 Applying for a credit card that would build my credit report? |
| Hi all, I am new to the united states and has been living here for a year. My current credit score is between 600-700 and I want to open a new credit card account to build my credit history here. W... |
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 Bankruptcy possible? |
| We are a family of 3, annual income about $21k. We have about $5k in credit cards, $7k in medical bills, $14k in student loans, and $2k in miscellanous debts (utilities, etc.) As well as about $15k ... |
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 What is the best first credit card to get? |
| I would like one hat has good rewards, with no annual payments, i have no ... |
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 Why do so many people fall into credit card debt so easily? |
| A lot of people before they get credit card are determined to make full credit card payment every time and say that they can never fall behind because they are responsible. But after a short while, ... |
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 Debit Card Question? |
I have a debit card with about 800.00 dollars on it. Can I use it like a credit card at clothing stores, apple inc etc. By that I mean not over the internet, at the actual store.
thanks
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 Does filing bankruptcy mean I loose my car & house? |
| If I file bankruptcy will I loose everything I have? Will all my debit be down to zero? How does bankruptcy work?... |
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 After I pay my debts, how long does it take for my credit to rise substantially? |
| I will pay off all of my debts in 6 months. Will my credit go up immediately after they're off of the books?... |
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 How do I improve my credit score quickly? |
| My credit score is far worse than I thought, and is dropping by the minute. I have a lot of debt, and little to no time to pay it off. I HAVE to buy my house in June and basically have to raise my ... |
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 Credit card? |
say i dont pay my credit card bill and the bank that has my savings and checking also issued me a credit card,can they go into my account without permission and take the money to pay my bill?
<... |
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 How do I start a credit score? |
| I am 18 years old and have no credit whatsoever, can i have a good credit score by june? and how do I start obtaining credit?... |
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 Difficulty with Experian, re: disputing errors on credit report. HELP? |
| I've been trying to resolve errors on my credit reports recently, but Experian is giving me a major headache. I sent them two letters via certified mail; one to request deletions, and a second ... |
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 Why would identity fraud be my problem and not my bank's ? |
| Suppose someone manages by digital or other means to trick my bank into paying out money which it incorrectly thinks that I have authorised. Isn't this the bank's problem in the end ? S... |
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 Why do people accept credit anf then not pay it back? |
| Don;t they realize that comapnies don't eat those costs, they pass it on to the rest of us who responsibly pay our bills?... |
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 How to increase credit score? |
Equifax is 739
Transunion is 750
Experian is 749
I have my credit card for 14 months ago.
How to increase credit score? cause i dont actualy use my credit card i only use ... |
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| Having problems with debt collector for an 8 yr old account they will not provide info other than amount i owe |
| Today i got a letter through the post from a debt collection agency. When i phond them i was greeted by an unhelpful agent who would not provide me with much info. The debtor was noted as singlepoint ... |
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 Am I reponsible for Mom's debt when she dies? |
My Mom has a couple credit cards and is about 12,000 in debt. Although I am not a joint owner of the card they have had me as an authorized user for years and in fact have issued me
a card in my ... |
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LiaP | Score currently crap (601equifax, 595 experian, and 549 trans)? |
My score was 750 until my spouse lost his good paying job, and couldnt get equivelant pay so our income drastically dropped. We continued to pay good on house and cars, and tried to make cc payments. had to skip payment on one because min was too high, so under universal default the others raised interest and min payment none of these scum bag collectors want to work out a payment plan they want all or nothing and one harrasses me daily for my personal banking info, which I wont give. Question is if I file chapter 7 how much worse will the score posasibly get, I opened 2 small cc to try to rebuild and have been good with them, also would not include them in BK will have 0 balance and hope they let me keep so that I can start the re build process. Its humiliating to do a BK but I feel like it is truly the last resort, I have very little equity in the house thanks to previous refi with cash out to pay for other cc that husband brought to table. what to do I feel like crap! |
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SPIFIMAN1
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bdancer is correct.
I used Consumer Credit Counseling Services several years ago and they worked with my creditors to lower both my monthly payment and interest rate.
You can call them at 1-800-388-2227. |
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bdancer222
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You need to see a bankruptcy attorney to detemine if you are eligible to file bankruptcy. You may have to do Chapter 13, which is the repayment option.
You cannot exclude those two small credit cards from the bankruptcy. Even if you have a 0 balance, the minute the bankruptcy hits your credit report, those cards will also go to the default rate and they may even close the accounts.
