NEW to forum! Please offer me advices
Date: Thu, 04/15/2010 - 18:16
Hello,
I've been in debt since 2002. I spent 8 years trying to pay off credit cards it's not going anywhere because of the big interest rate.
they are all 20-30% and I'm tired of it.
Here is my situation.
1 student loan for 10k
no other secured/unsecured loans
Citi card- $2500
Capital one - $350
Discover- $1200
2 credit card from chase - 1. $1500 2. $6300
HSBC- $1100
Bank of America - $5300
I'm employed full time but $900 goes out the door every month and I'm unable to save anything. I don't really want to ditch any companies but the Interest is not getting me anywhere so I'm having second thoughts.
Please offer your advices because I need to do something.
My friend said that i could settle or something like that?
There is always a consequences to any actions so please tell me what will happen if this and that happened. Thanks
I've been in debt since 2002. I spent 8 years trying to pay off credit cards it's not going anywhere because of the big interest rate.
they are all 20-30% and I'm tired of it.
Here is my situation.
1 student loan for 10k
no other secured/unsecured loans
Citi card- $2500
Capital one - $350
Discover- $1200
2 credit card from chase - 1. $1500 2. $6300
HSBC- $1100
Bank of America - $5300
I'm employed full time but $900 goes out the door every month and I'm unable to save anything. I don't really want to ditch any companies but the Interest is not getting me anywhere so I'm having second thoughts.
Please offer your advices because I need to do something.
My friend said that i could settle or something like that?
There is always a consequences to any actions so please tell me what will happen if this and that happened. Thanks
Hello, well first off this is a great place to get pointers. On
Hello, well first off this is a great place to get pointers. One thing you have to remember is that if you choose to settle your debts, your credit score will be knocked around. My husband and I doing our own settling and have had great success, but have stopped answering the home phone. For example we settled with US Bank for just under 20% around the 5 month mark.
Dont be afraid to ask questions about everything before leaping.
If I focus only on paying 3 low credit cards and stop paying the
If I focus only on paying 3 low credit cards and stop paying the other 2 high balance...and try to settle that later on. Would this help repair my score because i had defaulted on the other two?