luck to you. Have a good night.

How much credit cards debts do you owe?

Take it easy with the depression. Let me ask you a question ? How much money do you think a new high flying company owes ? Do you think Yahoo is debt free ? Sun Microsystems ?

If I were your creditor, I would be impressed, or not impressed with how you handle what you owe. If you owe nothing, I would not consider you a good prospective customer if I were a bank.

You need to keep a tight hold on your funds and pay this money off, makes you look pretty good at 27 or 28 if you can do this !

Quit going out to eat so much, whatever you have to do ! If ever you can%26#039;t pay, go by, see the creditor, or at least write, explain what you are going through, make yourself totally available by telephone at home. Keep it away from work until you get it worked out !

I want a credit card. Am I qualified?

2009-08-09T05:41:00.002-07:00

Im a 19yr old student, I work but I dont get more than $1500(can) a month. i dont pay for anything or I dont have any debt... I just want a credit card because in the future I want to buy a house, a car etc and Ive heard if you want to buy one of those you need a good credit history. I wanna start now. Am I qualified? Also Im just gunna be using it to buy stuffs liek on eBay, rent a fancy car or something lol but then ofcourse I will pay them right away..

I want a credit card. Am I qualified?

yes you can get a credit card becouse

If you are under 18, it is a criminal offence for anyone to send you material inviting you to borrow money or obtain goods or services on credit or hire purchase. However, if you are over 14 but under 18, you can enter into a credit or hire purchase agreement if an adult acts as your guarantor.

I want a credit card. Am I qualified?

When you apply put in other income (ie babysitting etc) they dont check this out. The more available income you have the more likely they will give you a card.

I want a credit card. Am I qualified?

Yes, it will help with your credit as long as you use it wisely.

I want a credit card. Am I qualified?

Sounds like a good idea to start getting credit now.

As long as you%26#039;re earning wages, that%26#039;s enough for the credit card company to know you have a means of paying them back. Go to your bank. They have flyers offering their credit cards. Get a simple one that charges no yearly fee. Be sure to pay off the balance completely each month and you won%26#039;t have to pay any interest! Good luck!

I want a credit card. Am I qualified?

When you turned 18, you became %26quot;fair game%26quot; for the credit card sharks. Before you sign anything, join a credit union that has a credit card, shop for the best interest rates, negotiate with your credit union and don%26#039;t use it unless you can pay it off every month. That will establish a good credit record and you%26#039;ll have it for EMERGENCIES.

I want a credit card. Am I qualified?

if you got salary every week then you should, but it depends upon you if you want ti avail a credit card. those persons who had a great job and can gain more money should have the rights to avail a credit card, so do i already answer your question?

I want a credit card. Am I qualified?

fill 1 out and find out

I want a credit card. Am I qualified?

if you have good prove that you are not paying anything and that you will pay your card every month the i don%26#039;t think you will have a problem

I want a credit card. Am I qualified?

With no previous credit history, you will have best luck applying for credit cards specifically aimed at college students. Before applying and signing up, research the bank/issuer to make sure they are reputable and responsible. Read terms carefully and pay attention to annual fees. You seem to have your head on straight regarding credit (building a credit history and paying your full balance off each month--do not live beyond your means and rack up consumer debt) so go to it!

I want a credit card. Am I qualified?

If you have no credit, then you will not be able to get credit card. Go to your local bank, and get their credit card.

-------------------------------

http://www.bestcreditrates.net

I want a credit card. Am I qualified?

get a secured card at first. go to a search engine and type in secured credit card.

How to clear credit cards debts?

2009-08-09T05:41:00.001-07:00

wow, that is easy....pay them

How to clear credit cards debts?

I guess paying them would be the accepted way.

But if you are in way deep, get a det counselor to propose to them that they stop collecting interest so that you can pay them off, and then make payments proportional to each debt so that all can see that you are treating them fairly.

They will likely go for this if the alternative is bankruptcy.

How to clear credit cards debts?

Pay extra as well as your payment. Go get it refinanced into a personal loan, then chop your credit card up or only allow it up to a thousand limit, any banks or fiance offer to increase screw it up and put in in the bin.I know a lady that freezes her card and leaves it in the freezer, if she thinks she needs something it gives her time to think how important it is, while it unthaws 9 times out of 10 she puts the card back in the freezer. What a great idea.

How to clear credit cards debts?

There are some credit cards that gives you interest free period when you roll over an exisiting debt, then it gives you time to pay them off- by saving and working on a really tight budget and eventually you can hopefully reduce it down.

How to clear credit cards debts?

I just have some articles on credit card debt : Consolidate Credit Card Debt To Solve Financial Problems? , Reducing Credit Card Debt - It%26#039;s Never Too Late To Start , Credit Card Balance Transfer, if you are interest, you can take a look at http://avoid-bankruptcy-get-debt-consoli...

Help!! I have 12, 000 in unsecured debt, credit score 655....what are my options??

2009-08-09T05:41:00.000-07:00

I would like to somehow combine all of my credit cards into one or get a loan so that my payments would be less. I am currently paying a little over minimum payments because I cannot afford to pay anymore. What options do I have that won%26#039;t affect my credit negatively. I don%26#039;t have any late paymets, just two paid collections from 2004. My credit score is low because I am using so much of my available credit. Help please!!

Help!! I have 12, 000 in unsecured debt, credit score 655....what are my options??

A small loan consolidation with low interest is the best for your score. I found interesting information about your answer %26amp; options here. Goodhttp://all-debt-consolidation-loan.blogs... luck!

Help!! I have 12, 000 in unsecured debt, credit score 655....what are my options??

Trust me, I%26#039;ve been in your situation before. The best scenario is to call a credit counseling group. The one I called and helped me the most was InCharge Debt Solutions. They call and work with all of your creditors to get your interest rates dropped. You will keep about your same payment, but you will pay off all your debt in like 3 years.

www.incharge.org

It%26#039;s really awesome how it helped me. My credit score was like 645 and now it%26#039;s 700+. Try it out.

Help!! I have 12, 000 in unsecured debt, credit score 655....what are my options??

I am not sure of the other options given, consolidation loans prove to other creditors you had trouble meeting your requirements which is not good for credit if you get help to settle debt from an agency this also lowers your score for 7 years in canada i think just keep making your minimums or more when you can to keep your credit at 655 i think you will find those other options lower it more, you can check with a credit counsellor but I know in canada it would be worse for you to use the above options!!!

Can you get a 1st mortgage for more than the price of a home to be used to make repairs &/or pay

2009-08-09T05:40:00.003-07:00

Say the purchase price is 140k can you finance 160k and take the $$ left over to make home repairs and pay credit card debts off?

Can you get a 1st mortgage for more than the price of a home to be used to make repairs %26amp;/or pay debt off?

Only if the house is worth more than $160k but yes, you can use the extra money for whatever you want...I recommend paying off the car or getting a newer one.

Can you get a 1st mortgage for more than the price of a home to be used to make repairs %26amp;/or pay debt off?

only if the house appraises for the increased amount. the mortgage company will not give you a first mortgage for more than the appraised value.buy it and then take out a second mortgage, most of the time on a second mortgage they will let you go to 125% of the appraised value.

Can you get a 1st mortgage for more than the price of a home to be used to make repairs %26amp;/or pay debt off?

Yes, but not as you think...read on:

The bank considers the %26quot;value%26quot; of the home during a sale to be the lower of the purchase price or appraised value. In your case, that%26#039;s the purchase price. So in the bank%26#039;s eyes, 100% financing can not exceed $140K. However, there are some banks that will alllow you to go to 107% on a purchase and you can consolidate with any left over money, but you%26#039;re going to get killed on the rate.

The better idea is to purchase the home and once you take ownership, refinance to 100%. Once you legally own the home (after the purchase and purchase loan is completed) now the bank will consider the value to be the appraised value.

Be careful here though, not every bank will do this. It%26#039;s called a %26quot;seasoning%26quot; requirement. In other words, most banks will require you to own the home for 6-12mos before they will value it at anything other than the purchase price. However, there are plenty of wholesale mortgage companies that do not have seasoning requirements and will allow you to cash out after only 1 day in the home. Consult a mortgage broker for those programs.

Can you get a 1st mortgage for more than the price of a home to be used to make repairs %26amp;/or pay debt off?

There are few over 100% programs out there, They are very tough to qualify for. Typically you have to wait 6 months after the purchase. I do not know of anyone that will fill give cash out on a purchase.

Which credit cards are available for people in australia who have signed a section 9 debt agreement?

2009-08-09T05:40:00.002-07:00

over 12 months ago i signed a section 9 debt agreement in australia to get my finances in control.. Now that i have i want to obtain a credit card but have an extremely poor credit rating.. Can somebody tell me the name of a company in australia that can give me a credit card under this circumstance??

Which credit cards are available for people in australia who have signed a section 9 debt agreement?

So many credit cards available for people in australia. you can find a best credit card at: http://www.credit-card-forums.com/index....

Which credit cards are available for people in australia who have signed a section 9 debt agreement?

None. You came very close to becoming bankrupt. Try to control your spending. You have been given a second chance %26amp; a normal life by mot having to duck around debt collectors. Think yourself lucky.

Another person has debts on my credit cards. How do I make him pay?

2009-08-09T05:40:00.001-07:00

We were together with my ex boyfriend for several years. I made him an authorized user on two of my credit cards. His debt now is about $25,000. We are not together any more and he keeps paying only minimum payments. How do I make him pay? Since both of the credit cards are under my name, it looks like I have that debt. I trust him, but still want to make sure that I will not end up having to pay his debts. Especially since he has been planning to move back to his country in Latin America next year. What should I do?

Another person has debts on my credit cards. How do I make him pay?

http://answers.yahoo.com/question/index;...

I asked basically the same question again for you, check out what people say.

court is the only answer

FIND A GOOD LAWYER

your lawyer will cost at least $1500.

and thats just starting off. it depends on how much time it takes to finish in court.

is $1500 worth it? oh wow! you said $25000 jeez!

I%26#039;d hire the lawyer

You need to slow down on the credit too. Sound like the credit card companies baited you Real Good.

First, can you produce copies of his signitures on these purchases?

since he%26#039;s bound to the bill, and he%26#039;s making payments, I don%26#039;t believe there is anything you can do.

the creditors like this situation because they make more intrest. They might not help you at all!

NEVER EVER let your next or any boyfriends share accounts with you. Just learn from this experience and don%26#039;t ever do it again, for me, please. thank you

Another person has debts on my credit cards. How do I make him pay?

Take him to court.

Another person has debts on my credit cards. How do I make him pay?

Not much unless you sue him, but if he has no money you will loses more. You have learned an expensive lesson, don%26#039;t let anyone use your credit.

Another person has debts on my credit cards. How do I make him pay?

if you can get him to write a note saying he owed you this money or tell him you will take him to court if he don%26#039;t pay then get you a lawyer and make him pay for what he has done. And please learn from this mistake that some men%26#039; s only want you for your money not your love. they don%26#039;t always have to no what you got in your account because if they do then everything will crumble.

Another person has debts on my credit cards. How do I make him pay?

Unless you have a written contract, you probably won%26#039;t even be able to sue him successfully. You authorized him to use the card, and you%26#039;re responsible for the debt. If he skips, you%26#039;re SOL.

If you can convince him to pay more, great. Otherwise, take the minimum payment he%26#039;s paying and be glad to get it. In essence you loaned him money without any written agreement. Sometimes that%26#039;s called a gift.

And if you haven%26#039;t already, remove him as an authorized user so it doesn%26#039;t get worse!

Another person has debts on my credit cards. How do I make him pay?

You have a real problem .. you are going to be screwed for sure .. If you can, get him to sign a legal document in front of a notary accepting that the debt is his ..and then hope for the best. If he leaves you may have to just pay it off yourself or file bankruptcy to get out of that..The credit card company does not care who created the debt..YOU allowed him access to your card..you are stuck with it!

Another person has debts on my credit cards. How do I make him pay?

If he is just a co user on the card, there is nothing you can do. Perhaps he can get a loan to pay off his portion on what he owes, but I doubt that would happen. I would notify the 3 Credit Bureaus that you want to be notified of any new inquires.

Another person has debts on my credit cards. How do I make him pay?

Take him to court. The only way to force payment is with a Civil Lawsuit.

Can a credit company which charged off my unsecured debt (found?

2009-08-09T05:40:00.000-07:00

Can a credit card company which charged off my unsecured debt (found this on my credit report) now turn around and sue me to pay them now that it is charged off and now and threaten a default judgment...I ended up signing a stipulation with their attorney reps, but I thought this was unsecured credit? I live in Florida if this makes any difference...doesn%26#039;t unsecured mean UNSECURED??please give me a worst case scenario if I can%26#039;t pay...thank you

Can a credit company which charged off my unsecured debt (found?

Good question that would be one for an attorney, or accountant.

Can a credit company which charged off my unsecured debt (found?

Florida is notorious for granting judgments to companies that use illegal means to sue a person. I have a judgment against me from 13 yrs ago in Florida that should have never been granted in the first place. Anyway I am pretty sure that if they %26quot;charged-off%26quot; the debt there is nothing more they can do to you other than continue to report it to the credit bureaus for 7 yrs.

Can a credit company which charged off my unsecured debt (found?

I%26#039;m not a lawyer, but having been through the exact same situation when I was starting out with credit as a wee youngster in my twenties, I can tell you the answer is AB-SO-LUTE-LY!

A company charges off bad debt as an accounting maneuver. Not sure of the specifics, but it comes down to the fact that they can%26#039;t carry bad debt on the books forever. They charge off whatever they charge off in a given period and that gets it off their books and off their balance sheet, because they realize they%26#039;re not likely ever to see the money.

Never, never confuse accounting practices with debt forgiveness. Just because they %26quot;charge off%26quot; your debt does not mean you are released from the obligation. They retain the right to liquidate this debt, if they can. (If they are successful at doing so at some point in the future, then the %26quot;chargeoff%26quot; is essentially reversed in their books in some future accounting period.)

All %26quot;unsecured%26quot; means is that if you don%26#039;t pay, they have no real means of enforcing a judgement against you, like they would with a secured debt. We all know what happens when someone doesn%26#039;t pay their mortgate. The bank forecloses, someone gets a great deal on the house at auction, and the bank gets its money. Most of it, anyway, usually. Without a pledge f cash or property to secure a loan, the credditor is at the mercy . All they can do is try to cajole you, bully you, threaten you, scare you into paying. Or they can decide it isn%26#039;t worth the time and money they%26#039;d spend doing so and just forget about it.

More likely, they will sell your obligation, along with many others, for pennies on the dollar to another outfit -- a bank, a credit collection agency, etc. -- who then becomes your creditor and they begin tacking on fees and interest while they badger and pester you to pay. You can continue to refuse to pay, but they can continue collection efforts indefinitely, including renewing the entries on your credit reports every year. Everyone knows that after seven years, they have to remove the entry from your credit report, right? Yep. But if they (or a successor company) make one demand a year for the rest of your life for you to pay that obligation, and you refuse or do nothing, they can place a NEW record of the debt in your report. The original will fall off after seven years, but the new one has a new seven year life.

The bottom line is the debt isn%26#039;t going away. You can ignore it and very likely get away with never paying it, but it may cost you the ability to get any other credit, including car loans, mortgages, etc. Or at least it may cost you in the form of higher interest rates for those loans.

Bottom line? Get the stuff paid off, it%26#039;s not going away. Negotiate it down. Even if you pay less than the full amount, if they agree to accept less than the full amount and discharge the debt, then it%26#039;s legally cleared. If they %26quot;charge it off%26quot; it%26#039;s not going anywhere, they%26#039;re simply telling you and anyone reading your credit report that, in their opinion, you are a deadbeat and will never pay this.

Can a credit company which charged off my unsecured debt (found?

