I was able to get one credit card a while back soon thereafter filing and kept paying off the balance each month. Recently put on permanent disability so my income is set and very limited so I can only pay X amount each month and now have found myself at the cards limit beacause the interest rate is so astronomical that any payments I make only about goes to prinicipal. I’ve applied for other cards that offer 0% for a year hoping to be able to transfer my balance so the payments might actually make a dent. Unfortunately every application has come back denied due to (1) insufficient income and (2) filed bankruptcy in 2000. This sucks and I feel totally screwed and stuck, any feasible ideas would be much appreciated.

Technorati Tags: bankruptcy, cards, credit card, disability, feasible ideas, interest rate

I have been trying to eliminate my credit card debt. I have managed to pay off 2 cards, I am currently working on a thrid, but I have 3 more with high balances, about 20,000.
My husband wants me to file bankruptcy.
Should I continue with the settlement or look into filing bankruptcy?
Thanks
i am already in a debt settlement, but it is taking longer than expected. my credit is already unhealthy. i wanted to know if i should continue with the settlement or look into bankruptcy.

Technorati Tags: cards, credit card debt, Debt Settlement, filing bankruptcy

I have credit card debt that I have the money to pay off. However, I heard that credit card companies will negotiate a lower amount, say ,000 instead of ,000 in order to get the cards paid in full.

1. Is this true?

2. Does this look bad on your credit report? Or does it even appear?

3. How does this work and how do you go about negotiating with them?

Thanks for your time!

Technorati Tags: cards, credit card companies, credit card debt, credit report, money, thanks for your time

I just got separated from my husband a few months ago and ever since then he has not helped me pay for any of our credit card bills. We owe a little over ,000 and most cards are unfortunately under my name because I had better credit score than him. One of the creditors started raising up the minimum monthly payment over 200% and the APR went up to 34 and I hadn’t even been late on it yet. I have not been able to pay on this particular account for a couple of months now and I’ve been getting letters where they say they can help me lower the APR and what not but first they want me to pay 00 to see IF I qualify. Would it be better to do debt settlement, consolidation or should I keep trying to work w/ the credit card company myself? And what companies would you recommend me using if any at all? Help!

Technorati Tags: cards, consolidation, credit card bills, credit card company, credit score, creditors, Debt Settlement

After all they are always sending credit card offers out and they are not very selective in who they issue cards to. They keep raising the limits and then if you get in a bind they just say oh well and refuse to work with you.

Technorati Tags: bind, cards, credit card

I joined a debt settlement agency in august because i couldn’t keep up with my credit card debt. They took on all but one of my cards. I have gotten notices from VISA and AMEX offering to "opt out" and lower my APR, but this is not helpful, I still don’t have the money to pay. I wrote back telling them this and forwarded it to the company who is supposed to be my POA. They (the debt settlement people) just responded with telling me to continue to do what I’m doing but to date, none of my creditors have settled with them. I’m worried about what to do and don’t want any surprises. Should I just try and file bankruptcy?

Technorati Tags: amex, bankruptcy, cards, credit card debt, creditors, Debt Settlement, money, poa, settlement agency, surprises, visa

I have about 20k in cc debt. is credit card debt settlement a good thing? does it affect your credit score even though the creditors have agreed to accept the settlement? I have a 7k debt with chase. they offered a 5 year balance payment plan at 0% interest. The remainder of my 13k credit card balances are currently up to date. Would it be best to just continue to pay the remaining cards or seek settlement. My objective is to keep my credit score as positive as possible.

Technorati Tags: cards, chase, credit card balances, credit card debt, credit card debt settlement, credit score, creditors, objective, remainder

For Credit Card debt settlement, what happens if one spouse is insolvent, but the other isnt?

I am trying to settle my cards, and know about the insolvency clause. However, if my spouse and I file joint, how would I alone be able to prove insolvency by IRS standards?

