Hello,

I owe about 000 on a credit card, but I have never been late or missed a payment. The bank recently changed the minimum payment from 2% to 5% and that will make it hard for me to meet the minimum payment. My credit score is in the low 700’s

I called the bank and complained about it and they said that I have two options:

a) Payment plan with an interest rate af 12% for 60 months; I’m sure I can get a better rate from my local credit union.
b) Settlement, ,000 that can be paid in 2 installments.

I’m very tempted on taking the settlement, but how is it going to affect my credit ranking? I really don’t expect applying for anything in the next few years, but you never know. I know I have to pay taxes on those ,000

Thanks for your input.

Technorati Tags: credit card, credit score, installments, interest rate, minimum payment

I’m 23 bills include BofA credit card which they are taking me to court for..Personal Loans…Medical etc..
Some people say its to little other people say start clean what do you think?
BTW because the debt is so little I was gonna have a paralegal/typist do all the forms for me at 5 im worried when I get a job they are gonna garnish my wages

Technorati Tags: bofa, credit card, job, paralegal, personal loans, wages

All my negative credit is from hospital bills. My car and the only credit card that I have ever had are all in perfect credit.
So is it worth it to file a chapter 7 bankruptcy? The hospital bills total over 0,000.

Technorati Tags: chapter 7 bankruptcy, credit card, hospital bills

I’ve just got a summon yesterday by one of my credit card I have and I was wondering if I can still file Chapter 7? I do have other credit cards and medical bills that need to by paid as well that I haven’t been paying due to not having enough income to make the payment. Any opinions would be greatly appreciated!!
This summon was served in person and the real deal.

Technorati Tags: chapter 7, credit card, credit cards, medical bills, real deal

Is a long story but to cut it short, I can’t get back my money now. I was being setup as boyfriend and gal friend. The girl pretending to be my gal friend told me that she was in financial difficulty and ask me to help her out by swaping my credit card in advance first after which she will pay me back at end of month. She bought herself clothes, shoes & bags which amounted to RM4.5K. It is only through trust and verbal agreement i agreed to help her out. Later on I found out that she was cheating me of my money. Right now, she refuses to settle her debt and even threaten to file sexual harassment report against me not unless I cancel off her debt. I thought of taking this to small claims court but then I was told that if I do not have any written agreement to support my claim it will be of no use. I do have recording evidence but was told it cannot be accepted as an evidence. Has anyone come across this situation before? I do not know what to do now. *sigh* Any advise is welcomed.
The person who passed me the small claims forms told me that recording evidence cannot be accepted. I will check further on the law in my country.
My legal advisor told me that audio or video cannot be used as evidence in court as the contents can be manipulated.

Technorati Tags: amp, clothes, credit card, evidence in court, financial difficulty, gal friend, money, sexual harassment, shoes, small claims court, small claims forms, verbal agreement

Hello,

I have had a credit card for nearly three years, and have always paid the balance in full every month. However, a few months ago, I got sick and lost my job, etc. and to make a long story short, I lived off of my credit card and can’t afford to pay the balance off in full. My question is, is it possible to keep my line of credit open and somehow settle the debt for less than the balance (i.e., pay 0 to wipe out the 00 debt)? I want to take my balance down to zero, but there’s just no way I can afford to do that right now, but I need to use my card until next semester starts.

