My husband and I built a house and end up going for our allowance 80,000. We're not sure what to do . I can only pay 600 a month to the creditors . How I can get the finance charges stop. I have 14 cards . We thought about selling our house as a last resort. We do not want to declare bankruptcy . Please any advice would be appreciated ! 600 a month is not enough to pay even the minimum .
Is there currently a bailout credit card available to people with extreme debt credit card?
I owe $ 40,000 to a credit card company ( bank) . I am retired with no income . I have social security and have a small IRA . This allows me to pay my mortgage , eat and pay utilities . My mortgage is $ 50,000 and the house is worth $ 70,000 . I have no way to pay the debt if they want to survive . One person on the credit card company told me that if not paid could take my IRA and / or social security checks payable of $ 40,000 . Or they could take my house . Can they do that ?
Ok... So I got a credit card in 2007 from Wells Fargo. It is unsecured and the amount was for a $6,000 limit. My Husband and I purchased a 22' long trailer and Xmas gifts that year. Financially, we hit hard times and I never paid a single payment on it. So, it went over limit up to like $7,000+. After we got back on our feet, I contacted the bank right before it went into collections and made an agreement for them to automtically draft $140.00 out of my account per month. At this rate, we now owe like $5,000 on the debt. The "credit card" aspect is gone, so it is just debt. We will have it paid off in like 3 years. It is showing up on my credit report as in collections. They said that they will accept a lesser amount. Any Suggestions? Please help. I know nothing about credit and what looks good/bad on credit reports, but I know that it being in collections is BAD. They said it'll say "collections" until it is paid off completely- that's 3 years. I know that after 7 years, if I paid nothing, I'd be $5,000 richer and it would disappear off my credit. Due to the fact that we also have 2 personal loans, one for my car and the other for our (HUD) house that we took out in 2006 with Wells Fargo, I wonder if I call and offer them like 1/3 or even 1/4 of the debt, if they'd accept if I threatened that I'd file bankruptcy and they'd get nothing for all 3 loans. The other two were $10,000 and we still owe $7,000 and the other was a $15,000 and we owe like $11,000. The 2 were both 5 year notes. Please help. I know it's alot to take in. We are financially set now and I DO want to pay off debt, but I want to do it so that it makes my credit look better as well. Thanks in advance :)
What is the difference between an agreement to negotiate the credit card debt settlement letter and debt ?
debt to suppliers of materials. Also I have an income of about 50,000 per year. I can file a bankruptcy ? Whole or I'll have to file a bankruptcy reorganization. my personal monthly expenses are around 4000.00 per month including food secure rent and utilities
My loan amount is $ 36,000 after selling the car probably going to put $ 15,000 on my credit card and I have $ 15,000 in credit cards. due to unemployment from last 2 years I have no choice but to submit bk . go to garnish wages ? please advice
Is it bad to consolidate credit card debt through a debt consolidation company ?
I lost my job 8/15/2008 due to reduction in force. I was there for 10 years, made a good salary, but never saved. I had very little credit card debt, but had about 20 credit cards with zero balances. For the last year, I have spent 14-16 hours a day on the phone, going to job fairs, networking, calling people with no luck. I applied for over 1,200 jobs. Last week, I finally found a job making 80% less than my last job. I lived off of all of those credit cards for the last year, and used one to make the payments on another. Now, all 20 cards are maxed out. I am caught up on 15 of the accounts, but the other 5 are calling me every 30 minutes to 1 hour with an automated dialer. I did this to myself by not saving, and have learned a difficult lesson. The 5 banks will not accept anything less than the exact amount which is late, $2,500.00, $3,500.00, $1,000.00, $1,800.00, and $1,200.00, and there is no way that I can make those kind of payments. I explained the situation to them and they did not understand and keep calling me. Five of the banks offered me a payment which allows me to make really small payments for the next 2 months until I am caught up. I am grateful to them for that. What can I do about the other 5 banks? Before I lost my job I had superior credit, now I am thinking about bankruptcy to get the 5 banks off of my back. Is there any other way? Thank you for your help from someone who has never had credit problems.
I have $ 30,000 in credit card debt and can not afford to pay my minimum payments over ? I do not own a house . Basically , I'm broke . What are my options ? what credit card companies do if I pay for them ? Should I apply for bancruptcy ? Advising help . thanks
Serious answers please. I had gotten a few credit cards so that I can have "credit". But then I had to use it for emergency reasons and now I have maxed out my cards. I don't have a lot of income and I feel like I've hit rock bottom!