Persons who do not have anything to offer as the collateral or security, can take unsecured bad credit debt consolidation loans. The lenders find themselves at increasing level of risk while giving such loans. The existing bad credit situation and lack of a collateral, make them charge high interest rates and offer low loan amounts to offset the risk involved. But, a person who has a bad credit and cannot provide a collateral has little choice, but to take these high interest loans. At least by repaying these the borrower can rebuild his credit history.

Deciding which bad credit debt consolidation loan is right for you can be a daunting task. Many companies offer free debt consolidation help to those who are cash strapped. It is good to take such advice because the professional expertise of such companies can help you decide better. Again, it%26#039;s you who will have to be very cautious about the interest rates, repayment period, late payment penalties and other fine prints that come with the bad credit debt consolidation loans. Following the repayment schedule can help you write off the bad credit ratings from your credit history. Read more from: http://www.credit-card-gallery.com/credi...

Can a credit company which charged off my unsecured debt (found?

Do you owe the debt? Then, yes, they can sue you. They can sell the debt to another company for collection.

Unsecured simply means they can%26#039;t take away property or assets that would have secured the debt. Also in bankruptcy filings much of the unsecured is simply wiped away.

Can a credit company which charged off my unsecured debt (found?

Yes, they can. UNSECURED means there is no collateral, that%26#039;s all. You owe, you don%26#039;t pay, they collect. That%26#039;s how it works.

Currently having troubles paying off my credit cards, about $9K in debt, can anyone give me some adv

2009-08-09T05:39:00.003-07:00

I am employed and currently working...but I can%26#039;t really make the min. payments and alot of the cards became overdrawn through finance charges. Got into this situation b/c I had a roommate issues (he%26#039;d never ever pay on time)...and I had to use most of my funds to pay the rent. Living @ home again now though...but...yeah I need help =(

Currently having troubles paying off my credit cards, about $9K in debt, can anyone give me some advice?

call a certified credit counselor--they will help you with setting up a plan like they did with me. they lowered my interest and payments--consolidated it into one payment and really helped me look at my budget. My credit is so much better and i can actually save money now! they are not a settlement company--you pay all of your debts and you see that on the monthly statements that you still get from your credit cards.

here is the website to the company i used. I would highly recommend them--my mom even uses them now to!

http://www.debtcounselingcorp.org

Currently having troubles paying off my credit cards, about $9K in debt, can anyone give me some advice?

call them and let them know asap!! MAYBE THEY CAN LOWER YOUR INTEREST RATE--

Currently having troubles paying off my credit cards, about $9K in debt, can anyone give me some advice?

Get a second job for a time and sell stuff to get the balance down.

Should I try and settle my debt directly with my credit cards?

2009-08-09T05:39:00.002-07:00

I have a small amount of money coming in and since I have been late paying my cc bills, I was wondering if anyone had any advice on trying to negotiate a settlement amount with my credit cards directly?

Should I try and settle my debt directly with my credit cards?

Only if they are in collections.

Be careful, and get the agreements in writing before you pay a single cent.

Here is a good site that is packed with info about debt settlement.

http://www.expert-credit-advice.com/debt...

You should also check out the free credit repair kit, it has free downloadable debt settlement offer letters for lump sum offers and installment offers:

http://www.expert-credit-advice.com/free...

Should I try and settle my debt directly with my credit cards?

You should hire a pro they know how to handle the negotiations try credit counseling services look on line.

Should I try and settle my debt directly with my credit cards?

Lets see, if you only have a small amount coming in so as you can not pay the cc bills on time how do you expect to settle with the cc people direct when to settle with them means to pay off the cc in full at a lesser amount that owed.

Am I missing something here.

Should I try and settle my debt directly with my credit cards?

Try Consumer Credit Counseling Services to negotiate on your behalf.

Should I try and settle my debt directly with my credit cards?

As a rule, once the accounts have been turned over to a collection agency, you are better off negotiating with the agency.

Creditors and agents have a contract, and the agent will get their % regardless. But typically, the contract is for 6 months from the date of last payment to the agency.

This means the agency must collect, or the creditor can send it to another agency.

Bottom line, the agency is more likely to settle than the creditor. They have more to lose by NOT settling.

Should I try and settle my debt directly with my credit cards?

PLAYING THE CREDIT GAME

If you live in the U.S., whatever you do, DON%26#039;T PAY THESE BILLS OFF WITHOUT FIRST READING WHAT I WROTE BELOW!!!

HOW BILL COLLECTORS WORK

When you have bad debt that goes into collections (after being late/unpaid for 180 days), these debts are sold off to bill collectors (essentially, scum bags run by the mafia). The original bank or creditor is no longer collecting it. Instead, it gets auctioned off to scum bags who buy it for pennies on the dollar. What they do is they turn around and try to scam you for the full value of the original debt PLUS interest and penalties, which can almost double or triple the original balance.

DON%26#039;T NEGOTIATE WITH TERRORISTS OR SCUM BAGS

Whatever you do, don%26#039;t negotiate with so called %26quot;non-profit%26quot; credit counseling agencies! They%26#039;re in bed with debt collectors, and are run by scum bags and mafia! I%26#039;m not kidding. I%26#039;m dead serious. They%26#039;re run by the same people as the debt collectors!!! And they charge ridiculous fees, a certain percentage of your balance. Non-profit my fat buttocks!

THE (EMPTY) IMPLICATION OF LAWSUITS

It%26#039;s important to be aware that debt collectors often hire lawyers to write letters on their stationary to make debt collection notices sound more %26quot;official%26quot; and use the empty threat or implication of a lawsuit to scare you into paying them what I consider ridiculous financial rape. To understand better, read more below. Regardless, the law requires them to identify themselves as a %26quot;debt collector%26quot;. So if you%26#039;ve received any letters from so-called lawyers, go back and re-read the letter and you%26#039;ll see that somewhere in small print, it%26#039;ll identify the letter as an attempt to collect debt! NO WORRIES! Treat these bastards as you would any other debt collector and ignore the legal stationary. In most cases, lawsuits are rare and never happen. The costs of litigation are too high to sue for every collection case.

It%26#039;s funny, too. If you have one of these so-called letters from lawyers, notice that they don%26#039;t explicitly say they%26#039;re going to sue you. That%26#039;s because by law, they can%26#039;t say they%26#039;re going to sue you unless they actually plan on following through! So, all in all, it%26#039;s just a ruse to scare you.

So unless you%26#039;ve got lots of assets, don%26#039;t worry! Sleep well, eat will, and live long and prosper!

TELL THE SCUM BAGS TO SUCK IT!

Send a cease-and-decist letter to the bill collectors, which basically tells them to shove it. This is mentioned in section 805c of the %26quot;THE FAIR DEBT COLLECTION PRACTICES ACT%26quot;.

Here%26#039;s an excerpt:

----------------- except from FDCPACT Section 805c -----------------

%26quot;(c) CEASING COMMUNICATION. If a consumer notifies a debt collector in writing that the consumer refuses to pay a debt or that the consumer wishes the debt collector to cease further communication with the consumer, the debt collector shall not communicate further with the consumer with respect to such debt, except --

(1) to advise the consumer that the debt collector%26#039;s further efforts are being terminated;

(2) to notify the consumer that the debt collector or creditor may invoke specified remedies which are ordinarily invoked by such debt collector or creditor; or

(3) where applicable, to notify the consumer that the debt collector or creditor intends to invoke a specified remedy.

If such notice from the consumer is made by mail, notification shall be complete upon receipt.%26quot;

----------------- except from FDCPACT Section 805c -----------------

By law, the debt collect must return the debt as unpaid/uncollected to the original bank/creditor and destroy your records, or they can take legal procedings against you. They are allowed to contact you in writing ONE LAST TIME to inform you of their actions (ie. if they are suing you, if they%26#039;re returning the debt to the collector, if they%26#039;re going to run off and cry to their mommy, etc.). Unless you%26#039;ve got valuable assets, the most they%26#039;ll do is probably terminate the collection.

If you don%26#039;t know how to write a cease-and-decist letter, there%26#039;s plenty of websites that will provide templates for cease-and-decist letters.

NOTE: This will simply cause the constant harassment to cease, it won%26#039;t dismiss your debt!

REMOVING THE NEGATIVE ENTRIES

After a little over 1 month of sending the cease-and-decist letter, contact each credit bureau where you have these negative entries and request to have these debts verified/validated. The credit bureau will then contact the collector and the collector will be unable to locate your records (per having destroyed your records after the cease-and-decist letter). After 30 days, if the debt collector cannot prove you owe them this balance, the credit bureau will automatically remove that entry.

NOTE: Only negative entries added by debt collectors (who have returned your account to the original creditor) can be removed in this method. You will still owe the original creditor.

PAYING OFF THE ORIGINAL CREDITOR

Once the entry has been removed, contact the original bank/creditor IN WRITING and arrange to make FULL payments in return for a %26quot;paid as agreed%26quot; entry on your credit report, OR simply removing the account from your credit report altogether. Make sure you get this agreement from them in writing before sending even a dime to them!

THAT%26#039;S TOO MUCH WORK, I JUST WANT TO PAY IT OFF

If you don%26#039;t want to deal with all the steps above, simply contact the creditor/collector IN WRITING and get them to agree to mark the entry as %26quot;paid as agreed%26quot; or remove the negative entry from your report in return for full or settled payment. Make sure you get this in writing!

CREDIT REPORTING AND THE 7 YEAR CLOCK

As for your credit, it takes 7 years from the date the account went into collections to fall off your credit report. Don%26#039;t make any payments or disputes or requests to verify/validate a debt unless you intend to pay it off! You could easily screw yourself over!!!

If you make a partial payment or unsuccessfully dispute or verify/validate a debt, it%26#039;ll reset the 7 year clock. So unless you%26#039;re absolutely certain that a debit is invalid or a debt collector has removed you from their records, DO NOT DISPUTE AN ENTRY.

Always PAY OFF IN FULL any balances you wish to pay off! Otherwise, partial payments will simply propagate the bad credit and reset the 7 year clock. For example, if it takes you 20 years making minimum payments to completely pay off a $5,000 loan, with each payment you make to this bad debt, the 7 year clock is reset and it will stay with you for another 7 years plus 180 days (180 days is usually how long it takes to go into collection). In other words, you%26#039;ll be stuck with this negative credit entry for 27 years and 180 days, even if you%26#039;ve paid it off after 20 years!!!

I%26#039;M A LITTLE BASTARD AND REFUSE TO PAY

If you%26#039;re a little bastard and simple don%26#039;t want to pay, just wait until the statutes of limitation pass and then you%26#039;re scott free and they can no longer collect a dime from you. Of course, there%26#039;s your guilty conscience and the ghost of Christmas past that will haunt you for life!

VERY IMPORTANT: Keep in mind that you can%26#039;t escape the government or student loans! So make sure you pay up or arrange for payment plans if you owe the government or any student loans.

Also, if you choose to be a bastard and you own any valuable property or have any large amounts of cash stashed in a financial account (such as a house, an expensive car or boat, stock brokers, IRAs, savings, checkings, EXCEPT for 401k%26#039;s and perhaps 403b%26#039;s which are protected from creditors), there is a chance the creditor or debt collector could sue you. This really depends on the state where you opened the account.

For a list of statutes of limitation for debt, check out this website:

http://www.bankrate.com/brm/news/cc/2004...

WHEN CREDITORS ATTACK (HARASSMENT)

As an additional tip, by law, debt collectors cannot threaten or harass you. This includes neighbors, friends, family, unwanted calls to your work place, and empty threats of lawsuits or arrests. If they threaten you with a lawsuit, they MUST follow through or else they%26#039;ve just violated your rights! If they do, they%26#039;re violating your fair debt collection act rights and you can sue the MOFO%26#039;s for violation of your rights! These are all highlighted under section 806 of the FDCP Act.

To learn more about your rights under the %26quot;THE FAIR DEBT COLLECTION PRACTICES ACT%26quot;, you can either read the FTC website below:

http://www.ftc.gov/os/statutes/fdcpa/fdc...

For a summary, visit this website:

http://www.ftc.gov/bcp/conline/pubs/cred...

Or check out the Wikipedia entry here:

http://en.wikipedia.org/wiki/Fair_Debt_C...

If a bastard debt collector is harassing you or violating any of your rights, file a complaint! Be sure to document every phone conversation, snail mail, or harassment you experience.

https://rn.ftc.gov/pls/dod/wsolcq$.start...

Here are my tips summarized:

*** Credit entries last 7 years (10 for bankruptcies).

*** Every state has its own statutes of limitation for debt that protect you from collection after so many years.

*** Don%26#039;t negotiate with terrorists or scum bags (aka debt collectors or credit counseling agencies).

*** Send cease-and-decist letters to tell debt collectors to shove it!

*** Don%26#039;t agree to anything unless it%26#039;s in writing!

*** You have the money, therefore, YOU HAVE THE POWER! You are in control, so make sure creditors remove any negative entries on your credit file before sending them a single dime!

*** Don%26#039;t pay any old debts unless you really intend to pay it off! Partial payments or debt validation/verification attempts will restart the 7 year clock, if not paid in full or completely removed from your file.

*** Don%26#039;t let creditors harass you! Sue them for damages and violation of your rights. Put yourself in the driver seat and let you dictate the terms!

*** Keep written records of every transaction or discussion, and be sure to report any violations to the FTC.

*** You can%26#039;t escape the government or student loans! So don%26#039;t even try.

CAN ANYONE TESTIFY TO THIS?

In my own personal experience, I owed over $30k in debt that I couldn%26#039;t pay off due to being laid off during the dot-com bust. The collectors want over $60k after penalties and interest. I laugh in their face. I haven%26#039;t paid a dime and I sleep very well at night. I only have 2 more years to go before I have a perfectly clean credit, and 1 more year to go before I%26#039;m off scott free (I live in Oregon --- the statutes are 6 years). I guess I took the bastardly approach! But whatever. I don%26#039;t see the difference between being a bastard and filing for bankruptcy; they%26#039;re both bastardly!!! Just that a bankruptcy will screw you over longer (10 years instead of 7). Doesn%26#039;t take a genius to figure out which option is easier.

If you didn%26#039;t get my subtle hints, I%26#039;ll spell it out for you. The FDCP Act clearly protects you and provisions you with certain unalienable rights. Although I don%26#039;t out right advocate NOT paying, I do want to highlight that for the average American, between filing bankruptcy and being a bastard, it%26#039;s much easier and makes more sense to just not pay. In other words, if you%26#039;re not rich and can%26#039;t make a settlement to pay off the account, you%26#039;re probably better off just letting the debt die on its own. Some states, like North Carolina or New Hampshire, have a 3 year statute limit for written contracts. This means after 3 years, you don%26#039;t owe them a dime except per your conscience.

And as a testiment, even with my bad debt still shadowing my credit, I just bought a new car for 14.9% APR through CitiFinancial. Not bad at all! And for those of you new to auto loans, 14.9% is actually very good for having bad credit. The best thing about this is that an auto loan is one of the absolute best ways to build/rebuild your credit.

And if you%26#039;re worried that bad credit will hurt your chances of getting a good job, let%26#039;s put it this way --- I work at a major internet company (I can%26#039;t say which, haha!). Suffice to say, it%26#039;s a very big one --- in fact, the one with the biggest audience. Anyway, the background checks are notoriously hard to pass, but I passed with flying colors. My point is, bad credit alone will not doom you to low paying fast food jobs. Certain jobs, such as banking or billing jobs, do require optimum credit. However, for most other jobs, your consumer credit record has no bearing. Employers are more concerned about your employment, criminal, and public records. Coincidentally, all these are also available as part of your credit report. Go figure.

Capital One credit card letter?

2009-08-09T05:39:00.001-07:00

I recently applied for a capital one credit card and was denied due to %26quot;too many delinquent past or present credit obligations%26quot; At the bottom of the letter it says %26quot;If you feel you have additional information you wish to submit to us that might influence our decision, feel free to write us........blah blah. Is it worth trying to write them back to change their minds or is the decision already made. I have copies of my credit reports and I owe under 1500 all together. Most of which are hospital bills. I am due to have a child any day now and i would like to get a credit card to pay off my outstanding debt. I have a steady job and could easily pay the card off every month. Would anybody be intrested in writing this letter for me because I really don%26#039;t think I would do a good job on it...lol. If not would someone help me write one?

