 How should i deal with my debt? |
| im currently with Scottish power for my gas and elec, and have been unable to keep up with the payments so have a debt of £915 with them(wont bore u with the details). They have now passed me on to ... |
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| 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 ... |
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 What does "Principle" mean when dealing with loans? |
It's hard to find the definition. I have looked it up before posting here, but can't find it.
Thanks in advance.
(I do vote best btw)... |
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 When a credit card had "check ID" on the back, what do I need to look for on the license? |
| I know that the face need to match the person, and the name on the credit card needs to match the name on the ID. Is that it? Or do I need to check anything else?... |
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 Hey can anyone tell me where i can get a loan for 3000 dollars please help? |
| hey im unemployed have good reefences but bad credit rating im after a loan of 3000 dollars does anyone know where there a website that will loan me the ... |
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 â–º Whats the best way to build my credit? Right now I have NO credit at all? |
Im 21 and have NO credit.
Im also a college student and have no job (hence no money, lol). I graduate next year (May) and will need an apt and car, but right now I dont have any credit. What ... |
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 I was served papers for an overdure credit card? |
Okay so I got served papers for an outstanding credit card debit.
The balance is now $6,000, but the credit limit qas $2,000. I had called the company several times to try and set up a ... |
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 Suggest credit card good one? |
| which credit card is good?... |
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 Capital one card? |
| iv just been offered a capital one card and can have up to 2500 pounds say i spent all of that what what kind of payment would they want each month and are capital one a good card company to go with ... |
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 Is it dangerous to give ur credit card number online? |
| ok i have never bought anything online.....but i really want to pre-order the 4th book of twilight series online at amazon.com and they ask for u credit card number over there.........is there any ... |
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 Is it better to pay off current non-delinquent debt or my spouse's past credit delinquency? |
| We are trying to clean up our credit scores and are about to come into some money. We know we need to pay off some debt, but are unsure whether to pay off old delinquency's or if it is better ... |
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 I am trying to apply for a loan asap, but i am not on electoral roll..? |
i am really distressed at the moment as i need to borrow money urgently.
please help me, my car is on my name and so are bank statements,
thank ... |
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 Is it a good idea to borrow money? |
| Is it a good Idea to borrow money of your bank, and your friends or family?... |
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 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 ... |
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 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 ... |
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 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 ... |
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 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 ... |
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BlueCollarMan | What happens if I stop paying my credit card entirely? |
No BS here
We're severly in debt after my wife quit work to have our children be a stay at home mom 5 years ago. I work 2 jobs but its not enought. She has few job skils at any rate
Thinking about bankrupsy but decided against it
What would happen if we simply stoped cause can,t pay anymore
This week we can barely buy a few groceries, $20.00 total for a family of 4
thanks for your suggestions |
 |
 
God
|
It partly depends on how much debt you're in, but generally speaking, NOTHING will happen.
You'll get endless phone calls. You have the right to ask collectors to only call on a certain day. You have other rights to protect yourself from collectors which you should investigate.
In this situation, rent, food, and medical expenses come FIRST. Credit card debt comes LAST. Don't feel guilty about making that choice.
Credit card debt is unsecured debt, which means they can really do NOTHING if you don't pay. They can call you repeatedly, and they can threaten to sue and garnish your wages, but it's usually not worth their time and expense to sue. They just write it off and it ruins your credit score.
Credit card companies are often willing to work with people in your situation and renegotiate the terms of payment.. They'd rather get smaller, later payments than no payments at all.
You should find a Consumer Credit Counseling agency in your city. They can help you consolidate your debt, figure out what you should do, and make a plan. Make sure you find a reputable nonprofit Consumer Credit Counseling Agency, because there are some companies out there that call themselves credit counselors that are really debt consolidation rip-off artists.
Don't feel intimidated by the credit card companies. Just try to come up with a responsible plan for dealing with your situation. Good luck. |
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Waine
 |
Not sure if they'll work for this but here's two links that get me tons of best answers:
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
people telling you that you'll go to jail are wrong at least in the UK.
