credit card debt relief
Posted By: stressed on 2008-08-21
In Reply to:
Does anyone have any experience with those companies claiming to reduce debt by up to 70%, etc. ?? I'm drowning in debt. :(
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Have U renogiated credit card debt when minimum payment got too high? Do they take your card away,
s
credit card debt
Not sure what will happen, but I do wish you luck. Credit card debt is an unsecured type of debt. I don't know what more they can do to you other than a judgement. Not sure you can put that under a bankruptcy either once the judgement has been placed. I know a lawyer that handles a lot of bankruptcies -- did some work for him. He always asked his clients if late payments had gone to judgements. If they had not gone that far he was pleased about it. I guess it made things easier legally. Not really sure.
Credit Card Debt Counseling
http://www.cccsatl.org/index.asp?_method=view&sc=43&cn=486&md=debtmanagement
Here's what you want to use... It is called Consumer Credit Counseling Services. They are legit. Now back when hubs and I did it about 15 years ago, there were no computers, per se, so we went on site to an office. I don't know what state you're in or if there is an office local to you, but it looks like you can do this online.
We did it, completed it, and it was great. However, they cut your credit cards up in front of you and put them in a huge jar (at least they did back then). Once you join, there are no more credit cards. What CCCS does is works with your creditors to reduce interest rates, payment size, etc. because they are networked. You then make one lump payment to CCCS and they disburse the money. They also take into consideration your income. I think that's what makes it all work. Also, this is what tells them how long it will take to pay off the debt. Just beware though that if you are "behind" on payments, sometimes certain creditors do not accept CCCS, so they may hassle you still and some just plain won't accept CCCS's offer.
Believe me, even though we are not late on payments, we had in the past 3 years so much personal stuff go on (sickness, death, etc.) that we have racked up some debt ourselves and may try CCCS again, as one card we have raised the rate to 33% interest because we have a high balance. We make regular payments.
All in all, it's a great plan and it does work, but you no longer have credit cards (they close the accounts), and you will have a "bad mark" but yet a good mark on your credit report for using CCCS. Check with them about that though, as I do not know the specifics. It is way better than bankruptcy...
Hope you find some relief soon! My thoughts are with you... I'm not judgemental because I've been there and done that. 
credit card debt lawsuit question
If there is anyone out there who has been sued and had a judgment placed for credit card debt....
What happens when you go to court?? I don't own a house and live week to week (part-time IC, not very supportive husband) so they can't get blood from a stone so to speak. But I was wondering if anyone has gone to court and what actually happens.
credit card debt lawsuit question
Anyway you can declare bankruptcy, chpt 7? I am going that route. :(
Do you have a lot of monies owed where bankruptcy is a real possibility?
I'm going through a similar time......talk about stress!!!!!!!
debt consolidation/relief
I'm seriously considering going with one of those debt relief companies to get myself out from under a mound of credit card debt. I feel like I'm drowning. Has anybody had any experience with these companies, good or bad?
Before considering the CCCS or debt relief (sm)
places, first call the companies. If you haven't been charged off yet, most will work with you and have hardship programs. The accounts will likely be closed, but after 3-4 ontime payments they will "re-age" to show as current, will lower the interest rate so payments are lower and you will pay off over a 4-5 year period (in most cases, you can't use the cards as acct will be closed to further charges in exchange for drastic reduction in interest rate). Going with CCCS or similar, has the same effect as a BK, even worse, on your credit rating. The accounts will report as "closed, paying under debt management plan." While bankruptcy is an option I suppose, if you're a homeowner or have any assets, you'd have to file Chapt. 13 which will allow for some payback. I'd call the companies first and lay out your situation and see what they suggest. The credit industry is in a mess right now so they are willing to work with you if you're upfront and showing good faith.
Why does closing a credit card account negatively affect your credit report
Especially when I never use it anyway, and really never wanted it?
With all the bank rearranging going on in the past few months, one of my accounts was tranferred to Bank of America. I was sent new cards and a new agreement, new interest rate etc...
So I called them up and cancelled but before they did, I had to listen to a spiel about how this would negatively affect my credit report.
Huh?? Why is that?