Capital One credit card letter?

No ,it will not make a difference.

BUT, what do you mena you want to get a credit card to pay off your debt? Do you have any idea how foolish that sounds?

You pay off debt by sending in money, not by moving it to another card!

Capital One credit card letter?

Writing a letter probably won%26#039;t do you any good. However, since you were turned down for credit you are entitled to a free copy of you credit reports. There should be a number to call on that letter somewhere to get the copy. I would send for it and see exactly what is on your report that is hurting your credit.

Capital One credit card letter?

That makes no sense..you want another credit card to pay off past debts? That isnt%26#039; going to help, just send in money as you get it...

Capital One credit card letter?

You are a bad credit risk by their criteria; no amount of additional information will change their minds.

And I believe they are correct, seeing as how you want a card so you can pay off medical bills. Rather than getting a card, work out a payment plan with your creditors.

Capital One credit card letter?

I would just try another credit card company.

Capital One credit card letter?

You may have a chance if you can show that your credit payment issues where in the past and that for say the last two years everything has been paid on time . You might show that you were out of work at the time the delinquant payments occured .

You should be able to arrange a payment plan with the hospital. Many are aware of the financial problems that people can have and will often work with you to get them paid off.

Capital One credit card letter?

you don%26#039;t need a credit card us cash.

How can I use my credit card's benefits without the credit card companies making any profit?

2009-08-09T05:39:00.000-07:00

I just was approved for both an AMEX blue credit card and a Chase Freedom credit card. Can anyone give me strategies that work while dealing with the credit card companies. I always payoff my debt at the end of the month but will I still be able to collect my benefits while the credit card companies not making a profit off of me.

10pts for that person who answers my question well

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

If you%26#039;re looking to prevent a credit card comapny from making ANY profit off your use of the card, then stop now. The credit card company will always take a percentage of your sale, from the merchant (not from your pocket)...so if you%26#039;re looking for them to make NOTHING from you, just don%26#039;t get a card.

If you%26#039;re looking to prevent them from making anything directly from you, then get a card with no annual fee, and pay off your bill each month. In fact, if you do this, you are cutting into the company%26#039;s profits in that you%26#039;re in effect getting an interest free loan.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

Credit card companies do like people who pay off their bills in full at the end of each month because they do not make any money on them. They are counting on you to pay the mininum amount due and by paying that amount they will be making money by earining interest from you. So if you really want the best benefit pay your bill in full each month and save money.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

The only way you can limit the profit the credit card companies make is not to use them. When you use the card the merchant you buy from pays a fee. that is out of your control. Believe you me when I say you can not outsmart these people. If you try anything fraudulent they will prosecute you to the fullest extent of the law and then some. Even asking this question could be construed as fraud foreknowledge.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

You can%26#039;t. As was said before, merchants pay anywhere from 2 to 3 percent per transaction. Even more for reward cards and American Express. So even if you don%26#039;t pay interest they make easy money.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

the answers above say it right on.

the slave cards consider u a DeadBeat because u pay your bill on time and in full.

now any purchases u do create profit for the salve cards through the merchant.

use CASH and you get more benefits than u know. visit daveramsey.com to learn what they pray u never ever learn or worse APPLY.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

It really is incredible when it comes to the various possibilities of how you can benefit from a cash back credit card. Here are a few things you need to look for when you choose yours.

The first thing you need to know about cash back credit cards is that some of them come with incentives. Some of these could be pretty good so you may want to start by looking at them. A couple of them will give you as many as 10,000 points which will go toward whatever the focus is of that credit card (air miles, hotels, etc.). If one of these will best suit your needs, then you would want to look at that particular card a little further.

The next thing you want to consider is the interest rate. This can vary anywhere from about 7.99% up to 18.24%. Normally, this interest rate does not go into effect until the introductory period runs out - but it will eventually. So, if you allow balances to remain on your credit card, you will want to choose one with as low an interest rate as you can.

read more at: http://www.card-gallery.com/article/109,...

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

As long as you pay in full every month before your grace period is up it will cost you nothing to use the benefits. For every consumer that does this there are tons who carry a balance. The benefits are nothing more than a sales pitch. So what if they lose a little bit of money on you. Thousands of other consumers are paying dearly.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

Yes you will.

Even if you are a %26quot;transactor%26quot; and pay off your card bills at the end of each months for the rest of your life, companies will still make a small profit - its called %26quot;interchange%26quot;.

When you buy a $100 item - the merchant gets only about $98.00 - 98.50 - the balance of $1.50 - $2.00 goes to the bank - so they make a profit from you through the merchant.

Obviously they will make more if you %26quot;revolve%26quot; and pay interest - but they have others that will do this - so don%26#039;t worry!

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

The sole purpose of credit cards is to make money off the person using it. A good way to minimize this is to pay the balance off in full each month.

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

i pay in full every 21 days. i collect free bonus points. i get extra frequent fl yer points. and i get rebates.

I only charge 25 percent of card and pay in full before charges. takes discipline

How can I use my credit card%26#039;s benefits without the credit card companies making any profit?

If there are no annual fees and you always pay off your balance before any interest is charged, you should be able to get all the benefits. And since you are only paying the amounts that you paid for services/products purchased, they are not making a profit off you.

What is the best credit card for me?

2009-08-09T05:38:00.003-07:00

If I am 19, have never had a credit card before, have never been in debt, don%26#039;t really have a credit record (I presume), am planning to pay off my balance every month, and am planning to use it for online purchases?

How can I compare interest rates, etc? What are some good questions to ask when getting a credit card?

What is the best credit card for me?

First, I%26#039;d suggest going to one of the credit bureaus websites and ordering a credit score. This will let you know where you stand as far as credit rating, which affects the interest rates available to you. It might be difficult not having much of a credit history to get an unsecured card, so I%26#039;d recommend finding a financial institution that offers a secured card. You secure the card by giving the bank money equal to the credit limit you want. They hold it for you in %26quot;escrow%26quot; so if you don%26#039;t pay your bills, they withdraw the amount you didn%26#039;t pay.

Interest rate doesn%26#039;t really matter if you pay off your balance each month, but its very easy to carry a balance and I speak from experience. You can shop for credit cards at sites like bankrate.com and cardweb.com. Good luck!

What is the best credit card for me?

You may have a hard time getting one -that is always a problem for people who have no credit hx at all.

For your situation, I would recommend a debit card - would work just as good for making online purchases. get it from a bank.

What is the best credit card for me?

I think you should get a GOLDEN ONE just because my big sis has one and its worked out great so far...

What is the best credit card for me?

none!

everthing you want to do can be done with a fully funded debit card except get sold into slavery. life can be lived without a %26#039;I love debt score%26#039;. ask real millionaires how they got there.

When dealing with snakes you will get bite repeatedly.

visit daveramsey.com to learn what the bankers pray you never learn.

the good intentions you have about paying off the balance every month is a fairy dream.

my clients have had checks held 10 15 days from reciept before deposited into their accounts only to get late charges and overlimit charges. even had one who sent check signature return priority mail 15 days before due date to have to check deposited two days after due date.

You will get the shaft sooner than later.

What is the best credit card for me?

if you dont have any credit it might be difficult to get one.go to the bank and ask if they offer a %26quot;student credit card%26quot;.I know US Bank does.They don%26#039;t really care if you have any credit history of how much money you make.

What is the best credit card for me?

If you will pay off the card every month, you won%26#039;t pay interest, so the rate doesn%26#039;t matter. You should get a card with no annual fee. If you have trouble getting a %26#039;student%26#039; card, try a secured card. Secured cards have a limit based on a savings account they can take if you default. If you maintain a good record for a year or two, you can convert the account to unsecured.

What is the best credit card for me?

Here is a link to help you determine which card is better for you.

What is the best credit card for me?

Go here to compare creditcards,

http://www.bestcreditrates.net

good questions to ask whats the limit on the card

What is the best credit card for me?

You try getting a student credit card, or low interest credit card.

I found this website to be helpful: http://www.greenlightcreditcards.com

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on

2009-08-09T05:38:00.002-07:00

my fabulous credit score is a %26quot;whopping 544%26quot; and i am trying to repair my credit quickly. any suggestions?

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

pay all debts before creating new ones. pay all credit cards on time, leaving no balance.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Pay off old debts

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Pay the debts that you have first and ON TIME. Your credit score has more than likely failed from either partial payments or late payments.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Paying off the debt. Having lots of cards is also calculated into your credit score. Even if those cards aren%26#039;t carrying a balance. Ideally, you want to have few cards with high limits with little or no carried debt.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

What will improve my debt situation? Getting rid of my debt, or getting myself some more debt? But what if it is high interest debt that I%26#039;m adding that will be more difficult to pay off and will likely lead to a LOWER credit score?

Obviously pay down your debt.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Any money that you pay for something, if it shows up on your credit, will raise the score. So, if you have a lot of debt, paying that money will raise it a lot. Starting a new card making payments will only do a little, because it%26#039;s not much money. It%26#039;s basically your debt to income ratio that makes your credit score. You can%26#039;t do much about your late payment history. That can%26#039;t be repaired except for waiting for them for years to dissappear.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

you might not be able to get a credit card with bad debt.... not a good at a a civilized rate anyway.

payoff old debt - you will never have better credit until you do.

people-myself included though all things fell off after 7-10 years....well it doesnt....it only comes off after 7 years after you pay it.... i found that out when buying a house.

also applying for credit can actually lower your credit rating.

every time the report is ran shows up also and for what reason.

get a copy from all 3 credit bureaus....experian,trans union, and equifax - they are not the same...crazy huh.

pay off all bad debt.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

The others have given good advice. Try www.suzyorman.com...she has all the answers to all the questions.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

It used to be that paying old debts would lower your score. This is not necessarily the case anymore due to some updates at Fair Isaac on the credit score model.

I would start with the more recent ones. Getting a credit card could be a problem with a 544 credit score.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Repay the old debts and do not get any more credit right now. That is the worst thing you could do in your situation. Your credit score will go higher and higher with those payments. Make sure that your payments are posted on your account. Easy and free way of doing this. Go to a high end department store Like Saks or Macy%26#039;s and apply for a card. They will turn you down if you have a history of late payments of any kind. When you get the letter of denial, send it to all three bureaus and see what they have listed. If you already have a copy of all three reports, work on the worst ones and get them cleaned up first. When they are all paid off and cleaned up, just get one credit card and keep that one paid on time and your credit score will get higher and higher..

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

doing both would help

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

you need to get all old debts paid off and try to apply for a credit card,then make sure you pay all you bills on time from now on

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Pay off your debts. And pay them on time.

You could ask a friend or relative with excellent credit to add you as an AUTHORIZED user on their credit card WITHOUT actually giving you the card. It will raise your score and not affect theirs in any way.

I did this for my brother after Hurricane Katrina and it raised his.

My Transunion score is 812.

Best wishes,

pup

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

The best thing to do is to maintain all monthly payments on your cards, but focus on making a higher payment on one card every month until that card is paid down, then move on to the next.

A better way; always pay more than the minimum amount due on the card. That helps to raise your score dramatically over time.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

pay off your old debts first

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

check them out they might be ablt to help you, they did a great job on my credit!!!! http://www.geocities.com/mikescreditrest...

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

you should pay off your old debt. Getting a new credit card, even if you do not use it, will hurt your score if you are already behind becasue it will be assumed you will not be able to pay on the new card if you do use it.

What will raise my credit score faster, repaying old debts or getting a credit card and paying it on time?

Don%26#039;t get any new debt! Pay your old debt and close unused accounts that show up on your credit report. This will help b/c you will have less accounts under your name. An like everyone else has said pay ontime.

How to rebuild credit? Still no approval on credit card even had paid debts 10 years ago? Why? No 2n

2009-08-09T05:38:00.001-07:00

Most likely you have no credit history. You need to begin building a credit history by first getting a debit credit card. Often times, you can get a store credit card before a general credit card. Apply for a card at a department store. They may give you a small line of credit, that you can use to start building your history. Make sure you pay off th echarges every month.

How to rebuild credit? Still no approval on credit card even had paid debts 10 years ago? Why? No 2nd chance?

gasoline credit cards are usually easier to get, to get credit re-established

What can I expect for a minimum monthly payment on this credit card purchase?

2009-08-09T05:38:00.000-07:00

I just got my credit card account re-opened after paying off a $1200 debt. They reopened the card with 10.99% APR and an $1100 credit limit.

If I made a purchase that was $900 next week, knowing that I will pay it off in under 2 months, would this be a good idea? How much can I expect my monthly minimum payment to be? I already have a payment plan set out for me to pay off the $900 and I know for a fact it will be paid off in 2 months time. That means that I will still have a balance on the card after the first month...

but my main question is, what can I expect my %26quot;minimum%26quot; payment to be after the first billing cycle? And how much money will be added on every month there is a balance due? I never use credit cards, always just an ATM card. Thanks

What can I expect for a minimum monthly payment on this credit card purchase?

Your minimum payment is likely to be 1% of the balance. If you carry a balance into the second month, you will be charged interest on any other charges from the day you make the purchase.

The best way to minimize interest if you have to make the purchase now rather than saving the money, is to

charge the $900 and then pay as much as you can on the first bill, and then don%26#039;t use the card again until you pay it off in the second month.

I was inquiring about an personal loan, and/or extra $$, because I am having some bad credit issues

2009-08-09T05:37:00.002-07:00

I was email this comment

%26quot;Credit card companies often times offer convenience checks. You may be able to get an offer such as 4.99% for life.%26quot;

Does anyone undertand what it means, and is there a such thing as this?

I was inquiring about an personal loan, and/or extra $$, because I am having some bad credit issues %26amp; debt.?

it means you can use a credit card to get cash, assuming you have a credit card.

but the interest rate for cash advances is very high so don%26#039;t do it.

I was inquiring about an personal loan, and/or extra $$, because I am having some bad credit issues %26amp; debt.?

Personal loans normally carry a higher rate of interest. This is because of the higher risk potential in such loans. One may also be overcharged on this account. The borrowers are asked to pay a hefty charge and have to face some inflexible terms of payment. Nevertheless, there are lenders who charge reasonably lower rates of interest%26lt;!--Taking a loan is not a trivial matter. It puts an important asset to stake. It also affects the financial condition of the borrower. This makes a proper search for the loan a priority. Gone are the days when searching the loan market would have raised hackles of people. Today searching has become much simpler, thanks to the power of information technology. You may get a personal loan here,

http://badcredits.awardspace.com/persona...

The selection of the most appropriate lender is not that easy a task. Though made simpler through information technology, ones mental faculties are the best resort in the selection process. Lenders generally promise many features along with the loan. Borrowers take this bait and fall in the trap. Failing to maintain an optimum balance between an immediate--%26gt;comfort and a future comfort also leads to this trap. Deciding the monthly repayments and the number of installments further strain your mental faculties. An expert advice from knowledgeable people will help in this decision. Being aware of ones financial condition, the borrower can decide the various details of the loan in a much better manner. Thus, the final decision is reserved with the borrower himself.

How does credit or debit card work?

2009-08-09T05:37:00.001-07:00

i want to make a credit or debit card that will only pay if there is enough money in my checking account. in that case, if i have 100 dollars in my checking account, if somebody steals my credit card number online and try to buy something 500 dollars, they can%26#039;t because i don%26#039;t have enough money.

what scares me is that if somebody steals my credit card number and use it, my debt could go very very high. should i ever buy things online?

How does credit or debit card work?

Tell your issuer or financial institution where you have those accounts to put a limit on your account (cards) as you wish. Say $500 per single purchase or per day/week. This will affect you too. Its done all the time.

How does credit or debit card work?