Technorati Tags: credit card, job, line of credit

My husband had a credit card with Keybank that went over the 0 dollar limit. Before we knew it there was already 0 in interest tacked onto the balance. We tried to set up lower payment arrangements they said no. We started paying 0 for about 3 months, we just wanted the debt gone. When we got our statement back the balance hardly moved. We were told that was because a majority of interest was being taken off do to being over the limit. So we stopped paying. Now it’s been quite awhile and the card has been sent from collections to a Law firm. They now say the 0 balance is 91 do to extra interest. We wrote back appealing the balance and said we know, from our last statement received from Keybank, that the balance we owe is 0. We said we could pay no more than 0 a month with no extra interest tacked on. We sent a copy to the judge. The law firm sent back saying they will allow 5 a month on the 91 balance with 24% APR. Can they do this? What should/can we do?
Thanks for all your responses. I believe it has actually gone to the judge. I completely understand this is our fault and we have to pay the debt. My questions is how is it possible for them to keep tacking on interest when it’s a closed account. The account was closed at 0 and sent to collections. While in collections they added on an additional 1. We really tried working with them but they wouldn’t take payments. It was either all or nothing. I don’t understand also why the law firm would want to tack on so much interest. OBVIOUSLY we don’t have alot of money that’s why we stopped paying in the first place. We tried reasoning with them so how do they think it’s right to ask for quadruple what the original debt is? I think it’s wrong for companies to tack on so much interest and aren’t willing to try and work with you.
Also we have been only discussing the matter with them through mail. We have copies of everything and have also forwarded every letter we wrote to the judge. I am more than willing to pay the 0 but I think it’s rediculous to pay what they are asking. By the end that 0 credit card will turn into a 00 when we finish paying it off with all the additional interest.
To those of you who feel like making me feel worse than I already do about this.. believe me I know it’s our debt and it’s our fault. If I could go back and just say no to the card offer I would, but I can’t. I have to deal with the situation at hand. We have actually paid off 4 of our 5 credit cards we had together. This is the last one. The other companies were so nice and really helped us pay them off. This one hasn’t been helpful at all. I am not looking for sympathy I am looking for help. If there is anyone who has been in this situation and knows how to at least minimize the damage I am looking for your input.

Technorati Tags: collections, credit card, dollar limit, keybank, mail, money, payment arrangements, rediculous

This debt is for a credit card that I have had for 22 years. Prior to now I have always paid off my balance each month in full.

Last September I was in a terrible car accident, I was in the hospital for over one month, and have since had 4 reconstruction surgeries on my legs. I lost my job, and my husband barely makes enough to pay our mortgage and keep the utilities paid each month. We had to use the card to pay for some of my doctor visits, medicine, groceries, etc now the card had about 00.00 on it. My doctor says that I will probably never be able to work again due to the extent of my injuries, and I should file for SSR. We have been unable to make any payments on this card.

Yesterday I received a notice from the CC company wanting to settle the debt. Has anyone ever settled a debt? How should I proceed? Will the CC company want a lump sum, or will they take a minimum payment each month. Honestly I do not want our credit ruined, as we had perfect credit, but I would only be able to make a very small monthly payment, does anyone know if they will accept the payment?

Technorati Tags: 22 years, car accident, cc company, credit card, doctor visits, extent, groceries, job, last september, legs, lump sum, medicine, minimum payment, mortgage, reconstruction surgeries

I want to settle my credit card so I have a idea to get loan on my house. Is it good idea to settle down the previous debt.

Technorati Tags: credit card

I had a credit card that was sent to collection agency in 2004 for 5000. Today i got a call from eastern collection agency and they said that charge for the card was 10,000 dollars because of interest. They offered a settlement of 5,000 but they want the money upfront. i explained i only can pay 2500 up front but they said they we going to take me to court if i could not pay the full 5,000.. What should i do? What are my options?

Technorati Tags: credit card, money

I want to settle my credit card so I have a idea to get loan on my house. Is it good idea to settle down the previous debt.

Technorati Tags: credit card

My brother is going to file bankruptcy next week. On one of his credit report there is an account that is MINE. How did it get there, i dont even have him as authorized user. (FYI we have same address, same last name). Experts tell me me not to worry about doing anything because when the court calls the creditor, (citibank) they wouldn’t have a record of having a credit card with them. I just wanted to get some comments here. Good Day

Technorati Tags: bankruptcy, brother, citibank, credit card, credit report, creditor

The original debt was ,000… Everything I read and know is that companies are usually unwilling to settle a Judgment, but if I file bankruptcy they get nothing. Do you think given the current state of the economy and the pending credit card restrictions that they would be more willing to settle?

Technorati Tags: bankruptcy, credit card, current state, economy, judgment

I am going to file chapter 7 bankruptcy in Maryland and I have a joint credit card between myself and my son. What I would like to do is keep the credit card so I still have something for emergencies after I file bankruptcy. Do I have to list the joint account when filing bankruptcy? Because I would like to keep it open and keep making the payments as usual, and if I did list it could that effect my sons credit, even if he makes the payments, since he is joint on the account?

