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 made some bad choices in the past regarding my use of credit cards and have spent the last few years making it better. This includes settling my outstanding balances on the credit cards that I had defaulted on (it’s only fair to pay back what I owe, in some capacity, right?).

Today I received a very pushy call from Creditors Interchange telling me I owed several hundred dollars for a credit card that I payed off through settlement last year. I was calm and checked my paperwork while on the phone and sure enough, I have records of the settlement.

The unpleasant man on the phone informed me that I owed monetary payment on the interest rate (and threw out a 20% rate) that had accrued on the debt. I informed him that I had already settled the debt, but he seemed adamant about what I owe and threatened me on the possibilities of ruining my credit score and kept insisting on bank account/credit card payment information. I refused.

Thoughts?

My impression is that settling a debt effectively closes the door on future amounts that I may owe in the future for the card? In a sense, double jeopardy?

Technorati Tags: choices, credit card payment, credit cards, credit score, creditors interchange, double jeopardy, interest rate, jeopardy, monetary payment, paperwork, possibilities, unpleasant man

I have just been notified that a credit card that I was working with has been charged off and it has been placed with an agency to file suit. They are saying they will garnish wages, freeze accounts and attach a judgement to my property. My employer says that my wages can not be garnished, but what about my account. I was honestly trying to make arrangements with Chase, we had a loss of income and things were very tight for a while. If they attach a judgement what does that mean? Will I have to go to court over this? They are willing to settle for 749 if I can come up with it today!! They just called me yesterday. I do owe this debt and am willing to pay, but they are unwilling to work with me any longer. If I file bankruptcy will that stop the judgement and garnishments? I am not behind with my other creditors and even will be paying 3 off this month. The payments were manageable until my interest rate was increased because of a payment 4 days late and my payments doubled to 4.

Technorati Tags: bankruptcy, chase, credit card, creditors, interest rate, judgement, wages

I am a full-time college student with income of about 00 per month. I am 22. I was in between jobs a few months ago and during that time went more than 30 days late on all of my credit cards. Since then, my interest rate has went to 32%. I missed payments again last month and now my minimum payment on one card alone is 473 dollars. I don’t make enough money to get it caught back up, and they are unwilling to help me. I don’t know what to do. I hate to file for bankruptcy at age 22.
I owe about 13,000.

Technorati Tags: bankruptcy, credit cards, full time, interest rate, jobs, minimum payment, time college student

I am 22 years old and have ,000 worth of credit card debt and ,000 in student loans that I have to start paying off in 2 months. I talked with a credit counselor and asked him his opinion whether or not I should do the program or declare bankruptcy. He could not give me a specific answer, but he was leaning towards bankruptcy.

I just graduated college and have a job making very little money and paying off the debt is going to take me over 10 years because my monthly payment (with the credit counselor) is very high. I know even if I continue with the credit counseling, it will still hurt my credit.

My parents declared bankruptcy 5 years ago and had no problems getting a new car and built a brand new house with an average interest rate. I know some employers look at credit reports, but credit counseling will affect that anyway. I just want to start over and need some advice. I appreciate it!!

Technorati Tags: 10 years, 22 years, bankruptcy, credit card debt, credit counseling, credit counselor, credit reports, interest rate, job, money, new car, parents, student loans

I have about 10,000 – 12,000 dollars in debt. Mostly credit card debt. I dont have anything I’d lose if I did file except a washer.

I am being screwed over by credit card companies so I can never get my debt paid off. They keep changing minimum due dates on me and charge me late fees if I pay my bill a day early or one day late.

Their also uping my interest rate everytime I pay my bill late. I cannot get around that either as they keep changing due dates on me.

I really dont want to lose my washer. This concerns me if I file bankruptcy.

Furthermore, will this affect my future wife and us possibly getting a home?
Please do not judge me its not my fault I ended up in this mess. My debt would be gone if these credit card comopanies did not screw me over like they have. I would have this all paid off by now.

Technorati Tags: bankruptcy, credit card companies, credit card debt, due dates, interest rate, late fees

My daughter bought a house with her fiance in 05′ (in California) they have a first and a second. The second is fixed but the first is a variable and the interest rate is doubling. They put no money down and the first was an interest only loan, therefore there is no equity and the house has declined significantly in value due to the market. Also, she has ,000 in credit card debt. I am thinking they just might be better off if she files for bankruptcy at this point (yes she has learned her lesson) and perhaps in the future they can purchase another home maybe even sooner since he has pretty good credit, housing prices are a lot lower and he could qualify for a loan.

