 Do i have to get a credit card to get a car or house? |
| i really really don't want a cc because i know all the cons of getting one but i want a car really bad. is there any way to get credit w/o getting a cc and if i got one and didn't use it ... |
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 If i dont pay for a credit card bill in 3 months is that fraud? |
| I havent paid for my credit card in 6 months and its because i am a full time student and i have a part time job. I do want to pay for them but i also have other bills. I dont wnt them to think im ... |
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 I had a judgement back in 1999, they just decided to garnish wages. what can I do? |
Additional Details
It has already been on my credit for 7 years and the judgement just expired in August. It was supposedly money left over after a repossesed car was sold.... |
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 Are you more likely to be approved for a personal loan if you have a co-applicant? |
| I need a small personal loan for $2000.00 but my credit probably isn't the greatest. I'm not really sure what is in my credit report. I was approved for a computer from dell a while back ... |
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 How drastically does an auto loan affect your credit? |
| I just got one for 54 months the payments are very reasonable and its set up as an allotment so it automatically comes out my paycheck and I don't have to worry to much about anything. I'm ... |
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 Cheques or no cheques? |
| Are cheque books becoming obsolete, went to buy an item in PC world, but was refused , said cheques were unexceptable...Credit card or go somewhere else...I realise that the Country went to the dogs ... |
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 How bad is it to use a credit card? |
| I only have two credit cards. One is for Macy's and has no balance on it, the other is a Visa and it has a credit limit of $3,100. That one has only about $150 credit left on it. How bad does it ... |
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 Credit Card w/ late payments? |
I opened a new credit card account 07/2005 with MACYS, 09/2005 I stopped paying and now that Im monitoring my credit score I see it's status which is (120 days late, Late by 4 payments)
... |
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 I have a friend that is wanting to get a personal loan for $2500-$3000. She does have bad/poor credit.? |
| Is it possible for her to even get a personal loan for that amount and if so where/what is the best recommendation for her to apply that's legit? Where could she try and how fast would she know ... |
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 I'm like 10G's in debt, what is a good credit counseling company? |
| I was young and stupid and got myself in debt, i haven't paid it off because i was unemployed. I currently got myself a part time job and want to start to fix my credit. Does credit counseling ... |
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 Can I get a loan for $100,000? |
| I make about $25,000 yearly. I am 22 years old, have been at my job for 18 months. I have no debt except for a medical bill which is about $200 a month. My car is paid off. My credit score is ... |
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 How good is a FICO score of 732 for a 23 year old? |
Additional Details
someone asked about what loans and CCs i have had etc... I've had....
4 loans, all paid off, 0 late payment
4 credit cards, all paid off, all ... |
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April Ski | Should we save for down payment or pay off debt? |
My husband just married me and my two kids last year and we are trying to make some decisions. Because of student loans and cars, and some credit cards, we have nearly 40,000 in debt! Some of it (like a credit card with 11,000 on it and high interest) needs to be payed of asap and we are being very frugal to do so. But since house prices are SO LOW now, should we start saving up for a downpayment so we can stop renting? Should debt always come first even when the market is in our favor? It seems like it's going to take at least a year and a half to take care of the urgent (high interest) debt.
Thanks in advance! |
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ciaobella
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Credit card debt is way worse than paying rent. And you have a lot! That debt would totally eat up what you can save. Pay off as much of that CC tomorrow if you can. If you can't even do that, you shouldn't even consider a house.
When you get a house, you need to look pass the down payment and also look at the monthly payments, which will kill you in the end if you can't afford them. I live in the expensive part of the country... I had $60,000 for a down payment, no debt, no kids, a medium income and though I qualified easily for a loan, I knew I could not afford even a 400,000 place. I would pay like 2,200 a month just for rent and condo fees...giving me just under $800 a month to spend on everything else. Not a situation that I want to be in for an indefinite number of years.
It's not a sin to be renting. Good luck. |
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kmkagreen
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You should definitely pay off the debt first. This will do several things, increase your credit score and give you the opportunity to find better financing with a lower interest rate when you do buy a home, and even though this should be a plan "z" open up those funds in case you have a financial emergency once you do own a home. I am in the process of paying down my credit card debt and before I made the first payment I froze my cards in a block of ice so there is no immediate temtptation to reuse them. Pay off the smallest balance first, this will give you a sense of accomplishment and then you can put that monthly payment to the next smallest card. Good luck...and houses will likely be as cheap or cheaper in a yr and a half!!! |
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bdancer222
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Pay off the debt. You won't be able to get a mortgage with that much debt. And you certainly would end up in financial problems if you buy a house while still carrying all that debt.
Pay off the credit cards first. Take every penny you can squeeze out of your budget and throw it at the highest interest rate credit card, while paying minimum on the rest. When the highest card is paid off, move to the next till they are all paid in full.
Housing prices are going to be low for the next few years. |
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Lee
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The debt needs to be priority. Whille a down payment is important there are plenty of options for zero or low money down mortgages.
You should also meet with a mortgage agent sooner then later as they can give an idea of what you'll be able to afford and how your debt can effect that number.
good luck |
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JP
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If you do not have an EMI scheme for paying back the old debts, it is better you pay as much as possible to the credit card account, and pay off that debt first. |
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TOM
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Debt is dumb. Most normal people are just plain broke because they are in debt up to their eyeballs with no hope of help. If you're in debt, then you're a slave because you do not have the freedom to use your money to help change your family tree.
According to a recent USA Today article about debt, 78% of Baby Boomers have mortgage debt, 59% have credit card debt, and 56% have car payments. It takes a lot of will, discipline, courage and help to slay the debt monster. But it can be done. Imagine how much you could put toward retirement if you just didn't have a stinking car payment? This is how the wealthy really build their wealth. Debt is dumb. Welcome to the real world! |
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vash
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pay off the debt....y should u pay interest which doesnt get u any benifit??? thus interest saved can be saved for the down payment.... |
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MooNBoY
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i think you should pay off your debt. house prices shouldnt go up much more and infact look like they are baout to fall and i mean fall. here is a debt buster if found on the net:
http://tirral.mission2k.hop.clickbank.net/?tid=YH |
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greffy
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Prices may be lower on houses but the rules for getting a loan are much stricter now.
What good is it to save for a down payment if you can't get a mortgage? You need to pay off those loans to be able to obtain a mortgage n the future.
Do you understand that you will need probably need a minimum of 10% down for your house? If you buy a $200,000 you will need at least $20,000 down. The housing deflation does not help you get a mortgage. |
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MoneyMonkey
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Pay off debt. Housing prices are not going to go up any time soon, and will likely continue to fall. There will be plenty of time for a house, but getting out from under credit card debt, car loans, and that student loan will make owning a home much easier in the future. Read Dave Ramsey's book, Total Money Makeover, and get on a plan with your money so you can live within your means. This will not only change your life but will set a good example for your children. Good luck! |
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Lilgiggles
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Save for a house, by buying a house your helping our economy as a whole. But if you fear the high interest than pay the debt. Either you want a nice home and pay the extra thousands or tens of thousands depending on your rate, or sacrifice another year and a half and pay off. Houses will always be there too btw. |
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