Credit Card Debt

Posts Tagged ‘credit card debt’

What is the best way to settle your debt. Should I contact Credit card bank or debt relief company to settle?

I am a single parent and have close to $ 15,000 in credit card debt. I tried calling credit card company to make an offer in lower amount. Do you think if credit card company settle with in lower amount of payment would it affect my credit history. What is the best way to go

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What is the best way to re-build your credit after receiving your discharge papers? ?

I just received my discharge papers this month after filing a Chapter 7 BK for having too much Credit Card debt , among other things.

I already have a secured credit card of a 0.00 limit.

I have been receiving (via mail) some credit card offers that say that they will help people with bad credit get back on their feet and help you build good credit. Then I am tempted, but I am not sure about them. Then I throw them away.

What do you suggest?

Thanks!

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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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Should I pay off my credit cards before I build an emergency fund?

Right now I have 00 in my checking, 00 in my savings account, and I setup an automatic payment of 0 into my savings account every month. I receive about ,000 in take home pay each month and my expenses are about ,000 including credit card minimum payments. I am wondering if it would make sense to stop putting in 0 into savings and pay off the credit cards instead. A lot of financial experts recommend to have at least 3 months of expenses into savings, however I want to lower my credit card debt and I wont be making nearly as much in the savings account compared to the loss in credit card interest. I also refuse to use any of my credit cards, and if an emergency comes up I am not sure if ,300 is enough. Please help!

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Can I keep using 0% APR, $0 fee balance transfer offers every 12 months to pay off my credit at 0% APR.?

I have about ,000 in credit card debt at 16% APR. I’m going to use a balance transfer with no fee to a card with 0% for 12 months. Can I just do a similar transfer every 12 months to a different card (with similar terms) to keep getting the 0% rate? Does this affect my credit score? Any pitfalls or fine print details I haven’t considered?

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pay off credit cards or use with buying a car?

OK, I know I need to get a different vehicle soon and what better time to do it then at tax time? I am anticipating about ,000 back and I was thinking of using it to assist in purchasing a vehicle, but then I got to thinking, "Would it be better to pay off ,000 of the ,400 in credit card debt i’m in or use it for the vehicle?" The credit score analyzer calculator said my score would be around 680 if I paid my credit cards down that much (compared to my current 647 score). Should I pay that towards credit cards or use it toward a vehicle. Either way, I am going to the bank to get a vehicle loan, so if I used that ,000 toward a vehicle, that would be a ,000 less I need to borrow. I am stuck on this one guys…any suggestions?

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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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Is it better to pay off revolving debt at a low rate or installment debt at a higher rate?

Let’s say you have a student loan at 8 percent and credit card debt at a fixed 3.99 percent. Conventional Wisdom says pay off the higher rate debt first. But, I have read that paying off credit card debt faster improves your credit score, which can save you thousands on a mortgage. So is it better to pay off the lower rate credit card debt and improve the credit score, or the higher rate debt and save the immediate money on interest.

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How much do you/people spend a month on credit card payments?

I want to know because after reading about all the debt that you/people are all in in this credit category I don’t want the big dollor low intrest rate no fees credit card that are allowing people to spend like theres no tomorrow. Like no fees 9 % rates or lower, 10,000 and up credit rate . I will never spend more than 0 dollors on my credit card for something and will not use it again untill i pay off that in 3 months. Everything eles will be done with the debit card. I think some people are better off with the low credit rate credit cards with the 19 % plus rates to keep them under controll .

What are they buying to get in 10,000 to 26,000 dollors in credit card debt ending up fileing bankrupcy that they can’t wait to get??
Thanks everyone for the "GREAT" answers !

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Would it be better to pay off my car or put towards high interest rate credit cards?

I just got a loan with a lower interest rate to consolidate some debt… but now I’m wondering if I should just pay off my car with it which has the same interest rate and free up 0 month which I can apply towards my high interest rate credit card debt. Or should I just apply it to my credit card debt and continue making car payments for another six months?