I cancelled my cards and paid them off
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Canceling your card is not good, would not recommend that. Pay them off sure, but use that to improve your credit score.
Pay off your least amount owed 1st. and let all the other ones go for now, until the 1st one is paid off, then hit the 2nd least amount owed, so on and so forth. When the bill collectors call asking why your not paying them anything, say you will get to them later; but you have not forgot about them. Always call your credit card companies after you have saved some money, and ask them what they will take, money wise, if you can pay them in full, negotiate. Make sure you have them send you a written letter saying you are paying off your credit card for the amount you have agreed on, and keep the letter and several copies of the check for the rest of your life, just in case they come after you years later. Never, ever, give them access to your checking or savings account, they will take everything you have in there.
I don't have a single credit card, and don't forsee ever having another one the rest of my life. If I can't pay cash for it, excluding a house or car, I don't need a credit card. Always remember the borrower is slave to the lender! rt...
how much do you owe? Whats the % rate? I`ll tell you my debt and make you feel not so bad Just stop using the f`ing thing, you don`t have the money, you don`t get, that simple. CLosing a credit account is negative to your credit score because it drops the amount of total available credit, it also closes current positive activity, it could also be your oldest account which you would wanna keep that long track record of good pmt history. Cut back on your hair gel purchases down there and you can pay it off in no time
Pay off your least amount owed 1st. and let all the other ones go for now, until the 1st one is paid off, then hit the 2nd least amount owed, so on and so forth. When the bill collectors call asking why your not paying them anything, say you will get to them later; but you have not forgot about them. Always call your credit card companies after you have saved some money, and ask them what they will take, money wise, if you can pay them in full, negotiate. Make sure you have them send you a written letter saying you are paying off your credit card for the amount you have agreed on, and keep the letter and several copies of the check for the rest of your life, just in case they come after you years later. Never, ever, give them access to your checking or savings account, they will take everything you have in there.
I don't have a single credit card, and don't forsee ever having another one the rest of my life. If I can't pay cash for it, excluding a house or car, I don't need a credit card. Always remember the borrower is slave to the lender! rt...
over 4k
lmao on the gel comment!
LOL@ you need credit. Biggest scam going to get you too pay even more for something that is over priced. If I want something, I simply work harder. I am glad I don't have any credit cards and have everything paid off. The only thing I owe is my house and that payment is 1/2 what people pay for rent in this area. My vehicles are paid for. Why do people think they need everything new anyhow, especially a car? Save your money and pay cash on a good used one. We use to do this when I grew up, no one I knew had credit cards. Easy to just charge things, isn't it? In America everyone wants the latest things, that is why people overspend, when they really don't have the money. Stop being enslaved to these Banks for everything. I carry cash and pay in cash. Glad I went back to this.
Canceling your card is not good, would not recommend that. Pay them off sure, but use that to improve your credit score.
richiec, Yes it is Dave Ramsey's teachings, I have been to one of his live events and taken his full course through my church, and he has really turned my finances around for the better. If the poster only owes around $4,000, that is not that bad compared to the rest of America. If he has a decent job and buckles down, he can get the debt knocked down to zero. In my instance one should not buy a home if he/she can not pay it off in 15 years, if it takes you longer than that, the house is to expensive for the buyer. As far as vehicles, if it takes one longer than 3 years to pay off, it is to expensive for the buyer. My home is paid off and I drive a truck that I paid cash for, and my credit report is absolutely clean, except my home that I paid off early. Since the original poster only has one credit card, get it paid off and don't use it again, and I agree to not close the credit card account, just shred that thing; since he is not disciplined enough to use it wisely. rt...
I agree with this ^^^
The 4k should be paid off rather quickly if he attacks his debt. I've talked to my wife about this and that's what we're doing. We have baby #2 coming and I told her this baby will not be born while we have debt. So we are attacking it! blackstang, you need to do the same thing, attack your debt. One thing that will help you tremendously, stop buying supplements and use that money for your debt.
Credit is for poor people.
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