 Can a creditor call my employer to collect a debt? |
| I recently had a creditor, (General revenue corporation) Call my work to find me, Is this legal?, it really burns me that they would bother me at work to collect a debt. Can I do anything to stop ... |
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 How many people are in serious debt? |
| Just wondered, with all the adverts on the telly for loans, it really seems like a very serious problem!... |
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 Why worry about your credit score? |
The only legitimate thing to borrow money for is a house. Otherwise, you shouldn't buy things if you can't afford them.
Additional Details
You don't need a credit card. U... |
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 How do u get bad credit? |
| i have gottten negative on my debit card... does that mean that ima have bad credit?... |
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 Need to build my credit score?? |
| I want to get a credit card to build my credit, but no one will give me one because i have little or no credit history, and i dont have the money to put down as a deposit. What credit card company ... |
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 Why am I so poor and have no money? |
| I'm 21 year old guy from canada, I failed college 3 times and is now in $25000 student loan debt without a degree. lived off credit cards for a year while I had no job, and got in $14000 credit ... |
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 I got a letter for an outstanding balance of £2.900, Credit card from years ago.? |
| It was nearly 10years ago i ran up £1000 on a barclaycard and never repayed it and soon moved house. Is there anything i can do to lower the balance?... |
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 I HAVE PURCHASED A CAR THAT I DID NOT KNOW WAS ON FINANCE, NOW I HAVE A FINANCE COMPANY TRACKING ME DOWN? |
| it has gone threw several pepole but i have never signed anything now a finance company want £24.000 i only paid £7.000 threw a private ... |
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 I have awful credit and cannot afford to pay everything off. What should I focus on to better my credit? |
| I have quite a bit of old debt. A large amount is medical, but as a young adult I really messed up my credit. I have repo's, owe apartment complexes, utility companies, cell phone, and a lot of ... |
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 Am drowning in the river of debts? |
i really need help i cant seem to stop drowning
in debts and at the end of the month
i pay off debts that what i remain with
cant take throughout the next whole month so i have to
... |
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 I have received notification of a debt which i did not know existed from 11 years ago i am being threatened? |
| with legal action where do i stand. I had a violent partner who ran up alot of debt i do not know if he used my credit card. The debt is from 1996 like i said i knew nothing about this until i ... |
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 Help... my parents took away my credit card!!!!!!!!!!!!!!!!!!!!!... |
| i am 14, my parents said that i was spending to much and if i wanted it back i had to pay 50% percent of last months bill it was 3,695.23$ and that was the lowest bill ever why did they take it away ... |
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| Is this a con? |
| my husband applied 4 a loan and the broker said he had been approved for a loan and all he had 2 do was said in there fee of 39.99 pound s and then they would pass his details onto a suitable lender. ... |
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 How do I get a Personal Loan for bad credit. I've searched & searched & get turned down.? |
| I'm trying to get a personal loan for an emergency. None of my accts are past due but my credit score is low because I have too many small limit credit cards that are maxed out. I've ... |
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 Looking for a personal loan for 4,000. i have bad credit. I have steady income can anyone tell me where to go? |
| i have a title to a 2001 Hyundia Accent also for caladeral. i have steady income i just need someone to pint me in the right direction to find a place that will do a loan. Thanks for yur ... |
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 Gift cards? |
| Is there a website that allows you to see how much you have on one?... |
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gentlgodis | Can anyone give me three reasons why people should not sign up for credit cards? |
Please give only valuable and intelligent answers. |
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CowboyBill
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#1 -- they are stupid.
#2 -- they are unnecessary -- a debit card will suffice with ANY transaction that a credit card will, purchase protection and lost/stolen card inc. (read the agreement posted on the card website)
#3 -- "I'll just pay it off every month". How many hundreds of thousands of people have said this, how many really do it? A handfull. When you play with fire it burns you. The credit card industry is the nastiest bunch of morons you could EVER deal with. One late payment, your 12% interst rate leaps to 26%, then you get a $30.00 late fee. Two months later, after the higher interest rate takes hold, you are late again, then you discover you are over limit -- a $50.00 fee on top of a $30.00 fee on top of a payment. It never stops -- if you REALLY get into trouble the collectors start calling day and night. You cut a deal to get them off your back -- you give them a check over the phone. The next day you discover they emptied your account. Illegal? Sure. So? What will you tell the judge? -- you owed them the money, they took it. How will you defend yourself? In the meantime, they decided to wreck your credit report -- which makes it impossible to buy a house or premium insurance.
This happens every two minutes. Honest.
Now --- see reason #1. |
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tobeecasey
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Credit cards are good to have. However, they are bad for the following reasons:
1. high interest rates (that will kill you if you have a high balance)
2. If you have a high balance, you will owe a lot each month.
3. Tempting and easy to use amd easy to get yourself into trouble. Companies will increase your credit and it is really hard to not use it.
I would get one, but be careful. They are a blessing and a curse. |
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jodi_lynn_124
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Boy Cowboy must hurt to be as perfect as you and have so much money and knowledge. |
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Johnsmatrix
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Sure. Lots of people can. |
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RayRay
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It cost you more to buy something and paying interest rather than saving up and paying for it all at once.
