How to handle credit card debt the best way possible???

Okay, here%26#039;s my situation: I have 7k I put on a 0apr till 08-08 but my husband%26#039;s is out of control. He has three cards totalling 22k alone. One is at 4% that has the highest balance the rest is at least 15% with 5k in one and 3k in one. Financial geniuses this one is for you!!!!

How to handle credit card debt the best way possible???

I am not a financial advisor, but I do know credit. The balances of each of the cards needs to be below 40% LTV. In other words, if you have a credit limit of $1,000.00 you must get the balance below $400.00. Your credit score falls 10 points when you go over 40%. 20 points when you go over 50% and 30 points when you go over 60%. When you max them out it kills your credit. Do what you have to in order to get those balances down and quit giving your hard earned money to the credit card companies.

Good luck!

How to handle credit card debt the best way possible???

Pay at least the monthly minimum on all of the cards. If you can afford to pay more than the monthly minimum, use extra cash to pay down the card with the smallest balance first. In your case, the smaller balances also carry a much higher interest rate, so you don%26#039;t want those balances to continue growing and compounding the interest.

How to handle credit card debt the best way possible???

Consider speaking to a financial advisor. Best scenario would be consolidating your debt into monthly payments and cut up your credit cards.

How to handle credit card debt the best way possible???

Declare bancruptcy, pay off, and never use credit cards again.

How to handle credit card debt the best way possible???

Try this: go to www.powerpay.org. It is a free site that will break down your debt and tell you many different scenarios about your current bill situation. It%26#039;s really neat! You put in your information and then you can select the payment plan that a) saves you the most money b) saves you the most time c) saves you the most interest, etc. It also talks about the power pay concept...you pay one bill off completely and use the money that you were paying on that debt and apply it to the next debt you want to pay off. It%26#039;s interesting. I hope it helps!

How to handle credit card debt the best way possible???

I had much the same problem with about 15K in credit card debit that probably would%26#039;ve taken me about 15-20 years to pay off if I only paid minimum on all cards. My personal solution was to use a debt management company to help me. They consolidated all of my debt into one payment and I paid it off in a little over 3 years. They get your creditors to accept a minimum payment from you and they either stop charging you late/over the limit fees (if you have them) or lock in an interest rate. Doing this was probably one of the best decisions I ever made. *The only thing you have to watch our for though, and I didn%26#039;t know this until I read Suze Ormans%26#039; book %26quot;The Money Book for the Young Fabulous and Broke,%26quot; was that when I consolidated using that agency, they advised me to close all of my accounts. I thought this was a good thing because it shows that I want to stop my bad behavior, but closing accounts cuts off your history. You don%26#039;t want to do that. Suze Orman suggests leaving your accounts open and just cutting up the cards. She also suggests paying down the ones with the higher balances first. Once those are paid off, use the extra money you have to apply to your next lowest card balances, etc. I highly recommend her book, it%26#039;s been very enlightening. Good luck to you.

How to handle credit card debt the best way possible???

Hi,

I used %26quot;Credit Solutions%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 accross this company on NBC News Special Edition.Check it out here:

http://www.anrdoezrs.net/click-1813149-1...

How to handle credit card debt the best way possible???

Small steps like paying your bills on time and using only part of the credit available to you. Also use your credit cards for making small payments regularly, so that it is reflected in your credit record. More tips available at http://www.acreditlibrary.com/buildcredi...

How to handle credit card debt the best way possible???

pay your debts on time

Can credit card debt be consolidated after it has been sold to an outside collection agency?

Or do the bills have to be with the original lenders? Also, if there are judgements against you, can those bills be consolidated as well?

Can credit card debt be consolidated after it has been sold to an outside collection agency?

Hi, perhaps you will find some help here :

http://credit-cards.ebookorama.com

and here http://finance.ebookorama.com

also plenty more to read here

http://credit.ebookorama.com

http://credit-repair.ebookorama.com

good luck! if you get any luck please don%26#039;t forget about me lol, hope it helped you.

Can credit card debt be consolidated after it has been sold to an outside collection agency?

yes

Can credit card debt be consolidated after it has been sold to an outside collection agency?

If your debts have been sold, they can do whatever they like with them.

Can credit card debt be consolidated after it has been sold to an outside collection agency?

You should still be able to -- basically, consolidation is taking out a loan with a NEW company, and using the borrowed money to pay off all the other outstanding debts...

Can credit card debt be consolidated after it has been sold to an outside collection agency?

Yes, you just name the collection agency instead. They will take 40 cents on the dollar to get it gone, rat bastards that they are... :)

Can credit card debt be consolidated after it has been sold to an outside collection agency?

yes all the bills can be consolidated. try to find goverments non for profit organizations that will help you consolidate your debts. If you don%26#039;t the only thing you are doing is getting a new loan to pay the other ones and still pay interest on it. Sometimes is worth it some times is not, do the math.