Technorati Tags: cards, credit card debt, credit card debt settlement, insolvency, irs

I have been trying to eliminate my credit card debt. I have managed to pay off 2 cards, I am currently working on a thrid, but I have 3 more with high balances, about 20,000.
My husband wants me to file bankruptcy.
Should I continue with the settlement or look into filing bankruptcy?
Thanks

Technorati Tags: cards, credit card debt, filing bankruptcy

I had a couple stores and they went bad with this economy I kept using my cards to be able to keep them open. Now I have no stores and am 65,000 in debt. I got a job now making like 0 a week. If I try to pay them off I think it will take me over hundred years with the money I am making. So is bankruptcy the only thing lefts for me to do?

I dont want it on my record. But It will also be there if I am trying to pay it off forever. What should I do?

Technorati Tags: bankruptcy, cards, economy, hundred years, job, lefts, money

I am about ,000 in credit card debt and have ruled out paying it (actually it’s two cards) off the right way… I know, I know but it’s just not possible!

Would I be better off settling the accounts or just to begin trying to build new credit? I have been told that settling debt doesn’t help your credit score, is that true?

Technorati Tags: cards, credit card debt, credit score, settling debt

I am 20 years old I live in a house with my boyfriend it is in his name but I paid for this house also, I was just wondering if anyone had ways to get a credit card? I went to my bank and asked and they want me to put my own money on a card for like almost 2 years and keep paying it back. I do not have that much money to pay on the card and then pay back constantly. I work in fast food but I do keep my bills paid, was just wondering if theres any good cards out there to apply for like a 300$ credit limit I want to start building my credit. Also My dad filed bankruptcy a year ago and he is starting to re build his credit can he cosign for me still? its so difficult doing it by yourself because my mother has bad credit so I cant have her cosign anything so I’m kind of stuck. And yes I’ve applied and kohls, fingerhut all these small places and got denied. Please any advice would be great! It would help out alot! I dont want a credit card to be immature, I want it for emergencies such as my car breaking down or for gas or bills.

Technorati Tags: bad credit, bankruptcy, cards, credit card, dad, emergencies, fast food, fingerhut, kohls, much money

Probably cant get a loan to pay them off because of my bad credit? My mom has good credit and might help me out though. Still wouldnt even know where to start.

My cards are in horrible standing. At this point they are all closed accounts. They want their money in full (or a settled amount). I have a better job now and I can afford to pay 250 a month towards this.

Any debt consolidation ideas; loan ideas; debt-relief programs??!?!?!

Technorati Tags: bad credit, cards, debt consolidation, debt relief, job, mom, money, relief programs

Because of a significant paycut I am no longer able to pay some of my monthly c/c payments. I opted to sign up with a debt settlement co, that is charging me close to ,000 to clear up my debt. I did some homework and realize that I can do the same thing there doing and save the ,000. My cards have already gone into default. I can save the money I was going to pay them in service fees on a monthly basis and settle my debt in 2 yrs instead of 3 1/2. Has anyone done this? Do you have any suggestions? I also realize the tax implications and have contacted my accountant to get more clarification.

Thanks you in advance.

Technorati Tags: accountant, cards, clarification, Debt Settlement, homework, money, tax implications

I am paying off my cards which are over 5 yrs old, and they’re giving me settlement amnts to pay them off. Most of the balance is late fees, my credit is slowly going up. Am I going to have problems in the future getting credit if they ve seen that even though I paid all my debt, I chose to make a stlmnt amount to close it? Anyone in similar boat?

Technorati Tags: cards, late fees

Has anyone ever gone bankruptcy? If so, what was it like? Did it completely destroy you financially.? Or were you able to tough it out and survive? I wanted to be able to buy a house in the near future, but my credit is totally screwed due to my recent separation (divorce pending) from my ex.