A credit card basically is a loan and a debit card only allows you to spend what you have in your checking account and nothing more. I buy things online very often and have never had any problems with it. As long as you stick to websites from established companies that you trust it can be very enjoyable. If you feel uncomfortable using your credit or debit card online you can buy a prepaid Visa card. They can be used anywhere Visa is accepted and can be used for online purchases. For added security if you lose the card or if it is stolen you can report it and the card will be cancelled and the company will send you a new one.

How does credit or debit card work?

You can%26#039;t do that because your limits on your debit cards are set and while you can call your bank and have the limit made higher or lower indefinitely you cannot make your limit change daily to match your balance. If you%26#039;re worried about going negative use the debit side of your card. As for fraud, Visa/MC protects you against unauthorized purchases and your bank will give you provisional credit while they research whether or not those purchases were fraudulent or not. Yes it it safe to buy things on secure sites, just check for security symbols and such.

How does credit or debit card work?

If you think there are an overwhelming number of options available for credit cards, you are right! There is a credit card for almost everyone today. Finding one that suits your lifestyle is key to making the most of your credit card. There are a number of points to consider before you apply.

First, check out the annual percentage rate (APR). This measures the cost of credit and is written as a yearly interest rate. If you plan to carry a balance from month to month, you may want to get a card with a low interest rate. Some offer low introductory rates. Be sure to check what the interest rate will be after this initial period. You%26#039;ll want to have an APR that will work well for you in the long term.

Next, look into the attached fees. Some cards have an annual fee. Many include other finance charges. Read the fine print to help you understand what is all involved with the card. These fees may or may not weigh into your decision, but it is important to understand them.

You will also want to consider any rewards included. Many cards come with cashback rewards, travel benefits, or other award options. If you have good credit, this is a great way to make the most of your credit card.

Apply Online

It has never been easier to apply for a credit card. You can do so online in only a few minutes. When filling out an application, be prepared to give basic personal and financial information. You may be asked questions regarding your monthly income, savings account, living situation, and employment status. Read more about it at: http://www.credit-card-gallery.com/artic...

How does credit or debit card work?

Actual the other poster is partial incorrect. What you need to do is reject overdraft protection and tell the bank you don%26#039;t want your card accepted if your balance goes into the negative. Some banks will and other banks won%26#039;t.

Actual I think congress is working on a law that would require the person to sign the statement allowing the atm/debit/check card to access your overdraft coverage from either an atm or a merchant.

What is the new jersey law on credit cards debts if a person dies?

2009-08-09T05:37:00.000-07:00

That is it, the debt is relieved.

What is the new jersey law on credit cards debts if a person dies?

His estate is responsble for the debt. No one else unless they are signed on as a user.

What is the new jersey law on credit cards debts if a person dies?

The person%26#039;s estate is responsible for the debt. If the person is married, the spouse is still responsible. However, children or parents are not responsible. But a large debt, can prevent an inheritance for the heirs.

What is the new jersey law on credit cards debts if a person dies?

I believe it%26#039;s like anywhere else: it becomes a lien on the deceased assets. Once you die, the things you own are basically %26quot;netted%26quot; against what you owe. The remainder - well actually all - go into the estate. The estate or executor/executrix must determine which bills are legitimate and then must pay the bills.

If there are insufficient assets to pay all of the bills, the priority of those bills is important. Holders of secured debt, like a home loan, can foreclose and sell the home at auction (or by listing the home for sale with a Realtor).

Unsecured debt is well down the totum pole from secured debt like home mortgages, but still must be paid if there are assets to pay it with.

In essence, credit card debt doesn%26#039;t go away UNLESS there aren%26#039;t enough assets to pay it. Then it does.

Bill Martin, Realtor/Broker/MBA - Accredited Buyer%26#039;s Representative

704 906-1902

What is the new jersey law on credit cards debts if a person dies?

It depends on a lot of things. Was there a will? was the person married? did they have assets?

Whenever someone dies and leaves debts behind, a designated person (called an executor or administrator) handles the estate. If the deceased person did not have a will and was married, then, in many states the spouse automatically assumes responsibility (but not always) for the estate and, becomes responsible for paying off the debts on his or her own.

If the deceased person did not have a will and did not have a living spouse, then usually a close relative (son, daughter, mother, father, or a grandparent) is appointed as the executor of the estate according to state law. If there are no relatives, the state appoints an executor.

Even when an estate is worthless, the executor must still notify all creditors of the death. Debts from a worthless estate are generally charged off and no future collection actions are taken. However, as stated earlier, in some states a living spouse can still be held responsible for paying off the debts of their deceased spouse.

What is the new jersey law on credit cards debts if a person dies?

To ask a question specifically about the law, you need to ask a lawyer, not a yahoo.

My guess: The estate is responsible for paying its debts. If there%26#039;s more debts than estate, then the entire inheritance goes to the credit card companies, but the remainder of the debts are cancelled.

If I am in a debt management program, can I pay more than normal on my credit cards?

2009-08-09T05:36:00.003-07:00

So I have a Bank of America Visa with about $6,300 at 13%. The account was closed by a debt management program. And I have been paying monthly payments through the DMP. I want to make a payment on the Visa more than the monthly payment. But I cant pay the entire balance.

I wanted to pay about $1000. Just to reduce the principle. But I remember the Credit Counseling told me not to do so. They said it shows that I have money and BOA might not abide by the agreement anymore.

Do I trust the Credit counselors? Or make a payment to BOA directly?

And do you think credit card companies are evil? JK

If I am in a debt management program, can I pay more than normal on my credit cards?

I would actually say Yes, abide by the credit counselor. card companies are famous for retracting settlement amounts and monthly payments, especially if they see that you have money. They will question why they made the settlement. It is good that you want to pay more now, but in the eyes of the creditor, they will se it as, %26quot;why wasnt it paid like this originally?%26quot;

Think of it this way, you make the payment you are thinking of making now, and BOA breaks the settlement agreement, in a few months you run into a bad spot again, and can%26#039;t pay what they are expecting you to pay, interest piles up again, the guy below me did not think of that. BAD ADVICE. My info is coming from someone that owns a collection agency, and knows the result of what you are talking about. I work with debt counselors everyday, and although at times they seem to not know much, a good portion of them are VERY knowledgeable.

If I am in a debt management program, can I pay more than normal on my credit cards?

CONSIDER THE SOURCE of this information.....

If you pay BOA directly you are putting yoru credit counselor out of a job!

Please send the money directly to them....Of course this will save you on interest.

In fact each time you get an extra 50 bucks, do the same...this will save you an untold 100%26#039;s of bucks...an agreement is an agreement...I would think that they would abide by it but even if they dont, you are paying them off more quickly

Pull your credit report NOW

i betcha that you will be shocked to find your %26#039;counselor%26#039; has given you alot of bad information....

I believe that debt management screws up your credit as much as filing bankruptcy

If I am in a debt management program, can I pay more than normal on my credit cards?

i work for a debt management company and i always advise my clients to pay more than the payment that was agreed on, it will just cut your term down, the way it works with are company is if you have more to pay on the card, all u do is call us and tell us to draft more out of your account

If I am in a debt management program, can I pay more than normal on my credit cards?

It sounds like a not easy cracking nut,have a look here,you should find something useful for you.http://debt-consolidation.featured-resou...

How much will it really hurt my FICO scores to cancel a credit card?

2009-08-09T05:36:00.002-07:00

I don%26#039;t owe them anything, my FiCOs are in the 760 range, i have plenty of revolving debt, a mortgage, other major credit cards, department store cards, etc. Yeah, I could keep the account open and just not use it but this credit card provider, Chase, is just so scuzzy that i want nothing whatsoever to do with them.

Can anyone give a ballpark estimate about how many points this will nick me for, if any? Thanks.

How much will it really hurt my FICO scores to cancel a credit card?

It depends on how long its been open and the credit limit and how much you owe on your other credit cards.

If it%26#039;s you oldest trade line, it could damage your score quite a bit. If it is your biggest limit card it may throw off your capacity ratio. For example, if I have 2 credit cards one with a $1000 credit limit and another with a $5000 credit limit and I owe $500 on the first card then I only owe 8.3% of what I have available, this may lower my score by 4-5 points, BUT, if I close the $5000 credit limit, then I owe 50% of what I have availble, cuasing my score to drop by 30-50 points! Capacity is huge.

Remember your income is not on your credit report so the assumption is that if you don%26#039;t use all of your limits, then you don%26#039;t need the money, but if you do, you NEED the money and must be struggling. Therefore, your score goes down.

The FICO is an indicator of financial health and how likely you are to go into bankruptcy. It may be your best bet to leave the card open and not use it very often, if you do, make sure you can pay it off at the end of the month.

How much will it really hurt my FICO scores to cancel a credit card?

It won%26#039;t hurt you so much. Be sure to pay if off and close the account though, or they%26#039;ll leave it open!

How much will it really hurt my FICO scores to cancel a credit card?

Should help your score actually. Shows you%26#039;re getting rid of unneeded credit.

How much will it really hurt my FICO scores to cancel a credit card?

Hi,

Since, you don%26#039;t have payment default issues, canceling the credit card may not have any impact on your credit score. But, still you can keep it if the annual fee is not too much. Check out http://financeguru.consumerspot.info for some useful info and tips on the matter. Good luck!

How much will it really hurt my FICO scores to cancel a credit card?

While closing the account will impact your score, it should rebound quickly.

Make sure to close the account in writing and request written confirmation that the account is closed.

This is particularly important with Chase. I closed an account and a year later got a bill for annual fees. Seems they didn%26#039;t close the account, just lowered the credit limit way down.

I have a Credit Card, with a balance of 75000, want to make a settlement payemnt. How much will the

2009-08-09T05:36:00.001-07:00

My mom has a HDFC credit card, on which there is a debt of 75000. Now that she is not keeping well and is bed redden i am responsible for making the payemnt. I am unable to a monthly payement every month as i have other reponsibilities that i need to take care of first. Once i have done those there is hardly any money left to make a payemnt for the card. I want to settle the account. If give 2-3 months time i can pay about 20-25000. Will they settle for the amount. I did speak to the bankl, but thy have not ocnfirmed any thing to me. Can they reduce the amount depending on the condition. she has not been able to pay this card for the last 5-6 moths and i no longer want to continue this.

I have a Credit Card, with a balance of 75000, want to make a settlement payemnt. How much will the bank reduc

No they will not give any relief. Just pay the credit with in you means with shortest period possible....

I have a Credit Card, with a balance of 75000, want to make a settlement payemnt. How much will the bank reduc

I`d like to know to

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

2009-08-09T05:36:00.000-07:00

What is going to happen to us?!! Are they going to leave us alone - Is it wise to just leave at this 閳?we have tried to contact the creditors to explain but no use. We have been asking for financial help but no one wants to guide us, the minute they find out we have no minimum payment to make. My family and I are going through extreme hardship (unable to disclose details). And we absolutely cannot do anything anytime soon. What about these debts!! we love to pay them of but our hands are so tight. If we don閳ユ獩 file for chapter 13.. what else can we do? and if, so what is it they going to do to us? Please %26quot;true information only%26quot;.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

You should pay $5.00 a month on each bill so they don%26#039;t take you to court. When you can step up to the plate then pay them off. Do away with the credit cards. They are nothing but problems. Learn while you are young, credit cards are not the answer. If you don%26#039;t have the money in your pocket to buy the items what makes you think you will have the money later. Now.... try and pay these off when you get your tax returns, assuming you will get a tax return. Don%26#039;t spend that extra money on anything else! Having good credit is not easy. You must try and have an emergency fund that can last for at least 3 months in case you lose your job. Pay yourself first! Put 1/4 of your paycheck into a savings account possibly with INGDIRECT.COM, their savings account is almost 5%, better than any bank in your town! Good luck...it%26#039;s not easy but it can be done. The creditors will continue to call, but you don%26#039;t have to answer the phone. Change your number if it is unbearable. It is their job to harrass you to make you feel horrible. Let them send you letters instead. Just keep making minimal payments until you can pay it off. The interest rate will hurt you, but until you can pay it off you have not choice. If you stop paying on the bill, your credit will plummet to the lowest credit score so don%26#039;t do that because it is hard to build it up again.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

Thanks for the best answer. I can always use the points! You are so welcome.....Good Luck! Report It

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

Read a book called Automatic Millionaire by David Bach. You will love this book and it will really set your mind on how to put money aside. When I read it ....it really made me realize just how bad I was with money. It changed my life, my credit, and my bank account. Report It

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

Go to a lawyer. Ask about chapter 7 bankruptcy. Sorry for your troubles.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

If you just ignore them, they do not go away. They will continue to call you, they will go to collection agencies, and they can even go to court and get your wages garnished. You need to find every possible thing in your finances that can be eliminated (cable TV, costly cell phones, etc) and then use that money to at least pay something towards your credit cards. If you can get rid of them, your life will be much easier because the interest on those kill your finances, and make it hard to get ahead later.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

I had some trouble with this myself, not just credit cards either. I went to a program called CCC, they negotiate with your creditors and get a lower or possibly 0% interest rate for your credit cards, combine all your bills, and then you pay a set amount every other week. There%26#039;s no way to pay off debt like that ya know? Unless you come into some money. So this way, CCC, you get A LOT more accomplished in a short amount of time and your bill collectors stop bugging you. You should check it out.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

you could try some sort of credit counseling service or consolidation service but sounds like your options might be limited to bankruptcy - try looking in your area for free to the public legal advise...

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

Credit Card companies are *** holes

File chapter 13

Or consolidate your cards

They will haunt you til your dead

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

I understand where you are. Do you eat or pay the CC bills? Of course you are going to go with the survival items when it comes to paying bills. But by ignoring them you will lose many points on your FICO. What I do is let a debt get old. Once it is good and old and they don%26#039;t think they are going to get anything from you then you can settle the account. I have payed less then 50% of a debt by settling. But cancel all the cards ASAP. Otherwise the late charges will keep racking up. And then follow up to ensure that they did indeed cancel the accounts. I did not follow up once and they slammed me with b.s. fees.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

Contacting the creditors themselves isn%26#039;t a good idea. Get a hold of Consumer Credit Counseling (CCC), look them up on the Internet and they can help you out. Creditors are not in the business of negotiating with you and don%26#039;t really care to be helpful even if it means getting their money someday (key word is someday--they always want it now). Strongly urge you contact either CCC or some other 3rd party credit counselor for help.

What to do, if you cannot pay-off your Credit Cards debts? just let it be?

I know you said that you%26#039;ve been asking for financial help already, so this might not be a solution if you%26#039;ve already looked into it. However, if you haven%26#039;t, please do. Try going to a local Consumer Credit Counseling Services office. They are located nation-wide and they help you to deal with your creditors and set up monthly payments. They will also talk to your creditors and try to get the interest that you are paying reduced. There was a point in my life where I had a ton of bills that I could no longer pay, so I went to CCCS and they really helped me out. I%26#039;m still not entirely debt-free, but I%26#039;m a lot closer to it than I was two years ago, and I really recommend this service. If you want to know more you are welcome to email me.

How long does debt stay on a credit report?

2009-08-09T05:35:00.003-07:00

I am helping my best friend clear up her finances and she has many, many old collection notices on her credit report that are helping to drag her rating down. They are probably 4-7 years old. Do these ever fall off? Or get written off? It seems like they just keep transferring them to other agencies. She also has a Household Bank credit card in collections - should this be paid first or the old debt? She tried to make arrangements with the collection agency for Household but they wanted much more a month than she could give them, and they refused to make arrangements so right now they are getting nothing. Help - I am not sure where to start. :(

How long does debt stay on a credit report?

Negative Items remain on your credit report for 7 years from the date of the negative item. So if the account was %26quot;charged-off%26quot; it will remain on the report for 7 years from the date of the last delinquency(missed payment). It does not mean the debt goes away, it just means that the creditors can no longer report it to the credit reporting agencies(TransUnion, experian, Equifax).