Can credit card debt be consolidated after it has been sold to an outside collection agency?

no, you got to do all those araingements with the orgininal lender...quick! the collection agency...just want as much out of you now as possible...there have to send you a notice within 5 days...from the day there got the default load from the original lender...its the law!

Can credit card debt be consolidated after it has been sold to an outside collection agency?

Absolutely.

Does credit card debt have to be repaid after the death of the cardholder?

the estate (what happens to the assets and debts of the deceased) is responsible for the payment of debts and distribution of assets.

A creditor can file a claim against the estate requesting repayment, if after the claim period passes there are sufficient assets in the estate (cash or property sold to convert to cash), the creditors will be paid.

If there is more money that creditors, all the creditors are paid in full and what is left over gets paid out to the heirs as stipulated in the will or if there is no will in accordance with the laws of the state.

If there is less money than debt, the creditors are arranged in order:

Priority claims (usually the mortuary)

Tax claims (yup, even death you can%26#039;t escape the tax man)

secured debt (usually the collateral is repossessed and sold making that debt unsecured)

unsecured debt (credit cards, utility bills and the like)

at that point the money is paid out, in order, until it is all gone.

Please note that unless an heir or survivor is a cosigner or coborrower on and account, in 99% of the situations they are NOT responsible for the debts of the deceased.

Does credit card debt have to be repaid after the death of the cardholder?

Yes, the cardholder%26#039;s estate will be responsible for the balance. If there is insufficient funds in the cardholder%26#039;s estate, then tough luck for the credit card company.

Does credit card debt have to be repaid after the death of the cardholder?

When my mother passed away her estate was indebted by one of her credit cards the other card never contacted the estate so therefore wasn%26#039;t paid ...so yes they can still make you pay in some instances

Does credit card debt have to be repaid after the death of the cardholder?

Absolutely it does. Sometimes the cardholder will have life insurance on the card but if not estate will be responsible for the debt.

Does credit card debt have to be repaid after the death of the cardholder?

Yes. The executor of the estate is responsible for paying any outstanding debts.

TX Mom

My credit card debt was sold to creditors, should they file arbitration based on these facts?

The balance owed is $1248.66

I am trying to tell them every 2 weeks for the next month I%26#039;ll pay them $312.17

They are demanding I pay $416.22 A MONTH- which makes no sense since I%26#039;m trying to pay them more ($312.17 every 2 weeks is $624.34 a month)

I just got paid this week and am trying to pay them $312.17, but they are demanding I pay the $416.22 since it%26#039;s the end of the month- DESPITE the fact next month they will get $624.34!

Using their %26#039;intimidation tactics%26#039; they are telling me they MAY file arbitration against me despite the fact I%26#039;m paying them- granted I am NEVER GOING TO GIVE THEM MY CHECKING ACCOUNT NUMBER. I am using fedex to send them a money order for the amount which will get to them on the exact day I said I would make my first payment (Tomorrow).

Is this fair? Am I wrong? Are they wrong? Ah-

My credit card debt was sold to creditors, should they file arbitration based on these facts?

it sounds like a scare tactic. arbitration may be too costly for the amount you owe them unless they add that to the amount you owe. your best is to settle with them for $1000 if you have that money now %26amp; state that you want it reflected on your credit report as paid in full.

My credit card debt was sold to creditors, should they file arbitration based on these facts?

They will intimidate you to no end. Just send them something and they can%26#039;t do s**t

My credit card debt was sold to creditors, should they file arbitration based on these facts?

I do not understand your way of thinking. You don%26#039;t get to decide anything. Why pay them $312.17 every two weeks when they are asking you to pay $416.22 a month?

They DO NOT WANT your money every two weeks, so instead of headbutting them just give them their $416.22 a month, which works better for you as well????

Old credit card debt?

I had an old account with Providian Bank. It did go to collections. I paid this off in 2000or 2001. I started getting notices from collection company%26#039;s about a year ago. Every time I ask for a validation they pass it on to someone else. The company that has it now sent me what they call a validation. It was only a small portion of what I ask for. They say I never paid it off, and want me to pay it in full, what should I do. I live in KY and believe this is past the statute of limitations. On the valication it says that Providian sold it in 2003 but It was either 2000 or 2001 when this was paid.

Old credit card debt?

You need to request a debt validation in writting. not on the phone. they have a limited number of days to answer you. If they keep harrassing you you can file a claim with you atty general. go to www.advicontime.com they have a strong letter for Debt Validation and if they dont respond or get all the items you need take the letter you sent and file a complaint with the FTC, your ATTY gen, it wont cost you anything.

Old credit card debt?

if this shows up on your credit report than disput it and if they can%26#039;t prove to the credit buearu that you still owe them the money then they will have to have it removed, do you have any record of paying it? Call Providian and ask them for valiadation and if they can %26#039;t give it then you have case againist them! Best of Luck!

I have become $43,000 in credit card debt. Is there a debt relief company?

Two of my cards I am late on. Interest rates have become so high I can%26#039;t afford the finance charges.

Is there a company out there that can help me combine these cards and reduce the amount I owe without any gimics.

