 Hey, what are your legal obligations to pay back debt that is over 10 years old and has been sold off.....? |
| to a collection agency, its not that much, and I was young and forgot about the whole thing. Now I have these vultures calling me at all hours and making me crazy they are rude so Im rude back- ... |
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 Is it legal for stores to refuse my credit/debit if I do not have my id? |
My credit card is signed with my name and DOES NOT say See I.D. on the back.
Additional Details
I am NOT asking what you think....Or if you think it is right or not... but the proper ... |
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 I'm in college, 21 and I was extremely stupid and now I have 6, 531 in credit card debt!? |
| I don't want to tell my parents and I am trying to figure out the best way to pay off this debt. Should I close the account? Will that hurt my credit score even more? What does my credit score ... |
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| I need a private loan .. Give me some ideas if you have any ..... |
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| i have received a visa card but the pin number has not arrived yet.can i still use the card in a chip and pin outlet with just my signature and some i.d?... |
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| is that true that it could affect my credit history? Is cancelling generally bad idea?... |
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| My Credit is Really Bad and I owe 50,000 in Student Loans!!? |
If I start paying for my student loans will that improve my credit?
My credit score is around 512 for past mistakes--what can I do to get out of this hole? SHould I leave the country and ... |
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| Can credit card companys do anything like take our home or vehicles, etc. we have our home paid for, and our cars, and we have one debit card we keep up, but just started working again and can not ... |
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| I'm going to ask her to put me on them to improve my credit score. How does this work?... |
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 Getting a credit card without any credit? |
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 Could someone lend me 1600$? |
| i want to start internet bussines and its impossible to take a credit in a bank in belarus. so i asked the world for the help. i do belive that there is more good people then the other ones. thank ... |
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Miaj | How much debt do people run up on average?? |
besides my mortgage(s) i have £20k! i am so depressed about it!! do other people have this much on average? |
 |
 
son-shine
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There are people who follow Dave Ramsey's program and get completely out of debt. Do not go through debt relief or consolidation companies. Here is some advice to do this on your own.
First thing of course would be to cut up the credit cards and make a commitment to never charge again. Then follow the following plan.
Make a list all your debts by amount you owe from smallest to largest. Then begin by paying the "most" amount you can each month to the smallest debt with the idea of paying it off quick. Then, only pay the minimum payment on the larger debts. Continue doing this every month until you have the smallest one paid off. Everytime you pay off a debt, call the company and tell them to close the account ... that you paid off the debt and that you do not want to leave the account open. They will try to talk you into leaving the account open. Don't do this as it is too convenient and you will be tempted and will sink into debt again. You then start paying the most you can on the next smallest debt in line and go on from there until you have each paid off. Every time you get any extra money, whether it be $5, $10 or more, apply it against your debt even if you have already sent in a payment. You can send in payments more than once a month. Don't go out to eat. It's "beans and rice, rice and beans" as Dave Ramsey always says which just means (cheap meals that you can fix at home). LOL Also do things to make money like garage sales, sell on eBay, get a second job, anything to help you get money to apply toward that debt. It's not about obtaining the best credit score, it's about eliminating the debt.
You can get more help on how to accomplish this by reading and listening to Dave Ramsey. He has a talk show which you can hear on line, through his archives, or live on line or by radio by entering your zip code and find out what time of day his show airs. Plus there is a lot of reading material on his site to get you started. In addition, he has forums from his site to get help and advice from other people who are in debt. Dave has been there (with debt) and knows what it is like and is now helping people to get out of it. There are people that have followed this method with $100,000 or more in debt and have gotten it paid off without going through bankruptcy and without getting some debt help company to do it for them. Dave's website link is below.
I hope this information helps you and you get the relief you need. I would give you my book but I already gave it away to someone else in debt. Best of wishes to you. Keep your chin up, you can do it!
http://www.daveramsey.com |
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kitten
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apart from the morgage, i have no debt |
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alatoruk
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a loaded question. because 50% of people are below average.
typical debts range so wildly this is not a fair question, perhaps it should be defined within an income bracket.
6 months ago i had none - now ive got £2,000 but i will clear it and get it back to none again because i have been there, ive had the sleepless nights. When my company collapsed I had £156,000 owed, with about £400 equity in the house.
if you are worried about your debt, but not your mortgage and you have equity in the house, re-mortgage and pay off some debts. I would only do this once though. we have 2 women at work who bought their houses at the same time. 1 of them has paid off her mortgage and now owns her house, the other has re-mortgaged or taken out secured loans every couple of years, she sees it almost as her "right". she currently owes over £100K and cant stop work even though she would like to for health reasons. |
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syelark
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900 quid to credit card, 450 in debt on current account, 7 grand student loans, and alot of pettie cash to friends. We bpth got it bad! |
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jessie
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yep i did have 23K but ive gotta tread carefully to clear this, ive got 5 years left on my loan. Ive also got a mortgage. its not all doom and gloom, i just live off bread and water IoI
Ps.
I have 3 kids to bring up and I never had debt before I had kids. Kids need clothes and shoes I cant say wait till I can afford it! |
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thebarkingspider
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Aside from our mortgage, my girlfriend and I don't have any debts.