Creditors, and collection agencies, can not re-age a debt. So it does not matter how many times they transfer it, the date that matters is the original delinquency date. If she has debts that are more than 7 years she needs to send a dispute to the CRA%26#039;s to have it removed.

Now there is another item called the legal Statute of Limitations. This is a point after which they can no longer force you to pay by filing a suit against you. This is usually 3-6 years depending on the state you live in. So if she has them in the 4-7 year range there is a good chance they are outside of the SOL and can not take any legal actions. The link below gives you a break-down by state.

If she does want to pay them off, only communicate through the mail, NEVER negociate over the phone. Have her send her offer with what she can pay each month. Also, include that once she pays it off that they remove the collection account. DO NOT send any money to them until they have an agreement in writting from them that they approve.

How long does debt stay on a credit report?

6 years til the debt clears xx

How long does debt stay on a credit report?

A couple of things you need to think about.

First the statute of limitations on credit card debt in most States is between 3-6 years. Anytime this time has passed there is nothing that the creditors can do to your friend.

Second after 7-years all of these accounts will drop off of her credit report. If she contacts them or makes any type of payment the time starts over again.

So, if the S.O.L. has passed, she should simply wait until the accounts drop off be their selves.

How long does debt stay on a credit report?

seven just like the move seven year itch

How long does debt stay on a credit report?

If you do not know what you are doing perhaps you should not be attempting to help. Your %26quot;HELP%26quot; could cause serious problems if you make a mistake out of ignorance.

How long does debt stay on a credit report?

Payments or offer of payment does NOT reage items on your credit report. It will however restart the clock on the statue of limitations.

Many collection agencies are suing for smaller sums and older debts. If you don%26#039;t show up in court, they will get a default judgment even if the debt is beyond the statue of limitations (SOL).

Also, charge accounts are normally considered %26quot;open%26quot; accounts and have shorter SOL but collection agencies have been successful in convincing judges that credit card accounts are written contracts which have much longer SOL.

Your friend should make sure all her current bills are brought up to date and paid on time. Then work on settling the bad debt one account at a time, working back newest to oldest.

How long does debt stay on a credit report?

Most debt will fall off in 7 years ... Bankruptcies generally fall off in 10 ... There are statute of limitations that restrict the timeframe in which the creditor can legally sue for non-payment of the debt ... You might want to check the SOL for the state where you live to see what they are in your area.

Here are some really good forums that you and your friend might want to check out ~ CreditBoards.com %26amp; Creditnet Credit Forum. Both of these groups are laypeople just like us who are either working through repairing their credit or have successfully repaired their own credit. Lots of really good information on both sites ....

How long does debt stay on a credit report?

Depending on your state laws it could be between 5-7 years, then companies cannot report that debt to the Credit Bureau%26#039;s. For example, in my state it is 7 years before the debt falls off and cannot reappear on the report.

How long ago did she try to make arrangements with the collection agency? Because this is when it gets dicey. No contact at all is better than contact. Unless she truly plans on paying the money back then DO NOT CONTACT. They can then start a new cycle making the debt practically new just because of the attempted negotiations.

If I were her, I would ride it out if like you said it is debt that has been default for 4-7 years. Towards the end of statute of limitations the collection agencies will file motions in court to sue. But those are just scare tactics. Unless she has stuff that can be seized for payment then don%26#039;t sweat it. Paying at this point will probably hurt her credit even more unless she makes a deal in writing that all the negative reports are erased.

How long does debt stay on a credit report?

they fall off 7 years from the first deliquecy. You could also try disputing them with credit bureau. Since they are so old the creditor may not even bother to respond and they will be deleted.

How does one go about lowering the APR on a credit card?

2009-08-09T05:35:00.002-07:00

In a recent financial article I read, it mentioned, along with several other concepts, one of the ways to help lower debt is to ask the credit card company to lower the APR on the card. How is this accomplished?

How does one go about lowering the APR on a credit card?

It%26#039;s so simple. I work for a credit card company and we get this all the time. Sometimes people are afraid to ask for the apr to be reduced but we can just press a button and have it repriced to a lower interest rate.

How does one go about lowering the APR on a credit card?

Call up your credit card company, and ask to lower your rate.. if you have paid on time and been with them for a while they will usually do it...

simpler than it sounds.

How does one go about lowering the APR on a credit card?

You call them and ask them. Chances are you will have had to have the card for at least a year with no late payments for them to consider lowering it.

How does one go about lowering the APR on a credit card?

call them and ask them.

How does one go about lowering the APR on a credit card?

as long as your not behind on your payments.. you just call and ask..

once you get behind on them, they just get mean and nasty when you call.. they say they%26#039;ll work with you but unless you luck out and get a nice person when you call, that%26#039;s a lie..

Don%26#039;t ever get behind on your payments.. if you see it coming, ie, your about to loose your job.. call them before it happens.. not after.. and if your lucky they will help you.

How can i get rid of my credit card and student loan debts?

2009-08-09T05:35:00.001-07:00

Pay them off.

I mean seriously. Your question is extremely VAGUE. How about delivering more information. Y oure only going to get more answers like this if your question remains so completely open to speculation.

Habe you heard of refinancing? Contact your student loan company and tell them y ou want to extend the life of your loan and make lower payments monthly. As far as credit cards go....if you SINCERELY CANNOT Pay them, go see a consolidation service. For a fee, they will get your debts REDUCED or SETTLED for a much lower amount, OR like a student loan, they can extend the time you have to pay it off and at a lower rate.

But if worse comes to worse, and you CANNOT afford to pay off your credit cards- theres not much they end up doing. It WILL affect your ability to get loans and credit in the future, even a house, but theyre not going to come to your door and start taking your couch and tv or put you in jail. THE WORST they can do is file a JUDGEMENT against you which you wont even have to physically appear in court about. It wll affect your life, but you dont HAVE to pay it off. If you have no money to pay this crap, what do they think youre gonna do? Pay even more than you cant afford now? Ive had capital one threaten to sue me for a 1300 dollar debt, that they JACKED UP to 2700 dollars. If I cant pay 1300, what makes them think I can pay 2700 in late fees and interest? Ive received letters saying that a suit is being filed, but so far, aint jack happened to me and I dont expect that it will. MANY PEOPLE owe MUCH MUCH more than I do, and nothing happened to them either. Its not like a car loan, where if you dont pay they come and take your car. Theyre not going to come and say you bought this and that on your credit card and we are taking it now. They send threatening letters and call your answering machine like CRAZY, but once you TELL THEM to leave you alone, by law they have to. Doesnt mean they wont file a claim against you though. But it will by law, make them stop calling you and sending BS letters.

they mostly rely on fear to make you do whatever to pay them. Thing is, theire insured and write these debts off as a bad debt and then you have to wait like 7 years to have it taken off your credit report. But you%26#039;ll find those 7 years go by fast when you realize that you dont TRULY need a credit card to live.

Do you budget your self? MANY people dont know how to budget, you may h ave to find out, are you spending too much on food and entertainment during your paycheck periods? If so, start changing your lifestyle, dont eat out, dont buy items that do nothing but sit on a table or shelf and look pretty etc etc. AMericans are constantly being told by TV and radio etc that they are EXPECTED To buy buy buy everything that they dont even TRULY need. Ignore the lies and live within your means.

FOR EXAMPLE Buy a 30 dollar CROCK POT and for a 2 dollar bag of potatoes or the same 2 dollar amount of carrots and a 10 dollar bag of bonesless chicken you can eat ALL WEEK, just serve it with noodles or rice or a 50 cents can of green beans to change it up daily.

Life will get better in time, be patient. You%26#039;ll be surprised at how fast time can fly with lifes distractions.

How can i get rid of my credit card and student loan debts?

pay them or file bankruptcy

How can i get rid of my credit card and student loan debts?

get a second job and make double payments each month.

How can i get rid of my credit card and student loan debts?

Ummmm..... pay them?

How can i get rid of my credit card and student loan debts?

Live on as little as you can and pay them off.

http://www.daveramsey.com

How can i get rid of my credit card and student loan debts?

Simple...pay them off. You took on the debts, you shouldn%26#039;t try to find ways out of them.

How can i get rid of my credit card and student loan debts?

Pay large on the one with most interest; min on others then move to next one with high interest

How can i get rid of my credit card and student loan debts?

Just don%26#039;t use your credit card or talk to the bank. Move into a small home and don%26#039;t buy what you don%26#039;t need and then work a lot and you will pay off debt in no time. Email me for more tips at: kararattermann@yahoo.com

How can i get rid of my credit card and student loan debts?

no way out pay them off or wait 7 years until it is wiped clean off your record

How can i get rid of my credit card and student loan debts?

start paying the minimum at start

must pay smth otherwise the interest wil kill you

stop spending so much

How can i get rid of my credit card and student loan debts?

Just a suggestion... pay them off?

How can i get rid of my credit card and student loan debts?

Start with cutting up all your cards......do not use them anymore! And work with your card companies as to how you need to pay them off. As well with the student loan...you should pay them off!

How can i get rid of my credit card and student loan debts?

Transfer them to a 0% transfer balance credit card (they normally are for only 1 year) and then make payments that are double the minimum. If you still haven%26#039;t paid them off in a year, do the same trick again until they are paid off.

How can i get rid of my credit card and student loan debts?

By paying them off, how else?They will dog you for the rest of your life, if you don%26#039;t start making arrangements to start paing them off. You credit will be zilch also, if try to get credit for anything else.

How can i get rid of my credit card and student loan debts?

Well the answer is very easy in theory but requires major discipline in practice.

Bottom line:

Spend less than you bring in each month and put the remainder towards paying down your debt. Once your debt is paid down you will also have mastered the very useful skill of living within your means. You can then take that surplus and begin applying it towards a down payment on a home or a nice nest egg for retirement.

How can i get rid of my credit card and student loan debts?

consolidate your loans all together if you can. i had a sallie mae loan that they wouldnt consolidate, and it has OUTRAGEOUS interest, so we paid that one off first.

How can i get rid of my credit card and student loan debts?

There are a few things that you can do.

1st Pay them

2nd Don%26#039;t pay them and not care what happens to your credit

3rd go bankrupt but that will only get rid of your credit cards a bankruptcy do not get rid of student loans and taxes but it will give you extra $ to put towards you student loans.

How can i get rid of my credit card and student loan debts?

The easiest way is to pay them off through hard work and effort. There are other ways, but I would not recommend them. If you agreed to pay the loans back, you need to keep your word or it will haunt you for the rest of your life.

Get a second job at night to earn extra money to pay them.

How can i get rid of my credit card and student loan debts?

Just pay them a little bit each time. For ex. if the credit card minimum is $28, I will pay $35 which is $7 more then what the credit card company wants. You can decide how much extra to pay off then in no time, all the credit card debts and student loan debts will be gone. All you have to have is patience.

How can i get rid of my credit card and student loan debts?

If you file Bankruptcy and the student loans are federa loans they will not be discharged.

I would reccommend offering them settlements when you have money to pay each one a lump sum.

This article may help, good reading.. http://www.expert-credit-advice.com/inde...

When grandma dies who pays for her credit cards debts?

2009-08-09T05:35:00.000-07:00

They are paid from her estate, savings, home, cars, etc etc.

If that does not cover it then her children inherit it (in the US, maybe not elsewhere).

When grandma dies who pays for her credit cards debts?

Her estate

When grandma dies who pays for her credit cards debts?

It she was the only owner of the credit card and there were no other co applicants, her debts will be written off and no one will be obligated to pay.

you need to call her credit card companies though ASAP and let them know what happened as well as present any documentation requested as a proof of death.

When grandma dies who pays for her credit cards debts?

Her estate, if a claim is made against it.

When grandma dies who pays for her credit cards debts?

Her estate (essentially, the sale of all her possessions) will be used to cover any expenses she may leave behind, including the cost of the funeral. Life insurance can be used for this as well.

The children DO NOT inherit the debt. Whatever is not covered by the sale of the estate or insurance will be written off by creditors. The only way family members may be affected by debt left behind is in the distribution of inheritance. All debts must satisfied before any beneficiaries to the will can be paid.

Hope that helps!

When grandma dies who pays for her credit cards debts?

After Death Taxes are paid, probably twice as much as any CC debt, the real law kicks in.

No body owes credit card, but that can change and is being changed now, so depends on if and when she dies, celebrate her life and bake her a cake or something.

Building Credit AFTER getting OUT of Debt?

2009-08-09T05:34:00.002-07:00

Are there any ways to build my credit score up after getting out of debt? I do NOT have credit cards or anything like that. I%26#039;ve NEVER filed bankruptcy, either. But I DID have credit cards and maxed them out (and beyond) to cover medical bills. Now, I%26#039;m paying them off and ALMOST totally debt free, but what can I do to get my score UP?

Building Credit AFTER getting OUT of Debt?

The fastest way to do so is to take a small loan (whatever you can afford to secure with an equal amount of cash). You can go down to your local bank that you have an account with, ask for a personal loan and tell them you will secure it with cash.

Then make your payments on time, and do not pay it off early. The idea is to establish a payment history so try and take the loan out for a 12-month term.

Do this with several separate loans if possible. The more loans the more history, the faster your credit is repaired.

You can also get a secured credit card, which would have the same effect and uses the same principal of securing your line of credit with an equal amount of cash on deposit with them.

Think carefully before you chose that option. Make certain you feel comfortable you have learned your lesson and will not get yourself into trouble again by over extending yourself since you will have to use the card to incur some debt to repay and establish the payment history.

Also consider the interest rate will be exceedingly high and if you should exceed your credit limit or fall one day late on a payment, it will skyrocket to the ridiculous range (30% or more depending on your states laws). None of these issues exist with your bank and the rate, while higher than other types of loans, is not overly exorbitant.

Your credit should be repaired within one year to the point that you can reasonably accomplish most things such as buying a home or getting a car loan.

Building Credit AFTER getting OUT of Debt?

The only way to build creidit is with a credit card. Get one with a low maximum like 100 dollars and just use it for one thing like gasoline or groceries. And each time the bill comes make the payment in full. NO min payment!

Building Credit AFTER getting OUT of Debt?

If you need a car to get around . There are many places that offer credit repair when financing a car. ...

Building Credit AFTER getting OUT of Debt?

get a secured card from Bank of America.. and after 9 months of paying your bills on time it turns into a credit card

Building Credit AFTER getting OUT of Debt?

One way to do it is to apply for credit cards from gasoline stations. They carry small credit limits, and if you pay your bill on time each month, it will have a favorable impact on your score.

Building Credit AFTER getting OUT of Debt?

Actually, just paying off the bills should bring it up considerably. My score went up by 32 points when I paid off my maxed out credit cards as well. A few things to remember are:

Applying for too many cards WILL bring down your score

Having too many cards will also bring it down.

Wait a few months after paying your debts. Check your credit report yourself to see if it went up. Don%26#039;t apply for cards so soon. Some of the cards you used to have may be interested in reopening your old accounts. (try to limit yourself to one card). The reason I say to try your old cards is because you have credit history with them which helps your score as well.

Building Credit AFTER getting OUT of Debt?

If you dont want loans (aka Debt) than stick with 2-3 credit cards and don%26#039;t even use them. Just leave them open with no balances. You dont have to actually have a payment in order to have it report as %26quot;paid as agreed%26quot; or %26quot;current%26quot;

Pay those cards off that you have, and keep the oldest ones in place (assuming they dont have monthly/annual fees to consider) and cancel only the newest ones.

Building Credit AFTER getting OUT of Debt?

One important thing you can do is protect against

this situation ever happening again. Find out

how a person in the same situation as yourself

avoided bankruptcy and kept his good credit score

by. The story is at the end of the movie below.

How do i transfer money from my Australian bank account to a UK credit card which I had while living

2009-08-09T05:34:00.001-07:00

I still have some debt owing on my UK credit card which I need to pay off. My bank will not transfer money onto an overseas credit card, only to an overseas bank account which I don%26#039;t have...any suggestions?

