Debt Help!?
|
T-MAC wants to know:
I am in a little debt I owe one credit card company 1700.00 ad another 350.00 how do I establish this debt without having to pay in full…I really want this off my credit the 350.00 credit card account was in my name but not for me I have never seen this card..But the 1700.00 was through my bank do you think I can set up payment plans….PLEASE!!!! HELP
I am in a little debt I owe one credit card company 1700.00 ad another 350.00 how do I establish this debt without having to pay in full…I really want this off my credit the 350.00 credit card account was in my name but not for me I have never seen this card..But the 1700.00 was through my bank do you think I can set up payment plans….PLEASE!!!! HELP
Tagged with: Credit Card Account • Debt Help
Filed under: True Credit
Like this post? Subscribe to my RSS feed and get loads more!
visit or
or
If the $350 was a case of identity theft or stolen card, report it immediately. As for the other, you can work with the credit company to make a payment plan, but they are generally reported as a ‘collection’ on your credit history.
Good Luck – and cut up those credit cards!!!!
I had a friend once who taught me an important lesson about family financing. He calls it “the bathtub theory”. It says that when you run out of money, the drain is larger than the spigot. You get out of debt by closing the drain and/ or by opening the spigot. Most of us mere mortals have control over the drain, not the spigot. Sooo.. put together a budget that cuts out the unnecessary expenses, go to your banker, put the budget in front of him and offer a payment plan you can live with. If the banker accepts the plan (and he most likely will) stick to it, and get out of debt. If he chooses not to, find an attorney and file bankruptcy. It will kill your credit for years, but it will enable yoou to get back on track without using credit. Good luck. (And, by the way, get rid of the credit card, or you will never get out of debt…!)
Depending on how old the debts are, you have a couple of options. First you should know the statute of limitations (SOL) for debt collecting in your state. This is different from the 7 year SOL for debt reporting.
If the SOL has expired on the debt, you could either neogtiate for a payment for deletion, which is a payoff amount that will remove the debt from your report. If you make a collector aware that the SOL has expired but you would like to make an offer to have it removed, chances are they may take it, becuase they may never get the chance to collect again. If you’re able to get them to agree to this, get it in writing from something on their company letterhead and have them send a UDL(universal deletion letter) to all 3 bureaus once the payment is made. When you do pay, use a cashier’s check or money order, NEVER give them your checking account information for ANY reason.
this site maybe able to help you with Financial and Debt related issues…
well it depends weather or not these accounts are in good standing. If they are in good standing then you can just pay the bills accordingly making not only the minimum balance but paying as much as you can as soon as possible. If they are not in good standings and have gone to collections, then you can contact the collection agencies and set up some sort of payment plan, but be careful they say means things like they will take away this or that or they will do this or that. They may also tell you that they will not agree to anything other than payment in full which is not true but ultimately they will agree to your terms as they get paid whenever they settle an account. Another option is to wait until they sue you and you can go to court and suggest you pay whatever you want. The court is the route to take if the accounts are already negatively reflected on your credit report, if not just call the companies and set up a payment plan ignoring the nasty representatives because they sometimes act as if you personally owe them money. Dont let them bully you into something you cant handle. Good Luck
What totally sucked was the fact that after college I had so much credit card debt that piled up and it was really affecting my credit score. I searched around and tried a few of those debt consolidation sites but found that nothing that I tried really worked. I found this kick ass site that helped me alleviate these problems and I want to share it with you.I helped me out so much and I hope it helps you as well.http://getoutofdebt.5gbfree.com/index.html
Hi,
I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate.I came accross this company on NBC News Special Edition.Check it out here: