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I have a 560 something and is fair.
I hate buying things on credit so I always buy everything in cash.
Additional Details
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 How long does it take to raise a credit score? |
| I just got my credit reports from two of the credit agencies. My score was 550 on one and 625 on the other. I've started to talk to a few collection agencies and have sent payments in full to a ... |
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drgreenbean | How do i get my credit card company to cancel my debt? |
i owe $16000 on my 4 credit cards all with chase and cant even make my minimum payment on any card. i lost my job and my wife is 2 months pregnant and i need help. i called a credit consolidation place, but they just want to add more and more fees. please help me i need real advise. thank you and god bless |
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Jim Maryland
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Bankruptcy if you are looking to cancel debt. You must be careful though in how you do this (i.e. don't rack up unusual debt right before declaring). Talk with a lawyer that specializes in filing bankruptcy to ensure you do it properly. You will thoroughly ruin your credit for many years to come but you will also need to watch for new credit offers too. Once you file, you can't immediately file again so the credit offers know this and will look to take advantage of the situation.
If you are really looking to pay off your debt though, I recommend Consumer Credit Counseling Service (no charge to you) to assist with setting up a repayment program based on your income and ability to repay. Some credit card companies will work with CCCS and reduce the rate and/or payment amounts. You may also be able to do this with utility companies too through CCCS. Other companies like student loans or mortgage companies may be less cooperative but it never hurts to try.
Personally I recommend the CCCS route over bankruptcy. My wife and I were in a tight spot when I first got out of college and ran up a pretty good chunk of debt. Through CCCS and careful budgeting we were able to repay everything within approximately 5 years. While we had some negative marks on our credit report, we were able to still get a decent interest rate when we purchased a car at a later date by showing that we did go through a repayment program rather than filing bankruptcy.
Good luck with your choice. |
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Christina K
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Do you have payment protection on any of your cards? If you do, you may be able to freeze your accounts and what is due on them due to your job loss. Almost every car offers it and usually charge .75 cents to .89 cents per $100 dollars of credit you have. It may be the best route.
Aside from that, no debt is ever really canceled w/o declaring bankruptcy. Even that may not be 100% true with the revised guidelines. There is no harm is asking for a lower interest rate, a different due date or ask them for a consolidation loan. If you have a credit counseling program associated with any of your cards, like Credit Inform, you can seek their advice as well.
Good luck! |
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bdancer222
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The credit card companies are not going to cancel your debt. They are not interested in your problems. They just want their money. You will be hounded with collection calls.
All that is pretty harsh. But the reality is that you ran up those credit cards by living beyond your means. Your only option is to get another job. Get two jobs -- they're always looking for pizza delivery guys, flexible hours and you get tips. |
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yellow_tofu
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declare bankruptcy...it will totally ruin your credit, so u will not be able to get a car loan, home loan, or any more credit cards. but u will not have to pay the money back. look up on line if you qualify. there are 2 different type.
ps you shouldnt have kids if you cant even afford to support yourself it's not far to your kids and its not fair to society thats going to be supporting your kids. |
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kcphillips0925
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you need to call Chase immediately and talk with someone there. They will be willing to help you work out a payment schedule. They will not just cancel your debt. You will need to pay it. After all if you hadn't used the cards you then wouldn't have the debt. There are also so many job opportunities available you should be able to be working "at something" even if it is a retail store or restaurant. With a baby on the way you need to think of having any legit source of income. Does your wife work? Barring any complications she should be able to work right up to a few weeks prior to the birth. Don't wait until you are extremely late on your payments. Call Chase today to talk to someone. They would rather work at a resolution with you than have you be delinquent. Good Luck. |
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yeahyeahyeah
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The only way to do this is to file bankruptcy. This is probably your best option at this point. Good luck to you and your family and congratulations on the pregnancy. I hope that you are able to find employment again very soon.
:o) |
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Heatherrrrrrrr
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You need to consider your credit very carefully. You are about to have a baby and need all the money you can get. If you do not intend to pay your debt ever than tell the banks that. They will "charge off" the debt and report it to all of your credit bureaus as unpaid debt. This will effect you for 7 to 10 years. Getting a car, house, future cards, etc.
Credit Counseling companies usually show up on your credit bureau as poorly as filing for bankruptcy. Also on your reports for 7 to 10 years.
Try working out a payment plan with the companies. Close the accounts. Charge nothing new and just keep paying. |
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Mrs. M
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this will go into collection. you need to figure out how to pay this. |
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me and you today
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Write them a letter.
No point doing cancellations over the phone - could be a crook on the receiving end!
WHEN IT GOES WRONG:
IF they try to get out of it in any way using excuses to keep you as a customer then get an ombudsman -write to them explaninig all the issues:
USA: http://www.boiseombudsman.org/
ADVICE
Avoid using credit altogether!
Use cash more when and where you can.
http://youmoneymaker.blogspot.com/ |
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A P
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Find out who the main person in charge is and address the letter to them explaining your situation. They may be able to set up a payment plan with you by lowering the total amount and maybe the min. as well.
Check out this website, it gives you tons and tons of free advice and how to go about it. Helped me get my credit into tip top shape a few years back. |
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