 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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 What credit card company offers a low interest rate %? I need to open a major credit card.? |
| I'm 18 years old and I would like to open a major credit card but I'm having a hard time finding one that has a low interest rate. Any suggestions on who to go with or where to look on the ... |
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 If we didnt have CREDIT we would never survive on our salaries so why is everything so expensive that we have? |
to have credit to afford them.
Additional Details
I DONT HAVE A CREDIT CARD OR ANY CREDIT I BUY WHAT I CAN AFFORD WITH CASH AND GO WITHOUT TILL THE END OF THE MONTH IF NEED BE... |
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 Credit card APR? |
| Is 17.9% to 19% APR bad for a Hess Gas card. We are trying to better our credit as much as possiable.. If we buy gas every month and pay it off in full will the APR even matter??... |
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 How do you get ONE free credit report without signing up for a trial of anything? |
| I keep seeing offers for free credit reports. But you always have to signup for a month of service that will continue in perpetuity unless you go to them and tell them to cancel. Is there a way you ... |
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Matrix | To file for Bankruptcy or not? |
Can anyone explain to me how the bankruptcy law works in the USA. what does it really entail and how long after that can you be credti worthy again? IS this a good idea or its just an easy way out with hidden, much more serious connotations? |
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butterfliesRfree
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I've filed bankruptcy AND I've worked in the legal field. A lot of people think that the bankruptcy is "gone after 7 years" when in reality and legally, it can stay on your credit report for 10 years or more. There are SO many things that happen with bad credit. I'll give you a for instance - our scenerio. We needed a new car. We got a high risk car loan. We bought a used car with payments of almost $400.00 a month. It was the only car loan we could get. We had trouble finding an apartment because they check credit. When we did find an apartment, we got sacked with the highest security deposit they could legally charge because of credit. Employers will check your credit too. Some people have said they get requests to sign up for new credit cards after bankruptcy. We probably got some too - but they have a hitch too.
Now, on the other hand, we had taken care of old credit cards and all so that took nasty phone calls away and I didn't have to worry. But years later, life took another turn and did a double whammy on us. So we are back in the same position (not because of credit cards - we don't have any) -- but just a whole bunch of bad stuff. When bad stuff happens and you have bad credit, you can't get help. Things get worse and worse. This is how the "poor get poorer."
If this is your only option, be thankful that it is there and you WILL be relieved in the beginning after the hearing is over. Remember, if you are in that much trouble with debt, your credit is going to be bad anyway - even if you didn't file bankruptcy. The bankruptcy will take care of all that other stress. I'm sorry you are going through this. I honestly mean that - because I KNOW. |
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Zina D
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there are different chapters in bankruptcy. You need to read up on the different kinds. I make loans every day with people that have filed bankruptcy at one time or another. For the home owners that I have helped it hasnt effected there rate if the bankruptcy has be discharged. |
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john d
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There is some useful advice here. |
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Joe K
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Its like this- If you file bankruptcy, you still owe the money. Most times the bad debt is charged off after 3 years or so and usually eliminated completely after 7 years. If you do not file for bankruptcy, you still have half a chance to eventually pay your bills and rebuild your credit. If you file bankruptcy, you are stuck for at least 7 to 10 years before you can get credit again. You are better off just waiting out your creditors before the debt is removed from your credit report.
Bankruptcy is good only if you are in danger of losing your assets or your business. But if you have debts from credit cards, medical bills, etc. then you are better off either trying to pay your bills off one at a time or waiting 7 years for the debt to be forgiven. |
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?
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Well in my opinion bankruptcy gives people an easy out of their spending problems. I think you are closely scrutinized in your spending habits and watched closely. |
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sjeboyce
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try using a debt consolidator...like careonecredit.com they helped me out (32,000 in debt and only pay 485 a month) |
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bugjjo
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Try to work with your creditors, I called each of them up and they offered to drop all annual and finace charges to help me pay them off that helped me big time. However once they do that for you they shut down your account so you can not add any additional charges. |
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Flower Girl
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It is the easy way out for people who are mostly irresponsible. You shouldn't buy what you can't pay for! The only thing you should put on credit is your house, everything else is cash only! You bought it, now you pay for it! Why should I have to pay extra fees and costs because you and others are to selfish to be responsible for your own deeds? Pay your bills!!! |
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Paul
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I don't know exactly how it works nor can I tell you how long it will ruin you credit. What I can tell you is that it is a bad idea. Don't do it if you have a choice in the matter. It ruined some of my friends. |
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Lis
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Depending on how you file bankruptcy will determine how quick you can out from under debt. Chapter 7 will cancel out your debt and Chapter 13 is where you pay back a portion of your debt over a period of time. Both bankruptcies will be on your credit for 7-10 years. Make sure that this is a last resort. It will be hard for you to get credit at some places until the bankruptcy is off your credit. Chapter 7 is an easy way out because you don't have to pay anything back. But since last year the laws have changed and gotten harder on individuals trying to file. You really need to check with a bankruptcy lawyer. Most of them offer a free first consultation. |
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karo_80
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Your credit is pretty much destroyed |
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