I have over ,000 in student loans, over ,000 in medical bills, a ,000 consollidation loan, an ,000 car loan, a 00 car loan (it will be mine in June of 2009), over ,000 in credit card bills. Not to mention that I am over the limit on all the cards. I have not been able to pay bills like I should because my husband left me and now I have to take care of 2 small children (22 months, 7 months), daycare and all the expenses at home–rent, lights, gas, cable, insurance, car payments, etc.

There is no way I can get another job. My school district doesn’t allow us to work more than 12 hours on a second job and we can’t work past 10p.m. on a school night. I am a teacher in MS and make only ,000 a year…that’s a good salary, but my debt exceeds my salary.

So should I file bankruptcy???
Yes I have a discover card and a sears card .
No teachers don’t make much but are required to work miracles. I am thinking of changing professions.

Intellectual cupcake, thanks for the help, but I live in MS. That is a long way from San Diego…I wish I lived there!

Technorati Tags: 10p, 7 months, car loan, car payments, cards, credit card bills, daycare, divorce, insurance, insurance car, medical bills, miracles, professions, salary, san diego, sears card, second job, should i file bankruptcy, student loans

I am trying to decide if i should just try to pay off my cards in full, or settle for a lower amount. But I am trying to get my score higher, so settling for a lower amount would show up at "settled" on my credit report and have a negative impact on my score.

So is it possible to settle your debt with the agreement of the credit card companie reporting that the debt was "paid in full" instead of "settlement" ???
"People with your thinking are what is driving this country into the ground. Oh I have too much debt, let me just walk away or try and "settle" the debt for half of what I borrowed.
Pay the debts off and keep your credit score and your character in tact. People like me are tired of paying higher prices and interest rates for idiots like you.
I know the truth hurts, but you need to hear it. I just hope it sinks in."

Yes I am the idiot….because I lost both my parents while I was in college and was left to fend for myself. I paid them what I could and my balances never went down. Credit card companies are criminals i"m my opinion and "driving" this country down, they feed off the poor. You Randy are the fool, read up and do your homework before calling someone else an idiot. Me not paying my credit card debts has nothing to do with prices being higher and you’re interest rates you clown. Greedy uneducated people like you give American’s a bad name, I hope that sinks in.

Technorati Tags: cards, clown, credit card companies, credit card debts, credit report, credit score, criminals, fool, homework, interest rates, negative impact, parents, tact, truth

I understand there are tons of companies out there who offer debt settlement programs. Some sound alright, others have been extremely annoying – after the only thing I really wanted was a consultation and some help understanding the program to begin with, they would not leave me alone!!! (Must work off commission). Anyway, I thought about negotiating with my credit card companies on my own, and one agreed (almost) to a 50% reduction. Sorry this is getting so long, but anyway!!!… How the heck do I pay that lump sum at once? When negotiating on your own, can you also request that discounted balance to be payable over a certain amount of months? Or should I just go ahead with a debt settlement company so I can make payments over 2 or 3 years? If I had a huge 00 cash wad (like needed for the debt reduced 50%, which is only 2 of my 5 cards) then I probably wouldn’t have such a financial problem. lol But I don’t have that kind of money all at once up front..so any suggestions!?

Technorati Tags: 3 years, cards, consultation, credit card companies, debt settlement programs, heck, lol, lump sum, money, settlement company, wad

I have about 00 in credit card debt (between 4 cards). How do I go about settling with each debtor for a % of the total amount owed on each card. Since it is tax time I just want to get rid of this debt and start fresh. Would settling bring up my credit score any? I need help? What would be the best way rid this debt!!!
I recently lost my job to downsizing.

Technorati Tags: cards, credit card debt, credit score, debtor, downsizing, job, tax time

I had two cards with first premier to charge off. I would like to know if it is possible to do a debt settlement or try to reopen
these accounts. Have anyone had any experiences with first premier? Can you deal with them at this level? I know it would be good to reopen because of the age of the cards and the impact it would have on my fico score. I would like to know if this was possible? Anyone been through this before with FirstPremeir?

Any advice appreciated.

