Thursday, August 6, 2009

Is this credit card offer good to clear my 4,000 debt?

I have this 4,000 debt from years ago that i haven%26#039;t been able to pay. I recently received an offer in the mail saying that they could transfer this debt into a credit card with 0% APR and no annual fee. BUT first i had to pay $113 a month for 3 months (that would go towards my debt) than they%26#039;d take out 1500 off of the 4,000 and transfer it over to the credit card (it%26#039;s called an emblem mastercard i think).



Is this a good way to pay off my 4,000 debt? Has anyone else received an offer like this? I also heard that the offer i received could also bring down my already low credit score more.



Is this credit card offer good to clear my 4,000 debt?

How long ago this debt went into default ? Check your state%26#039;s statue of limitations. Usually it will drop off in 7 and half years. I would not accept this deal. You have to obtain your credit report and contact the creditor/collection to make a pay-to-delete deal if you want improve your credit now.



Is this credit card offer good to clear my 4,000 debt?

It sounds fishy. You really don%26#039;t know if the $113 will go toward the debt. I would be very skeptical. The transfer to this %26quot;credit card%26quot; only takes place after 3 months. So how can your payments to this credit card reduce debt that is elsewhere? I would stay away from this.



Is this credit card offer good to clear my 4,000 debt?

Sounds like a ripoff.



Is this credit card offer good to clear my 4,000 debt?

Why would you want another credit card in the first place! try to get a loan from your bank to pay it off. and stay away from quick cash places it%26#039;s only going to get you into more debt!! i%26#039;d see about maybe asking your mom and dad to co-sign on the loan to get you a better interest rate and lower loan payments. do not get another credit card! if you could%26#039;nt pay it before, your only digging your hole even deeper! if you have a spouse maybe they would be able to help you get a loan. just a thought. Good luck!



Is this credit card offer good to clear my 4,000 debt?

You will be paying 339.00 for nothing..contact the the original credit card company and negotiate a settlement with them and deal directly with them only. You do not need a %26quot;middle man%26quot; to do this. I am afraid that you will pay this 339.00 and then they will tell you that you do not qualify for their card..you are out 339.00.



Is this credit card offer good to clear my 4,000 debt?

You%26#039;re still going to owe the same amount of money and chances are that great rate is going to jump to the moon after a few months and if you are late even once it will go even higher. Look for a reputable bank with a reputable consolidation loan or call the company you owe the money to and negotiate better terms on the debt if possible and before you do ANYTHING, read the fine print. The more complicated these offers are, the likelier they are to be bogus or have hidden charges or extra conditions that will skyrocket your interest rate and get you into even more debt.



Good luck!



Is this credit card offer good to clear my 4,000 debt?

You should not pay off debt with debt. That just defeats the purpose. Have you tried calling the creditor and seeing if you can get the amount lowered and start a payment plan? This will be your best option to getting rid of this debt.



The other option is to contact a non-profit Credit Counseling agency like Delray Credit Counseling - http://www.delraycc.com



Is this credit card offer good to clear my 4,000 debt?

It is not easy to answer your question in one words,you would better find it out here yourself.http://creditcard.expertips.info/low-int...



Is this credit card offer good to clear my 4,000 debt?

sound like a scam if you have to go further into debt by $339 first - why don;t you just pat $113 a month towards the existing credit card balance - the new card isn%26#039;t paying anything off, it%26#039;s just transferring it to another card and the int rate probably isn%26#039;t any lower than you%26#039;re already paying - get a 2nd part time job and use all that money to pay off your debts

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