How do i transfer money from my Australian bank account to a UK credit card which I had while living in the UK

When I pay on my wife%26#039;s Canadian credit card debt she had before we got married and she moved to the U.S. I just mail them a check (cheque) drawn from our U.S. bank account. They convert it over with no problem. Check with your credit card company.

When all my debt is paid off, how long will it take for my credit to bounce back?

2009-08-09T05:34:00.000-07:00

I%26#039;ve paid off all my loans, credit card balance and all other debts. How long will it take for it clear on my credit report?

When all my debt is paid off, how long will it take for my credit to bounce back?

Credit score changes each month.........go figure

When all my debt is paid off, how long will it take for my credit to bounce back?

It kinda depends on when the people you owe money to are reporting that its paid... its not going to be instantly... im pretty sure they have a pretty long time to report it...good luck and congrats on paying off your debts!

When all my debt is paid off, how long will it take for my credit to bounce back?

hmmm good question - there are over 1,700 factors in your credit score

things that affect it also include job longevity

how much credit you have applied for/ and how recently

(do not appear desparate for credit)

how much available credit you now have -

I believe the bad junk can stay on there 7 - 10 years

like a bankruptcy - your 30-60-90 day %26#039;lates%26#039; may stay there as well

time heals all wounds *sigh*

Lord, give me patience - RIGHT NOW!

have a great 2008! (and good job on the credit!)

When all my debt is paid off, how long will it take for my credit to bounce back?

usually between 3 mos- 1 year. but keep your receipts because a lot of times you will have to contact the company and/or credit bureau with your proof of payment to have your credit cleared correctly

When all my debt is paid off, how long will it take for my credit to bounce back?

Hi,

Please click my profile to read my advice.

Raising credit score, imroving credit report and some debt..?

2009-08-09T05:33:00.003-07:00

currently my credit score 575. My old credit cards paid off , they were 30-60 days late in payment, i%26#039;ve collection debt of 700$. If i%26#039;d pay 700$ collection debt all in once would this improve my credit Score and imrprove better look of my credit Report ? If i%26#039;ll dispute the collection debt on-line at the experian(but not yet directly w/the agency) would this reopen new date of the collection ? i heard when debt passes 7 yr period it goes away from the credit report ? In my situation how to imrove credit score ? Currently i don%26#039;t have any credit cards or loans.

Raising credit score, imroving credit report and some debt..?

here are some great tips. :) and no disputes will not reopen these accounts. yes 7 years from last date will be removed.

1. Pay your bills on time.

This is the best way to improve your score, and it%26#039;s never too late to start. Even if you%26#039;ve had serious delinquencies in the past, those will count less over time if you keep paying your bills on time.

2. Keep credit card balances low.

High outstanding debt can pull down your score. Don閳ユ獩 go maxing out your credit cards all the time.

3. Check your credit report for accuracy.

It閳ユ獨 possible that there may be inaccurate information on your credit report that can be easily cleared up (see How To Fix Credit Report Inaccuracies). If this proves to be the case, then you should contact one of the three credit reporting agencies閳ユ摮ransUnion, Experian or Equifax.

4. Pay off debt rather than moving it around.

Consolidating your credit card debt onto one card or spreading it over multiple cards will not improve your score in the long run. The most effective way to improve your score is by simply paying down the amount you owe.

5. Keep your credit cards - but manage them responsibly.

In general, having credit cards and installment loans that you pay on time will raise your score. Someone who has no credit cards tends to have a lower score than someone who has managed credit cards responsibly.

6. Don%26#039;t open multiple accounts too quickly, especially if you have a short credit history.

Opening too many accounts in too short of a time period can look risky because you are taking on a lot of possible debt. New accounts will also lower the average age of your existing accounts, something that your FICO score also considers.

7. Don%26#039;t open new credit card accounts you don%26#039;t need.

This approach could backfire and actually lower your score.

8. Don%26#039;t close an account to remove it from your record.

It閳ユ獨 a myth that closing an account removes it from your credit report. This is untrue閳ユ攨ven closed accounts remain on your report, possibly for an indefinite period of time and may still be factored into the score. In fact, closing accounts can sometimes hurt your score unless you also pay down your debt at the same time.

9. Shop for a loan within a short, focused period of time.

FICO scores distinguish between a search for a single loan and a search for many new credit lines, based in part on the length of time over which recent requests for credit occur. If you shop for a number of loans over too long a time period, it can count against you.

10. Contact your creditors or see a legitimate credit counselor if you%26#039;re having financial difficulties.

This won%26#039;t improve your score immediately, but the sooner you begin managing your credit well and making timely payments, the sooner your score will get better.

Raising credit score, imroving credit report and some debt..?

Pay off the collection amount. Start paying all of your bills on time. Unfortunately, it does take years for your credit score to improve.

Raising credit score, imroving credit report and some debt..?

Now this ofcourse is not easy raising your credit score takes time once it falls. That is one of the main reasons that i who had a 740 credit rating cancelled all my credit cards and ****. Cos if ur moving to a house or buying a car watever crap that credit rating shows up. Thanx to ur ss of course. So even if u put in a 100000 over a period of 2 mths its still gonna be shitty. Its a gradual process and takes time.

Raising credit score, imroving credit report and some debt..?

It will not reopen the collection debt, the date stays the same and in 7 years it will be removed. But if your interested in paying it sometimes you can let them know and they will accept a lower amount considering they done figured they were getting nothing.

Raising credit score, imroving credit report and some debt..?

I would talk to someone that does credit restoration. I have a company that I send my clients through, but there are lots out there.

You should remember that you always have the ability to fix the score...by yourself, get a new card, use it, and PAY IT OFF every month, keep it up to date

Raising credit score, imroving credit report and some debt..?

I have to make decisions everyday on whether to approve or deny people that apply for credit. If I had to give advice to people that

are trying to start out building credit, this is the advice that I would give:

1. Open a checking account- While opening the account doesn%26#039;t directly build your credit, it does create a relationship between you

and the bank by being an accountholder. Banks love to cater to their preferred customers that have accounts in great standing by

offering loans and credit cards. Also, having a checking account not only helps manage your money, but it gives you the most

powerful tool in building credit, a checking account to help pay your bills on time. Most banks and credit unions offer online banking

with billpay that can make it easy for you to pay your bills on time, which is important in building credit.

2. Open a secured credit card- Secured credit cards are the easiest credit cards to get, mainly becuase a security deposit is placed

upfront in order to establish a line of credit in the same amount. For example, if you deposit $250, your credit limit is $250, and so on.

The deposit isn%26#039;t used to pay for any of the purchsases on the card unless, it was charged off and sent to collections, so you would

have to repay it just like a regular card either in full or minimum monthly payments. The deposit is sometimes linked to a savings

account, so it earns interest while you%26#039;re building credit, so the deposit isn%26#039;t sitting there. You can think of this as building credit with

a savings account. The more you deposit, the higher your limit, which is good for your score because it creates a cushion between

the total debt you owe and the credit you have available. Also, by continuing to add to the deposit, you%26#039;re also creating an

emergency fund at the same time. A good way of using the card is by making small purchases ($20/month max) and paying on time

every month while adding to the deposit. Usually after a year or so, the card either converts or upgrades to a regular card, and most

importantly, the deposit is given back, which you can place in a savings account as an emergency fund.

3. Enroll with PRBC- PRBC is America%26#039;s Alternative Credit Bureau, providing a helpful service to the over 50 million people with

limited or no credit history. If you pay your monthly bills on time, PRBC can help you build credit to qualify for a mortgage and better

interest rates.On-time payments for the following bills are not reported to the traditional credit bureaus:

Rent

Cable

Phone

Daycare

Insurance

Electric

Natural Gas

Cell Phone

The only time your payments for these bills are reported to the other credit bureaus is if they%26#039;re missing or late.With PRBC, your on-

time payments count. You build credit for paying your bills on time, even if you have no credit history. PRBC has teamed up with Fair

Issac, the creators of the FICO score to introduce the FICO expansion score which helps people build credit. Here%26#039;s a link that explains

How on earth do I close a credit card account?

2009-08-09T05:33:00.002-07:00

I%26#039;m trying to close out my credit card account! The rep gave me the balance of my account %26amp; I send the payment in before the due date! Low %26amp; behold I got a statement that I still owe 27.50 which was interest added to my note (they called it rolling interest). If I pay that amount will that close the account?

No wonder people with credit cards never will get out of debt! Help.....I%26#039;m getting deeper in debt!!!!!

How on earth do I close a credit card account?

No, paying that will not close the account. It will just leave the account with a zero balance.

The 27.50 is for the interest that accrued between the statement date and the payoff date. There%26#039;s no magic there, just standard business practice.

If you want to close the account, cut the card in half and send it to the credit card company. The administrative address is on your statement. Include a note asking them to close the account.

That said, your credit score will be higher if you just leave the account open with a zero balance.

Part of your credit score is the ratio between available credit and credit used. Closing that account will raise that ratio and reduce your credit score slightly. If the credit card charges an annual fee, go ahead and close it or ask the credit card company to drop the fee. If you%26#039;ve been a reasonably good customer, they should be willing to do that. If not, just go ahead and close it.

How on earth do I close a credit card account?

Be aware that closing an account can have a negative affect on your score. Personally, I%26#039;d send then $35, and make them send you a check back. It%26#039;ll serve as proof the account was paid, and ensure it really does get closed.

Also, be aware you need to use a credit card account a minimum of once every six months for it to help your score, otherwise it %26quot;goes inactive%26quot;.

How on earth do I close a credit card account?

pay of eney bills on that card and call the company and tell them you strate up want to close your acount

How on earth do I close a credit card account?

Pay the 27.50. Even if you paid before the due date, you were going to have to pay some sort of interest even before you received your statement. That was a given. Then call the credit card company and close the account. Make sure you write down the day you called and who you were speaking to. They should send you a letter in the mail stating that the account has been closed by you.

Closing an account will go on your credit score, but if this is a high interest card with no benefits for you, you need to get rid of it. It will be worth it in the long run.

Even if you have no debt, that can drop your credit score a few points (I know this from experience).

There are so many different card companies out there looking for customers. Make sure you find one that benefits you.

How on earth do I close a credit card account?

Pay off the full account and get a statement of interest before doing so, then once paid off ... cut up the card and send a registered letter to the credit card company and tell them you wish to discontinue the account. I would even go further and sent a copy of your letter to the credit agencies, Equifax and Transunion.

If you have an outstanding Credit Card Balance, how do you justify it?

2009-08-09T05:33:00.001-07:00

If you have a revolving balance on your credit card that means you are in debt and pay alot of interest. It also means that you are an average American because about half of us have a credit card balance that we carry over each and every month.

How did you get into this situation and how do you justify it to your self?

If you have an outstanding Credit Card Balance, how do you justify it?

i don%26#039;t and there is no way anyone can justify it!!!

If you have an outstanding Credit Card Balance, how do you justify it?

I was stupid at one point and started carrying a lot of debt. I was never late on payments, but the amounts owed did get a bit substantial.

Provided you have good enough credit, you can apply for credit cards with 0% interest in balance transfers. This is what I did. I transferred balances from credit carts with 15% - 22% interest to the 0% interest cards, and started paying off chunks at a time.

One can also pay off balances in 1/4th the time by sending half of the minimum payment every two weeks rather than once a month. If your minimum payment is $50, send $25 every two weeks until it%26#039;s paid off. This is because interest on a credit card is calculated daily. If there%26#039;s less of a balance, there%26#039;s less interest charged against it.

If you have an outstanding Credit Card Balance, how do you justify it?

My thoughts on this are...THERE IS NO JUSTIFICATION.......I regret what I did with my cards EVERYDAY...and am paying them off as quickly as I possibly can...you should do the same..the CC companies WANT us all in debt to them and they will have you by the %26#039;short hairs%26#039; if you allow it to keep going.....

If you have an outstanding Credit Card Balance, how do you justify it?

Your in debt as soon as you use your credit card. Even tho you plan on paying it off when the bill comes. We plan on doing alot of things. When a emergency comes up and you dont have the money to pay it off. You get ever farther behind.

Don%26#039;t play the credit card game .

Pay as you go and live on less than you make and you will have money.

Debt is Dumb.

Cash is King.

Debt free is the way to be!

If you have an outstanding Credit Card Balance, how do you justify it?

I stopped justifying it and paid it off. 10,000 in less than a year - more like 9 months. HARDWORK PAYS OFF. I have more money to deal with now than ever. I am not rich, but I have cashflow, unlike my friends.

What is so good about owning a credit card?

2009-08-09T05:33:00.000-07:00

Is this the only way to establish good credit?

I don%26#039;t want to EVER own one bcuz if I really need a ton of money fast I would just atke out a personal loan or something.

It seems getting a Credit Card is the quickest way to debt!

I would like to only stick with a Debit card and getting only Payday type loans when needed.

Is this feesable?

btw, I%26#039;m 17 years old. Just looking toward the future! lol.

What is so good about owning a credit card?

payday loans are NOT a good options. btw.

and to treat credit like money you don%26#039;t have is foolish. the people who own credit cards and who use them wisely benifit from good credit and can get loans with really good interest rates. both i and my parents own credit cards, and we pay off the balance every month. you just have to be responsible.

i%26#039;m only a year older than you, and my credit is in the high 700%26#039;s because i pay off my balance every month and have been doing so since i started. my car loan interest was so low because of this.

but, if you aren%26#039;t used to spending money in this way, i suggest using a debit card until you get used to the idea that credit is not free money.

i use online banking to keep track of my balance and when it is due, and i pay online as well. keeps me on track and out of debt.

What is so good about owning a credit card?

First of all, Payday loans are pretty much the worst type of loan you can get. They are so bad states have to regulate how many of these legal scam shops can open up, and have to limit their interest rates.

Credit cards are almost a must these day. Debit cards have the risk a credit card doesn%26#039;t. If a thief steals your CC info, he can only max it out. If they steal your Debit info? They can clean out your entire bank +3 a few extra that your bank allows.

An alternate way to raise your credit, is taking out loans from your bank, and paying it back slowly. Also sending formal letters to your bill companies, asking them to report to a credit bureau on your behalf. Hope this helps!

What is so good about owning a credit card?

Payday loans are hugely expensive and only for small amounts.

You can%26#039;t get a personal loan from a bank %26quot;fast%26quot;. Especially if you%26#039;re not around to apply for it. Think about being out of town and your car breaks down. It%26#039;s better to have credit established.

There are rule to protect the borrower regarding error and dispute resolution, but these only apply if you really are borrower. They don%26#039;t apply to debit cards because no money is being borrowed. Good credit cards rebate 1% of everything.

I pay for everything on my credit card, get the consumer protection, get the rebate and pay it off at the end of the month, so I don%26#039;t pay fees or interest.

What is so good about owning a credit card?

There%26#039;s different ways to establish credit besides a credit card. What you should understand is that whether you have a credit card or take out a loan, it%26#039;s still borrowed money. People don%26#039;t seem to get that idea. Credit cards by themselves are not bad, it the hands of people that aren%26#039;t responsible enough to use them as a tool instead of a crutch. Like I mentioned earlier, until it%26#039;s paid for, it%26#039;s NOT your money. My belief is that if you can%26#039;t account for it in your check register, then you shouldn%26#039;t get it. If you can%26#039;t afford it, then there%26#039;s a reason that you don%26#039;t have it, bottom line. Even though I work for a credit card company, I%26#039;m not a %26quot;company man%26quot;. I personally use what I know I can afford, simple as that, and I feel people should be the same way. I think that credit cards have their place, but it%26#039;s up to people to put them and keep them in their place responsibly.

What is so good about owning a credit card?

Hi,

I used %26quot;Credit Solution%26quot; to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It%26#039;s legitimate.I came across this company on NBC News Special Edition.Check it out here:

http://simurl.com/cabgun

When someone defaults on a credit card,....?

