The original creditor will either attempt to collect the debt using their own collections department or refer the account to an outside collection agency. Generally after 180 days of default the original creditor will "charge off" off the debt, this does not make the debt invalid or uncollectible. Some original creditors will sell the debt to a third party collection agency, some will have their legal counsel initiate a lawsuit to recover monies owed, some will cancel the debt. A third party collector also has the option of pursuing a lawsuit against the debtor as well as using regular collection procedures. In addition the default will be entered on the debtor's credit report and will remain for seven years, thereby doing serious damage to the consumer's ability to obtain future credit.
how can it get free money to pay off my credit cards
If the credit cards are in HIS NAME ONLY, then no. You do not have to pay them off.
Yes. Contact your credit card company. They will need the account numbers of your other credit cards.
Money that goes to his estate needs to pay off the account.
Paying off credit cards is the first step to a debt-free life. For tips on paying off all of your credit cards, check out websites like The Motley Fool or Money Girl.
Information about paying off credit cards can be found on sites that deal with credit problems. There you can find places to go to to help pay off your credit card debt within your budget.
Some tips for for when applying for credit cards are: making sure your credit score is good, being sure how you'll pay off your credit cards, avoiding store cards, and paying attention to your rate.
Please do not stop paying your credit cards back. You will destroy your credit score. It is devastating what can happen if you stop paying off your cards. Credit card companies will harass & chase you for up to 7 years if you do not pay. They can make your life hell. This happened to me. I did my best to always pay off everything I owed. I worked 3 jobs at one time to make sure i had enough money to pay my credit cards on time. But when I got divorced, one of the credit cards I shared with my husband did not get paid. He promised to pay it when we were together. And he was paying it. But when he left me, he took off & decided to not pay the card anymore. Even though the charges on the card were his, I was responsible for the bill (because it was my credit card) . The credit card company did not get tired of chasing me for 7 years. They were relentless with sending me bills, & threatening to take me to court if I did not pay them. They did & I had to pay back the $2,900.00 that my ex-husband did not pay back on my credit card. Fortunately, they did not charge me interest on top of that. This situation ruined my credit score for a few years. After the credit card company got their money back, my credit score slowly recovered but it took many years to recover from this.
you dont need any credit cards you can live off cash and money you earn and not pay ridiculously to much in interest.
If you need to get credit cards to help repair your credit, try secured credit cards. Many banks offer secured cards like Wells Fargo and Citi. You can also try store cards but be sure you pay them off each month.
If you don't want to pay interest on the money you should pay them of fully.
Always pay off the one with the highest interest rate first. If you own a home you can refinance and take out cash to pay off your credit cards. I have no doubt that the interest rate you get on a refinance of your home loan will be lower than your current credit card rates.
It is NEVER a form of cash. Credit cards are plastic cards in which consumers use to buy products that they do not have cash for to pay at the time of purchase. They will promise to pay it off later, but these people tend to use the cards a lot and they never save and can only pay the minimum due.
To quickly raise your credit scores you should pay off your credit cards, or get a credit card if you don't already have one.
The best way to pay off credit card debt is to pay as much above the minimum payment as you can. If you owe on more than one card, pay the minimum on the cards with the lowest interest rates until you have paid off the cards with the higher rates first.
The single best way to pay off credit cards is to never carry a balance from month to month; the cumulative debt and interest may take years to pay down if only the minimum monthly payment is made.
part of your credit score is based off of the percentage of credit. So if you max out your credit cards it will have a negative impact. If you have 40% of your credit used paying it off will not have such a great impact. But what ever you do after you pay them off, don't close all of them. for example if you have credit lines to 20,000 and 7,000 in debit and you pay off and close most of your cards and now you 5,000 in credit lines and 3,000 in depit you went from to 35% to 60% of your credit lines used. That will drop your credit score through the floor.
If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.
To pay off loans and debt, be sure that you are paying more than the minimum payment. Stop using your credit cards and pay for everything with cash. When you see actual cash going out, you will me less likely to spend.
The fastest way to pay off bills is to pay them online using a credit card or a debit card. Most companies have online bill pay options. I pay my cable, electric, rent, and credit cards online.
Gift cards, and credit cards.
Satan now owns you, pay up!
Pay off any credit cards that you owe. Pay off anything other than mortgage or auto loans and make sure that you make timely payments and even double up.
Pay the car payment. So you can take your butt to work and pay the credit cards!