Technorati Tags: bankruptcy, credit card debt, fiance, interest only loan, interest rate, money

Ok,I’m 25 and I just got a 04 Pontiac Grand Prix with 112,109 miles on it,for ,000 but got slammed with a 21% interest rate. I tried before hand to get a lender/bank/credit union going in but No one would fiance me because I have 540 credit score. I had to take the deal because the truck I had was a gas hog and was falling apart and I need a way to get to work, so I sold that to get the down payment for the Pontiac.Here the issue,I have had it for 3 months and I have no problem paying the car note(1-a month) but when the economy shot 2 year ago and my job gave pick slips to me and hundred of people,unfortunately I had lost my home and voluntary returned a 02 Monte Carlo to the bank.As you may know now I have a for-closer and an repossession on my credit which is the reason for the low score. I currently have had a job now for the past two years so I making it even tho it get ruff at times with other things like college and apartment bills. I cant find any lender on the net to refinance a car with that many miles and it doest help that my credit score is so low. I was told that since I’m still young I should file bankruptcy to clear my dept and start over now. The only issue I have is I want to keep the car I just got but is there a way in the bankruptcy that I can keep the car and get the lender/bank to lower the interest rate so I can keep it?Or do I have to give it back or keep it out of the filing altogether? I’m a perfect example of bad thing happening to good people because I held a job all life and payed bills on time but you know what the say "sh** happens" Please provide me with some good meaningful advice .on what the best possible decision Thanks!!!

Technorati Tags: apartment, bankruptcy, credit score, economy, fiance, gas hog, interest rate, job, meaningful advice, monte carlo, payed, pontiac, pontiac grand prix, repossession, slips, tho

Wondered if it would make any difference with credit-rating if bank repossesses car after a chapter 7. This can be in exempt, however, the interest rate is phenomenal and it if valued at ,000… A friend has paying on a 15,000 loan, and they say that more than ,000 is owed after a year of paying 0.00 a month.

Technorati Tags: chapter 7, credit rating, interest rate

We are about to pay off the balance on our Chapter 13 bankruptcy plan. At some point after our discharge is granted we want to buy a new car. We are planning on putting like 40% down. We have a good credit history with past car loans and can now comfortably afford a large car payment if we were approved. Has anyone out there been through this and/or knows if it’s difficult to get approved for a car loan after a Chapter 13? What kind of interest rate can we expect if we are approved?

Technorati Tags: car loan, car loans, car payment, chapter 13 bankruptcy, credit history, interest rate, new car

K well it happened 2 1/2 years ago and still owe about 1,800 then it’s done and over with.Is there any chance I could still buy a house while I’m in chapter 13 bankruptcy?How much trouble would it be to get a mortgage and how high do you think my interest rate will be?

Technorati Tags: chapter 13 bankruptcy, interest rate, mortgage

I owe a LOT on my credit card bill (my minimum payment is 5/month) and my interest rate is 12%. Please understand that this has taken almost 2 decades to get to this point and it was unintentional. Anyways, I have good credit with a score of 771. I don’t want to ruin that by filing bankruptcy. I am wondering if there is an alternative where I can cancel the card, pay say /mo and not have interest accrue. I will pay til I die if I have to but I cannot afford this anymore. I know you can do something similar with medical bills, so I thought maybe there is something out there for credit card bills. If it helps, I am disabled and receive SSDI, so maybe there is a government program, I don’t know. Thank you for any/all suggestions.
Just some additional thoughts, what would trash my credit worse? Filing bankruptcy or debt settlement of some type as one person mentioned? Also wondering, if I just ceased paying or only paid the very minimum I could, and lets say they end up putting me in collections, etc., and let’s say they sue me for it, could they put a garnish on my monthly SSDI check? I don’t have any assets they could take (savings, house, etc).