Eddie.

Technorati Tags: cards, Debt Settlement, experiences, fico score, first premier

I am seriously in debt and cannot see myself out of it any other way. I have tried paying it off but with 30% interest on all cards it seem impossible. I do however have student loans that I plan to pay.

Technorati Tags: cards, student loans

Due to permenent disability which occurred 2 years ago I can no longer afford my monthly mortgage. Normally I would just sale my home but my house in Las Vegas is currently about 0,000 up side down and I do not have that kind of cash to make up the difference. I have spoke to the lender (Chase) in length and the only thing that they are offering is temporary solutions so I know that I will have to move. Luckily I have a excellent family support system that will allow me to live within the confines of my limited disability income. but I’m concerned about the mortgage company harassing me for the mortgage deficiency, so should I file bankruptcy now or wait until I’m out and wait for the bank’s deficiency judgement? Please understand that I have always been responsible with my financial responsibilities but I did not choose to get sick, so I’m trying my best to play with the cards that have been dealt to me! Thank You.

Technorati Tags: cards, chase, confines, deficiency judgement, disability income, family support system, financial responsibilities, las vegas, mortgage company, should i file bankruptcy, temporary solutions

We have like 14 cards. We want to keep like four to help us rebuild our credit after we file. Just wondering if we can reaffirm them.

Technorati Tags: cards

I I have three cards which I owe a total of 50K on, I cannot pay them anymore, I wanna see if my aunt will give me 20K to settle. I do not want to go on a payment plan, I just wanna get this shit outta of my life. Can anyone please help me and let me know what the repercussions are as detailed as possible if I do this, I greatly appreciate it.

Technorati Tags: cards, repercussions

Hi every one, hope you all having nice weekend!
I have recently done my credit check for some thing, and i found out how bad my credit score is. I mean when i was teen and few cards were stolen back in 2005, my credit got bad:/ and i didn’t make payments on time. Plus i have one medical bill from 2003 and Fitness center bill.

*So all together my total collection balance on my credit report is ,030.

Which i should pay, and even with bad economy and having less money and more bill, i can try to add this bill to my paycheck too. But i need some help from ya all. If i can get any toll free # to collection dept. Or how do i contact them. I have no record of previous bills or statements. All i have is Credit report from TransUnion.

Any help will be greatly appreciated.

Any website or any help will be great!!

Thank you much in advance.
I did report the cards, that were stolen. They got stolen at Theme park, i was young and frighten cause that never happen to me or someone i knew. The security at the theme park helped looked but nothing. :/ i did called c-card companies the next working day and canceled the cards. There were few purchases made. I paid for couple, i was student at that time, not enough $$ plus i procrastinate too. But now i want to pay it all off to fix my credit.

Technorati Tags: c card, cards, credit check, credit report, credit score, economy, fitness center, medical bill, money, paycheck, theme park

I am confused as to what to do – my husband and I recently reconciled and between the two of us, we have ,000 in unsecured credit card debt. Although he makes very good money, approx. 00 per month, we cannot keep up on all the minimum payments for these cards, let alone trying to pay the principal.

He has a car payment and we own our house (or we will in 27 years anyway – we have not been late on the mortgage as that is our top priority. We also have 4 kids…… should we file? We figure since we have the house and vehicles that we can deal with the bad, bad credit that this will result in but are we forgetting something?

We considered a debt consolidation but we heard this is more often then not a scam and ruins your credit as much as or more then a bankruptcy. Any advice is appreciated ~ thank you.
Unfortunately all the late payments have resulted in a credit rating in the 500’s which is too low to qualify for a re-fi.

