 Do YOU really care about this so called 'financial crisis'? |
| Lets face it, who is really bothered about all this world crisis? (over money?) It wasn't our fault and what exactly is the government 'rescuing?'... |
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 Credit Cards?? |
| how can i build credit when no one will give me a credit card? I am 21 years old and i was wanting to get a credit card...PROBLEM...i have bad credit from things that i didnt know caused you to have ... |
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 I have been getting offers from a company that offers to take over my debt? |
And they tell me I only have to pay 50% of the original debt The debt is over 7 years old. Should I go for it or just ignore it?
Additional Details
I need to add something---- They are ... |
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 How unusual is it for someone NOT to own a? |
credit card in this day and age? People look at us like we have lobsters crawling out of our ears when we tell them we've never owned a credit card.
Additional Details
**edit** We ... |
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 Should I refinance or file for bankruptcy? |
| My credit is poor so, if I refinance I will be paying a very high interest rate but, if my credit is already bad anyway should I just file for bankruptcy?... |
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 I just turned 18, what is the best way for me to get a credit card? |
| I want one that I can use anywhere, not just a store credit card.... |
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 My 12 year old son wants a kids credit card any good places you can recomend? |
| He wants a proper card that he can use and not a pass book, he wants a good interest rate if thats possible.... |
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 Do you have to deal with collection firms who "purchased" the debt, or can you work with the original banks |
| I am 22 with about $2200 in credit card debt with no real secure source of good income. I just barely get by without having to pay this bill, but I think I could afford to make low monthly payments. I... |
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 I have really bad credit and I need to get a car. Is there anyway I can finance a car with horrible credit? |
| I have a consumer credit counseling or something like that showing on my credit report. Help me out I need a car!... |
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 I am drowning in $20000 of credit card debts, I am making about $1,500 per month, what can I do?? |
| I have about 9 credit cards, I don't have a house or a car. I had goto many banks and they don't approve me for consolidation loans... Right now, I spent all of my salaries each and every ... |
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 Does bankruptcy destroy your credit for life? |
| With the rise in the cost of everything I'm getting close to having to claim bankruptcy. Is this going to destroy my credit for life?... |
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| Going to court over debt? |
| A friend is being sued in Texas for a debt. 2 years ago he was sued over a debt his ex defaulted on. There was a default judgement and I doubt he paid the debt. I think the new suit is an attempt to ... |
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 Should I call the Credit card company to reduce my credit limit? |
| After several years of CC debt I finally made it a point in 07' to pay them off. So I wrote a $12,584.63 check (that hurt) to Visa to clear the remaining balance. The limit on this Visa was $16... |
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 I have credit card debt from 2001 When will it fall off the credit report? |
| My husband and I live in California and back in 2001 we were in a financial crises and didnt pay 5 credit card bills. But I have several collection agencies calling and sending bills. When will it ... |
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 I need help finding a quick personal loan? |
| Can someone help me find a quick personal loan, something other than a payday loan?... |
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james j l | Is bankruptcy a good option, when you`re overextended in debt? |
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Virginia E
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I am on year 5 post bankruptcy. Yes, my credit is still bad, and I can't get approved for anything much at all without paying awful rates--but I got rid of 20k of debt that I had no hope of paying off over even 10 years, got rid of the illegal all hours phone calls to me, and my parents 45 miles away. Got rid of the feeling that I was drowning.
A few more years, before I turn 35, it will drop off my record, and I can look at a down payment on my first home.
Do it right, research the laws in your state, ensure it really is your best option. Make sure you have a plan in place to rebuild your credit after your bankruptcy is complete--it doesn't happen on its own.
Those Credit repair places you see on tv that offer to fix this for you and avoid bankruptcy--avoid them! Most are scams--you can get the same reduced payments by calling your debters and negotating---and you don't pay a third party a cut as well. If the third party pays late--and they do--its still your fault and your extended fees.
Good luck. |
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?
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no stop spending and pay your bills. |
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Studly
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It's a great idea! People like Michelle don't mind paying extra on their bills to pay for all the bad accounts. The credit card companies are making BILLIONS in record profits every year due to Michelle's generosity. Way to go!
Actually, bankruptcy is the last resort. You first need to examine your budget and spending habits, possibly find more income (2nd job?)...and possibly try to negotiate a settlement.
Getting consolidation loans may help, as long as you understand the dangers and correct your out-of-control credit spending. |
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hisnameisbrad
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if your debt is to great that you know you would never ever be able to pay it back then yes i think it would be a good option but thats only when i think its a good idea.
it will ruin your credit for a while though. but you can get your life back to normal after like 3 years. |
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Sophie's Mommy
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it will ruin your credit |
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Breezy365
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Sometimes its the only answer. If you have lost a job or have been ill and couldn't work and have lots of medical bills, sometimes there is just no other choice. If your debts and bills exceed your income, you may want to look in to it but you can also check out consumer credit counseling, the non-profit one who helps you lower your monthly unsecured payments. |
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Carson
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Yes. If it makes sense do it. Your credit will recover in the first two years or so. I know of lenders who will give you a mortgage loan only one day out of bankruptcy. It's better than continuing to pay your bills late, which will only lower your score. With a BK at least you can start over and not make the same mistakes you made before. |
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Angie
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Bankruptcy is always the avenue of last resort. Try to seek the help of a reputable debt consolidation expert to get your finances under control. |
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Michelle
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No, because for every person that goes into bankruptcy, those of us that are doing well with our finances end up paying for it in the long run. You need to either stop spending or go to a CCC (consumer credit counseling) and get yourself set up with them and pay off your debt and learn a lesson at the same time. Most of us at one time or another get ourselves into a jam with money, but the majority of us would never actually claim bankruptcy. It also ruins your credit - you can't buy a car or house at a good interest rate (and depending on your credit, you might not be able to do either). If you are looking for a better job down the line, this can actually ruin your chances now as employers look at your credit history. They don't want to hire someone that can't manage their money or be at risk to possibly "steal" from the company if they get desperate to pay off their debt. Also, if you aren't married and want to get married in the future, hopefully your future life partner would inquire about your credit history too and hold off marrying you until they are sure you won't do this again (because you can bring them down if you do this again). |
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