2006-10-04 18:49:08 · 8 answers · asked by yowhatup 2 in Business & Finance ➔ Credit
Well, are you totally upside down and WAY delinquent, or are you still managing to make your payments but just have too big of a debt for your income?
I agree with the person above...if your credit isn't so far gone to where no one will grant you a loan...get a personal loan and tear up those credit cards.
I have learned the HARD WAY in regards to credit...my situation ended up with bankruptcy, but that was over 10 years ago.
Now, from what I understand, credit cards still have the right to sue and garnish, regardless of filing for bankruptcy...which, in the credit card companies' eyes, it's great...but, considering this is what gets most consumers into trouble and having to go into bankruptcy, it stinks.
The best and most true advice is to NEVER pay your minimum payment. Always try to pay at least double your payment...but even as few as $5.00 to $10.00 more than your minimum helps TREMENDOUSLY.
Also, if you ARE overpaying on your cards...consider taking your highest balance card, and making all the overpayments you'd normally pay on all of your cards, and pay them on the one card only, and just pay the minimum on the other cards 'til the balance of the bigger one is paid in full.
Then, do that for the next highest balance, etc etc.
It really DOES work. You keep the smaller "boys" satisfied by a regular payment, and the overage really kicks the **** out of your big balance card.
I know this isn't much, but hope it helped anyway. :-)
2006-10-04 19:19:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Where do u live and how are u protected is important. If u live in USA/ INDIA. Forget the 10K and stop worrying. Go to a advocate and seek his guidance. Most likely u may not be required to pay. If the company hires goondas, Go to the nearst police station and file a complaint. If that happens chances are u never have to pay them and even claim from them. Go rush to a advocate. Do u Know one thing about laws in INDIA. The first to file a case/or complaint is the best defended. Do not worry. Credit card companies are violators they charge u and indulge in usuary. Usuary is banned in India. So be happy. Only an advocate can come to ur rescue.
2006-10-05 02:21:14 · answer #2 · answered by Loganathan R 2 · 0⤊ 0⤋
If you are still current, then you should try different strategies on your own to get your interest rates lower so that you can pay them faster.
If you are falling behind, then you should consider meeting with a credit counselor. Try finding a local agency that has a satisfactory rating with the Better Business Bureau. If you are looking for a CCCS member agency, then a directory is below:
2006-10-05 09:29:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Try CCCS. Comsumer Credit Counseling Service in your area.
2006-10-05 01:50:53 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Contact the companies, and ask for temporary relief of your payments and fees. They may work with you on it.
2006-10-05 08:33:22 · answer #5 · answered by Anonymous · 0⤊ 0⤋
cut them S>O>B's up.........they are evil.....and take out a personal loan (depending on what your balances are) and pay it off and dont get another unless you are responsible and comitted in making payments
2006-10-05 01:52:10 · answer #6 · answered by Lisa 5 · 0⤊ 0⤋
You need expert advise. u can get some for free from these chaps:
http://www.kqzyfj.com/ic108ju1qy0FIGLOPJOFHGJNIHNH
2006-10-05 02:34:47 · answer #7 · answered by Bulldog 3 · 0⤊ 0⤋
call accc. yahoo search accc, newton ,ma. they helped me.
2006-10-05 05:07:26 · answer #8 · answered by suddenlymommy 2 · 0⤊ 0⤋