Charge off is an accounting procedure where the creditor removes bad debt from their books. It does not mean you no longer owe the debt. In fact, Capital One probably already charged off your account at the 6 month default date. They will win a judgment for the credit card debt that you owe. [...] [...more]
Carrying balance of more than 30% of your limit hurts your score. Pay off the balance and your score will quickly rebound. Best way to use a credit card is to pay the balance in full every month. This builds credit history and saves interest.It comes down to your debt to income [...] [...more]
Start paying off the balance on each card. Whatever you can afford and of course, stop using them for new purchases. Eventually, you will need to pay them off, one way or another. There is no such thing as a free lunch.1)"Should I cut and run for the next 3-5 years and settle these [...] [...more]
If your cards have been canceled and turned over to collections it is too late. You need to cooperate with the collection firm and get them settled ASAP. These accounts will age with your credit profile for a minimum of 10 years. They don’t go away.The damage is already done and paying [...] [...more]
Find more information on debt management program [...more]
Pay the one with the highest inerest rate off first. After you finish paying off all your credit cards – never carry balances on them again. Use one for food, one for gas, and one for something else, etc. And pay them in full when you get the bill in the mail. This will get you top scores – [...] [...more]
It sounds like you’re in serious trouble. Have you thought about filing for Chapter 7 bankruptcy on the credit cards in order to possibly save your house? By going 5 months past due on a credit card, your credit rating has already been majorly damaged. Paying on time for one set of cards while the [...] [...more]
You should keep the balances on the cards. 3-5% is less than 7.99-9.99%. You will pay less in interest overtime with the cards. Also, you probably wouldn’t be approved for the loan anyway. They typically demand excellent credit. If you haven’t tried to make any changes with your budget/lifestyle, you should give it a [...] [...more]
Well, based on your findings, if the lower the credit card debt of the state, the smarter the people, then the higher the credit card debt, the dumber the people, which totally explains how Palin got into office. Great work, you may have just solved one of the biggest mysteries ever.Just guessing: Alaska has a lot [...] [...more]
If you are asking if they can garnish your wages the answer is YES. If you are asking if they can find out your current employer – the answer is YES. If you disagree with the amount they show you still owe put it in writing. You need start being resposible here and [...] [...more]