Technorati Tags: 2 decades, assets, collections, credit card bill, credit card bills, Debt Settlement, filing bankruptcy, garnish, government program, interest rate, medical bills, minimum payment, score, ssdi

I was able to negoiate and close CCs and set up other credit cards on low 2-3% interest rate 5 year plan…The bank will not negotiate my other K…has anyone ever refused to pay off a credit card & settle with the bank

Technorati Tags: amp, credit card, credit cards, interest rate

I bought a 2008 car last year with an 18 percent interest rate.I have missed paying the car note the last few months.I am trying to decide if I should try and catch up the payments(I do not qualify for a refinancing)or file bankruptcy to get a lower car note,or just give the car back,as soon as I can buy one for cash.I want to buy a house in the next 2 years if at all possible,and I dont know which of these choices would be the least harmful on my credit.

Technorati Tags: bankruptcy, choices, interest rate, refinancing

in filing chapter 13 bankruptcy, are mortage lenders more or less likely to work with you to get a home modification. My home has dropped 90,000 in value and it’s really not worth paying on a 170,000 loan when other houses in my neighborhood are being sold for 80,000 and getting a lower interest rate.

Technorati Tags: chapter 13 bankruptcy, filing chapter 13 bankruptcy, interest rate, mortage lenders, neighborhood

Card company said I could pay the full amount within 5 years with no late charges, and a lower interest rate. It has not gone into collections yet but shows "derogatory" on credit report.
I forgot to mention that I asked them to remove it from my credit report after it’s paid off, but they said they couldn’t since I’m not paying in full but it will say "settled for lower amount". Is that ok?

Technorati Tags: card company, collections, credit report, interest rate

CC company have offered to reduce the tot. amt. by 1/3 and settle or pay the total amount with very low interest rate. Which is better. According to them 2nd option is better( b/c of credit rating ). But 1st option look good to me.
So either i can pay .33 cents for each dollar owed and settle or pay plus 2% interest per dollar owed and pay in full.
1st option will show "settled" for 7-10 years, while with 2nd option my credit rating will not be effected.

Technorati Tags: 10 years, cc company, credit rating, interest rate

I have had my home since 2003 and have a 6.5% interest rate. I have a VA Loan. I would like to free up money if possible to pay for student loans. I have been in Bankruptcy for about 5 years. My chapter 13 just closed.

Should I even try to refi, or would my horrible credit not get me a better rate?

Technorati Tags: bankruptcy, chapter 13, interest rate, money, student loans

I’ve been in Chapter 13 for about three years now, I missed two mortgage payments, and now I have defaulted. I have over ,000 in equity can I refinance for a lower interest rate, about ,000 cash out to make some home improvements, and with whom? What bank takes chances with Chapter 13 refinances?

Technorati Tags: chapter 13, home improvements, interest rate, mortgage payments, refinances

I’ve heard of companies like cureadebt.com that will settle your credit card debts for 70% of the amount owed. I’ve also heard of government grants to pay unsecured debt(credit cards), but I don’t know where to get the info on them. I’m considering a second mortgage to pay these off with a lower interest rate. Thoughts?

We no longer use credit cards, so the balance only increases because of high interest rates.

Technorati Tags: credit card debts, credit cards, debt credit, government grants, high interest rates, interest rate, second mortgage, unsecured debt

What did you owe, and how much did they settle for?

I owe ,600, how much should they settle for with a 22.99% interest rate?

Also, does settling hurt your credit score?

Technorati Tags: credit score, interest rate

I have maxed 2 of my credit card. each at 18% p.a. if i take up a loan at 12% p.a. to settle both credit card & only make 1 repayment towards the loan.. is it worth it? from 1 point of view, its basically creating debts to settle debts. but on the other hand.. it is at a lower interest rate.im confused!

Technorati Tags: amp, credit card, debts, interest rate, point of view

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

Just started chapter 13. Trustee objecting to negative equity in present home. Just looking at moving to a different home or telling the mortgage co. that the trustee is leaning towards returning the home and trying to get them to lower the interest rate. Anyone have an answer?

