Posts Tagged ‘bankruptcy’

Are There Homeowners who Walk Away from their Credit Card Debt?

I have an elderly aunt who owns a modest home. She was almost bankrupt but worked very hard to pay her credit card debt out of fear of losing her house.

Do people who own homes outright end up simply not paying their credit card debt? I am so curious as to whether people who own homes "get away with" not paying off their credit cards.

Was my aunt "foolish" compared to other people because she didnt’ simply declare bankruptcy?


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what is the effect (on credit history) of settling a debt with creditors?

I am trying to settle my debt (from credit cards) with two creditors. I am a complete ignorant of how these works.
Please help answering the following :

1) Is settling better than bancruptcy ?

2) Are there different types of debt settlements ?

3) Does it make any difference if I settle with the Bank or with a collector ?

4) how do you compare the effect of settlement vs banckruptcy on credit history ?

5) Is auto re-possesion equivalent to bankruptcy ?

Thank you…


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problems getting a low interest credit card due to bankruptcy 10 yrs ago?

hi, I had to file a bankruptcy 10 yrs ago(in May) due to my husband (who is an ex now) charging up my card almost ,000 and running off with his new girl friend leaving me with a debt I couldn’t begin to pay since I wasn’t working at the time. What Im asking is why am I still being penalized and denied credit or offered ridiculously high apr rate cards after 10 yrs of excellent credit. I now have 2 cards that I didnt go bankrupt on cause there were very low balances on them and I was able to pay them off but in the 10 yrs I have been making payments not only on time but twice a month and very high payments, for example I made a 00 monthly payment on a $ 10,000 balance and always on time or early so I have had really great credit in the past 10 yrs and the bankruptcy wasn’t my fault and still I can’t get a decent low interest card, they keep denying me due to my past "bankruptcy" and the cards I already have refuse to lower my interest rate. Can they do this, I canceled one of my high interest cards, paid it off in full and now I only have one card left with 16.9% interest which I think is still too high so I keep applying for lower rate cards and get denied. I don’t get it, Im a perfect candidate for credit and they still deny me. Meanwhile my sister had a bankruptcy 12 yrs ago and she was able to get a 3% interest rate card with no annual fee. And she had a 0,000 balance when she went bankrupt, I only had ,500. It doesn’t seem fair. Sorry this is so long, I don’t know how to make a story short..lol
my 10k balance is now down to 3k, I am paying it off 00 a month. My total credit card debt on all my cards(2) is 4500 and I should have the whole thing paid off in the next 3 months. No more charging for me after that, Im canceling my cards and just using cash. I’ve had it with credit cards changing the rules and doing what they want.


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How can I get a better credit card rate?

I have been calling my cc companies to negotiate a lower rate but to no avail. I have First Premier ( excessive fees) and Orchard Bank. Both rates are over 20%! I filed bankruptcy about 9 years ago, but have been paying more than the minimum due, and have never been late. Should I keep calling, or just pay them off and cancel?. I have been turned down for cards with lower rates. I have had both cards for more than 5 years, but the rates keep going up! Please help. Thanks

What's the best credit card to get after a bankruptcy?

I declared bankruptcy three years ago. I’m being deluged with credit card offers. Is there a best card to go for, a best interest rate, or should I just forget the whole thing and stick it out with my Visa debit card I have through my bank?


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How to disclose poor credit after job offer?

The interviews went very well and I landed a (tech) job offer that I accepted. However, I have a poor credit score due to a bankruptcy declared two years ago. What should I do when I will be asked to sign for credit check and for a company credit card (amex who certainly will refuse) on the first day? Could the company rescind the offer? What should I do now that I already resigned from my previous employer?


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