Credit Card Reform Can Cost Good Card Users
Part of article:
Credit cards have long been a very good deal for people who pay their bills on time and in full. Even as card companies imposed punitive fees and penalties on those late with their payments, the best customers racked up cash-back rewards, frequent-flier miles and other perks in recent years.
Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee revenue for the industry. And to make up for lost income, the card companies are going after those people with sterling credit.
We pay off our balance every month. If they do this (punish those who have sterling credit) Ridiculous!! I'll stop using my CC and pay by cash or check.
So much for reform.
credit debt
Wow thanks for all the good tips.
As this got off the subject and onto other things, I just wanted to say I have heard Al-Anon is excellent for people dealing with alcoholism in a spouse or other loved one. It might be a great place for support for you and your kids. Just a thought.
Credit card (SM)
There was information about credit cards and interest rates going around late last year/early this year. Basically, from what I understand with the new bankruptcy law this was attached to it. The credit card companies can and will charge you and me whatever interest rate they want to, and the only thing we can do is cancel the card and pay off the balance. There were these little inserts with your statements that many of us just throw away and never think about it. But I did read the ones that were sent with several of my statements, and I kindly told them to keep my rate where it was and I canceled the card. Sad but true. 
About my credit card
I owed close to $10,000.00 about 2 months ago on my credit card and called to make sure I sent the right amount as paying it off. After I paid in full, they also sent a "finance charge" for around 35 to 40 dollars. I paid that but have discontinued using that card. I have another card, used during Christmas, interest about half of the other one and getting that paid off before long also, just sent $500.00 towards that yesterday. I on the first had asked for payoff amount but the finance not there when I asked.
credit card
I've not had personal experience, but I know to be wary of some of those companies that advertise. I saw a financial advisor on the Today Show and she said to make sure you go with Consumer Credit Counseling; maybe there's a link on the Today Show website. Good luck!
Pay off our credit card
And with the little we'd have left just put it in the bank
I use my credit card!!!! Priceless!
Actually it was an expired one. Hubby laughed. I use Dawn Power Disolver in the blue bottle. Works wonders. Then IF I have to scrape I have used the credit card of course, but fine metal spatula or a razor, but I use one of those like you scrape paint with that has the handle like an ice scraper.
Did anyone's credit card payment any go up
seems chase is changing policies on their credit card holders. charging 10 service fees if you want to keep your promotional rate. also doubling minimum payments. Didn't they have financial problems in 2008?
The credit card companies are going
to be do everything they can get away with in the next year because of the new rules that will go into effect in 2010. Keep an eye on your interest rates. I have a couple that went up for no apparent reason. I called them immediately. One company lowered my interest rate below what it had previously been. The other did not, and I paid it off and did not use it for a while. They sent me a notice a recently that my credit limit had been increased and the rate had been reduced (back to what it had been previously, of course).
The link below has a synopsis of the new rules that will take effect next year.
Nope. Usually, we use the credit card...
just because it keeps my husband and myself from seeing how much was spent and where until after Christmas (we both frequently check the bank account online). This year, though, the one positive thing about my husband being in Iraq is that I did not go crazy with Christmas like I usually do and I explained to all the extended family that I was not buying much for anyone except my son. Thus, no debt this year, although we always pay it off fairly quickly. I think the highest my credit card has ever been is $700.
Not so much by unknowns but by my own credit card companies,
all foreign people, trying to sell me the credit protection. The last one called me for around 10 days straight (unknown # on the ID)until I finally answered! I told them all to put me on THEIR "do not call list" or I'd cancel the card. Seems to have worked. ;)
To restore credit, get a card that is pre-paid and use that
s
best cash-back credit card?
We've been using the GM card to get new cars for less, but i'm open to a different card that rewards general purchases, food, gas, apparel etc, with cash back. Any recommendations? thanks!
Be very careful about credit card payments
I just paid off my Visa to the tune of over 7,000.00. This was what was posted but did not take into consideration the interest charges put on- I got a bill for $1.50 so I thought ok will send that in, I was a day late- (no excuse, just overlooked) and they had put my interest- get this from a low 10 to 117.16 for that month- now what would happen if I owed a REALLY BIG amount- I would never get that paid- how it worked out was I owe them now $15.59 which I think will pay before time. Just be aware, folks! These folks are ruthless....
