 I want to improve my credit but all my debt is at least 3 years old and all in collections. What to do? |
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| I just turned 18 last week. I have been driving a 1988 Ford Escort for a year and a half. I paid $500 for this car so I am not sure if it is even applicaple for a trade in. I think it is time to ... |
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| so i'm having a little trouble making the minimum payments right now. In about 2 months, i know i'll be able to make them. But what concerns me is how the credit card companies keep calling ... |
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| A friend of mine was made bankrupt a few years ago, but has been discharged for about 18 months or so. So he can try and build his credit up, which credit card companies would allow him to obtain a ... |
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| i work for a place that distributes loans. i got the job through an agency and was told itd be basic admin work. now they are trying to get us to take applications for loans and take money from ... |
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| I am interested in obtaining a loan to pay off debt that I find myself sinking into. The problem is, I have horrible credit. I dont want it to get worse. I have a great job but I was recently hit ... |
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Additional Details
i pay my bill,more than the minimum, i make random payments.but i was just wondering how will it effect my ... |
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 Credit card debt! please advice.....? |
| So basically I have 2 maxed out credit cards. One of 2,000 and the other 500. I'm a really broke college student. The little money I make I need it for food, shelter, supplies etc. That's ... |
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| My husband and I have really bad credit. We both were in previous marriages and that is were it all started. He has a foreclosure on his credit report because his ex decided she wanted to keep the ... |
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Rican Princess | How do you manage your credit cards? |
Just wondering how some people handle there high credit cards amount in order to lower them w/out consolidating! I only have one credit card and the dollar amount really isn't that high it's the dang interest rate that is super high like 22%. So it seems like I'm not even putting a dent in it when I make my payments. And yes I am only giving minimum but I am looking for some advise on how to lower it w/out consolidating! And no I am not putting extra charges on it, I know of course that would play a great role of why it is not going down.
Peace and Blessings |
 |
 
Ted
 |
You need to analyze your spending.
Step 1: Cut to the bare minimum and put the savings toward the debt. It will be hard to change your life, but you'll be glad you did once you get rid of the debt. I just shake my head at people I overheard in Starbuck's talking about their debt problem. A Starbuck's on the way to work everyday is $400 a month! I buy Starbucks beans and make it at home and carry a Starbucks thermos cup. It's little stuff like that kill most people.
Step 2: When out of debt, adopt a lifestyle that's a little less than you can afford. |
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Tarshay <BAGEL>
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Sometimes you will just have to bite the bullet like i did. When I got paid last week, I went a haed and payed them $322 just to get that balance low. I don't have a whole lot of money, but i don't owe much either cause I charge almost everything to my card and try to pay down as much as I can every month. Its not easy all the time, but your CREDIT SCORE will thank you!!! :) |
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airbob61@verizon.net
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Credit card companies thrive on people such as you. The secret is to reduce the principal to zero and thereafter maintain a zero balance or do without. |
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src50
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The ONLY way to get out of it is to make payments that are several times the monthly minimum. It's just basic math. |
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SUSI
 |
It is advisable to make total amount due before the due date of payment and not the 'minimum' amount due which is very often highlighted by the credit card issuers. If you start making only the minimum amount due, then you will be put into debt every month by means of heavy interest on the outstanding balances as well as fresh spendings made on the cards. |
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Mo
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If your balance is higher than 2000.00, try and pay 200.00 a month until the balance is below one thousand because anything below that payment will be back on your card balance the next month. I wish our laws would regulate these rip off shysters. They are out of control and deceptive. I look at all my credit balances at the end of the year. If my payments impair me at all.I apply for a lower interest loan to consolidate and pay that loan off with double payments. That will save you thousands in interest. |
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dewkisses02
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Pay more than the minimum. Pay as much as you can to lower the principal amount. |
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$m¤¤v¥ £¤¢¤
 |
I definitely feel you on the interest. One thing that you should do is keep your balance at or below 30% of your credit line. Another thing, pay MORE than your minimum payment. It not only helps your score because scoring system recognizes the overpayment, but it helps because by only paying the minimum, you're barely covering the interest. And while 22% is giraffe-high, please belive that there's even higher rates like 29-32%! It's good that you're not using it, but you should start making a plan on how to getting that balance down or even better, paid off.
Here's a tool to help you with your bills to help you calculate your debt, and help you figure how to create extra payments. It's called powerpay:
https://powerpay.org/index.php?state=IL
this helped me out a LOT, to where I'm debt free except, my monthly expenses, and I'm confident that it will help you!
Good luck! |
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SloMotion Like Snail
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definitely pay more than the minimum. itll take you like 5 years to pay it off like that!
put as MUCH AS YOU CAN....
im not one to talk because i have 2 maxed out credit cards, but i know the only way to get out is to pay more than the minimum payment due. |
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D C
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get another credit card with low introductory rates then pay the first one off they usually give you a low rate for 6 months and then by that time make sure you pay it off |
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