At worse they'll send bailiffs to get your goods but if you move home then that is about it, this is in the UK.
I think the blacklist only lasts for 5 years then you can re-apply for another credit card from the SAME bank. I know someone that used to work for barclays and did it to them at least three times over some 20 years, he just used the cards normally until they increased the borrowing amount then drove them through the roof and disappeared for some 5 years. i think he did the round of the banks every 5 years for a while, very strange but true.
He also changed his name (legally) a few times and did it some more.
It is not a criminal offence so you don't go to jail. This is in the UK and it is as far as I know, so don't go about blaming me if something go wrong, I pay my bills and will die poor but honest. |
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Russellmania
 |
They keep sending you bills with intrest compounding and apr soaring for about 7 months than they turn them into collection than they will go to court and get judgement against you and garnish your wages. Depending how much you owe you might consider consoladation but if too much bankruptcy might be only option. I feel for you. I know the place your at right now especially that trying to make the money buy more food thing ($20 isn't a lot). Shop Wal-mart they comp everybodies prices for 60 miles. Just find the ad. Good Luck. |
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emac4lyf
 |
You will be in total debt with interest..
Get families to help you.. or talk to a Financial Counselor.. |
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Kiki
|
Well, they will charge late fees, eventually over-the-limit fees, etc. It will hurt your credit report/score. They will probably send it to a collection agency, which will harrass you, but at least it won't continue to go up. The issuer could choose to sue you. |
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ALBPACE
 |
You will have to pay a late fee everytime only adding to your debt. It will also ruin your credit score. I would atleast try to pay the minimum. Do you think your wife could take in a couple kids to watch for a fee? It may help with your situation. I hope everything works out. |
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Sudoku Player
 |
declare bankruptzy- you will have bad credit for 7 years, but you wont have to pay anyone back. |
|
me
|
You would have a trashed credit rating - and it would not go away for a very long time - so you should not expect to be able to finance a car or a house, or get favorable insurance rates ---
Your interest and late charges would pile up- Sky High. If the credit company does not choose to write it off, they could go to court and seek a judgement against you
You would be harassed by mail and by phone by collection agencies -- for a very very long time.
A BETTER STRATEGY: Seek Credit Counseling. A recognized consumer credit counseling agency will work with your creditors, to work out something mutually acceptable.
There are for-profit credit counselors, and non-profit credit counselors. Your local United Way would be a good place to begin looking for a non-profit credit counselor; any phone book, or TV ad would be a good way to begin looking for a for-profit credit counselor.
ANOTHER PLAN:
If you have personal property that is of value - sell. If you have a house, with equity - refinance. |
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doublek
 |
Be careful about the bankruptcy idea. There are two kinds and both cost money to do, in addition to playng havoc with your credit for years.
Mary Hunt, who is the editor of the Debt-Proof Living newsletter, seems to like this credit counseling agency in Atlanta. Here's what she said about it in a recent newsletter. I have no affiliation of any kind with them or her, but it seems worth a look.
"While there are many excellent and reputable counselors out there, my all-time favorite remains Consumer Credit Counselors of Atlanta. Call (800) 251-2227 or visit www.cccsatl.org to learn how these fine folks can assist you with your overwhelming debt load." So says Ms. Hunt.
Sometimes groups like this can stop the phone calls, negotiate lower rates and reduced charges and the like. Give it a thought and best wishes to you. |
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jenzen25
 |
for starters i would get rid of any unnecessary bills, including internet and cable if you have any...that would pay for a few extra groceries, and i am not being sarcastic.
your wife could still do some things at home like putting an ad in the paper to iron clothes, etc...im sorry for your situation, things will work out.
if you stop making payments they will eventually will get their money that you owe. simple as that. |
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kaatryn
|
Check for free credit counciling in your area. Maybe they can help. |
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Death
|
Well first off the phone calls, letters, and visits to your home(yes they can do this) will never end. After so long they can file a civil suit against you and get a judge to order you to make payments if you don't you go to jail. This is after they reposes the items they can that were purchased on the credit card. File bankruptcy before you decide to just not pay your bills. |
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