Help Debts

Posts Tagged ‘interest rate’

I currently have a target credit card that has reached its 0 limit and is now just gaining interest at a very high rate (about 20%) I also have a bank of america mastercard with a 14% interest rate. I want to close the target account..Is it a smart move to transfer the target balance to the mastercard?

Credit card companies are allowed to increase interest rates to over 30% if they want. They also determine that the consumer is a poor credit risk if they have high balances on loans without looking at the fact that payments have been made in excess of amount billed and on a timely basis. It also seems that when a person nears retirement age, most companies increase the interest rate to the extent that it cannot be paid by a person on a reduced budget. This forces the older person to either go to a debt consolidation company (which charges for their services also) or quit paying, with the risk of loosing any assets that they have accumulated. Either way, embarrassing, harrassing phone calls have to be dealt with. A younger person with no home can file bankruptcy and they have no permanent consequence to this action. I am 62, have paid my bills all my life and now all interest rates increased and I can’t make payments, even with debt consolidation. HELP-PUT LIMITS ON CREDIT CO.

I know these types of debt consolidation plans aren’t very good for your credit but my credit is completely shot and I have a fair amount of debt.Just how bad does it look on my credit?What about after the debts are all paid off?Are they trustworthy and legitimate?Do they do as they promise?What was your experience with them?Are there plans reasonable so quality of life doesn’t drop too badly?
How can I find out thier contact number in my area to meet them in person?I would prefer to work with them that way.
My credit report is full of charge offs and late payments,2 judgements and a bankruptcy from 2001.I’ve been a financial disaster for many years but have finally "grown up" and am ready to truly tackle and repair this mess.Many of my "bad" marks will be off in the next 2-3 years.I have a current car loan but no mortgage or active credit cards.I have several bounced checks in chex systems as well.I’m hoping to have a good enough rating to obtain a mortgage at a halfway decent interest rate within in the 3-4 years.

I have some credit card debt I was to consolidate, I moved into my house 1 year ago (I co-own it but no equity at present) there were people at the address with very bad credit and I still recieve the odd bill 4 them now. I am looking for a loan of 6700 over 7 years as it will save me nearly 100 month. problem is I have been declined by my bank, there reason was that I got 2 bank charges recentely due 2 a credit card payment coming out earlier than I was expecting. I also applied to Nationwide as I seemed to fit their criteria but they have also said no. I have recentely applied for 3 credit cards as I was playing around with figures looking @ interest free options. 2 of these have been accepted 1 declined. the debt is currentely spread across 4 credit cards and 1 o/d. I have 1 other loan that has been running 4 a year which I want to leave as it is as it is low interst rate. I am a manager for a very well known company and earn 20k. (1200/month). Please give me some advice. thanks
PS names of reputable companies that would lend to my credit profile on an unsecured personal loan at a reasonable interest rate.
would be really helpful.
Oh! and maybe I should have mentioned…I am not stupid and will not fall for a scam!! I don’t believe any of the answers here are legitimate…..why on earth would a real lender have a gmail or yahoo address for a start, please any people reading this for info do not take any notice of the advice from anyone who has replied…they are all scams and I wish I never posted the question!
anthonia – your response is the same as the 10 other scammers, giving a vauge yahoo email address!

I am trying to get rid of my high interest credit cards. The only way I can do is either get a personal loan with a lower interest and pay off the cards with them or go to some credit counseling service. I am not a big fan of counseling services who’d dictate terms to me and take over my personal finances. I have looked into some personal loans from banks and I am thinking with what I can afford I should be debt free in less than 3 or somewhat years. But depends on how much money the banks are willing to offer and what interest rate. But then my credit history is not great at all. So I am kind of stuck as to what I should be going with. Counseling services or personal loans from banks. Thanks

I am a 24 year old female with about 6K of debt. I owe about 00 in back taxes, 0 in medical bills, 00 in student loans, and a few other random bills that I haven’t been able to pay. I currently have two collection agencies coming after me, and my credit is pretty much ruined because of it.

I was laid off about 3 months ago from my job and am currently collecting unemployment while I desperately search for another job just so I can stay on top of my bills. Two years ago I had nearly perfect credit, but I’ve just had one thing on top of another go wrong!

I am stressed beyond belief now, and I am contemplating using a debt consolidation service to manage my payments. My other option would be to get a credit card to pay them off all off just so I only have the once a month credit card payment instead, but my interest rate is going to be ridiculously high.

Anyone with financial knowledge….what’s my best bet at this point? I want to fix this now so I can build my credit back up!

I’m wondering if anyone has had any success using those debt consolidation companies and if so, what’s the process of it? How does it work and will it really work at lowering your interest rate/debt owed? And what company(ies) did you use? Thanks!

So, I am not sure which credit card I want to pay off first. I currently have two cards. One is a Wells Fargo and one is Citi. I am a wells fargo employee so the interest rate is really low at 9%. My citi card is currently interest free until may. I owe 900 on the WF card and 1600 on the Citi card. Ideally I would like to pay off the Citi card before the one year interest free expires (i am assuming the interest rate will be very high after the one year period)

Any advice would be appreciated!

I have about 12000 in debt that I will be paying off once I sell my house. I am probably about 5 months behind on payments. How long after they get their money will it take for my credit score to go up enough to get a decent interest rate on a home loan?

I did the old "get a credit card and go nuts" thing in college. Now, I have just recently come upon some money and paid off all of my debts. I am driving a car that is ready to fall apart and in desperate need of a new one. I just want to know if anyone knows of any way I can help repair my credit so that I do not have a 500% interest rate on a car loan (If anyone will even give me one!).