I 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.
Posts Tagged ‘Credit Cards’
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.
back pay and debt consolidation?
Monday, March 29th, 2010yes my husband owes back pay in child support. No he isn’t or wasn’t a low life father either. It’s a long storey which I really don’t want to get into. He does pay his child support faithfully. My question is though this. I was put into debt because of my ex. I have two credit cards and 3 utilities on my credit. My husband has back pay child support and a credit card on his. We have been thinking about doing a debt consolidation. I’m in the process of doing research at the moment before making any decissions. My question is, if we do so, can he add his back pay child support on his debt consolidation or not? If we do it also, do we need to do one for each or can we do it jointly? Thanks a head of time..
What is the best solution for credit card debt?
Friday, February 26th, 2010What is the best solution for credit card debt?
I am way in over my head, I have 6 credit cards and I’m over $40,000 in debt. I have tried to take out a loan at the bank to consolidate but i got turned down. I need HELP!
Bankruptcy or Debt Consolidation?
Thursday, February 11th, 2010I’m so dumb dumb dumb. I earn roughly $48,000 a yr I have accrued close to $40,000 in credit card debt, it’s about $800 per month, $1750 for my house, $470 for my car, then all related living expenses. I bring home after taxes: $2,600 per month. I have obviously lived beyond my means. How did it get so bad? I trusted people. I trusted someone for 14yrs, never put him on my credit cards, but did take care of a lot of his expenses/debts. He decided he wanted out that he shouldn’t pay me back. That being said, I’m lost, I’m stressed, and I’m ashamed. I can do debt consolidation, but I’m scared. I heard you pay 3 months to them while they are negotiating your debt w/ the credit card co’s. During that time, you are getting more dings against your credit because they aren’t paying them yet…so you have to pay them too. Afterwards, if they are late on payments…more dings. I have a new boyfriend that gives me a grand a month…but I’m afraid the same thing will happen. Any suggestions?
Debt consolidation vs. debt management?
Thursday, January 7th, 2010What is the difference? What should I go with to help pay off my debt quickly?
Little background – Decent credit (690-710 range). Husband has several credit cards and I don’t know the total debt, I have 1 (with a $1400 balance). To combat the high CC rates, we managed to get a line of credit, with an interest rate of around 16%. We moved some off to that, but have ended up adding a little more debt to the CC (hospital bills and such). We always pay more than minimum on the cards, and the LOC has a base minimum, but we have an auto payment that pays, I think, $50 over minimum.
What’s my best strategy? Trying to stick with it with the LOC, moving things over as the balance gets lower and paying above minimums on the highest interest rate cards, etc…or trying to throw this to a debt management company?
I would really LOVE to find a consolidation loan on my own that’s lower than the LOC rate. I just want to pay this debt back quickly and with the lowest rate possible.
The L.O.C. payment is also adjustable, it changes each month as the balance gets lower, its always a % of the balance remaining, that’s why we tacked on the $50. I can’t really change that to a set amount, though that does allow us some flexibility in moving cards over later on.
Oh and my credit card account is closed, so I cannot negotiate a better rate to pay them off, according to their CS rep. Is this true?
How do I consolidate my credit card debt?
Sunday, December 27th, 2009My wonderful , but obviously money happy boyfriend has accumulated around $13k in credit card debt. He has 4-5 credit cards, one with a balance of $7k. He does not own a house. We tried the bank where he has his truck loan through, but he cannot get a loan because he has no collateral. What can he do now? We want to start moving in the direction of marriage and a family, but not with this looming over us. What is the best way to resolve this issue?
Accredited (small) debt consolidation company?
Sunday, November 8th, 2009I am 25yrs old and I have debt that would be considered small debt but none the less it is still hurting me. I owe 1500 in medical bills, 700 in small loans, 400 in credit cards, 500 in misc. Everything is catching up to me and I need help! I can’t get approved for a credit card and the fee’s esp for the small loans are accumulating. I don’t know what to do, I want to consolidate my debt and pay it all off because I would rather pay a consolidation company one monthly payment, but I heard that some can rip you off. Is there any that would suit my situation and help me? I feel so stressed and the anxiety is unbearable, please help me!
how good does my credit have to be to get credit card debt consolidation?
Saturday, September 26th, 2009If I let my cards slip for a while I don’t know how much they’ve hurt my credit. I need credit card debt consolidation, will they accept me if my credit cards have been beating up my credit a little in the last month or 2?
Do debt consolidation company’s work and what do they do specifically?
Monday, June 29th, 2009$40,000 in debt with 4 credit cards, I have great credit and pay on time. Recently cc’s raised interest from 7.9 to 23% because they said too, much debt ratio. If I use consolidation will that affect credit and do they charge and are they just doing what I could do (like search for other credit cards with lower rates?)
Debt Consolidation?
Wednesday, June 3rd, 2009Hello, if your not behind in any of your credit cards and you just want to do debt consolidation because you have so many…How long does it report on your credit that you are in a debt consolidation program??