 Is it a good idea to borrow money? |
| Is it a good Idea to borrow money of your bank, and your friends or family?... |
|
 Seriously in debt and living in fear? |
| What are the chances of a couple lasting that are seriously in debt? They have already broken up 3 times in 6 years. They both owe 7 years back payment in taxes plus 60,000 dollars each on other ... |
|
 What are the loopholes in which I can make my credit rating erased or much better then they are today? |
| My credit rating is bad, and I don't know what I owe from the past, how do I find out and what to do about my bad credit. I have been told there are loopholes in fixing my bad credit rating, but ... |
|
 How does bankruptcy affects cosigners? |
| I am considering filing for bankruptcy, but I have cosigners on equipment I leased for my business. Is there a way to file without involving my cosigners? I would be filing for personal bankruptcy ... |
|
 How long does bad credit follow you?Can and old bad debt resurface? |
| I was told bad debt may linger or re-surface when debt is sold to a collection ... |
|
 Can debt collectors do this? |
| Okay I have a credit card that I haven't paid on in a year. I did try to pay it off last February in full because they sent me a letter saying I need to pay by the 14th. I called and said I ... |
|
 Credit and marriage? |
| If I was to marry would my bad credit affect my husbands credit...and would his good credit affect mine?... |
|
 Simple CREDIT CARD question. Please help if you can? |
Hi
I don't really understnad how the whole banking thing works and was just wondering if someone could help me.
I just checked my credit card details through online banking.... |
|
 Bad credit loans? |
| i have bad credit but need a small personal loan with no upfront fee. Can anybody help me?... |
|
 Where can I get a "real" free credit report on the web? Anyone know a ..? |
real site that does this without having to sing up for anything or get spammed?
thanx
Additional Details
Oh I forgot to add this I am from Canada and freecreditreport site ... |
|
 Should I pay this off?? |
| I received an offer in the mail for a settlement on an old credit card debt. It's almost 10 years old. Do these fall off of a credit report or should I pay it? I cannot find any information as a ... |
|
 650 credit score with 16% APR? Bulls**t!!!!! Finance Manager? |
| I went to Toyota dealer yesterday to buy a 2007 camry. After taxes and adding a sunroof the car totalled 23000. The finance manager tried to give me a APR of 15.95% and the car note would be 618. W... |
|
| If you have good credit and your spouse has bad credit, how much does it affect you? |
I'm debating this with my boyfriend.
He says that if he has bad credit, and I have good credit, and we get married, his bad credit will not affect me at all.
I say that when we're ... |
|
 I don't have a credit history. What can I do? |
I tried to get a mobile and the shop told me that I don't have a credit history. I have never used a credit card or loan, which I thought was a good thing.
Please help!... |
|
|  |
wanna-be-debt-free | Should I settle my debt of pay it in full? |
I am 10 k in debt and haven't paid on any of it for over a year. I know that if i make a settlement that it will show on my credit just as that and not paid in full. I think i can cut the amount of time and the amount i owe almost in half. What should I do? |
 |
 
Paul J
|
Chances are the interest on your debt is high (around 20% for most credit cards). Unless you have a 0% APR deal from a credit card, you will most likely be unable to earn a greater return from investments then the interest lost on your debt. It is difficult to earn more than 10% return on investments w/o taking significant risk.
Therefore, it is ALWAYS best to pay off your debt in full. Unless you are getting a zero or very low (less than the 5% guaranteed from a savings account) percent APR, pay off as much as you can. With your remaining debt, transfer the amount to a card with the lowest introductory APR possible. The trick to introductory APRs is to be absolutely sure you pay off or transfer the debt, in full, before the introductory period ends. If you do not, all the backdated interested will be added to your balance all at once (which defeats the entire purpose).
The key to remember is that banks make money by borrowing money at a lower interest rate then they lend money. An individual should always look at their debts and assests in a similar manner. Banks do take credit default risk in an individual (by that person declaring bankruptcy), but the huge interest rates they earn from credit cards and people making stupid money mistakes more than make up for that risk/losses.
The only downside I can think of with regard to paying off your debt in full is if you need a signicant amount of cash, and only cash, at any point. A cash advance on a credit card charges a ridiculous interest rate, and accrues daily. No individual would normally find themselves in this position however, as most stores, shops, hospitals, restaurants, service stores, etc. accept credit cards as a form of payment. Unless you deal drugs or other such criminal activity that requires cash, pay off your debt. |
|
Annette G
|
I would make a settlement either way its going to show on your credit. stinks i know. when i was late on some of my bills even though i paid them off it shows up on my credit bad. i hate that!! its hard for anybody these days to have perfect credit. even if you are one day late paying a credit card or car payment they report you and it shows up on our credit.sad. good luck!! |
|
ill take it straight with no ice
|
family, house, food, clothes then pay debt |
|
SingGirl
 |
My suggestion is pay the debt in full if you're able to if not speak with the bank and see if they can restructure the loan repayment by installments over a period of XXX months. Only when the debt is paid in full otherwise your credit standing will not look good incase you want to borrow in future. |
|
Celi
 |
Just keep paying bit by bit. It won't go away unless you make it go away. Good luck! |
|
Wendy T
|
If a collection agency or other creditor offers you a settlement this usually means what they will accept to satisfy the debt in full. Make sure to get this in writing, if you do need to speak with someone on the phone, get their first name, last name or employee/operator number. Document the text of the conversation along with the date and time you spoke with them. Also make sure to follow up with the creditor once the total payment has been received to obtain a paid in full and/or account closed letter. Then you need to forward this information to the credit reporting agencies such as Equifax, etc. If it is a secured debt against real property or recorded at the county you will need to have this removed with the property release,etc. |
|
Hima K
 |
I can suggest a debt settlement company which helped me in this issue.
They will negotiate with your creditors and bring down the principal debt amount by 30% to 70% depending on who your creditors are. You can send in one minimum monthly payment according to how many months programe you are joining with them.
For example your debt is 10k and that can be paid off in 18 months as my knowledge if you make monthly paymentts.
Check their website
Good luck
http://www.debtfreeafterall.com |
|
eMale
 |
If there's anyway you can pay it pay it in full. |
|
Dr Dee
|
It will probably show even if you pay it in full, might as well save some money. |
|
yy
|
You should settle the amount owing to prevent the debt from enlarging. I understand that the credit card interest is very high. If you can afford to pay in full, it is even better. |
|
sue d
|
It's true, some companies will settle for less, just to get money out of you. I don't know about half tho! The interest on it must be awful? It's not going to look good on your credit, but after not paying for 1 year, I don't think you need to worry to much about your credit for awhile. Except, when someone else decides to take you on, you bet their going to notice you cut those other people short. It could always be a medical reason later-excuse? Not cool I know-BUT...... |
|
Marcus L
|
Financial advisers recommend paying off your high interest debt first. If you are just starting out some debt is good if you want to establish good credit. |
|
yang
 |
pay it in full so that there wont be any further charges since you are able to do that |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 32 minutes(s) ago
| | | |
14 | 38 minutes(s) ago
| | | |
13 | 2 hour(s) ago
| | | |
13 | 7 hour(s) ago
| | | |
13 | 8 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
13 | 11 hour(s) ago
| | | |
13 | 2 day(s) ago
| | | |
13 | 5 day(s) ago
| | | |
12 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
