File Bankruptcy. I did it last year, and bought a $200k home 6 months later with normal interest rate (at the time 6.5%), have 2 new credit cards, and receive offers all the time for more. I have a new truck loan (8%) Who cares if the CC interest is 32%??? If you file bankruptcy, you get rid of all your debt, thus you should be able to pay your card off every month and pay zero interest. Filing Bankruptcy is the best thing I have ever done.
The best part of filing bankruptcy is the 3 months before your court date when the creditors call you to collect and you can mess with them for a while, sound all excited and promise them that "it will be taken care of VERY shortly" LOL
Actually, the date you pay a lawyer the bankruptcy fees, he will give you a case number. If the creditors call you, tell them you are filing in the US Bankruptcy Court of whatever state and give them case number. By law they can never contact you again about that debts. I actually enjoyed messing with the people so I never told them until the day I went to court. No creditors showed up, court took less than 3 minutes, and I wiped out $50k in CC debt, $12k that I was upside down on my truck, $3k in medical bills, and several other debts. Had I not filed, it would have taken me way more than 7 years to pay it all off, so my options were 1) File bankruptcy, have poor credit, but be able to pay for everything in cash since you have no bills, or 2) Not file, pay the debts off over 20 years, and then have nothing after 20 years cause you paid everything to the creditors.
True the laws have changed, but not as much as they want you to beleive. I make over 60k/yr and filed with no problems. Withn 3 months of me filing, 3 of my friends and my friends dad who makes $125,000 per year filed (gambling problem)
FILE FILE FILE!!!!
IF you have any questions or need advice on how to go about it the right way (yes there is a right and a wrong way) email me. Ask Wilheim for my email address
The best part of filing bankruptcy is the 3 months before your court date when the creditors call you to collect and you can mess with them for a while, sound all excited and promise them that "it will be taken care of VERY shortly" LOL
Actually, the date you pay a lawyer the bankruptcy fees, he will give you a case number. If the creditors call you, tell them you are filing in the US Bankruptcy Court of whatever state and give them case number. By law they can never contact you again about that debts. I actually enjoyed messing with the people so I never told them until the day I went to court. No creditors showed up, court took less than 3 minutes, and I wiped out $50k in CC debt, $12k that I was upside down on my truck, $3k in medical bills, and several other debts. Had I not filed, it would have taken me way more than 7 years to pay it all off, so my options were 1) File bankruptcy, have poor credit, but be able to pay for everything in cash since you have no bills, or 2) Not file, pay the debts off over 20 years, and then have nothing after 20 years cause you paid everything to the creditors.
True the laws have changed, but not as much as they want you to beleive. I make over 60k/yr and filed with no problems. Withn 3 months of me filing, 3 of my friends and my friends dad who makes $125,000 per year filed (gambling problem)
FILE FILE FILE!!!!
IF you have any questions or need advice on how to go about it the right way (yes there is a right and a wrong way) email me. Ask Wilheim for my email address
Using any of the credit repair/credit counseling services will affect your credit report like a bankruptcy. However, someone who is in that deep probably needs that sort of thing to prevent them from digging a deeper hole.
Most of what the credit counseling folks do, you can do yourself and not get the credit hit. There's a guy named Dave Ramsey who is on the radio in the afternoons (and has a website--(his name).com). He's a little too much God Squad for me, but what he says makes a ton of sense. (The first week or so you listen, you'll think the guy is off the deep end. But he's got some no shit, good common sense advice.) He'll tell you how to negotiate with your creditors and how to remove valid errors from your credit report.
Most of what the credit counseling folks do, you can do yourself and not get the credit hit. There's a guy named Dave Ramsey who is on the radio in the afternoons (and has a website--(his name).com). He's a little too much God Squad for me, but what he says makes a ton of sense. (The first week or so you listen, you'll think the guy is off the deep end. But he's got some no shit, good common sense advice.) He'll tell you how to negotiate with your creditors and how to remove valid errors from your credit report.
sean1 said:
You can work a deal with the CC company and this will not mess with your credit and is what a advisor will suggest. This in no way will ruin your credit.
You have to tell them to lower your rate. You have the right to take your business some where else. don't argue with them just tell them to lower your rate and that 32% or whatever rate you have is crazy and will bankrupt you.
I have done this many many many times when I was in college and 90% of the time they lowered it. The other 10% I just got a new card and transfered the loot. My credit rating is very high so its nothing to worry about....
agree....some go for 18 months interest free.... I have about 3000$ total in debt and only 1 CC though I could get TONS but no need....If I see a 0% 1 yr I switch I do not think I have paid interest on my balance in at least 3 yrs ..If you paying interest on your CC balance you need to have your head examined and then go get a 0% cardBetIt said:
they are there search google
http://www.creditcards.com/low-interest.php?a_aid=1004&a_cid=1002&a_did=2014
http://www.lowcards.com/