2009-08-09T05:32:00.003-07:00

When someone defaults on a credit card, after a time the credit card company will charge off the debt. Then a third party will buy the account and try to collect the account. How much does the third parties pay for these charged off accounts?

When someone defaults on a credit card,....?

The third party would get 25% of the collected money.

When someone defaults on a credit card,....?

x amount of cents on the dollar,unsure what the#%26#039;s are

If i pay off my debt of 4,000, will my credit be good? will i be able to get approved for credit car

2009-08-09T05:32:00.002-07:00

i want to pay off my debt,but was wondering if after its paid off and shows paid on my credit report can i get approved for credit cards again ? how can i re-establish my credit? HELP!!!!!

If i pay off my debt of 4,000, will my credit be good? will i be able to get approved for credit cards?

Not right away, there are a number of ways to re-establish your credit, you can try a gas card and make sure you pay the balance in full every month, or if you dont want that hustle due to high gas prices you can first continue to pay all your bills (electric, phone, etc) on time and you can try to get a credit card through your bank

If i pay off my debt of 4,000, will my credit be good? will i be able to get approved for credit cards?

It would depend on where you live? Credit reporting agencies have a scoring system with highs and low%26#039;s even when you pay off your debt you may still have a low score (depending if you were delinquent and written off) did they send you to a collection agency or force litigation against you? these are all determining factors. there are a number of credit card companies that will help you re-establish your credit while offering you a secured card (capital one is one of the better ones)

If i pay off my debt of 4,000, will my credit be good? will i be able to get approved for credit cards?

Paying off your debts is a good thing, but it does not remove the record of the debt from your credit file for at least 6 years.

Believe it or not, your creditors have no legal obligation to inform the credit referencing agencies that you%26#039;ve repaid the debt! Once you repay the debt you can ask for a Certificate of Satisfaction (costs about 鎷?0 per entry) which states that the debt has been paid but, like I said, the debt is not expunged from the file for 6 years.

Just because you%26#039;ve repaid your debts does not mean you will get credit. Each credit card company has different acceptance criteria.

To start re-establishing your credit, I%26#039;d suggest you start by applying for a credit card from your bank..after all, they know your finances better than anyone! If that fails, apply for a card aimed at people with less-than-perfect credit (Capital One is a good place to start, also Aqua %26amp; Vanquis). Be aware tho%26#039;, the interest rates on these cards are high! Make sure you make the repayments on time. Then after about 6 months apply for a more mainstream card (if necessary, approach your bank again) with a better interest rate.

Bear in mind that each time you apply for any form of credit, a credit search is done and stored on your credit file. Too many searches may also put lenders off, as they may feel you%26#039;re making fradulent applications.

Good luck!

Is there such a credit card...?

2009-08-09T05:32:00.001-07:00

Is there such a credit card where I can keep loading money on it but when im out of money the card will not keep charging me, so its impossible to go in debt. I want a card like this because I dont feel safe using my real credit card on the web. I also want this for my eBay acount, so the credit card needs to be able to be loaded on to like a normal card.

Is there such a credit card...?

What you describe is a DEBIT card not a credit card. They are often sold as %26#039;pre-paid credit cards%26#039;. Walk into most Wal-mart type stores or many grocery chains and you can by one. Look for the re-loadable type if you want to keep using the same one over and over.

Is there such a credit card...?

green dot

Is there such a credit card...?

Yes, there are many options for yourself.

Debit cards and prepaid credit cards can help you control your spending. A reloadable debit card allows you to only spend up to the amount you have pre-deposited into the account. If you tend to overspend or would like to control your spending then a pre-paid debit card or prepaid credit card could be a good card for you.

http://www.freeadstb.com/prepaid_credit_... will point you in the right direction to get yourself one of these cards.

Is there such a credit card...?

Sounds like you want a prepaid debit card. Click the link below for some great options that will pay you $10 for referring friends...if they get approved...which...how can they not if it%26#039;s pre-paid. This is a no brainer!

Is there such a credit card...?

Hi,

it%26#039;s not always easy to find the right companies. I%26#039;ve done a little research and found two which are serious %26amp; trusted and without credit checks. They offer such debit cards (also called prepaid credit cards) You might check them out and then choose the one which suits you best:

http://www.usefulresources.info/credit-c...

Hope that helps. Wish you all the best!

Mike

To transfer or not to transfer? Will a credit card balance transfer help or hurt my credit?

2009-08-09T05:32:00.000-07:00

So.... My bank just offered me a sweet balance transfer deal for 1.99% until November of %26#039;08. My credit is pretty decent, I try and keep all of my cards under 30% of my limit.

If I decide to transfer my balances, I would leave a small balance on each card to continue building credit, maybe 5% of the credit limit on each card. The only drawback is that my card that I%26#039;m transfering these balances to would then be at 60% of it%26#039;s limit.

The question of the day, is eliminating debt on my other cards by sacraficing the balance on one going to help or hurt my credit? Keeping in mind I%26#039;ll leave a super small balance on each of my other cards to continue building credit?

Thanks in advance!!!!

To transfer or not to transfer? Will a credit card balance transfer help or hurt my credit?

First and most important; It a financial myth to keep a credit card balance . Keeping a credit card balance will NOT raise your credit score. See the yahoo link i have attached. Halfway through the Q %26amp; A will explain it in detail.

The best way to build credit is to pay your bills, and all of your bills, on time.

Also, to answer your question. It depends. A credit card balance transfer will not hurt your credit if these conditions are met.

1) The amount you owe is a small percentage of the total amount of credit available.

2) You will be able to make timely payments on both credit cards (the one you transfered from, and the one you transfered to)

3) You don%26#039;t plan to cancel the old credit card (the one that you made the transfer from)

Actually, you can learn a lot of about credit from the yahoo business link.

To transfer or not to transfer? Will a credit card balance transfer help or hurt my credit?

My own inclination would be to do the transfaer (to save interest) then cancel most of the other cards and keep only one other (one that gives some sort of cash back eg AmEx blue).

This reduces temptation (just WHY are you paying ANY Credit Card interest ???.= it%26#039;s money down the drain ... STOP SPENDING money you havn%26#039;t got) . Use the %26#039;cash-back%26#039; card most of the time and set up a Direct Debit to pay it off every month... whilst also paying down the Bank Card, ideally to zero by Nov. 08

NB. be aware that, should you get into difficulties, your Bank can take funds out of your current account to pay off your Bank Credit card - you authorise this when you sign the Banks Card terms %26amp; conditions ....

To transfer or not to transfer? Will a credit card balance transfer help or hurt my credit?

I read on Washington Mutual Credit site that I have my Visa with that transfering debt lowers your fico score. The credit card companies would rather have you pay down the debt, so your ratio of available credit is better rather than just moving debt around.

To transfer or not to transfer? Will a credit card balance transfer help or hurt my credit?

I would agree with irsx02 in that one factor is the average percentage of available credit used (debt to available credit ratio). Cancelling credit cards when you have debt can decrease your available credit (and your score). Carrying a small balance on your cards costs you more, and does no more good, than small new monthly charges that you pay off each month before interest applies.

Teaser rates can be deceiving. 3% up front balance transfer fee and 1.99% for 6 months costs more than paying down an existing balance at 10% APR in 6 months. But their hope is that you will delay paying off the teaser before it expires and end up paying more interest later.

Will we go to jail if can't afford to repay credit cards debts ?

2009-08-09T05:31:00.003-07:00

I have 5 outstanding cards which had not been paid for over 1 year due to my unemployment. All of them are over limit.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

No, they don%26#039;t have debtors jail anymore. You are, however, still responsible for the debt. Get a job, cut up your credit cards and get help from a reliable debt counselor that doesn%26#039;t charge you any money. Good luck.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

No they can`t send you to jail.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

File Bankruptcy chapter 7.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

yes jail for 14 years

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

Nope, but your credit is now shot. Couldn%26#039;t you at least get a job in a fast food place or something? You have taken advantage of a lot of people. Well, maybe you don%26#039;t care about your credit.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

credit cards are the devil son. avoid thm like the plague. and no you wont go to jail.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

No....they will eventually sue you and can even go as far as garnish your wages and attach a lien on your property, but you cannot be charged with a crime simply because you cannot pay.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

Nope, the creditor can take you to court and get a judgment requiring repayment. Your wages may be garnished. Try to settle before it gets that far, they generally take cents on the dollar. At this point they just want any payment.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

No, they can%26#039;t send you to jail. They can garnish wages [ job permitting ] and put a lein and property and/or cars.

They best thing to do, really, is to either file bankruptcy. Granted, yes, it%26#039;s bad. But it%26#039;s really not as bad on your credit as people make it out to be. It will be off your report in seven years and you can buy a car or house in three. Your credit is probably already at a point of no return, so you should just wipe it clean and start over.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

NO,NO,NO.Actually there is very little credit card companies can do especially if they are unsecured debts.They can take you to court but very seldom do.It just a bad mark on your credit.But who really cares.Life goes on with good or bad credit !!!!!!!!! Plus after two years they actually cannot collect anyway!Its been a year I wouldn%26#039;t worry about it.Of course you will constantly get letters and I mean constantly,BUT THEY ARE ONLY LETTERS THROW THEM OUT and go about your normal activities.

Will we go to jail if can%26#039;t afford to repay credit cards debts ?

no, there is no debtors jail, but they can and will track you down through your job, and ask for a garnishment. Credit cards are usually unsecured credit, meaning they have no hold on your home. Do not refinance your home to pay them off.

Credit Card Commercials?

2009-08-09T05:31:00.002-07:00

Theres a commercial, I think it%26#039;s American Express... haven%26#039;t seen the commercial in a while... but essentially the commercial plays on the idiots in society (Then again, 90% of the US population is in that catagory).

Eitherway, the one part of the commercial I remember is the fact that a man was buying his fiance a wedding ring and had overdrawn his credit. The card boasts not to have any preset credit limits.

Question: What happens when you exceed your creditlimit?

Answer: You go into debt.

It%26#039;s simple, credit limits exist because people don%26#039;t keep track of their finances. Swipe and worry later they say...

Let alone the commercials that are playing on the ability to %26quot;add a picture to your card.%26quot; This is a major financial decision, not some toy you pick up on your way home from work.

But the worse commercial being that AMEX commercial, It blatantly says %26quot;we are royally f*%26#039;n you%26quot;. But obviously, a good percentage of the US population is stupid enough to fall for it.

Credit Card Commercials?

I%26#039;m glad I%26#039;m not the only one who sees through these freakin%26#039; commercials. The ones I hate are for Visa. Where the world stops when someone uses cash or check? How stupid. You%26#039;re exactly right in everything you said and I agree with every word.

I had to learn the hard way, and I%26#039;m STILL paying for my youthful mistakes. I%26#039;ll never have another credit card the rest of my life. I have two debit cards, and that%26#039;s it. If I need something, I pay for it with money I already have, not money I%26#039;ll have to pay back.

I%26#039;m so p.o.%26#039;d at these credit card companies, I actually started to see if I could email a complaint the other day, and never did (like it would do any good anyway). Thanks for letting me know I%26#039;m not the only one who%26#039;s tired of the corrupt credit card companies%26#039; deceiptful advertising.

Credit Card Commercials?

Not to change the subject, but I hate ALL commercials. All they do is interrupt whatever you sre watching.

I realize that these so called ads pay for broadcasting, but do they have to be sooooo long. By the time the show gets back, you%26#039;ve forgotten what it was about.

My suggestion is , have commercials before and after the show; not every 5 or so munutes.

Dear friend how to to consolidate two credit cards of two diffrend banks onto one low-interest card?

2009-08-09T05:31:00.001-07:00

friend i have a hdfc and sbi credit card , in order to manage my debt i wnat to consolidate both cards onto one low-interest card , is it possible? if so how? pls guide.

Dear friend how to to consolidate two credit cards of two diffrend banks onto one low-interest card?

You can either use your lowest-interest card (as long as it%26#039;s below 10%), or take advantage of one of those many offers you might get in the mail for low or 0% interest cards.

If you use one of your existing cards, call the credit card customer service number. They%26#039;ll send you %26#039;checks%26#039; to use. Write a check for the balance on your higher-rate card, and pay it off. The balance will go directly to your lower-rate card. Sometimes you can even negotiate a deal with one of the banks you have a card with, in terms of lowering the rate or increasing the credit limit. (If you%26#039;ve reached the credit limit on your cards, you can%26#039;t consolidate them.)

If it%26#039;s an offer you get in the mail, be sure the interest rate offer is for a decent period of time, say a year or more. Sometimes it says %26quot;permanent zero balance on transfers.%26quot; Sign up for the new, low-rate card, and check the box that says you want to make a %26#039;balance transfer.%26#039; Sometimes they have a place on the form where you can give the information on the balance tranfer, and they take care of it. Sometimes they send checks you can use to transfer the balance. It depends on the company. They%26#039;re ALL hoping you%26#039;ll use the card for new purchases and increase your debt ... DON%26#039;T DO IT!

Whichever you do, don%26#039;t use the credit card for ANYTHING else. The zero interest rate usually only applies to the balance transfers. If you put new charges on the card, the rate could be as much as 15% ... and payments you make will only go to the balance transfer, so interest rates will keep piling up on the new purchases, and you%26#039;ll be even more in debt. This may sound strange, but you can freeze the card in a container of water, and keep it in the refrigerator. That makes it pretty hard to use!

Dear friend how to to consolidate two credit cards of two diffrend banks onto one low-interest card?

You know the joke about using a MasterCard to pay off the Visa bill? It%26#039;s sorta like that.

In some cases, you can tell the credit card company, when you sign up, that you want to transfer balances, and they will handle it for you. In other cases, the credit card company will send you blank drafts that you can use to pay off the other cards yourself, the drafts being charged to your new card.

Generally, those drafts carry a significantly higher interest rate, but the sign-up transfer does not.

Best way to do it? Call the new CC company, and ask how.

Dear friend how to to consolidate two credit cards of two diffrend banks onto one low-interest card?

Most credit cards will give you two options to transfer balances. First, they will give you convenience checks that you can fill out just like a check from your bank account to send to your other credit card company to pay off the balance. Just make sure that it is considered a balance transfer and not a cash advance. Cash advances on credit cards are usually at a higher interest rate and do not help you.

Second, many credit card companies can now transfer balances electronically. Check and see if your company will do this. If so, all you need to do is give them the credit card information from the card you want to pay off and they do the rest.

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

2009-08-09T05:31:00.000-07:00

i make about 40k a year and have very low debt. I have good credit with a lowest score of about 720. How can I get a signature loan, revolving line of credit, or a credit card unsecured with at least 30k limit? i have other cash avail and lots of equity in my home, which i will not touch. Nor do i entend on racking up on my credit card, but i just want a credit card with a high limit. What are the usual income requirements to get a card with a limit that high?

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

YOu usually wont start with a limit that high but you can ask for it and see what happens. Usually the bank will move it up every 6 months or so after you open the account. I can%26#039;t really think of a good reason to have a credit card with such a high limit though.

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

over 150 000.and a good ,very good credit history .some collateral may be of some help from your bank.good luck

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

I guess my question is WHY would you want such a high limit? If it is for a security blanket of some sort, why not save up $30-$50k of your own money for your use? You could throw it in a liquid Money Market account where it can earn 4-5% interest for you. Several Money Market accounts offer a cash card and check writing abilities (I have Capital One and they allow this). The 4-5% interest isn%26#039;t a WHOLE lot, but it better than NOT getting any interest on that much money. And when you use your money, you won%26#039;t have to worry about paying someone else back.

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

%26quot;K%26quot;....30-50 K ? K is not a proper abbreviation for 1,000, ..................An accepted abbreviation for 1,000 though, is %26quot;M%26quot;.....google it, check it out

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

I totally agree with Kitch above. Not really sure why you want something with such high limit, and saying that you are NOT going to get into bebt. 40K is not that high of annual salary, so even I cannot tell you exact how much income you need to qulify for 30k to 50k loan or credit limit. I know that your income is not enough.

