CREDIT DEBT help me out!!?

Question by Amerikanbadboy716: CREDIT DEBT help me out!!?
i have about $ 2500 in debt,medical,credit cards and its been about 5years but now i want to buy a car and im not sure if i pay all the debt back if it would be removed from my credit report? SO CAN SOMEONE HELP ME ANSWER THIS QUESTION?…. AND WHERE SHOULD I START?

Best answer:

Answer by kshawks18
Valid trade lines will not be removed from your credit report until the standard reporting time of 7-7.5 years has passed. Even if you go through and pay all your old debts off, the trade line will be updated to reflect that, not removed.

Add your own answer in the comments!

Old Credit Card Debt?

Question by Dave B: Old Credit Card Debt?
I recently was reminded about old credit card debt in the mail. It’s been some time since I’ve had the card. I’ve rec’d a few nasty calls from NCO financial, whose purchased the debt. My question is would I be able to deal directly w/ the CC company to settle or do I have to deal with the collectors?

Best answer:

Answer by Steveo
I believe that you are stuck. Try to contact the cc company first and see if they Will listen. They either have a commission agreement with the collector, or the collector bought your note.

Call now.

Give your answer to this question below!

Credit Card Debt?

Question by susanna: Credit Card Debt?
Hi everyone,
My husband has over $ 200,000 in unsecured credit card debt. All his salary goes to minimum CC payments, which does not do much to the principal. We wanted to try Credit Card counseling services but I read it shows on your credit report as Chapter 13 Bankruptcy? Does anyone know what lawyer we should contact?
Thank you for sharing your experience.

Best answer:

Answer by PelMel
It won’t show as a bankruptcy because it isn’t. It will likely, though, show you as a late payer, which isn’t the end of the world considering your situation. I highly recommend Consumer Credit Counseling Service, which is reputable, non-profit, and nationwide. Here’s a link below for the Atlanta office, but you can contact the office in your area.

You should also consider working more hours or getting a second job to pay down the debt, which is considerable. Of course, you should cut out all discretionary spending. Good luck!

p.s. If you are considering filing for bankruptcy, CCCS can advise you about that, too.

What do you think? Answer below!

advice on credit card debts?

Question by innocent_love: advice on credit card debts?
I am working full time for the past 4 years and my yearly income comes out to be around 60k. Through out this time I have had and kept a good credit history. Last year I helped a family member in financing for a house, even thought I not a co-owner, or paying any part of the mortgage.
For the past few months I am trying to pay off few credit card debts, but the apr isn’t making much of the difference. I have tried to apply for other credit cards (balance transfer) and even tried for personal loans, at wells fargo and credit union. But i was denied or offered with high apr rate. One of the reason I get denied is “Proportion of loan balances to loan amounts is too high”.
My question is, is this only because of the the credit card debt (total amount 13,000), or also because of the mortgage loan that is showing under my name?
Would it help if my name is taken out by refinancing home mortgage loan?
And if refinancing can’t be done for another, is there a way to get approved for any credit card or loan with low apr?

Best answer:

Answer by falsi fiable
You cannot remove your name from a mortgage obligation without the homeowner obtaining a new mortgage that doesn’t include your name.

If you work at it, you should be able to payoff that $ 13,000 of credit card debt in less 3 to 5 years. That means belt tightening and giving up some luxuries, like cable TV, eating out, and cell phones.

Know better? Leave your own answer in the comments!

I have credit card debt?

Question by aaaer15: I have credit card debt?
I am a foreigner. I would like to know if I don’t pay off my credit card debt and leave united states. What is going to happen??? Will I be sued even if I am out of United States?

Best answer:

Answer by NickJr
May not be sued if the amout is not that big. But, leave the country with debt and forget about getting back here. – ever.

Give your answer to this question below!

Reducing credit card debt?

Question by Hannah B: Reducing credit card debt?
I am on a budget, successfully last two years. Before then, we racked up nearly $ 9000 total in credit card debt on five cards. (home repairs, stuff). We have paid our credit cards on time, and have NO credit cards now. My problem, I am aggravated. Before my budget, I was late paying on two cards , and all cards jacked my rates to nearly 30%. So, even paying on time the last two years, the companies still deem me ‘risky’ since I only pay minumum. I still owe $ 9000!! I asked for a payoff amount, since half of what is owed is interest and penelties. They all say no, nor will they reduce the interest rate. (heck, they have a gold mine with me!) Anyone have luck with a letter asking creditors to take a lower payoff amount ?? I am caring for an ill son so i can’t work, and my husband’s job cut back so we are getting half of what we were earning. I don’t want to do debt consolidation, since they tend to be a scam. If I can’t negotiate a lower payoff amount, how can they?

Best answer:

Answer by DP
I am sorry…. we all have our share of troubles.
Its awful when all those creditors stand in the wings like vultures waiting to pick your bones!! Nobody wants to give you a second chance. Hang in there.. You have to think positive and trust that positive energy comes back to you!
I wish you the best!

Give your answer to this question below!