Technorati Tags: bad credit, bankruptcy, car payment, cards, credit card debt, credit rating, debt consolidation, fi, late payments, minimum payments, money, mortgage, top priority, unsecured credit card

I am 26 years old and over ,000 in debt. About ,500 of it is in credit card debt, 00 in car loans, and 00 is in a lien for an accident I caused. There is another 0 in miscellaneous debt. I am married with two small children. My husband and I have a monthly gross income of about 00. In about a year, I will be needing a student loan for my last bit of college. We do not own a house, but we do own one car (the other we are paying off). We would, in about three or four years, ideally, like to try and get a house. Should i file bankruptcy now? What would I lose, if anything? The two cars we have are 6 and seven years old. I appreciate any advice.
I have not used any cards in a great while. I really do not see putting off college any longer, plus with my degree I will be able to earn a considerable amount more that i do at this time. As for asking creditors to lower the rate I would definately consider that. Is it really that easy–just call the company and explain that i want to pay the debt off? What about the lien–can I do anything there? Thank you again.

Technorati Tags: car loans, cards, credit card debt, creditors, gross income, one car, seven years, should i file bankruptcy, student loan, two cars

I’ve been reading a lot about this because I’ve been trying to figure out how to go about settling my debt for much less with all my credit card companies and then just paying them off in full with the amount that’s left after the settlement (they are all in collections and have been for months). What I didn’t know until I started researching this, was that in some cases you do have to report this as income on your tax return. I definitely DON’T want to have to do that. So, two questions. One, what are the guidelines for being eligible to NOT have to report it? And how could I be 100% sure that I won’t have to fill out a 1099? Who would I talk to professionally about this before I decide to pay the debts off, and would I have to pay for their services? I need to do something about these cards soon, whether it’s pay them off or make a payment. Second, if for some reason I would have to report it on my tax return because I wasn’t eligible for not having to report it, is there anyway I could pay it off in full without negotiating a settlement, but still have them lower it? What I mean is, have them possibly take off all the fees that have accrued over the past several months, but not necessarily cut it down to 30-40%, so that it won’t be a settlement that will have to be reported.. so that the lump sum I pay them will be less than if I had to pay what the bills say are due right now. Also, any tips for negotiating with these people? I’ve never done this, only heard and read of several people who have. What do you say, how do you negotiate, how do you tell them you can "only pay X amount", etc. etc. and if I did settle in the end, how would I go about obtaining that statement that I needed to say from them that it was actually settled and paid in full? Do I make sure I get that before I pay or after?
Okay, also, so regardless of whether they settle it for less than 0 or more than 0, I still have to report it as ‘other income’ on my return? And if the amount I settle for is LESS than 0, I just don’t have to pay any taxes on that?

Technorati Tags: cards, collections, credit card companies, debts, lump sum

I have so much debt. I can pay for my house mortgage and my car payment but it’s my credit card bills that kill. I have been choosing to pay only my mortgage and car bills. What can I do? I know I can’t make payments on my cards without it effecting me being able to pay for my house and car. Can I file for Bankruptcy? I know I made a mistake charging up a storm. If I file for BK I don’t what to lose my home.

Technorati Tags: bankruptcy, bk, car payment, cards, credit card bills, mistake, mortgage

I had a medical problem and couldn’t work for 2 years and really hurt my outstanding credit history. I had a ,000 Visa card debt and a ,000 Mastercard debt. I got on a payment program on both cards, offered to me by the banks. I paid both down to below the limit. The k one re-activated my account and I have continued to pay it down to k. The k account, I missed a payment, was dropped from the program and it has now climbed with late fees and penalties to 10. The bank offered to settle the whole debt by paying 10 (70%) by Sept 15th. Last I checked my FICA was 575 or so.

Here is my question? Will I have a more difficult time getting my credit rating up if I do this 70% settlement by paying 10 by the 15th or would it be better to do the following – pay roughly ,500 asap and then pay the rest off over the next 4 months? My goal is to repair my credit in the shortest time possible. I have about ,500 now and might be able to borrow 10 more but it will hurt.

Technorati Tags: 4 months, asap, banks, card debt, cards, credit history, credit rating, fica, late fees, medical problem, payment program, visa card