Credit card Washington Mutual/Providian
Get this, I haven't used my Providian/Washington Mutual credit card in quite awhile. I got the new credit card in the mail to take over for the old one, and I thought I would give the company a call to find out what the interest rate was on it. So after reaching India of course, I asked for someone in the United States, was put on hold for 4 1/2 minutes and then disconnected. So I call back, go through the 15 prompts and get someone from the Phillipines. The interest rate on my card is 31.8% Yep you are reading that correctly - 31.8%.
I am passing this information along because I am livid at the fact that the interest is 31.8% (which, by the way, neither person on the other end of the phone said "let's see what we can do to lower this.), and because TWO countries have this credit card's business and people in the US are working 2-3 jobs to make ends meet. I know this has been an ongoing discussion about offshoring, but I was more angry at the fact that it is 31.8% and that no one offered to lower the rate, even after inquiring about it.
OMG! I worked at a hospital where the ID badge was credit card
Yes, I totally understand! It is easy to get caught up in the moment and you think, oh, it is only a few dollars. Lunch would be more than I really could afford because I'd charge it. And the bargains at the gift shop (yeah, right!!!).
Could you get a loan from a low interest credit card perhaps to pay off the 2500?
DH paid off credit card. Now I'm paying him back. No
nm
I hope you got her arrested for credit-card theft
*
There is a free version of Efax that does not require a credit card. sm
Are you needing to fax out, in, or both? You didn't clearly state, but said you needed a number. I receive faxes for free through efax, but haven't sent any that way. Never have I given them credit card info. Check out myfax.com.
This happened to me with a credit card, bought a printer and they never charged me for it on my stat
All of a sudden my card was canceled and the amount sent to the collection agency. They said I knew I bought it and should have sent in payments, even though it never appeared on the statement.
IMO a card would not be out of order at all. Except a sympathy card, of course.
I totally agree a sympathy card wouldn't quite be the thing, but it sounded to me that the original poster of that idea didn't mean a sympathy card like one for death. I think sympathy in the sense of "hey, you had a rough time of it with this birth, and maybe things haven't been the way you imagined, but know that I'm thinking of you and I'm here if and when you need me."
I got PPD when my breastfeeding relationship didn't go right, following a birth plan that went seriously awry, and the reality of a fussy, picky baby instead of the happy, sleeping one that I had imagined.
I *did* spend a lot of time on the phone, but then everybody's different. I would have loved to get a cheerful card from a friend, however. Does anybody NOT like a card?
I get the most relief from...
Running a HOT, HOT bath and laying down in the water, belly down, and allow my nose to run and run. It really helps to clear it up...for a little while but after a few times of this, I'm better. Hope you feel better..
That's a relief! (nm)
.
well that is a relief
You made it sound like he could not get out of bed, so it is just you who has the problem. Maybe you need the counselor.
some relief for your baby...
Try hemorrhoid cream to the blisters...I swear it will significantly decrease the itching. My daughter was around 4 when she got the chicken pox and I put Preparation-H on her blisters and kept it on them and she barely noticed them. Please try this, it honestly will help! Good Luck...and BTW, sounds like the doctor isn't the only one that is a jerk!!!  ---to your "husband"...
A welcomed relief.....
My daughter is a teacher of 8 year old, most from low socioeconomic backgrounds She hears things she would never had thought children that age would know about. This subject has come up and like she said, if this is the worst thing that would happen in a day, it would be a blessing of a day. And, yes, she says the child does get embarrassed even though others may laugh...... so when does one decide whether it happened by accident or on purpose? I suppose this has never happened to you.
Sure hope you get relief! (nm)
(nm)
What do you do for stress relief?
I am having a tough time blowing off steam lately and looking for some stress relief ideas...some for in the moment and some for just routine daily/weekly life stress.
I am pregnant so moods are crazy and I am just having difficulty letting go of even the smallest of things. Looking for some pointers, ideas, suggestions. 
My garden tub used to do the trick but now that I work until late at night and have a child home from school for the summer, it is difficult to find the time for that or mani/pedis which I also used to enjoy.
The relief has to be indescribable for all of them. What an ordeal.
