 I owe money to banks and credit card company. What should I do? |
I estimated my debt to $3,000.. I wanna pay em off little by little.. What should I do? Do you guys recommend Consolidating Companies? If yes can you recommend companies..
I feel that my ... |
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 Credit card problems? |
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 I need to borrow 4500.00 pounds. i will pay back 6000.00 over five years at 100.00 a month. can anyone help?? |
Additional Details
I mean does anyone know of people who can help me? and do you not think i have tried my bank???? really bad credit rating.... |
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 The cash machine has just swallowed my debit card even though I paid in £5500 7 days ago.? |
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| There seems to be a negative label placed on debt. But, I think we are always going to be in debt. Buying a house, buying a car, school loans...Doesn't having debt show that you have credit? T... |
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Party Girl | Can I force my credit card holder to lower my interest rate by refusing to make any more payments? |
my rate is 34% I've paid for a year solid and it's still over the limit.
Additional Details
I haven't used this card in over 2 years. The company just randomly raised the limit and I've been trying to get it under control ever since then. It's ridiculous, since they did that I haven't had but one credit card offer and it was for $200. I accepted that one and transferred off $200 of the $3000 that I owe, but that was just a drop in the bucket. I haven't had another offer since. I've always made my payments, but it's going nowhere fast. |
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Elley
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All that is going to do is raise it even higher then they add on the late payment fee's. The best way to do it is call them. Tell them you are in over your head. See if you can set up a payment arrangement with them with a lower interest rate. You may have to pay a little more every month but they may eliminate your over limit fee's. Ignoring the problem will not make it go away |
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Kat H
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Nope. All that'll do is ruin your credit report more. You might be able to make a deal with them if you call them. Tell them you want to cancel it and pay it off and see if there's any way you can lower the interest rate. You have to pay more than the monthly minimum. Check and see what the finance charges are each month. Say your minimum is $10. Your finance charges are $30. Well then your amount will go up $20 a month. If you pay $40 a month your balance will start to go down. Every month they tack on over limit fees too. |
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darkenedangel_420
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hahaha I wish it worked like that but no...it will just lower your credit score. |
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aaron S
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Na i wish it will just lower ur credit ratings lol |
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stevexnelson
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This won't work. If you do not make your payments the interest rate will probably go up even more.
Good luck. |
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Shane F
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Oh my god, what a rip off! I have never see your rate is so high in my life! The best thing to do is transfer to other credit card that have low apr. Check it out at www.creditcards.com it will help you find a good one. If you didnt get approve then use your tax refund to pay this off and never carry the balance on your high interest card again. Good Luck! |
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Beans
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that is completely unreasonable! it will be very hard to make headway at that rate. consult a third party credit consolidation place. you can research them online to see if they're hokey or not. there's a federal accreditation or something they can get so you know it's a good place. something like consumer credit counseling service is national, i think. & you can find a local office. they can put all your credit cards together into a lump sum & talk to all the credit companies. you'll have to stop using those cards, but you can get rates completely cancelled like, 0% or even just 3-5%. then you pay the counseling company & they pay your credit companies. & depending on how much you owe & how big of payments you want to make, you can have them paid off in a couple years! |
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Fernando G
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Everyone here have answer your question already, I just want to add;
If you have a long history with the Credit card holder, have made many purchases and paid at least your minimum payment on time; they will work with you to reduce it.
Transfer at least 65% of the balance to another card. (why 65%? you may ask) well, other credit cards like to see a balance on an open account. (never close a credit card, just don't use it, if interest is too high. a close account hurts your credit even further, a long period account (even unused) is a good history. |
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Craig T
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Still over limit? I am surprised the card is still even open.
As long as you are over limit, you are going to incur an over limit fee every month(which is often $30-40), factor in the 34% interest and its pretty hard to make any progress on lowering the card balance. You need to scrape together enough money to get the balance under the credit limit, don't use the card for any new charges and pay more than the minimum for at least 6 months THEN you may have a chance at getting your interest lowered. |
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AG
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Don't know which country you are in? But you are better to plead poverty and be nice if you cannot pay the full amount. If you feel you are being ripped off you should look out for a consumer watchdog link for your country, maybe able to transfer balance to another credit agreement.
I feel for you, 34% is a rip off...good luck |
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wildbirdie
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NO. You will get yourself sued and have to pay additional court, lawyer and collection expenses. In addition, this will hurt your credit and set you up for higher rates from everybody else in the future. You need to pay more than the minimum each month. |
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Robert M
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No |
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The Baking Kitten
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I wouldn't do that, you'll probably end up screwing yourself over with bad credit. Why not transfer your balance to a new credit card with a lower APR? |
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Radio
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I always recommend Pulaski National Bank Visa as they have a Visa card at 8%. I think the link is pulaskinationalbank.net or google it. Good luck to you. Also, please read a book called The Richest Man in Babylon by George Clason.
:) |
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sdjfs k
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visit this website http://creditcardpay.blogspot.com |
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