 Any such thing as loan sharks? |
| Really I mean is there actually any loan sharks out here ?? You know not in Nigeria or scam artists. Seriously I see people putting posts in asking for loans and quite frankly the responses for one ... |
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 Credit card help? |
| I just recieved my credit card in the mail. I have a $400 limit, and a $80 cash advance. I am still learning about credit cards. If I need to make a cash advance will I have to pay apr, interest ... |
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 Do u ever know what is the cheapest thing on earth? |
| Just Tell me......Course I can't find one.......... |
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 Is it possible to ask for a "credit decrease" on my credit card? |
| My credit card has a $500 limit, but I'd rather have it at around $300 so I'm not tempted to spend the whole $500. If I ask them to make my credit limit 300 instead of 500... can they do ... |
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 My credit score is in the poor range like 500 or so. I owe about 1700 in debt. Im about to pay 500 of it now? |
| the remaining 1200 i will pay monthly hopefully have paid off by october. ( i got 500 back from an old employer ) How soon will my credit score be impacted. Its been a year since my last late pay. I ... |
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 I want a prepaid debit card for online purchases only. Where do I find one? |
| I do not want any credit checks, I don't want to give out my SSN or real name, I have no problems with giving out my address for shipping purposes, but I've been burnt and I will not use my ... |
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 I have bad debts for my credit card.? |
| I was in prison for 2 yrs.My credit card was about 25k, after my release it jump up to more then 50k. Altogether 5 banks. Can I still get a bank to settle all my previous debts. Because to pay one ... |
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 Credit card full payment before due time - how it will affect credit score? |
| is my credit score negatively affected (even if capital one doesn't report my credit limit)? i always pay in full and before due time.... |
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| How many credit cards you carry? |
| How many credits cards you carry? I like to have a VISA credit card since it's accepted to almost anywhere. I like to have an American Express too since I always buy at Costco in bundles and it ... |
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 As despised a credit card is, why do people like them so much? |
| itunes accounts needs them. paypal needs them. ebay needs them. and almost all of internet shopping vendors (read:scam websites) requires you to have a credit card account. but what i see, the ... |
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 How to stop collection calls ? |
| How to stop Collection(debt) calls at my work ? I don even know how did they got my work number ?... |
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 I was really stupid when i was 18 and got my self into debt. I'm now 25 and a little bit wiser but? |
| i now have a terrible credit rating. I would like to get a credit card just for emergancies (i'm now actually good with money!) Which credit card companys in the uk are good for people with a ... |
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 I have bad credit and someone told me I can erase my credit rating by getting a new Social Security number? |
| A friend said that since credit bureau use your Social Security number to report people that I could eliminate my bad credit by getting a new social security number. Is that true? Is that legal?... |
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 What is the best credit card to use?.? |
| I have good credit so far and I want to keep it that way.... |
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 Bad Credit & Credit Cards? |
| When I was in college I did not pay some debts that went to a collection agency and was not payed unitl 5 years after the fact. Now that I am trying to obtain a credit card everyone/agency/bank is ... |
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luny323@sbcglobal.ne... | What happens if you don't pay back the credit card?? |
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bratchild
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interest increases, collectors start calling, and you ruin your credit. Never charge what you don't have. Cash up front is my motto. |
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bec3tiny
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Ummm it goes on your credit report and they reposses your stuff. |
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isles1015
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Ha! You have so much to learn.
If you don't, collection agencies and lawyers call you until you pay up. If you don't, valuable items can be taken away from you.
Plus you'll never be able to get another credit card or loan or car or house or...anything! |
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kath68142
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Well, if you think you can't afford to make the monthly payments on the credit card now, wait until the late charges start piling up! If you still refuse to pay the bill, generally it is given to a collection agency. Some agencies try to work with you...not many though. If you still refuse to pay the charges, the issuing bank can go into court and file a lien against you (a judgment). By now, your credit score is so shot, you won't be able to buy a car, a house, or get any more credit. So, I HIGHLY recommend just paying the damned card off! |
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Art The Wise
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You will get a very bad credit rating in your file. It will affect your chances of buying a car, cell phone and a home for a very long time. If you charge, be sure you can pay for it and do it fast. Don't just pay the minimum. |
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zaphod
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You'll have a big problem!! |
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yawmee
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you will accumulate interest. then soon, your credit will rise to millions. if you don't pay them, they can file charges against you. |
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Kevin N
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I'm not sure where a lot of these people get these ideas, but most of them are wrong.
A credit card is revolving debt, secured by nothing. So no, nobody's going to come and reposess anything. And no, you won't be blacklisted from getting a loan.
HOWEVER, it will go on your credit report, and you can pretty much forget about getting another credit card or loan with an interest rate below 25%, and all sorts of unusual fees.
You can also plan on living that way for at least the next seven years, which is how long it will take for it to come off of your credit report.
You can also forget about having any sort of job where you'll be responsible for large amounts of money (whether that's at a bank, or in an office where you would be expected to maintain a budget).
If you own a house (or buy one before the statute of limitations in your state has passed), they can put a lien on your house, forcing you to pay. If the amount is substantial, they can take you to court, where you will have a second negative mark on your credit report (because public judgements go on your report, too).
On top of that, you can plan on getting lots of angry letters and phone calls to your house for years to come. |
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.
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You ruin your credit and can never get a loan |
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goodgirl516
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Ok so let me break this down to you for all of you that don't know the way these companies go! You ready ok...
Every creditor is insured thorough major insurance agencies up to 70% of every account that they have. So if you go belly up on your account the original creditor get 70% of that debt back.
Then they will be able to write off up to 20-25% of gains and losses for tax purposes. So if you do the math they just made 90% of the money back that you owed.
Then the original creditor turns around and sells your account to a collection agency for pennies on the dollar. Which in turn makes the original creditor more money than if you were to pay the debt in full to them.
LEGALLY,
What this means is that the "Burden of Proof " is now off of you and now on the collection company. That account that you opened has now been paid in full through other means... but still has been paid.
By challenging and investigating these accounts they can be legally deleted through the four credit laws. You can go to a credit restoration company like Trinity Credit Services and they will be able to take them off of your credit report. |
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roninscribe80
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Then you're screwed. If you can't pay back a credit card, then don't get one until you're sure you're in a situation where you can. |
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