My credit is not so good (it's not too horrible 'cause I just got approved for a credit card but only a $300 limit) but I have some outstanding debts and right now I have a credit card that has about $6000 and the interest is so high that I can not keep up with it, how can I pay it off, will I be able to get a loan? Do I have any other options? I do not want to file for bankruptcy, my credit is not good but it's not horrible either?
2007-03-14 06:02:02 · 9 answers · asked by smcelvoy 2 in Business & Finance ➔ Credit
the account is closed, it has been for sometime, and my car is paid in full so I have no car payment, I don't even pay insurance (my parents do) I am a student and only work part time, so it's hard to make the minimum payments but I do.
2007-03-14 06:16:29 · update #1
Oh, dear... see if you can lower your APR on the $6,000 card. It only takes a phonecall. Also, see if you can do a balance transfer to a 0% intro APR card and pay every cent you can into that card. Make new purchases on a separate card so that you aren't stuck paying that off at the full APR, but look at the behavior that got you into debt and change that (if possible). Don't dine out until you've paid down that debt. If it's looking totally miserable, you could try to settle with the credit card company, but they may not be willing to budge.
2007-03-14 06:17:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Try to transfer some of the balance to your new card. You have one card that is $6000 and another card that is only $300 for a reason. Your best option is to just pay the card off asap. Make more than the monthly minimum. Make payments outside of the due date. Don't get a loan or file bankruptcy. Bad bad bad. Don't open any other accounts, that lowers your credit score. If all else fails, get a better job and make higher payments. Good luck!!
2007-03-14 06:07:24 · answer #2 · answered by ☺SDgurl☺ 3 · 1⤊ 0⤋
You can ask the credit card company and pay lower rate monthly. They will be happy get some money. Why are you getting another credit card? You bring yourself in a debt. Better is pay one off. You don't need to file for bankruptcy and than get everything worse. Try to pay monthly your credit card and buy not so many things if you really needed. Try to spend not so much money. With a loan you can perhaps pay the credit card off, but and than you need to pay the loan off too. So this bring you in a bad situation. If you are paying this credit card, whatever 30-50 $ monthly this will bring you in a better credit situation. Just think about it. Good luck....
2007-03-14 06:15:46 · answer #3 · answered by cat 6 · 0⤊ 0⤋
You may want to look at you other expenses like cars and rent. See if you can trade you car for one that is less expensive and use the difference to pay off the credit. Also lowering your debt will help your credit with a payoff. You may also want to contact a consumer credit counseling service (CCCS) service which can help lower and in some cases even eliminate the interest on the credit card. Make sure if you decide to go with one that they are a non-profit organization.
2007-03-14 06:14:26 · answer #4 · answered by Andy 3 · 0⤊ 0⤋
"At some point of time people dol have bad credit record. If you are worried about your poor credit history then you will not get any credit. There are many lenders who provide loans to people whose credit record is bad, but at a higher interest rate. You can get bad credit loans from some lenders quickly and easily.
Before you apply for a bad credit loan, there are some points you should first take into account. The only eligibility for the bad credit loan is poor credit history. To increase your credit score, ensure that the details of your loans are sent to major credit bureaus. "
2007-03-16 01:29:56 · answer #5 · answered by stone m 2 · 0⤊ 0⤋
You can write a letter to the credit card company asking them to lower the payout amount threatening to file a bankruptcy if they can't re-negotiate. This has worked for some people I know.
2007-03-14 06:06:26 · answer #6 · answered by LGT 3 · 1⤊ 0⤋
Quit using it and call them and ask them if they could lower your interest rate. If you have been making ontime payments they may lower the rate. Also you could transfer the balance to a different card. Call the credit card and ask for a manager and ask him/her about a rate decrease I have done it several times.
2007-03-14 06:06:36 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Being a student then you are quite good at learning and everything you need to repair your credit is at:
http://www.thecreditrepairmanual.com
2007-03-14 06:52:55 · answer #8 · answered by Anonymous · 0⤊ 0⤋
go to the bank you deal with,ask them to Consolata your debts into one loan one payment.
2007-03-14 06:06:58 · answer #9 · answered by parkituse j 5 · 0⤊ 2⤋