BaFfler
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Renegotiate, get the deal back. |
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fr_chuck
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take you to court, and get a judgement, with a judgement they may attach your bank accounts, and/or garnish you wages |
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chazohio
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you must make your montly payments, at least pay the minimum charge, it will screw-up your credit |
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kmclean48
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REALLY MESS YOUR LIFE UP...SEROUSLY FOREVER. DON'T MESS WITH!!!!!!!!
CREDIT CARD COMPANY LEND MONEY TO "HIGH RISK" PEOPLE BECAUSE THEY EXPECT A HIGH RETURN ON THEIR INVESTMENT. THEY ARE OUT THERE TO MAKE MONEY, THAT'S THEIR GAME...PAY IT OFF AS FAST AS YOU CAN.
CREDIT CARD COMPANIES LOVE FOR YOU TO MAKE THE MINIMUM PAYMENTS THAT MEANS THEY CAN COLLECT MORE INTEREST PAYMENT FOR THE SAME LOAN THAT THEY GAVE YOU.
BASIC NOTE: EACH PAYMENT HAS A "PRINCIPAL" PAYMENT AND A "INTEREST" PAYMENT.
THE REASON YOUR RATE TRIPLED IS BECAUSE THEY PLACED MONEY ON A "INTEREST PAYMENT" IN SIMPLE TERMS THEY LET YOU PAY LESS MONEY FOR A YEAR BY CHARGING YOU A LOWER INTEREST RATE AND ADDED WHAT THEY WOULD NORMALLY GOT TO A "INTEREST BALANCE" INSTEAD OF YOUR NORMAL BALANCE, AND THEY DELAYED THE INTEREST PAYMENTS.
IF YOU DON'T PAY THE CREDIT CARD COMPANIES THEY WILL NOT CLOSE YOUR ACCOUNT BUT THEY WILL CONTINUE TO RAISE YOUR INTEREST RATE AND WILL EVENTUALLY (AFTER THE BALANCE IS EXTREAMLY HIGH) COME AFTER YOUR ASSETS (ONE NOTE:IN SOME STATES YOU CAN NOT ERASE CREDIT CARD DEBTS WITH BANKRUPCY).
PAY THE DAMN CREDIT CARDS AS FAST AS YOU CAN!!!!! CREDIT CARD COMPANIES ARE IN THE BUSINESS OF MAKING MONEY...THE MORE PEOPLE USE THEM THE MORE MONEY THEY CAN GET... |
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Bobby
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theyll send your balance to the collection agency. |
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lakedweller
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keep threatining you till you make a settlrment or pay minimum forever |
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Chad
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why don't you return everything you bought with the card and then pay them back. |
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owenmurdoch
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Try to contact them as soon as possible and explain your situation, don't be embarrassed or shy.
They need to know you have a problem, and most credit firms will do their best to help struggling customers.
If you ignore the problem, your credit rating will drop through the floor and you will have terrible problems getting credit in the future. |
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nemraC
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harass and bother you continuously |
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el
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Guess you're going to have to go to one of those debt consolidation places - or get a debt consolidation loan. |
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cooltoque
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They can ruin your credit, so you can't buy a house or car on your own. They will send collection agencys after you. The only thing you can do is pay it down, or find another credit card to transfer your balance to that will charge you less interest. You can call the card company and tell them that if they won't lower your rate that you will be changing cards. Sometimes they don't want to lose your business to another card and will lower your rate to keep you put. If you can get them to do that, pay it down! Make sure that you talk to the manager not the lakey that answers the phone. Most companies will do anything to keep you locked in and paying intrest to them instead of someone else. If they will lower your rate to 9% instead of the 18% your paying (probably) now You win and they win too, because it you transfer to another card they get 0% and they will take 9 over 0 anyday. |
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uvette77
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they will put a negative report on your criedt report. call them back & explain what you just said here. Maybe they will work someting out with you. |
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yellowsunfire1971
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i work in the small claims court division, they will sue you and trust me a judgment on your credit is worse than bankruptcy, don't let it get that far |
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Sparkling pearl
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They will send you their debt collector to 'force' you to pay that bill no matter what.. |
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balloon knot
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they will charge you so much in fees and interest that when you finally do pay, and you will, it won't even be worth it. Credit card debt never goes away until it is paid. |
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FreedomLover
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They can destroy your credit and sue you to take the money. What you need is a 'Total Money Makeover'. Go get Dave Ramsey's book by that title. First thing to do is Keep paying the Minimum monthly payment. Even if you eat nothing but 'Beans and Rice' for dinner and Peanut butter sandwiches for lunch everyday. Second thing is to call them and tell them that they need to lower your interest rate immediately or you will switch the balance to another card. IF they dont lower the rate ALOT switch the balance to another card. I just got 0% for a year from Discover. Once the emergency is passed, get your head on straight, get on a budget and get this mess cleaned up. Get a second and third job if you have to. You can get through this but it will take alot of work! Go get that book! U can also download his shows in a podcast for free from www.daveramsey.com His radio show is dedicated to helping people get through messes just like this. His teachings about money management will help you on your path to being totally DEBT FREE!!! |
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Shawn S
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Report you to the credit bureau which is a scar on your record.Remember this is unsecured debt,they can't take any thing from you.Eventually it will result in what they call a charge off. |
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mark w
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They can send the money to a collection agency, take you to court, and that can effect your credit rating. Try talking to them and come up with a deal, remember they want the money back in the easiest way so if they can get you to pay without taking action they will. |
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hanoz_v
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This is from my personal experience. IF you completely stop paying then they will send a notice to you to start paying up, even though u decide not too, then ur name will go in bad credit for the next 5 years which will stop u from taking any new loans, credit-cards or mortgages ... so please dont stuff it all up. Pay slowly, but surely. Ask them to stop ur credit card, so that u dont use it any more and arrange for a monthy repayment plan |
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kent299
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find you after 2-3 month at ur billing address |
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