My family and I had an unplaned birth, and our now overwhelmed with medical expenses and the new expenses from the child. Since we did not have health insurance we became overwhelmed with bills. Over the last couple of years we have fallen progressively farther behind on our credit card bills. We have not made a payment on some of the cards in over nine month. Utlimately, besides lowering our credit score, is the consequences of not paying the cards. Can the creditors take our vehicles? Take money from our bank accounts? Garrnish our wages? We are very worried about our debt and would like to pay the debt off, yet feel very intimidated by the whole process. Thanks for any help
Archive for the ‘Credit Card Debt’ Category
what are the consequences of not paying off credit card debt?
Friday, April 23rd, 2010My family and I had an unplaned birth, and our now overwhelmed with medical expenses and the new expenses from the child. Since we did not have health insurance we became overwhelmed with bills. Over the last couple of years we have fallen progressively farther behind on our credit card bills. We have not made a payment on some of the cards in over nine month. Utlimately, besides lowering our credit score, is the consequences of not paying the cards. Can the creditors take our vehicles? Take money from our bank accounts? Garrnish our wages? We are very worried about our debt and would like to pay the debt off, yet feel very intimidated by the whole process. Thanks for any help
Is there a way for credit card companies to forgive a portion of credit card debt?
Wednesday, April 21st, 2010Getting rid of debt is a priority in my family. We”ve been regular with our credit card payments. A word to you younger folks: never, ever use a credit card for anything.
I was curious if there was a way for credit card companies to forgive a portion of debt if you’ve been regular with your payments.
Why do so many people keep going into credit card debt?
Sunday, April 18th, 2010Question? What makes people keep using them when they see the destruction it is causing?
Many people, mostly younger folks and women, have so many credit cards they end up in severe debt and ruin their credit for many years to come. Credit card applications are mailed out by the tons and people keep activating them knowing the interest rate is or will be up to 20% or higher. Everyone needs at least one credit card and no more than two. You also need one revolving (department store) credit card to establish a good credit history. The limit on the credit card(s) should be no more than 10% of your annual salary and the revolving card half that. Always make a minimum of a double payment on all your credit cards and pay on the due date. Never ever be even one day late. The interest rate and late fees will destroy you. If you are experiencing problems the first thing you need to do is carefully cut the cards up and throw them away. If you can not afford to pay the total monthly bill attempt to get a consolidation loan to get out of debt. The monthly payment will be less than the total monthly payment of all your cards with a much lower rate. Some banks and credit unions will be willing to help you out if they know why you are taking out the loan. Financial debt can create so much strain it can even destroy your peace of mind and your marriage. Don’t fall into that trap.
How to get out of credit card debt if you have to rely on them to make ends meet every month?
Thursday, April 15th, 2010Say you earn 1000 and have to pay 1050 for your credit card debt. You have to rely on your credit cards ( again ) for those extra 50 and for your monthly expenses.
What should a person with this problem do?
Would it be ok to take a loan?
Finance gurus like David Bach say to pay the highest rate card first, but what should you do if you can’t?
Thanks ¡¡¡¡
How can i combine my credit card debt and my cost of tuition into one loan?
Tuesday, April 13th, 2010In august i will be going away to school. the cost of tuition is around 17,000 a year. at the same time i have about 4,000 dollars in credit card debt. is there any way i can payoff my credit card debt by adding it to my student loans? and how do i go about getting a student loan?
What are the effects of credit card debt?
Thursday, April 8th, 2010Im doing a report on Credit Card Debt and there isnt much about the direct effects of being in credit card debt.
I know bankruptcy is an effect but what else can happen?
Does credit card debt go away after a certain number of years?
Monday, April 5th, 2010I have question that might sound silly, but i just heard from my brother that you can max out your credit cards and not pay the bills and leave the country and if you leave the country for 7 years your credit card debt gets erased. (we are currently living in Greece) I find this hard to beleive has anyone ever heard of this and is it true. I personally think that the companies can hunt you down and take over everything you own.
How much credit card debt do you have as a couple with one child?
Saturday, April 3rd, 2010Just wondering what the average is. My husband tells me everyone has debt, and I can understand my house and my car, but what is your credit card debt?
Who is responsible for credit card debt if somebody dies? Or does the company eat it?
Monday, March 22nd, 2010Say somebody has X amount of credit card debt, then they die but still have that debt to the credit card company outstanding, what happens? Does the company have to write it off as bad debt or ? Perhaps the company can hit up that person’s estate. But let me pose another question then – what if that person’s estate does not have enough money to cover that credit card debt.
I’m being sued, I have the money to pay off a credit card debt, who should I make the payment to?
Tuesday, March 2nd, 2010A relative is going to loan me the money I need to pay off my credit debt. I’m suppose to file my appearance in court on Tues.
Should I call and make arrangements to send the payment in to the credit card company or the collection agency?
Do you think they will dismiss the lawsuit?