It is such an amazing thing to have something like this turn out in the best way it possibly could. My heart breaks for all those families who will never have such an opportunity but takes joy in this, a very special day.
good deal, oh the relief! nm
x
Ah, that sounds like a relief. Thank you so much for that info! nm
`
Oh, what a relief. --sooo happy for you!.nm
nm
Update, heavy sigh of relief. sm
My daughter just got a text message, her friend's time of the month arrived. Thank heavens. Thanks for your advice. Hopefully she learned her lesson.
Actually, it was a relief. Family spread all over the country,
shopping-for, standing-in-line, buying-the-gift, wrapping-the-gift, boxing-the-gift, driving-to-P.O., standing-in-line, mailing-the-box, etc., x 5 siblings, + 1 mother who needs & wants nothing, & myself, who has no storage, counter, or closet space for anything anyway, it was just getting to be a pointless rat-race. All of us enjoyed the holidays a lot more this year by just plain enjoying them, without the usual related stress involved. Our big day has always been Thanksgiving, when we do all try to get together at mom's.
Might do that one day, but have some debt to get rid of first - sm
So putting out $6500 for a TT will have to wait; in a year I may be able to think about it, then save up the $$$ for it. I have done some research into this and know I first have to lose the weight and be stable at my goal weight for a while before I can have that done if I want to do this right. Guess I will just have to wait and see just how bad it looks after I shed the 70+ pounds. Feeling good right now, just went outside did some yardwork that I usually never have time to do (really didn't now either but work can wait), felt good to be active for a change, though I must now sit on my big butt and work for the next 4-6 hour! My thing is that I have to get more physically active, sit way too much!
Out of debt
Congratulations!!! Isn't it a wonderful feeling?
debt
I agree with transferring to 0% when the offers come. I have been doing that for years. Now, I just got an offer for 6.99% for the life of balance up to 12,000 dollars. Going to take that offer, (we are going to remodel our main but small bathroom) and pay off 2 1/2 cc; then what is left over, oh, and going to give my hubby 1000 to get out bike out of shop, so, what ever is left over, which should be 6 to 7000, will redo bathroom, payments won't be bad, like 190 a month and don't use your cards for a good while, just steadily pay. Hope this helps, and life is too short to stress over bills. Keep them in mind but at the same time, think of what you have. 
Creams make me itch even more, what I have used is Aveeno skin relief body wash, not the packets
you dissolve in the water, but the actual wash that costs anywhere between $6-7 depending on where you live and was with that 2-3 times a day. You can try that too and see if it helps her any.
I am totally out of debt -
house, cars, motorcyles, credit cards. Everything!
It feels great!
Paying down debt
It is getting harder to make ends meet because of all the straws in our bank account. I have 17k in CC dept alone. It is with 4 different CC companies. One CC has $200, #2 has about 4K, #3 has about 2K, #4 has 10k. The 10K one has a 15 % APR, the others I believe range from 24% to 29% APR. My biggest monthly payment is my house and I owe only $4700 on it and it has 6.3% APR. I sold some things and am getting $5K and that will be enough to pay off my house. I would love to finally, officialy own this house and get rid of that $350 monthly pmt, but I wonder if I should not pay down on the CC because of the high interest rates. Any opinions. TIA.
Paying Down Debt
I feel you, believe me. First, Bravo to you for facing this. That's the hardest part. I think if you are so close to paying off your house, you wouldn't want to take out yet another loan against it. Additionally, the interest rates aren't that great. What is the total of payments you are making on your credit cards? If you can slap that 5000.00 on your debt first on all of the higher interest ones perhaps paying some of them off. That will free up extra money to put on the rest of your credit cards. Then once the credit cards are paid off, you can then work on the mortgage (I WISH I had your mortgage..). Also we work in an industry where it is easy to pick up extra work---have you thought of that just to get extra money to pay off the debt? That's what I'm trying to do. Things are just so bad right now. Good luck, hope this helps...
Well, the only debt we have is our house...
so I would put it towards the principal on our mortgage.
Did you go into debt over the holidays?
C'mon, fess up!
Did you use credit to buy things for the holidays, or did you pay in cash?
I'm happy to report that for the 13th year, we paid in cash.
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