I only have one credit card witha balance of about $8500. I am having a hard time catching up on paying it. I am not behind, but I just cant seem to get ahead.
2007-03-27 06:24:54 · 5 answers · asked by misscongeniality711 2 in Business & Finance ➔ Credit
Listen to me, don't go to any of these stupid credit counselors or debt consolidation agencies, i'm telling you from personal experience! I was over 15 grand in debt, I had 7 collection agencies calling my cell phone literally all day! It was hell! Life is not fun living in debt, it feels like theres this constant cloud over you. Listen to me, you are in a great position, especially if you owe this money one 1 card. You need to call them up, and ask to negotiate your debt. They will probably transfer you to a different department, or give you a different number to call. Talk to them. Since your account is not in colelctions yet, they will be leanient...ask them if you can get a fixed interest rate or fixed settlement account or something, or ask to work out your payments...Don't enroll in any stupid programs they might have like "Credit protection" If worse comes to worse and you can't deal with it, or its just too stressful, go to a NON PROFIT credit counseling center. (You can find these at your local city community center) They will negotiate your debt as well as a reasonable payment plan based on what you make with your credit card company.
Do NOT go to any "debt consolidation" company or any "credit fixer" company or "EZ Loans NO CREDIT NO JOB BAD CREDIT OK!!!!" type places.
It took me forever to get my financial situation under control and I am strill struggling a little but I only owe a couple grand now compared to 15g's!!!!
2007-03-28 13:46:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you are caught in the credit card debt trap, approach a debt consolidation company for help, instead of paying high rate of interest to your card issuer. Most of the debt consolidation companies provide loans to help you tide over the credit card debts. These loans are known as credit card debt consolidation loan. The advantage of this loan is that you are charged a low rate of interest. The difference between the interest charged on the credit card and the interest on the credit card debt consolidation loan is substantial, saving you quite a big sum of money.
However you should note that credit card debt consolidation loan may not be right for all. Before applying for any loan, consult your financial advisor and apprise him of your problem. He will analyze your situation, and decide whether credit card debt consolidation loan is right for you or not. Take this loan only if he recommends it.
2007-03-28 00:27:36 · answer #2 · answered by hendy h 2 · 0⤊ 0⤋
I have seen on TV many companies that have come forth that service people with your problem. You need to call some of them and see how they might help you.
2007-03-27 06:31:36 · answer #3 · answered by dVille 4 · 0⤊ 0⤋
Listen, everything you need to repair your credit is located at:
http://www.thecreditrepairmanual.com
2007-03-27 06:31:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
stop useing any cards u may have and just keep pay as much as u can and when u get more money pay more..
2007-03-27 06:33:42 · answer #5 · answered by shorty21 5 · 0⤊ 0⤋