We don't see the need for credit cards and we live within our means. If we want something like a TV we either save, wait until the price comes down or get a discontinued model.
Also, and probably more importantly, we look after the things we have.
Like Frank H intermates, it's about lifestyle choices. Take a very close look at your finances.
It's an unfortunate fact that once you start getting into debt, banks and credit companies will start calmouring to offer you more and more credit and more and more 'ways out' - balance transfers, special offers, etc - why ? because the longer they keep you owing, the more they get back in the long run!! People would rather struggle and struggle than admit bankruptcy. |
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wrtrchk
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You are not alone. It is easy to crawl into debt when it comes to college loans. |
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lulu
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Try to detach your emotions with the debt, truth is whether you feel depressed or happy, you still have a debt to pay. I have huge debts but Pay what I can and reshuffle what is available. Over thinking will only make you ill and its not worth it. moneysavingexpert.com has good tips. The other thing I've done is write down your expenditure, you might find that some things you buy are not necessary and if you cut down you will be able to pay more on your debts. I owe 26k I don't earn much but I won't loose my sleep over money. |
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Nottingham man
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I have about £4k, uni happened to me, so that was enough for them. Plus they are bad debts (not that debt is ever good), so its a black mark for me and no mortgage for about 5 more years |
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D
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I personally have just under £4000 debt (besides mortgage).
UK average (the link below) says is £8577 but im sure i saw a program on tv that said out individual debt was nearer the £28000 mark (not includeing mortgage but that article it includes mortgage). If your depressed about it your should look into trying to clear some. Clear the higher interest ones first and maybe consolodate some debt.
http://www.fool.co.uk/ Good site for tips and a comparison site on credit cards loans etc. |
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Nick Nick
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More. I was recently in touch with debt consolidaters. They told me my debt was 'nothing' compared to many other folks. |
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Big Bear
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They say the current average debt in the U.S. is $10,000, in those with a $50,000 or below income. |
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Missouri LitWit
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I identify with you. I live in America and I never had debt until I met my husband. I was a student who went to school on scholarship, so I have no student loans. My husband, shall we say, didn't pay attention to the fact that he had financial responsibilities until he met me. Let's just say that he had a pretty hefty hospital bill sent to collections last year, around $10,000. We had to take out a loan on this and we've subsequently run up another $5,000 in debt setting up our life since our marriage. At 22 yrs old this doesn't make me too happy, but I do what I have to do. We are wanting to get a house when our lease is up next year, but it all hinges on whether or not we can get these debts whittled down. We take it one month at a time, paying as much as we can until one card is gone. Then we get rid of it, never to see it again! It's not as if we can't control our spending. The things we bought were necessary purchases, but they add up over time. Best of luck to you and don't get down. Realize that debt is only a number attached to your identity. If you are smart about it you can tackle it without too much headache. Pay bills on time and pay as much as possible each month you can. Stay positive. |
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stalefish_22uk
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Wow my twin! i read somewhere that in the south east of England the average annual income is around the 25,000 gross and that average amount of debt (excluding mortgage) is around the 20,000 mark so don't be too down on yourself, but i would get that into check at some point soon and don't ever borrow to pay off debts, just try not to spend as much and 'downsize' as much as you can. At the end of the day, if you're that miserable about your debts that the things you're buying obviously aren't worth it are they? |
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katehughes2706
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I am £25k in debt currently.
I cant see myself ever getting debt-free, and it really gets me down sometimes. |
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peggy*moo
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My only debt is my mortgage, but it is pretty stressful as it is quite large. |
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kj
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its soo easy to get into debt and quite scary the amount companies will lend they recon on average its about £15 i think. i have only £1kwhich is the remainder of my car loan my mortgage is quite big thou so i wouldn't take on any more debt |
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free_your_fancy
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Not sure about where you live, but the average debt in America climbs higher each year and it's sad. People use credit cards as though they have "free" money to use. They rarely realize that the 50 dollar sweater they bought on credit last month is going to be the most expensive sweater they ever bought if they don't keep their card paid in full each month.
A mortgage is a normal, acceptable debt. It's an investment and a secure loan. What you should be concerned with are your unsecured debts (such as credit cards and revolving credit).
If I convert pounds to dollars, that's pretty high. Have you considered credit counseling? Or even better -- refinance your mortgage so that all of your debt becomes secured debt at the usually much lower mortgage interest rate. Then CUT UP YOUR CREDIT CARDS.
People who cannot control their spending and who cannot pay off their debts have no business owning credit cards. |
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Frank
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It really depends on people's income level. I have about $3K in debt with about $150K/yr income. So it doesn't bother me.
If you're drowing and struggling to make ends meet, you might have to come up with some lifestyle changes. |
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Steve R
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Shoot for less than 15% of your net (not gross) income. |
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scallywag
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Not me. Try getting rid of them - you're lining up the banks' pockets for doing not very much - effectively free money for them. |
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jo
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Tell me about it.Im about 15k in debt im 22 and only earn 12k a year.i hate it but i just cant stop spending x |
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