Help for a BOA do it yourselfer!
Date: Thu, 03/12/2009 - 09:20
I have 2 BOA cards. One is 19k and one is 1k. They raised my interest on the 20k and I have tried everything to lower it to a reasonable rate so I can pay it off one day. Well, they will not lower it and I can't continue with the payments so I want to try and settle on my own.
I have read alot about settlement on here so I think (hope) I can do it.
My questions are;
1. Should I pay the smaller card completely off so I can still use it or will they close it on me? I just made a huge payment on it and brought it down to 1k.
2. I pay my bills on line and I pay with my checking account from another bank, so can they take any money out without my consent?
3. What will my credit be like when I settle? I have other cards and I plan to continue to make all payments on them.
4.This card is in my name, so will it hurt my husband?
Thank you for any help!
Re Question #2, they can play dirty tricks and take money out of
Re Question #2, they can play dirty tricks and take money out of your checking account at another bank. See my post in the Identity Theft section: Bank of America - FIA Card Services - engages in FRAUD. They faked a pay by phone check and took money out that I had not agreed to.
If you have used a checking account to pay them, they have your routing and account numbers and can do that.
I did file a complaint and got my money back, though.
You may follow the steps mentioned in the following page for set
You may follow the steps mentioned in the following page for settling debts by yourself: -
Do it yourself Debt consolidation, Settlement and Debt Management
Debt settlement can negatively affect your credit score significantly.
I think debt consolidation program will be a better option to you.
A credit card in your name will not affect your husband's credit score. It can only affect your husband's credit if the account is a joint one.
