Help Debts

Posts Tagged ‘minimum payment’

I was out of work for a while causing me not to be able 2 pay my jcpenny bill for 5 months. My minimum payment is 330 dollars. I’m selling clothes platos closet to give them money and I get a paycheck on Monday. Its no going to be much I only wrk part time but does anyone have any advice on how I can get the bill down? I don’t need a lecture about the importance of credit and what can happen I KNOW. BUT IF ANYONE HAS ANY ADVICE ON WHAT I CAN DO AS FAR AS THEM ADDNG THE LATE AND OVER limit FEES PLEASE FEEL FREE to help me with ideas do get them their money to get m back under the limit thank u.

How can I lower interest on credit cards? and lower the minimum payment?
I am working with a non-profit to help people in the community with debt consolidation and budgeting. I am looking for tips, suggestions, strategies and proven methods for debt consolidation/credit counseling. Also, in need of assistance brainstorming for budgeting for people of various ages and lifestyles including money saving ideas on:
mortgage/rent
homeowners/renters insurance
property taxes
home repairs/maintenance
home improvements
electricity
water/sewer
natural gas/oil
cable bill
internet service
telephone land line
cell phone
college tuition
groceries
eating out/restaurants/lunches/snacks
child support
alimony
day care/babysitting
insurance(medical,dental,vision)
medical expenses/ co-pays
Fitness(yoga, massage, gym)
car payments
car gasoline/oil
auto repairs/maintenance/fees
auto insurance
transportation(tolls, buses,subway)
credit cards
student loans
other loans
clothing/dry cleaning
toiletries, household products
gifts/donations(e.g.)church
grooming(hair, make-up, other)
miscellaneous expenses
Please any help is greatly appreciated!

It is my goal to become debt free in 2008 and raise my credit score. In the last few months, I have paid the following in full:

car loan (paid off 6 months early- just got title)
Macy’s
Ann Taylor store card
Best Buy
Nordstrom

I have these credit cards left (I want to pay them in full before July)
Mastercard- 2,400
Visa 2,500

I still have the various store card accounts open. Should I close them? Will this raise my credit score? What else can I do?

** I still have a ton of student loans in which I make the minimum payment every month and another bank loan after all this.

Please give concrete advice.

I am trying to pay off all my credit cards. I have three major credit cards and I owe ,000. I’ve made every payment on time and I’ve been doubling up on my payments, but my interest rates are so high on two of the cards, that a big part of minimum payment is covering the finance charges.

Ideally, I would like to transfer my credit card debt into a 0% interest for 12 months card, where I can make large payments every month and pay the debt off faster, avoiding the finance charges.

But I’m worried that if I open another credit card, it’s going to hurt my credit score. I have good credit as of now, but I’m worried opening another card will hurt my score.

Any advice?

Also, if I get a new card, I need it to have a high credit limit so I can transfer most of my debt to it. How can I find the right card?

Thanks for your help.

I have 00 in savings. I have a credit card that has 00 on it.

I just bought a house and believe I am living simply and within my means. After all mortgage payments, car loan, student loans, and the above mentioned credit card, I have about 5 for the month.

If I consider electric and phone/internet that’s about 0. Leaving me with 5 for gas and groceries. Sewer and water bill are negligible.

The credit card has a minimum payment of about monthly.

I’m most comfortable having the least amount in monthly expenditures.

Would it be wise to just pay off the credit card with the money from savings and free up that each month? I’d then have about 00 in savings and would hopefully be able to save a little bit each month, but my monthly expenditures would be less.

Advice appreciated.

I am going thru a divorce right now and have had a lot of problems with money. I am about 3-4 payments behind on my credit cards. I am just not starting to get back on my feet financially. I have about 3 credit cards to pay on. One I could pay off myself in a few months, the other one by the end of the year. But my biggest credit card would take me years. I hate to ruin my credit because it has been fairly good. I have always made atleast the minimum payment. My question is, should I just call them and try to catch up and continue the minimum payments and slowly pay them off? OR Should I use a debt/credit consolidation service? Keep in mind credit is very much a concern even tho yes I realize I have probably hurt it a little already, but that was something I had no control over.