You should check with Consumer Credit Counseling Services (CCCS) to see if they can help put you on a budget to deal with these past due credit cards. Here's a link: http://www.nfcc.org/ |
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justcurious
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DONT FILE!!!!!!!!!!!!!!!!
go to
www.cccservices.com
free and they will help you fix your problems--no more phone calls or guilt. See a consumer credit counselor today. Beware of imposters. This should be free. |
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Steveo
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The rules have changed. You cannot decide which cards you will include in the bk, because if they have balances on them, you need to pay. Under universal default, their interest rates will go up, maybe. The current bk rules determine how much you can pay within the next 6 years (I think). If you do a bk, the (601 equifax, 595 experian, and 549 trans) will look like the top of the mountain. I did a bk 8 years ago under the old rules, and I needed to survive and take care of 2 kids of my own (divorce did me in too). If you do the bk, you might be forced to sell the house unless you already have. If you have a late model car, you might be able to keep it, but if it is within the last few years, you will be looking for another car, as they will take that too. Look to borrow against IRA, 401K, Roth IRA, get a second on the house if you still have it.
Go to your church or synagogue. Try to avoid the bk. |
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toolate
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first dont let anyone on hear lecture you, because ive asked similar questions about credit and i got nothing but lectures and solicitations. bankruptcy is definitely the last resort should you need to do it though dont fret. you will be unable to get credit cards and good interest rates on anything, BUT i had a friend do it and its only 8 years later and he got a mortgage well over 350,000 at a decent rate and hes starting to get credit cards again. but hes smart and took classes to prevent him from falling into debt again. it will suck for awhile but it will be ok in the distant future. its better than sinking in debt and having nothing go up for you. but relax because alot more people have been in ure shoes and not everyone has always done nothing but pay attention to their credit. some of us have other things going on and cant pay complete attention to a score. just be smart this time and dont let ure husband or anyone else sink you. you have to be tough after you file because you only get one chance before your really screwed. GOOD LUCK and yes theres hope |
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shamieya
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why are you considering bankruptcy just because you are behind in credit cards?? Have you consider selling your house and downgrading to a smaller one or an apartment to pay off the debt, or if possible selling one or both cars? It doesn't sound like bankruptcy is your next option. How about getting a second job to pay the debt off? Your score will get a lot worse if you file bankruptcy and you won't be able to get anything on credit for about two years. It sounds like you have many other options. |
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Ask M
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www.creditinfocenter.com |
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realangel21@sbcglobal.net
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nothing else is a better teacher than experience, please consider these items if you feel that filing BK is the best thing for you and your husband, ( I am assuming you are still together) when you file a bankruptsy, you and your lawyer go in front of the Judge, he determines what you will pay back and what you will not, base on the paperwork your attorney has submitted with your anwsers to certain questions, For example: do you go out to eat, take your clothes to the cleaners, get your car wash, give to any chariable organzations, if so how much. The judge will determined what you won't spend money on anymore so you can pay your creditors. Don't forget, their is also a trustee who must be paid, and if you are looking for a refund at the end of year, guess what? You will not get it, the IRS will send it to the trustee, and he makes the decision what to do with it. Mind you, we did not have credit card debt, only house and two cars, but my husband's pay was cut also. It gave us the chance to catch up without our home and transportation being taken, This was a chapter 13, we wanted to pay who we owed back, the court, irs, trustee, creditors, all treat you so much better when you want to pay who you owe back. When we caught up with house payments, and autos, we requested a dismissal, after several years we were able to get it removed from our credit, we now have two mortgages and several vehicles, but we are pretty well off now. See what paying back what you owe will do. |
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khinsd
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First of all, there is nothing humiliating about a BK. The fact is; bad things can happen to good people. And a BK is not forever. Experian and Equifax will report it for 10 years, and Trans Union for 7. That is why you often hear that your credit is ruined for 7-10 years after a BK. However, that isn't exactly true, and you can recover your credit score from a BK in 2-3 years if you manage your credit responsibly after a BK, and dispute negative information on your credit report. (See section 611 of the Fair Credit Reporting Act).
You will have to "qualify" for a chapter 7 by passing the means test. The means test and guidelines are on the IRS website. In the event you don't pass the means test, you will have to do a chapter 13. But don't be to concerned; research shows that 96% of those who apply for a 7, pass the means test.
It's hard to say how much your credit score will drop, but I have personally seen credit scores drop 100 points with a BK; it really depends on how much debt your BKing, and how the credit agencies will calculate that into your score.
If you're trying to work out a payment plan, it sounds like you maybe able to handle your bills; at least if they were reduced a bit. I would suggest contacting a consumer credit counceling agency to avoid BKing if you can, as they will be able to get a payment plan for you with reduced payments. Unfortunately, it is rare for a credit agency to work out a payment plan without the use of a credit counceling agency. If you work out a plan this way, tell your creditors you want (in writing) an agreement that they will contact the credit reporting agencies to have them remove the late payments they have posted to your accounts. If they wont do it, tell them your going to BK, and they'll probably have a change of heart.
Also, you stated that you do have a little bit of equity in your home; leave it there. Don't touch it for paying bills. |
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