Posts Tagged ‘credit counseling’

What happens when you stop paying your credit cards?

So I’ve done some research and I know all of the consequences of walking away from credit card debt. But I am not sure what I should do. I know many people have asked this same question and were told to get credit counseling. I’ve also looked into that and most places charge a fee which i can not afford to pay. I’ve also looked into debt consolidation loans, which i am not eligible for. I’ve even called my credit card companies and asked for a lower interest rate and was denied. I can not afford to get an attorney. This is my situation. I was young and dumb got a bunch of credit cards. I think I have about $ 4.500 in credit card debt. I try to pay more then the minimum monthly payment but my interest rates have increased and I can not afford the monthly payments. I also have student loans and a bank loan that I pay on as well. Those loans are obviously more important then my credit cards. I pay on these cards and the balance never goes down. I do not even use the cards anymore, it does make a difference. Any HELPFUL suggestions or advice from personal experience is appreciated.

What happens if a person doesn’t pay a credit card?

My friend has a house with some equity but she is deep in debt and does not want to do apply for gov. assistance. She borrowed money on a credit card but they pulled some things like not sending her a bill twice and raising her rates up to about 27%. anyway, she is going through an illness and other family problems and got to a point where she started paying very little then stopped. Now they want her to just pay it off & offerered producing 60% off None of us ever had debt so we do not know what to do. . . she can not get credit counseling of any kind because she is making no money So They will not help her. . . where can she get good advice. . . or she should borrow the money to pay off this card. . . . or oh, what happens if she does not pay it. . . any info. is appreciated. She is so stressed out I am worried about her help so please do not give an answer judging he for being stupid cause you do not know what happened. . . . if she pays the settlement will she have her credit ruined?. . . . what if she does not pay it. . . she had someone tell her she could have bad credit erased there is so much going on now. So, what role does that play Bankruptcy should she look into that and how does she cause she does not even have a lawyer or know anything about. Thanks. Actually she is, has so many problems that I have not mentioned so she could not have done anything and she has been in & out of the hospital for mental health reasons. So the bills have been hard for her to even think about. She has problems with other family members.

I need motivation from someone please?

Okay. I need some motivation. Please. Its pretty sad that I am 25 years old and I am looking for someone to Yahoo to give me some advice. But, I am out of options and I want to know if someone has been in my spot before and can give me some help. As mentioned, in the 25th During college, I destroyed my credit by running up some credit cards and not paying them. About two years ago, I enrolled in credit counseling. I have managed to pay down a large amount of the debt, but still have about $ 5.000 left of the $ 11,000. I am getting married in a month, barely affording my bills (rent, utilities, etc.) and can not seem to save any money because my job (although decent paying) does not leave much excess. I need a second job, but It is hard to find one when I have to commute an hour downtown and home everyday. I work a 9-5′er that I probably will not be moving up in pay anytime soon since I just started this job. I just want to be able to give my wife the better things in life. I want to be able to travel with her, buy her a house, afford nice things. Its tough when almost all of our friends are doing very well, buying homes, better jobs, living exciting lives. Its getting VERY frustrating seeing her unhappy that everyone seems to be enjoying the good life while we struggle. She can not seem to find a full time position right now either. I know that this is basically “Life” but I need some motivation to keep pushing forward and keep my head up I usually have no trouble picking myself up each day no matter how hard things get or sad but my life is, Im getting weak and tired of fighting. I know that there are many more people in a far worse position that us, but is there anyone out there who has been here before that knows what Im going through? Any advice? Thanks.

Should I continue to pay my credit cards?