Technorati Tags: chapter 7 bankruptcy, credit card, emergencies, filing bankruptcy

I have a debt on one credit card (my first) and was thinking about seeking the assistance of a debt settlement agency. Is this a good idea? Which company is most trustworthy? How can you tell which company to trust?

Thanks!

Technorati Tags: credit card, Debt Settlement, settlement agency

I am going to file chapter 7 bankruptcy in Maryland and I have a joint credit card between myself and my son. What I would like to do is keep the credit card so I still have something for emergencies after I file bankruptcy. Do I have to list the joint account when filing bankruptcy? Because I would like to keep it open and keep making the payments as usual, and if I did list it could that effect my sons credit, even if he makes the payments, since he is joint on the account?

Technorati Tags: chapter 7 bankruptcy, credit card, emergencies, filing bankruptcy

I owe WAMU about 00 dollars for my credit card…. I rececived a call from a company trying to get me to pay a 00 as a settlement for WAMU ..i don’t know what to do …how would this effect my credit .

Technorati Tags: credit card, wamu

If I file bankruptcy on a credit card in my name, will it affect my spouse in any way? And if I file bankruptcy do I still have to pay anything?

Technorati Tags: bankruptcy, credit card

I have a terminal disease and I have some debt that I am never going to be able to get a hold of. I am going to have to file bankruptcy. I am bed ridden right now. I need to get some advice on some questions I have. Can anyone help me?

I am married and our house is in my wife and my fathers name, not mine. All the debt, medical and Credit card are all in my name and nobody else. So I will file bankruptcy myself. I have no assets, no job, nothing like that. I actually have less than 10 debtors. I cannot afford an attorney because my wife works to care for me and our three boys and she makes 10.00 an hour. Has anyone used the on line bankruptcy paper filing services at all? Is this something that can be done? Is it hard? any advice would be appreciated. I really need some help. Thanks

Technorati Tags: assets, bankruptcy, credit card, debtors, fathers name, job, paper filing, terminal disease

my dad and i have a credit card i was just an added card…but then removed me from the card and closed it, he is still paying it off… i would like to be able to add that to my credit once more and file or do something….any other options ideas… i dont have too much debt its under 7grand but i am disabled and waiting on my trial. thanks
i just added it up and its a bit over 12 grand… but yea i guess ill just wait on my settlement thanks

Technorati Tags: credit card, dad

I have over ,000. on one credit card. It wasnt so bad until they skyrocketed my interest rate to 23% then, it became impossible to pay. I havn’t paid it in over 4 months, and the calls wont stop. What can I do to get this problem off my back? Any websites that are recommended?

Technorati Tags: 4 months, credit card, interest rate

I am 25 and want to be debt free. I have over ten thousand in debt. I want to start settling with debt collectors. It been about 5 years since i paid a dime. I want to buy a house in 15 months.What steps should I need to take to be debt free.What should or Shouldn’t i do when talking to collectors. I know i am suppose to get a written agreement saying the acct# and how much I settle for.In the letter can I state that they would contact the bureaus and state of paid in full. How long does it take for credit score to fo up and how long take to fall off. Any other advice will help me.. When I settle with a collections does hurt credit card score.

Technorati Tags: 15 months, acct, collections, credit card, credit score, debt collectors, ten thousand

i have a credit card that i got behind on, now its been 2 years and a lawyer has contacted me t find out if i want to settle out of court or get sued. i tried debt consolidation but can’t afford the payments with them and they recommended i file chapter 7.

Technorati Tags: chapter 7, credit card, debt consolidation, lawyer

I owe .000 dollars to two different private lenders. Times are tough at the moment were I had not been able to get a job. I had been searching for a job for the last 2 years and have not gotten any results yet. Moreover, the lender have send my case to collections. The collections people at least, calls me twice a day demanding their pay. I try talking to them to reason, but they just keep calling and calling.

Honestly, for the last year I had not been able to have a decent sleep. I am only 28 years old but I looked 50. Im getting gray hair, and my eyes are tired.
I am embarrass to say it, but I do not know how to use a credit card.
I had never had credit cards or rely on any other type of credit except my bank debit card. I do not owe a house, nor I have plan to buy one soon. I just want to start from zero. The pressure is grater now, hence lately I had been thinking of suicide as the last alternative. Almost all my family knnows about my debts, and they see me as a loser. I do not want to feel like that. I come from a background where we do not rely on therapist for our problems, or any type of sitiuatios, we just deal with them.
I know credit card is our a mayor benefactor for the individual, but at my 28 I had never had the use for it and yet, I had travel to Europe and the Americas.
What should I do? I am tired, sad, and been having this morbid ideas of ending my problems.
Any help would be grateful.

