Archive for April, 2010

I have close to 20k of unsecured credit card debt from different creditors. Some of them have been willing to cut the balance in half in order to settle the account. Should I attempt to individually settle with them? Or do I take out a consolidation loan for 20k?

I am doing a project for economics and my subject is how credit card debt affects the economy and I need some solutions to help solve it

Does anyone know how good is Consumer Credit Counseling Service??? I have a credit card debt of 10000 so I called them and they told me, they will charge me 35 usd one time fee, after that they will settle a low interest rate and low monthly payments for me and they will charge me 7.5% of the monthly payment being sent to my debtors until everything is paid off.. Does anyone know how good is Consumer Credit Counseling Service??? any opinions out there???..I need help since my cards are already 8 months past due..

i heard people settling their credit card debt for almost half the balance and the rest was forgiven. and this was directly with their bank. not a third party. how can i do that? how can i convince bank of america to allow me to pay a portion of my 0 balance and have the debt settled on my student visa credit card? this would help greatly when apply for loans.

I have a friend in FL that is filing bankruptcy. I thought they passes a law a few years ago that stated you could not include credit card debt in bk. Is that true? They are telling me that you can include credit card debt.

how long will this afect the credit score when using a credit card company to pay credit card debt

I have the opportunity to get a ,000 consolidation loan to pay off all my cards (,000) but I’m not sure that’s a good idea. I would like to raise my credit score to make a major purchase.

friend i have a hdfc and sbi credit card , in order to manage my debt i wnat to consolidate both cards onto one low-interest card , is it possible? if so how? pls guide.

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

I am doing a project for economics and my subject is how credit card debt affects the economy and I need some solutions to help solve it

I have a thought regarding the stimulus plan; however, I wanted to ask what problems could occur if such a plan were to be implemented.

The average credit card debt of the American household is ,000.00 with two adults per household. This calculates as roughly ,000.00 of credit card debt per American adult.

Assuming that everyone in the USA has this debt (children will be included to show effect) we have 300 million people that owe ,000.00. This calculates as .2 trillion.

Banks and the car industry were given 2.5 trillion dollars. The banks own most of credit card debt(Visa/MasterCard).

What would happen to the economy if the bailout paid credit card debt for VISA and MasterCard (because the banks are licensed networks) of the American people?

The banks would get money (which they are in need of getting) and the American public would not be spending money on interest but putting money back into the economy with purchases.

What would be a negative outcome of spending .2 trillion to pay debt (loans and credit cards) instead of .5 trillion directly to banks and GM?

I have a substantial amount of money in my retirement plan and pension. Is there any way to use that money to payoff my current credit card debt, student loans, or car loans without being hit with the huge early withdrawal penalty?

I am not interested in debt settlement companies. Is there any help out there for me ?
Perhaps I should be a little clearer regarding what it is I need. I am not interested in debt settlement companies or fraudulent lenders whose only means of contact is an email address. I am aware that with my low score I cannott qualify for a loan so I do not wish to receive answers from people who are soliciting "victims" for their fraudulent loan scams.

i have 1,200 of credit card debt…around 35,000 in student loans…its so stressful…i just enlisted in the USAF, and they are paying 10,000 of my student loans off