Technorati Tags: chapter 13 trustee, interest rate, mortgage co, negative equity

In September of 2007 my husband and I bought a toyota celica from a local dealership. We had just purchased our home in August and we didn’t give our credit enough time to go up. Our interest rate was 18.6% and we were told my husband, being in the service, would qualify for the soldiers and saliors act. The dealer knew damn well my husband wouldn’t. The car was reposessed and now we’re stuck with the debt of the vechile for ,941.00 and were told they would settle for 00. Another guy at the toyota dealership agrees that we purchased the car under false pretenses and said if we had to go to court he would testify saying the other salesman was notorious for doing that and say that is what happened. Do you think we should settle or go to court over it. (This was our first car buying experience so no lectures on how we should have gotten stuff in writting)

Technorati Tags: celica, false pretenses, first car, interest rate, toyota, toyota celica, toyota dealership, vechile

I am going to be going through chapter 7 bankruptcy next month (November). My car has 70,000 miles and it is five years, and four months old since I purchased it in 2001 (it had 13 miles when I bought it). If I keep my car for two and a half more years before trading it in, can i get a decent loan after filing for chapter 7 bankruptcy this november? My attorney told me that it wouldn’t hurt me that bad because I get a VA compensation and they can’t garnish my wages. Please help. And if I can get a loan, what kind of interest rate would it be?

Technorati Tags: chapter 7 bankruptcy, four months, interest rate, wages

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

Well, it is ashamed to ask this question but it is true that I’ve been living in this condition for couple years now and it made me so depress because of my personal financial problem. But I am still hoping and trying to find everything I could to recover my credit. I hope I will get some advise from you guys out there to help me start rebuild my financial life again.

Since last 5 years ago the first time I moved to this country I started apply my first credit card with US Bank, I’ve been living so happy with it, I thought it was cool when using credit card, I spent money like a rich kid, and I got a really good credit, then I applied for any other cards from one bank to other banks till I ended up with 5 different credit cards. Then 3 years gone by I couldn’t handle these credit cards, I ran out of control and ended up with a balance of 22K at the age 27 years old now, so still there is a long way to go, if I am keep paying the minimum payment like this I will end up paying those creditors for my whole life. I did try credit card consolidation but it just reduced my interest rate Now at this time I decided to go with debt settlement company in order to get rip of this debt and start a new life, but of cause it gonna take me couple years to settle this 22K debt. Now I m paying the settlement company 0/month for 28 months to settle my debt.

So first of all please ignore my grammars I know you understand what I am talking about, but I am seeking for advise from you guys out there:

1. I can possibly maintain my monthly payment of 0 to 0 toward my debt, so is there any alternative way beside debt settlement and bankruptcy to get rip of this debt? now my credit score gone so bad and there is one collection on my credit already, and soon there will be more as I am enrolling in this debt settlement.

2. I start looking at peer to peer loan and sound like an other option for me as long as I have a co-borrow with a good credit, but I am kind of hesitated and not sure how legitimated it is. Can anyone advise me if I should go with it?

I am making 90K from my job but I am still living in this horrible life because of my debt. This is a really bad experience that I am currently having in my life and I hope everyone who read this post will learn from what my mistake was, and won’t go on the same path as me.
Yes I will looking into my daily living expense and hope I will cut some of them. Originally, it was 35K on my balance but then I tried to sell most of my asset (Stock, I don’t have a house) and brought it down to 22K. So at this moment of 22K debt I have nothing beside my monthly salary. I am so upset when I see most of my friends now they bought houses even they make less money than me, I was really poor in my money management.

Technorati Tags: 3 years, bankruptcy, banks, credit card consolidation, credit cards, credit score, creditors, Debt Settlement, grammars, interest rate, minimum payment, money, personal financial problem, rich kid, settlement company, us bank, whole life

I would like to hear from people who have actually filed. What happened? What is the process? Are you happy with your decision? Stress relieved?
I am so in debt and credit card companies keep raising the interest rate. I cannot get ahead. I don’t see another alternative.
Please – only people who’ve actually filed. Thank you!
Any information is appreciated.

Technorati Tags: credit card companies, interest rate, stress

Does anyone know of something besides bankruptcy to get credit cards paid off? Any private investors that do that sort of thing…lend money at a low interest rate? I’m not even sure that we could file for bankruptcy because we are not behind on any payments. Some how we are getting by, but are having to charge stuff, because once we make the minimum payment we have no money left. We own a home, but hasn’t been long enough to get any equity out of….any suggestions out there??

Technorati Tags: bankruptcy, credit cards, interest rate, minimum payment, money, private investors