 Need some advise with dealing with a debt collector? |
| A friend told me to try yahoo answers to get some advise on this. I just recently got a call from a debt collector inregards of a capital 1 bill i had in 2000, he told me i owe 9k, where it was 32... |
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 Need help getting a loan to pay off debt!!!!? |
| I am in a bind. I have poor credit and need to start fresh. I have been denied by every bank out there . I just want to get a consolidation loan and payoff all my debt and make one loan payment and ... |
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 How does a settlement payment to a debt collector affect my credit? |
| If you take the percentage payoff how does that affect your credit in the long run?... |
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 I went over my credit limit by 11 dollars? |
| My credit card limit is 300 dollars a month, and i used 280, but they charge me my annual fee, and it went over to 311, but i paid off the whole credit card, will my credit score go down?... |
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 Is this legal? |
| I had a credit card over 2 years ago. I lost my job, so I called them and made a deal (yes it was in writing) about my payments. They did not hold up their end of the deal, ended up charging off my ... |
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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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 How long does a bad credit entry stay on file if it is not paid? |
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i won't just pay it because of the principal that i do not owe it but can not get them to remove it from my file after months of arguing about it time and again.... |
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 Can a buisiness charge a fee for any credit card transaction? |
| I live in San Francisco. In my old hood the corner store charged you for credit/debit purchases under a certain amount. My new corner store charges 50cents for any and all card transactions. Is that ... |
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 I've been told I have NO credit..how do I get some??..I have owned a house so I should have credit? |
Its hard to get a loan with no credit vs. bad credit
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banks dont have to repor t credit so its not instant credit if you take out a loan and re-pay it even if its on ... |
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 Has anybody had any luck with debt consolidation through one of those companies? |
| Im about 10 grand in the hole! I have been missing payments to credit cards lately, and have medical bills that I haven't even considered paying. I just make sure I keep my rent, and my care ... |
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 Paying off credit card and overdraft debts? |
I have £3,500 on a credit card which is 16% interest rate which works out at approx £80 interest per month on top. I also have an overdraft of £600.
I have gone on to uswitch but ... |
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 When a credit says they ae going to take you to court for an 8 year debt are they lying or can they do that? |
| When a credit says they are going to take you to court for a 7 year debt are they lying or can they do that? I got a call from a "lawyer's office" saying that If I dont pay I will be ... |
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Moonkeybiskits | PROBLEMS REPAYING C/C DEBTS- can we approach the companies and arrange a settlement figure? |
We are massively struggling to pay off our debts as my partner lost his job...another victim of the credit crunch...we have been taking any work we can get but it's not enough and now we simply don't have the money to pay our monthly C/C payments, as well as our mortgage, insurance, council tax, food and all the other usual outgoings.
Please could you advise me on whether the C/C companies would be willing to reduce the debts, I mean, is this somehting they would do in this sort of situation?
And, would it affect our future credit rating?
Many thanks.
Additional Details
P.S. I should add that we are IN THE U.K.! I say this because I have just looked at the CCCS website but it looks like it's an American website...thanks anyway but something relating to Britain would be very helpful :o) |
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Squig
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I work in debt management and although a few people have used legal loopholes this is not a viable option as this is only true in a minority of cases.
Your best bet is to contact your credit card company to advise of your situation and what you are planning to do. Contact CCCS or CAB who are both fantastic and work together with credit companies. They will put together a simple income and expenditure plan for you detailing what you can afford to pay (if you have multiple creditors this will be split pro rata).
Companies will usually accept these plans for around 6 months with a review at the end of it - if your circs havent changed then this is normally extended for another 6 months.
If you default on your payment i.e. make no payments/have no reduced agreement in place your rating will show as defaulted. |
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evie
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The CCCS will help you set up a debt management plan with these companies, but you can take even further action. Caroline is right when she says credit cards and personal loans taken out before 1 April 2007 can be legally cancelled. The website www.bdebtfree.info helped me, so look into this before giving in to these companies. |
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Caroline
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Have you considered trying to get them paid off legally through the legal loophole?
http://www.financeangels.org/
Seriously this is your first option. The Consumer Credit Act 1974 stipulated many things lenders had to do before lending money and many of them did not confirm so many debts cannot be enforced and are written off.
This will not affect your credit rating as the debt will be shown to have been cleared. |
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Lily B Talus
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Yes, dont worry contact the C.C.C.S...google them and they will help you with this, it is free and you can fill out questionaires etc. onl;ine without committing to anything...or try the C.A.B....dont worry, this is easy to solve as you admit that you have a problem |
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Mark C
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The CCCS are absolutely brilliant...and based in the UK and their advise is and services are free.....they helped us out a few years ago. They will liase with all your creditors for you and massively reduce your payments....you need to pay the agreed payment direct to the CCCS and they distribute to the lenders. Creditors won't contact you unless you miss your payments to CCCS. Don't be tempted to consolidate with another loan. Honestly....they took a huge weight off our shoulders and were superb, I can't praise them enough (our advisors' name was Jayne if you would like to talk to her) Best of luck, I hope you get yourself sorted...trust me...it's not as bad as it seems....we came through the other side with their help. |
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Girlie Electrics
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As you are in the UK, take your complete list of incomings and outgoings to the CAB (make an Appointment) and they will contact the card companies on your behalf.
That way, the card companies are more likely to believe your situation. |
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eye_farted
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Ask the United States Congress for a bail-out |
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Dreams Come True in 2009
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Yes, do that before going to credit counselor. You will be able to negotiate a better deal. |
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rayt721
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Your best bet is to contact a consumer credit counseling agency than trying to arrange things on your own. Check out the website link below. These are the professionals. A voluntary program like CCCS will help your reestablish yourself alot quicker than trying to do the same thing on your own. They've been around for awhile and have a decent reputation with creditors. You make one payment (within your budget) and you're done in 3-5 years with lower interest rates and no harassing calls. What do you have to lose??? |
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halfadozen1984
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Contact your credit card company and ask them if there is any thing they can do help you. Explain that you are trying to pay off debts instead of filing for bankruptcy, |
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