How can i get a credit card with a credit limit of 30k - 50k? unsecured?

You have all heard of the big name credit cards from American Express, Visa and/or Mastercard. The credit card market is going with many other companies having their own credit cards. American Express, Visa, Mastercard, Discover Credit card and Student Credit Cards have been the leading credit cards. The American Express credit card would be the top choice for many people looking for a credit card.

http://creditcard-guides.freehostia.com

Is it bad to have an unpaid debt on your credit file?

2009-08-09T05:30:00.002-07:00

I have a $350 Cingular phone bill from 2004 which is with a collection agency called AFNI right now. They offered me 50% off as settlement a while back but I just held back. Now though I am trying to fix my credit and this is the LAST debt on my credit file which remains delinquent and unpaid.

Anyway...from what I have been reading here on yahoo answers if your delinquent debt is more than 2 years old, which mine is obviously, then it doesn%26#039;t hurt your FICO score that much.

OK..now what about specific customized FICO scores--like the ones that they use just for store cards or credit cards? Do those specialized FICO scores smack you really hard for 120+ day delinquent collections account? More so than the %26quot;generic%26quot; FICO score? Also do some stores like target, bestbuy, sears just say NO to you if you have a delinquent collections account, no matter how high your FICO?

Is it bad to have an unpaid debt on your credit file?

Here%26#039;s a tip for you. AFNI is a very sleazy low rate collection agency. Try sending them a demand to validate letter, and that will usually make them go away.

Is it bad to have an unpaid debt on your credit file?

Unpaid debts do affect your FICO score, but you are right in stating that they don%26#039;t affect them as heavily the older they get. If you were to pay it probably wouldn%26#039;t do too much for your score, if that is your primary concern. The fact that it went to collections is already damaging the score.

That being said, I am a believer in paying for the debts that you owe. You may be able to bargain with them to get the amount even lower. I, too, would do the debt validation first to make sure they have properly purchased the debt. They may tell you things like you will be possibly sued, etc, but they won%26#039;t sue over that amount. And there can%26#039;t be any garnishment of your wages until a judgment is given, which more than likely will never happen.

My recommendation is to continue to offer them 25% of the balance until they take it. If they say they can%26#039;t accept just get off the phone and make the same offer in another week. Eventually they will take it.

Is it bad to have an unpaid debt on your credit file?

They are probably calling because the state statue of limitations is about to run out to collect on the debt. Do not pay it. The reason, if you make payment on your credit report the debt will be on there seven years from the date of payment. Right now you are three or four years into the seven years already. Why would you want to start the seven year reporting history on the debt all over again? The seven year period of reporting ends at the last activity on the account. You will be hurting yourself by paying. Also, as for some stores will not give you credit because of collections BS. I have two collections on my account and have never been turned down on any line of credit. Including Best Buy and a 150,000 dollar business loan with no collateral. Yes, my credit score is high over 780. Tell them to get packing. If you feel guilty. Donate the money to charity you would have paid them. They just want to reset the statue of limitaions.

Is it bad to have an unpaid debt on your credit file?

Yes, but you can get it removed read this article http://www.adviceontime.com/Credit/Credi...

Is it bad to have an unpaid debt on your credit file?

In your sitation,I would like to suggest you have a look here.http://debt-consolidation.featured-resou...

Is my American Express Gold Card actually harming my credit score?

2009-08-09T05:30:00.001-07:00

I%26#039;ve worked hard over the past few years to improve my credit score. I%26#039;ve paid off all of my debt and have %26lt;10% utilization on credit cards during a given month, only charging things here and there and then paying them off to prove I can handle revolving debt responsibly.

I also have an American Express Gold Charge card. I%26#039;ve been using that to charge the majority of my monthly expenses for rewards and, again, to show that I can handle paying off my debts each month.

When looking at my credit report, however, I note that American Express doesn%26#039;t report an upper limit, just the high balance. Since my usage is about the same each month, it looks like I%26#039;m constantly at the high end of that %26quot;utilization.%26quot;

Am I harming my credit by not using a credit card with a high limit to do this charging, or do the bureaus score charge accounts differently?

Is my American Express Gold Card actually harming my credit score?

Keep doing what you are doing and get those points. I do the same thing. I have2 amex cards. My credit is good too. The main thing lenders check for is negative factors. And how much money you have to spend monthly. Just curious what does the account type show on your credit report?

Just to add to this I found something out that they should not list a balance unless you are using your extended payment options or Sign %26amp; Travel, so if you have those then that might be why it shows a high balance but I was also told, that in some cases that since the credit limit is not reported, that it automatically is perceived to be a charge card.

Is my American Express Gold Card actually harming my credit score?

it all has to do with paying all the bills on time...........

nothing else!

you can even pay less than the minimum and if the payment is made before the due date the computer reads it as %26quot;paid on time%26quot;

you can have one bank and one good banker and a perfect credit score. you don%26#039;t need a credit card!

Is my American Express Gold Card actually harming my credit score?

madmilker is incorrect. Credit scoring has to do with a lot more than paying your bills on time. And, yes, it is possible that by using a %26#039;no-limit%26#039; card you can harm your credit score, especially if you charge about the same amount every month.

In most, if not all, credit scoring models, charge cards are not treated any differently than credit cards where no limit is reported. Capital One is known for not reporting limits on any card, and there are several %26#039;no-limit%26#039; Visa and Mastercards by other issuers that have this issue, too.

Here is a story that shows an example of someone whose credit score dropped by 35 - 50 points when he started using a no-limit card for most of his expenses: http://www.bankrate.com/brm/news/cc/2006...

Is my American Express Gold Card actually harming my credit score?

It is true that a credit card like the one you mentioned does affect your credit score. Capital One also does not report a persons credit limit either, but only their high balance. Doing it that was keeps a persons credit score lower, possibly allowing banks to be able to charge higher rates.

Interesting side note about cards with reward points, 80% of people never use their points. Personally I%26#039;d dump that card for a better one, or just use my debit card for less hassle

Is my American Express Gold Card actually harming my credit score?

The following critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one.

1. Re-payment history

This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score.

2. Outstanding debt

The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is

30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum.

3. Length of your established credit history

The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score. Read more from: http://www.credit-card-gallery.com/artic...

How can one improve their credit if they don't have any credit, but a lot of debt.?

2009-08-09T05:30:00.000-07:00

He has a lot of debt, about $20,000. It relates to back child support incurred while in a situation about 7 years ago where he was unable to work, and ignorant to the idea that he should have went to court to reduce his payments. He came out of the situation with about $15,000 worth of back pay. The only other stuff on the credit report was related to ambulance fees, hospital bills and a Macy%26#039;s bill. The Macy%26#039;s bill didn%26#039;t even list an amount owed, it just said the account was closed. He doesn%26#039;t know what he owes or could owe to Macy%26#039;s because he was not the one using the card nor receiving the statements. This was 7 years ago as well.

How can he fix this. No one will give him a credit card, (he%26#039;s tried.) He pays the child support regularly and my caulculations suggest that at the rate his payments go, it will be 4 years before that back pay is almost gone. He can%26#039;t afford to give more. He doesn%26#039;t bring enough home now to pay his rent each month.

Is there really no way out?

How can one improve their credit if they don%26#039;t have any credit, but a lot of debt.?

Negatives fall off the credit report 7 years and 180 days from the default date.

The closed Macy%26#039;s account may be just that and there%26#039;s nothing owed. The back child support is probably in the public records section and will be on there more like 10 years.

The only thing he can do is pay off the bills, including that child support. Then he can try to get a credit card and build a credit history.

How can one improve their credit if they don%26#039;t have any credit, but a lot of debt.?

Obvious question: Why does someone with 20K of debt WANT a credit card? To get in MORE debt?

I%26#039;ve never understood why people who are in the most debt are most concerned with their ability to borrow more money.

How can one improve their credit if they don%26#039;t have any credit, but a lot of debt.?

My experiance in Canada with credit reporst is that 7 year old information dosent automatically drop out of the credit report. He can try to get a secured credit card. The credit card will be secured by cash colladeral. The lender may still not be convinced to give him a credit card as his debts servicing ratio may be too high because of all the money he owes. But a secured credit card is your best bet.

Credit Card balance transfer question???

2009-08-06T22:43:00.002-07:00

I%26#039;ve had this 0% card since Feb %26#039;07, and the 0% turns to 11% in Feb %26#039;08. I%26#039;ve run up $4,000 on it, my limit is $5,500. I%26#039;ve paid the minimum on time every month. At 0%, I figure there%26#039;s no point in paying it back before I have to. I%26#039;m in grad school and can%26#039;t work my full time job - I%26#039;m on student loans and a peanuts part time job.

I%26#039;ve been getting all kinds of offers for no fee, or low fee, 0% on balance transfers for up to a year (different rates for additional purchases, but I don%26#039;t plan on using the new card for anymore purchases).

Should I pay off the existing CC before the 0% is over, or transfer the debt to a new card and stay at 0% for another 6 months/year? If possible, please also explain how either option would affect my credit score. (This is the first CC I%26#039;ve ever had; I don%26#039;t have utility bills in my name currently; I have completely paid off my undergrad student loans that were in my name; I haven%26#039;t ever had a car loan or mortgage; %26amp; I%26#039;m 28).

Thanks a lot!

Credit Card balance transfer question???

Many people do balance transfer (BT) from one card to another if the balance on the first card isn%26#039;t likely to be paid by the time the 0% or low interest promo expires.

I would not recommend doing it more than once since your creditors, even those that have nothing to do with these acct%26#039;s, will notice and may think you are having financial problems and might possibly take adverse action on your existing accounts. Such as, decreasing your credit limits, raising your interest, closure of accounts, etc.

Just because other creditors are not involved with those accounts does not mean that they do not keep an eye on how you treat %26quot;all%26quot; of your other accounts.

Be sure to read over all of the BT terms and general card terms before applying for any card.

I would not recommend that you keep applying if you are denied. If you are denied once or twice, you would be much better off to stop applying and paying off the existing card before the promo expires.

Right now your existing card is hurting you since you have over utilized it by having a $4k balance on a $5.5k credit limit.

Once it is paid off it should raise your scores.

If you apply for a card to BT to, you will have a ding for the inquiry. If you are approved, since your file is thin, you will have a ding for the new account reporting.

If your new credit limit is similar to what you currently have and you BT the full amount, you will over utilize that account which will also ding your scores.

If you are not planning a major purchase in the next 6-12 months, the dings may not mean much in the grander scale of things. Since in a couple years, as long as you keep both accounts in good standing, your accounts will have more age to them and you will show a positive payment history, which will definately help your scores.

Credit Card balance transfer question???

It%26#039;s not a great idea to transfer the balances between cards unless you have no other way to do it! Yes it will hit you credit score but it won%26#039;t be too devastating! Pay it off or down if possible.

Credit Card balance transfer question???

Yes, pay it off before the interest rate changes and then cancell the card.

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and cre

2009-08-06T22:43:00.001-07:00

for example will the bank or credit card company bankrupt you for 20K more or less for loans, or 5K more or less on cards..

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and credit cards?

no one %26quot;bankrupts%26quot; you...you needs to declare it yourself. And it should be the last possible measure.

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and credit cards?

If this is an English question, anyone you owe 鎷?50 or over can move to make you bankrupt if they do not think you have the means to pay them.

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and credit cards?

If you%26#039;re in UK (Scotland) it%26#039;s at least 鎷?500 debt you%26#039;ve to be in. You have to go to your lawyer to file for bankruptcy.

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and credit cards?

As said you can be made bankrupt for 鎷?50 or more but the thing the banks think about is do you have any assets for them to claim. Unless you own property or have something of value then they will more than likely get nothing so it isnt in their best interest to do so, the official receiver and all their costs come first so they will just plague and chase you instead, better to deal with things yourself or make yourself bankrupt if you have no options to pay the money back.

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and credit cards?

To be involuntarily filed as a bankruptcy (in the US), THREE creditors need to file the petition. I can pretty much guarantee credit cards aren%26#039;t going to waste their time because they won%26#039;t get any money out of it.

On which amount of debt banks take option of bankruptcy on someone in debt on personal loans and credit cards?

Its not the amount that brings the bankruptcy option into play

its the conduct of the debtor....eg not communicating with them

What happens if I don't go to court because I debt I have with credit cards?

2009-08-06T22:43:00.000-07:00

I already try a debt manager but they will charge me a lot for their service plus I would be making big payments as I%26#039;m now..(dont see a benefit) so a lawyer mmm(no $$)so...if they send me 2 court what will happend if I try 2 hidde or even go away from the country? I dont have nothing under my name...no car, no house, no accounts, not even bills..that my partner always takes care..wich makes me wonder also: becuz he%26#039;s related 2 me ..Will they hurt him also?

What happens if I don%26#039;t go to court because I debt I have with credit cards?

If you do not go to court, you automatically forfeit any chances to settle the debt. Not appearing is saying:

you acknowledge that this debt is valid and the collector may do what they deem necessary in order to retrieve what is owed.

Collectors are trained to be aggressive and use scare tactics to get their money. I told one collector:If you squeeze the utters on a cow and no milk comes out what does that mean?

He responded:There%26#039;s no milk.

I added: Exactly. In simpler terms, you can call my home every day and you can threaten to take me to court but that wont guarantee that you will be paid.

Young Lady you have to be responsible. You also deserve to live a normal life. You don%26#039;t have to pay an expensive lawyer in order to resolve this debt. If you are making payments now. Start saving that money to pay for your Bankruptcy.

A few months of late payments wont hurt you severely.

Prior to making your final decision,do your research.

Evaluate what option works best for you.

if you are planning to move or get a new apartment, filing bankruptcy can harm your opportunities.

America is in debt why would you think that you would have to move in order to eliminate your debt. your social security number remains the same unless you get married and even then your information can be cross referenced.

Don%26#039;t worry. it aint that serious. Get you some rest.

What happens if I don%26#039;t go to court because I debt I have with credit cards?

Don%26#039;t pay!!! It is a ripoff! They will definitely let you walk. They are just trying to scare you. Just go on with your normal life.

What happens if I don%26#039;t go to court because I debt I have with credit cards?

Look into declaring personal bankrupcy.

What happens if I don%26#039;t go to court because I debt I have with credit cards?

i dont know-sorry

What happens if I don%26#039;t go to court because I debt I have with credit cards?

you are correct.

don%26#039;t pay for advice, use the money against the debt.

honey, you got to spend less.

nothing under your name, you can ignore them.

but you should tell the card holder about the problem, and spend less.

What happens if I don%26#039;t go to court because I debt I have with credit cards?

Hiding or runing away from court will just make things worse I%26#039;m afraid. If you have a partner that pays bills you can%26#039;t declare bankruptcy as you are clearly his dependant. Either sort your debts out it%26#039;s gonna cause major trouble for yourself and your partner.

What happens if I don%26#039;t go to court because I debt I have with credit cards?

I hope this helps you:

Strategies to Reduce Debt Quickly

http://www.complete-debt-info.com/catego...

What happens if I don%26#039;t go to court because I debt I have with credit cards?

They can go after him only if his name is on it. Leave the country?? This must be a really big debt. If you don%26#039;t go to court you automatically owe it. Once that%26#039;s been declared they can and will do anything to get their money. This includes garnishing bank accounts with your name on it. Once they hire a collection agency and they%26#039;ve got court papers saying you owe it, believe me, you will pay. They may even wait a while to let the interest go up.

Will paying old debt help or hurt credit score?

2009-08-06T22:42:00.001-07:00

I have 2 old credit card accounts, one is collection and one is showing charged off as bad debt , that I could payoff in 2 yrs, or I could do nothing and they will rotate off in 4 more yrs. If I pay off the accts, will it improve my score or hurt it? I%26#039;m afraid they%26#039;ll be on my report for 7 more years from payoff date (9 yrs from now) even though finally paid because they were collection accts.