Should I change bank accounts?
Date: Fri, 03/05/2010 - 14:07
I am $24,000 in credit card debt and I can't pay them anymore. I have never made a late payment, in fact, I have made online, automatic payments for a long time.
I have two chase cards.
one has carried a balance for years and is at 12,000
the other i have started using recently during a time of financial challenge and racked up a bill of $7000 in a few months.
This card recently paid my entire balance off because I had checked off "pay entire balance" when I opened the account online, and they debited my bank account $6500, despite fact that I only had $1,600 in the bank. I looked at my account and saw I was negative $5,000, which of course would have been a disaster and I had to talk to a manager to get them to put the money back in my account.
and a citi card that has also carried a balance for a long time of $4,000.
I recently purchased a condo that I live in and I lease a Honda Civic. I plan on staying in my car lease for the next 3 years and living in my condo for the next 3 as well.
What should be my strategy here? Any help would be enormously appreciated.
I am hoping that by March 2013 I will be out of credit card debt and have good credit. Is that possible?
I have two chase cards.
one has carried a balance for years and is at 12,000
the other i have started using recently during a time of financial challenge and racked up a bill of $7000 in a few months.
This card recently paid my entire balance off because I had checked off "pay entire balance" when I opened the account online, and they debited my bank account $6500, despite fact that I only had $1,600 in the bank. I looked at my account and saw I was negative $5,000, which of course would have been a disaster and I had to talk to a manager to get them to put the money back in my account.
and a citi card that has also carried a balance for a long time of $4,000.
I recently purchased a condo that I live in and I lease a Honda Civic. I plan on staying in my car lease for the next 3 years and living in my condo for the next 3 as well.
What should be my strategy here? Any help would be enormously appreciated.
I am hoping that by March 2013 I will be out of credit card debt and have good credit. Is that possible?
Since you have accumulated this debt, you're responsible to pay
Since you have accumulated this debt, you're responsible to pay it off. There are various debt relief programs available, you might need to search the right option for you. Find out if your creditors would set up a payment plan with you.
You can check out about the various debt relief options in the following article.
http://www.debtconsolidationcare.com/debt-relief.html
Check out if you have incurred fees to the bank since the account was overdrawn. The bank might not agree to close the account till you have charges payable to them.
