I Put $35,000 on a credit balance transfer at 2.9% until 8 / 2007. They raise the rate to 28.95% because an old cell phone bill hit my credit. The card company said that it was under a Universal default clause in new contract terms.. Have tried to negotite , write letters..now considering walking away from the entire debt.. Any options or similar experiences?
2007-01-01 19:09:24 · 4 answers · asked by corporatetrade 2 in Business & Finance ➔ Credit
You can not image how many times our clients go through this. Same story different people. This is a very little know credit card trick. Don't walk aways from the debt that is far worse either pay it or get into a program to negotiate it for you. Anything you do except pay them what they want will effect your credit score temporary. If you have any questions on what to say if you decide to call them back please contact me, I will be happy to help you no strings attached. Good Luck
Kourtnie Donihoo
Debt analyst
The E.D.A. Group
2007-01-01 23:51:24 · answer #1 · answered by Kourtnie D 4 · 0⤊ 0⤋
Credit card copmpany has the "right" to do this. Fight this as hard as you can. Walking away from a debt is the worst thing you can do.
Why in the world would you accumulate a $35,000 credit card debt? If it's not for health issues.... you need to take an honest look at how you run your financial life.
2007-01-01 19:20:47 · answer #2 · answered by Common Sense 7 · 0⤊ 0⤋
Ignore the guy above. How old are you? If you have no real ideas to buy a house or anything soon..go to a debt counselor and either make payments or negotiate a settlement at less
2007-01-01 19:42:27 · answer #3 · answered by xovenusxo 5 · 0⤊ 0⤋
Why don't you just take your money else where? Your doing THEM a favor giving 35k to play with while they use that to fund other loans.
Go somewhere else like their competiion.
http://www.credit4unow.com/bad-credit-loan-mortgage/
2007-01-01 20:21:37 · answer #4 · answered by CreditScoreBooster 2 · 0⤊ 0⤋