Technorati Tags: 28 years, bank debit card, benefactor, collections, credit card, credit cards, debts, europe, gray hair, loser, private lenders, searching for a job, sleep, thinking of suicide

My husband and I recently purchased a house. Right before our purchase we found out about a delinquent credit card. To make a long story short, it was a credit card that was in my husband’s name that he was to use when he was in college that his mom was supposed to be paying for. My husband had no idea that there was a delinquency until we were notified by our lender. The account has been closed since 2002. It states on his credit report that the "account closed at consumers request, charged off account, bad debt; placed for collections; skip." We do not want to bother his Mom about this. After no communication with Discover, for 5 years, we have now received a letter from Northstar Location Services, a collection agency (not from Discover), for a settlement amount which is 40% of the debt. What should we do, contact Discover, deal with the collection agency, or something else? I realize everything needs to be in writing beforehand, but can anyone advise me on this at all?
I will check out your other posts, Studly, thanks…as far as my concern with it, it is mainly because of the recent contact with the collection agency now after so many years. We were still able to get the loan for our house, so I am not really concerned about that part of it. Since it "technically" wasn’t our debt, but my mother in law’s, the bank didn’t really care. Actually the amount was pretty significant, 00 with an offered settlement of 00, which is why I’m extremely surprised that we were not contacted before about this. I believe the statute of limitation on credit cards is 3 years in our state. I know they can still take us to court over it but its probably unlikely since the statute of limitations has run out. I just don’t want to settle on an amount and still have it show up on our credit history for another 7 years. I think this just may be a last ditch effort by the collection agency to get some money and I just want to make sure we make the right decision.

Technorati Tags: 3 years, bad debt, collections, consumers, credit card, credit cards, credit history, credit report, delinquency, delinquent credit, last ditch effort, location services, mom, money, mother in law, right decision, statute of limitation, statute of limitations

I have several accounts on my credit that are all in good standing. I just have one credit card with ,000 in debt. I was making payments on it but when my husband was laid off, I couldn’t make payments. It’s over 90 days due and I want to settle the debt but I am afraid of how it will affect my credit score and what I can do to make sure it is not too negative on my credit. Any advice?

Technorati Tags: credit card, credit score

About 3 years ago my life turned upside down, I had clinical depresion, lost my job and quit school. I did not care about the world, about six months ago I had major surgery and now I owe about ,000 in medical bills, I have a ,000 credit card judgment on my credit. I need a fresh start. How do I file bankruptcy? I don’t own anything, not home or car. What can I do? Please help me.

Technorati Tags: 3 years, bankruptcy, clinical depresion, credit card, fresh start, job, judgment, life turned upside down, major surgery, medical bills, six months

I want to file Chapter 7 to totally get rid of my debt. The only problem is my spouse doesn’t agree with this, so I would have to file by myself. I have 5 credit cards in my maiden name and 1 credit card in my married name. My medical bills are in my married name. As far as my assets, my name is on the house but not on the mortgage. My name is also on the two cars that we own.

Can I file Chapter 7 bankruptcy without the cars and the house being affected? If I can’t file by myself then what else can I do?

Technorati Tags: assets, chapter 7 bankruptcy, credit card, credit cards, maiden name, medical bills, mortgage, two cars

I have a credit card that I owe about 00 on and I am past due. I am expecting to receive some money and would like to make an offer to pay it off. How much should I offer? Also, I wish to request that they report it to the credit bureaus as paid, what wording do I use?

Technorati Tags: credit bureaus, credit card, money

A friend of mine just informed me that he owes the IRS ,000-he doesn’t want to sell his house, neither can he take out a loan or put this amount on a credit card. He could refinance, but since he is already in his 50s this may not make any sense. He did say he talked to an IRS representative, but the payment, were he to get on an installment plan, would be very high. Are there any alternatives to bankruptcy?

Technorati Tags: 50s, alternatives to bankruptcy, credit card, installment plan, irs representative