Paul Rules
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call them and explain the situation. At the end of the day you agreed to pay it by accepting the card but they are not heartless people.
Advise of your current situation with income and other outgoings more important (car, house etc) and then arrange a repayment plan. The sooner you do it the better.
In some cases they will stop you being able to use the card and will stop or at least reduce the interest charges, but you're better contacting them sooner rather than later |
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DaDirtySouth
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they will give u time to pay, & then if u dont, they will come reposses your shoes and underwear |
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The_Handle
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If you are younger and you are still attending school. banks will be eager to accomadate your needs. DO call to speak to a Rep. regarding your Int. rate. In some cases, the rates can be lowered. If you can't afford the interest payments alone, you should cancel the card. Only paying the minimum payment each month, will leave you locked into debt. You will not take off from the principal balance owed, it will almost seem like your bill is "resetting" each month. Pay more than your minimum payment ALWAYS. It is easier to get a bad credit score than it is to achieve a high one. And a good credit score will make your life MUCH easier. |
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beakndi
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You sound young. If you don't pay the minimum amount due they will assess last charges and affect your credit. If your credit is affected adversely, you will pay higher than normal interest and it will stay on your credit for 7 years. |
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ptdemon
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just pay the minimum you have signed a contract they can take you to court really mess up your future credit status baliffs will nick... oops i mean reposses your stuff.. really pay the minimum or a little above it as it isn't worth the hassle in the long run :))) |
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reaper_curse
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you go into default. call them and let them know you can't afford repayments, ask if they can do some sort of special arrangement. if you continue not paying without an explanation they'll call a debt agency and you will have a bad credit rating. |
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DELETE THIS ACCOUNT
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They block the card from more charges then wreck your credit. |
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alis volat propriis
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The best thing to do is pay something, even if it's only $5.00, that shows good faith that you intend to pay.
Paying nothing just messes up your credit. |
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Don't cha?
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Call them and tell them you need them to lower the interest rate. In most cases, they will for about 6 months which will help you for at least a little while. You can also shop around for another card with lower interest....like 1% for 6 months...or 5.9% for a year. You need to protect your credit and continue to make at least the minimum payment on the card! |
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golferwhoworks
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if you do not pay they will call and harass you! Then it will go into charge off status on your credit file resulting in a lower score. At that point they will sell the account to a collection agency who will report the same balance and they will call you every day. After a time you can then settle with them in writing first for about 50-60 cents on the dollar that you owe. The credit file should at that point show settled for less than the full amount.
Good luck! |
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k
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Telephone the credit card company and tell them that you are having trouble paying what they ask each month. They will be understanding and do what they can do to help you until you sort yourself out.
I was having problems myself a year or so ago. If you don't talk to them, they will keep sending you nasty and agressive letters. |
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Prude5
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Do you mean paying your balance in full or making the minimum payments? Sure enough if you don't pay the full balance, you will accrue interest. Your statement should list the minimum amount due for whatever date the period ends. Please be sure if you can't pay off the whole balance, that you do pay off the charges for the month if you can, or at least the minimum amount due. Otherwise, you will be charged a late fee for not paying the minimum amount and that will result in more interest charges.
But if your credit card is overdrawn, try to make payment plans with the company that issued you the card. Otherwise, you may have to deal with a collection agency that believe me, will nag you until you actually pay. If you refuse to pay, the balace will show up on your credit report and can possibly cause you to have a low credit score, which could mean you could be looked over should you need a loan in the future. Some employers now look at future employee's credit history. So please if your card is maxed out and you can not use it, please contact the company and start to make some sort of arrangments to pay off the card. You may have to explain your circumstances and work out an affordable payment plan.
Best wishes. |
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ontario ashley
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Call them, someone I know was in the same situation and they setup an alternate repayment strategy for them. |
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Coo Bird
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...only pay the interest..if you don't your credit will be ruined and then you will get sued |
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Christopher Swing
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You will need to pay at least the minimum balance or you are in big trouble. Not only are they going to hit you with the finance charges but they will also give you a late payment fee which is usually over $30.
I would suggest that you need to make at least the minimum payment. |
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Soo
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Get a loan from the bank and pay it off. The interest rate you pay for a loan is always a fraction of what you pay on your credit card debt. Each month that you wait you had more debts, so don't wait any longer. |
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spike
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pay the minimum to start off with
then see where you can cut your spending
get an extra parttime job
plough all that money in this c/card of yours
it will be tough but you have to get through it |
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WAlsal
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go to a company called spectrum.they are fantastic.if you've got loans and credit cards they'll aproach the company for you.give them a call.find em in the news paper in the back (the sun)good luck |
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flymetothemoon279
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go to the CAB and get some debt counselling they will help you explore your monie options. |
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psoeffing
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If you don't pay, things will only get worse. They can raise the interest rate to as high as 30% !!!
You are probably being charged a high interest rate because you have had credit problems before.
You should contact he credit card company and tell them your problem. They will probably make some kind of arrangement with you. |
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spiegy2000
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You could open a new credit card offering 0% interest on balance transfers. They will probably charge you 2% to transfer, but you will have between 9 and 12 months interest free. Pay what you can each month (there will still be a minimum), and all your payments will reduce the balance. As long as you pay more overall that the 2% charge, you will have gained.
At the end of the 0% period simply do it again with another credit card company. |
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Pandak
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Around $35 will be added to your total as a late fee, your minimum payment will be raised, your interest rate will be raised, and you'll be in a deeper hole. Cut up your card, make the minimum payment, then call to see a credit counselor in your state (many are free), or call the card company and see what they can suggest. |
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