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If you have good credit and have lost your job or had a reversal of finances for some reason, talk to them . If they know there is a possibility of you going into bankruptcy, they would rather settle than pursue collections.Do NOT do this without legitimate cause. That would be fraud.You can also negotiate your interest rate. But ASK. They will never OFFER to help.
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∙ 13y ago
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What is a good APR?
It depends on what you are getting credit for. A home loan with an APR less than 5.5% is good. A credit card with an APR of 15% or less is good.
What are some tips to settle Credit Card debt?
The first tip to settle credit card debt is to stop using it completely, using only cash for all purchases. The second tip is to pay more than the minimum amount so that part of the principal balance is repaid with less interest accruing for the following month.
Should one file for bankruptcy or settle with credit card company?
I have been considering claiming bankruptcy for quite some time now. I have no money and am a student. I was injured on the job a few years back and am going to be receiving a settlement offer from the worker's compensation company soon. The settlement would pay half of my credit card debt. Should I try to settle with the credit card company for less than I owe? Or should I still claim bankruptcy like I was planning originally? If I claim bankruptcy, will the money I get from the settlement be up for grabs? If so, can a bankruptcy lawyer negotiate a settle-for-less deal? Help!
How much of congress backs credit card relief?
The congress backs credit card relief by changing it so that a person can limit the cap on their credit card. This allows for more or less spending and less fees for over spending.
What is a good thing about having low interest business credit cards?
Low interest business credit cards have much less low risk than high interest credit cards. Less cost is imposed for the person using the credit card.
What is a good APR?
It depends on what you are getting credit for. A home loan with an APR less than 5.5% is good. A credit card with an APR of 15% or less is good.
What are some tips to settle Credit Card debt?
The first tip to settle credit card debt is to stop using it completely, using only cash for all purchases. The second tip is to pay more than the minimum amount so that part of the principal balance is repaid with less interest accruing for the following month.
Should one file for bankruptcy or settle with credit card company?
I have been considering claiming bankruptcy for quite some time now. I have no money and am a student. I was injured on the job a few years back and am going to be receiving a settlement offer from the worker's compensation company soon. The settlement would pay half of my credit card debt. Should I try to settle with the credit card company for less than I owe? Or should I still claim bankruptcy like I was planning originally? If I claim bankruptcy, will the money I get from the settlement be up for grabs? If so, can a bankruptcy lawyer negotiate a settle-for-less deal? Help!
How much of congress backs credit card relief?
The congress backs credit card relief by changing it so that a person can limit the cap on their credit card. This allows for more or less spending and less fees for over spending.
What is a good thing about having low interest business credit cards?
Low interest business credit cards have much less low risk than high interest credit cards. Less cost is imposed for the person using the credit card.
How does a credit card debt settlement affect your credit?
Answer:Debt settlement will have a larger effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.I took help of Freedom Debt Relief to settle my credit card debts, its been more than a year that I enrolled into their program and now I am almost debt free.
How can 13 year old girl get good credit?
Do you mean good credit as in a credit card? To get good credit, you must first obtain a credit card. From there, you can start building good credit by making purchases and not having any fees or going over your limit. Good credit is built over years, however, and having a credit card at the age of 13 may impact the price of education in later years; ex. If you have $500.00 in your bank account when you apply to a college, they will see you have money in your account and assume that you have a paying job, so they will give you less money for scholarships when you apply to them.
What is credit card settlement?
Usually, a credit card settlement referes to a situation in which the cardholder can't pay the monthly bill or the reduce the balance. Occassionally, the credit lender will agree to a one-time settlement in which the carholder pays a reduced amount of the balance. A credit card settlement, though, will be reflected on your credit history and is looked upon unfavorably. that is true--but it is better than the company charging off the account. also if you settle for less than 60% they can turn around the next year and send you a 1099 for your taxes to make you declare it as income. SO if you must settle make sure that you don't fall into this.
Does paying off high balance credit card help your credit?
Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.
Would it be better try to settle for less of amount owed with credit card companies or wait until it goes to collections to settle?
Always better to try settling with the credit card company before it goes to collections. Once it goes to collections, your credit rating (score) is effected greatly, and that rating stays with you anywhere from seven to fifteen years, and it can't be erased simply by paying off the debt - it will stick with you for what seems like an eternity and will hamper any and all efforts by a person seeking credit ever again.
When I look at my credit card statement online why does the available credit show less than the actual credit limit?
The difference between the two should be what has been charged to the card.
What credit rating is required to obtain a Chase Secured Credit Card?
Anyone with a credit score can obtain a Chase Secured Credit Card. However, this type of credit card is mainly designed for people that have less than perfect credit ratings and need help in obtaining positive credit history.