I am 23 and at 10.000 in credit card debt. I really can not afford to pay them anymore. The Majority of my payment goes to interest. One of my cards I pay 82 a month and only 18 goes to my actual bill. I think it’s ridiculous to keep paying them when they’re taking all of it in interest. Down I do not use the cards anymore but the debt does not seem to be going. A friend suggested seeking credit counseling but I’ve heard bad things about them. For everyone with the good advice Thank You. For everyone else you do not need to be so harsh. I understand that I made the purchases and absolutely agree that I should pay them. I have no problem paying. My issue is that they are taking very little of what I’m paying and putting that toward my bill. If they can lower the interest rate that would be fine with me. I am not asking to not pay anything at all Learn to read a question correctly before you judge me please. So these cards are all from when I was in college at 18 and living on my own. I was stupid then and did not realize how much credit cards would hurt me later. I did not use the cards on a good time and going out. Most of it was used on just living at school and paying for food and books and school related things!

my husband and I are looking to refinance we don’t know if we will qualify?

We are working with a non-profit credit counseling place to pay off $ 18,000 worth of credit card debt. I was not aware of the fact that working with a credit counseling place will hurt our once perfect credit. We made all our payments on time just wanted to consolidate all of it into one payment. Anyway now we have to refinance our house and I am concerned no mortgage place will want to give us a loan. Not to mention that we do not make the most money. Anyone have any thoughts or know if we would qualify?

I’m thinking of filing bankruptcy.?

I’ve been doing credit counseling for three years and because the payment has been more debt so high it has caused me to go into. I know it’s not a good thing, but please tell me there is light at the end of the tunnel. Any advice, thoughts, suggestions? And how much does a typical Chapter 7 cost? 900-1200 bucks? Is not that crazy considering I’m in a debt mountain of? I am doing credit counseling but the monthly payment is too high. My debt is around $ 57K and I’m facing a garnishment that I can not afford.

cccs.net and BAD credit…Help!?

My husband and I have HORRIBLE credit. We can not get any credit cards because our credit reports are filled with charge-offs. . . collections. . unpaid loans. . . and etc. We’ve finally “grown up” and we are regretting being so immature about our credit. We’ve contacted several credit counseling type of services but is CCCS. NET a good one to go through? Has anyone had any experience? We are about 10,000 in debt!

Will I have to stop using all my credit cards if I enter a DMP through NFCC?

If I enter a “debt management plan” through the “national foundation of credit counseling,” Will I have to stop using all of my credit cards until I finish the “debt management plan?” What is their policy while being in a “debt management plan” with them? For example, say I have eight credit cards and five of them have balances that I am having trouble making the monthly payments on. The other three have never been used. Then I enter a “debt management plan” through the NFCC on the five cards that I am having trouble paying the monthly payments on. Will they require as part of the “debt management plan,” I did not use the other three cards as long as I am “debt management plan.” In their Can they monitor me? Do I have to agree to never use any of three three cards as long as I am enrolled in their “debt management plan?”

I am 64 and disabled and on S.S.D.?

I have been in contact with Credit Counseling doubled over a credit card payment this month. All of my finances, bills, possessions, etc. reflect proof that if I walk out on this credit card debt, I am basically judgment. Done all I can. Now I can not. What are the laws in Texas regarding what a company can do it to me I walk out on this debt. CC felt very bad that they could not help me, and told me this.

Should I declare Bankruptcy?

So I am here $ 31,000 in debt to student loans. . My forbearance is up in August and I can no longer forbear them. . . So I am pregnant with my second child. I am going to own up to that debt somehow. Problem is I am going through credit counseling right now on a credit card I racked up while in college and out of college that is sitting at $ 16,000. . . . Hopefully in the next year and a half that will be taken care of but I am not so sure. So due to the fact I knew I had my student loans coming up this year I decided to get rid of my car. My car only sold in auction for $ 5.500, so that leaves me with a debt to $ 9.500 this. I have refused to pay this debt. I think it is now in the hands of credit collectors. I do not feel I should have to pay this debt at all because they sold the car cheaply Sun, not my problem. But now everything is stressing me out trying to figure out how I am to pay the bills I have and feed another mouth. No rude comments please. . . Should I declare Bankruptcy?