I have become $43,000 in credit card debt. Is there a debt relief company?

yes 310-debt is a phone number to call if you live in canada

I have become $43,000 in credit card debt. Is there a debt relief company?

Do NOT use a credit card debt relief company to help resolve your issues. Here is how I got myself out of credit card debt!

1. cut up all of the cards except for one. Immediately. The one that you keep, put it in a safe deposit box at the bank and only use it for TRUE emergencies.

2. Do not ignore the fact you are late. Write each one of your debtors and tell them that you are in a financial bind and offer to %26quot;settle%26quot; your credit card debt for a specific amount. Offer to make payments that you can afford..even if it means sending each debtor just $20 a month. It shows you are making the effort to pay and even if they take you to court, it will show the judge you are making the effort. They can%26#039;t kill you...so, you have the advantage!

3. Your home is protected from all debt collectors. So as long as you make your home payments, you%26#039;ll have a roof over your head. Write out a budget and ensure you stick to it!

4. DO NOT BUY ANYTHING THAT YOU CAN%26#039;T GET WITH CASH! If you can%26#039;t pay cash for it, you don%26#039;t need it!

5. debt relief companies will keep you in debt! Trust me! They won%26#039;t help you. You have the power, within yourself to get yourself out of the mess you got yourself into! Believe in yourself and everything will work out!

I have become $43,000 in credit card debt. Is there a debt relief company?

go to daveramsey.com and you will be amazed he helped my parent pay off 25,000 dollars in debt and he teaches you about how bad credit cards are and that debet cards are safe

its a great place to go when you need money in your pocket and less debt but it dosnt happen over night you have to be patient and it may take a year but its worth it!!!

I have become $43,000 in credit card debt. Is there a debt relief company?

I would not recomend a debt relief program.

go to

www.daveramsey.com

He%26#039;s really good at thing like these

I have become $43,000 in credit card debt. Is there a debt relief company?

You can use many online resources such as http://www.mm-review.com/money/2.html. They have great help. Check them out. There isnt a reason to use a debt relief company. Best of luck!

I have become $43,000 in credit card debt. Is there a debt relief company?

If you are caught in the credit card debt trap, approach a debt consolidation company for help, instead of paying high rate of interest to your card issuer. Most of the debt consolidation companies provide loans to help you tide over the credit card debts. These loans are known as credit card debt consolidation loan. The advantage of this loan is that you are charged a low rate of interest. The difference between the interest charged on the credit card and the interest on the credit card debt consolidation loan is substantial, saving you quite a big sum of money.

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

well if you consolidate your loan you would be refinancing the loan, you would be set up tp payoff the loan in 10 or more years and it would be like taking out a new loan. loan negotiation would be just to set up an amount to pay each month until the loan is completely paid, but it would be only if you wanted to increase the payments not to increase the time frame to pay it.

if you consolidate you have more time to payoff the loan, but you will also be paying more on interest.

if you negotiate you loan you will have higher monthly payments but you will payoff the loan faster.

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

I work for a credit card company and is allways best to go for the debt consolidation program,if u do negotiation u be getting ur self in more debt

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

It%26#039;s like asking what%26#039;s better : an apple or an orange?

Debt consolidation means you%26#039;ll pay back all your debts. You need some asset (usually a house) against which to borrow the money which will then be applied to the individual card debt. You then make one monthly payment. This is generally the best solution as it lowers the interest rate and it%26#039;s easy to budget around. However, it runs the risk that you%26#039;ll run those credit cards back up and now you have twice the debt (the consolidation loan plus the new credit card charges.) And you obviously need some sizeable asset against which to get the debt consolidation loan. That asset will now have a lien against it.

Debt Negotiation can lower your overall debt load and it can lower your monthly payments. However, it leaves a black mark on your credit history almost as if you%26#039;d filed bankruptcy. In my opinion, anyone considering this should seriously consider biting the bullet and filing bankruptcy as the court is then effectively your %26quot;debt negotiator%26quot; but they are more fair towards you, have no self-interest and a LOT more power than a debt negotiator.

Jeff

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

call each one up and make a payment plan or settle for less

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

Credit card debt consolidation adds up all your unpaid balances and converts them into a single payment. This payment is far lesser than each of the individual payments. When you finalize a plan with a debt consolidation company, the company repays your dues to your creditors. Then you make a single payment to the consolidation company every month. Your average new interest rate is much below the old interest rate.

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can%26#039;t be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt.

Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder.

A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn%26#039;t undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder.

When a person approaches a credit counseling agency, the first thing it will do is to take stock of the situation and get various facts about the credit card debt. The credit counseling agency collects data about the income, expenditure and spending habits. It will guide the credit card holder about budgeting benefits and try to inculcate good financial habits. Read more from: http://www.credit-card-gallery.com/artic...

I have alot of credit card debt. What is better debt consolidation or debt negotiation?

There is a great place to go with this. I was in a very similar situation.

This is getting help from real people without the use of banks or credit card companies. Good Luck!

http://www.prosper.com/join/lzc5wh