Paying Off Credit Card Debit
Posted on July 27, 2009 at 3:19 am
heycan you advice on howim paying of my credit card debit?
Posted on July 27, 2009 at 3:23 am
Pay off your credit card debit? Or did you mean, how to pay off your credit card debts?
Well it depends on your financial situation. Are you currently employed? Are you current on your payments? How much do you owe?
Posted on July 27, 2009 at 3:26 am
To add to Elizabeth's questions, who are your creditors? This is important if you are considering debt settlement. That is if what you owe amounts to $10,000 and if you are behind on your payments.
Posted on July 27, 2009 at 3:29 am
It's certainly hard to give you advice without knowing your true financial situation. If you are wary of disclosing it in the threads, feel free to fill out one of the forms here and speak with a debt expert instead. There are other debt relief options that you can explore and they can match you up to the right one.
Posted on July 27, 2009 at 3:33 am
Are you already getting collection calls? If you are don't fear because most credit card companies nowadays will accept a settlement. You are not really going to go to jail for being delinquent. Actually the more delinquent your account is, the better for you getting a good settlement deal.
Expect a settlement of 50% as many debt settlement companies aim for that. The concept behind it is that credit card companies would rather get something than nothing from the consumer.
Posted on July 27, 2009 at 3:44 am
I agree with don'tyoushiver but just a reminder, a severely delinquent account puts you at risk of being sued for non-payment (by your creditors). Although you won't go to jail for not paying off your credit card debt, your creditors can make you pay by obtaining a judgment against you through the court. A judgment means that your salary or wage would be garnished, your bank account levied, or they can place a lien on your property.
Posted on July 27, 2009 at 8:42 am
A judgment does not mean that there is a 100% certainty that your wages will be garnished etc...rather, if you do nothing to resolve the debt after they have obtained a judgment, then they would move to execute said judgment through the a garnishment, lien or levy.
So, if a creditor obtains a judgment against you, either reach out to them to settle the debt or set up a payment plan if you want to avoid those consequences.
Posted on July 27, 2009 at 11:50 am
Paying off credit card debt can be done through any of the following means (in no particular order):
1) Using money from savings.
2) Selling assets, using the proceeds to pay the debt off.
3) Unsecured or secured consolidation loan.
4) Credit counseling.
5) Debt settlement.
6) Bankruptcy.
7) Borrowing money from a friend or family member.
Posted on July 27, 2009 at 12:44 pm
By planning a strategy and sticking to it.
Posted on August 11, 2009 at 1:06 am
how can credit consolidation help in paying off my credit card debit???
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