It is too easy to buy something, putting it on the card, knowing the bill won’t come due for 30 days and you have that long to come up with the money.
It will teach your children more about the value of a dollar and to be accountable and responsible towards your personal finances if you work on a cash only standard.
RR |
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Julie
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There should be only one main reason why you should not sign up for a credit card.
If you do not have the money to make the payments? and making more than just the minimum payments. |
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nhan_andy
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1- If your score is below 700 . Why ? It's easy to demand your credit line or get the best interest rate.
2- If don't have a job or other sort of incomes
3- If you're irresponsible and have a bad spending habit
Here's 1 more : Never accept any card that charge you an Annual Fee , and never accept any card without 12 months 0% introductory rate. |
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Y Answerer
 |
I'll give you four.
If you can't pay your monthly credit card bill on time in full each month, don't sign up for a credit card.
If the credit card you are interested in charges annual fees, don't sign up for a credit card.
If you don't understand personal finance and debt management, if you can't handle money wisely, don't sign up for a credit card.
If your spouse falls into any of the above 3 categories, don't sign up for a credit card.
If none of the above apply, I see no reason you shouldn't apply for a credit card. |
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my1215boo
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Personal experience.....
DO NOT SIGN up for store credit cards as ....
1) The interest rate is to high and you end up paying more for the product than you purchased it for
2) Tempting to use it instead of learning to save for what you want
3) Mess up and miss a few payments and totally destroy your credit rating which you need for everything in life you want to do
There is nothing wrong with having a credit card once you have the money to pay of balances quickly. Just stay away from department store cards, or those with high interest rates and fees. |
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sexytrojan
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High interest rates, debt, and unmanageable.
Credit cards can be a nightmare if one thinks they are "free money." Buy whatever you want and pay it back for $15 a month! Not at all. The finance charges will add up to more than the minimum payment each month. As a result, assuming that only the minimum is paid, the card will reach it's limit. The balance will keep going up even if it tips the card over the balance. When that happens, the interest rate will sky rocket. BUT! One only needs to pay the $15 minimum payment! It's a mad cycle to get into.
On the other hand, if one manages credit cards well, they are great to have. You can transfer the balances from high interest cards to one with 0% interest on balance transfers. Just pay it off during the year of the promotion. For purchases, pay off the balance each month, ie don't spend what you don't have. |
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Hoa N
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1/ do not become slave to the lender, after you borrow it, yu are on the hook
2/ it is the vicious cycle, with the minimum payments, take you forever to pay it off
3/cash is king,
I used to be in debt at young age 21-25, but quickly learn may mistake and turn around. Now at the age of 32. I amassed 73000 in 401k+roth IRA, 30000 in cash account, the car paying off and I love every minutes of it. I am not brag but the feeling of living pay check to paycheck make me sick, so I learned my mistake, turn aroun quickly
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
>...http://www.streettalklive.com>... university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 73,000.00 and 30000.00 in taxble account. by follow simple rule |
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jubbablumberin
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If you dont pay it back within the time limit, they start charging high interest rates. I think its like almost 20%.
Since you dont actually hold the money in your hands, you dont really know how much your spending. You might get in the habit of impulse buying. Basically, going over the top and buying more than you can pay back.
I cannot think of another bad thing about a credit card, but as long as you know your limit, credit cards are good when you are spending a lot of money at one time. Like for a sofa or a computer. |
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Jay
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Better than reasons are personality type. Here are some personality traits that aren't good if you're thinking of getting a credit card.
1.) If you're a procrastinator, then making payments on time will be difficult. Your credit report will be littered with 15 and 30 day late payments, not a good idea.
2.) If you're thrifty, and don't plan out purchases, you might overspend, not being able to pay back what you owe. Then you're making the minimum payment every month, and a fully charged card is a red mark on your credit report.
3.) If you owe money or have no job. Credit cards are awful to use to pay off loans. You're getting an interest rate that is really high right now with the FED raising interest rates all the time. You could be paying 20-40% interest, who knows.
If you're getting a credit card to simply build credit, you can pay it off monethly if need be, and you have 1-2, then you're fine. |
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Sky
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- its very easy to get into debt then get out of it.
- if you do not pay your bills on time even once they report you to the credit bureaus and your credit score will be effected.
- they can get stolen and some credit cards have huge APR %'s and you end up paying twice as much for things. |
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mia2kl2002
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I can only give you one, and it's a big one: the interest rates. They are always higher than other ways of borrowing money, and if your payments are late, they raise them higher & higher. Pretty soon you're paying interest on top of the interest and the vast majority of USA citizens are overextended on credit cards. So it's not just something "stupid" people do, it's becoming an epidemic. |
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smrtasfrnkln_06
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because
they make money for a reason |
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Sam Sneed
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Yes, someone can give you three reasons why people should not sign up for credit cards. |
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Big Red
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1 you could spend more money than you have
2it is easily lost/ stolen
3the credit card company might sell your information |
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