Low Credit Score Means Large Credit Card Debt
Credit cards are easy ... too easy. The little applications come to you in the mail already filled out, and all you have to do is sign your name and you're in. At first it seems too good to be true.
You wait, and you wait, then it finally arrives. It might be the easiest thing to use; no more writing checks or having to keep a wallet full of cash. This card is the ticket to everything you are buying, and unlike your check card - your checking account is not even affected. Or so you think. Keeping track of credit card spending is a hard task to manage.
Before you know it, you have huge credit card debt, the card company doesn't care, and you're stuck making minimum payments at 20% for the next 30 years. You've gotten used to spending, so you quickly find you are living beyond your means, and collection calls begin. There HAS to be a way out!
How? You need to fix your past errors. Credit card companies are talked about as if they were some sort of devil, yet really they will gladly help you. A quick call can set up an affordable monthly plan so you can get out of debt quicker and easier. They want the money just as bad as you want out of debt; so something has got to give.
So you hang up the phone feeling relieved; what next? Take your scissors and go to work on the credit card. Keep the number in readable shape or write it down in case you have to verify your account later on. Afterwards, hide it somewhere you will not be bothered to look for it and rest assured your spending days on it are over.
However if you made the major mistake of using more than one card; you will likely be getting hounded from those companies to make payments as well. Simply telling them you are paying off a larger debt to a different company will get them off of your back, yet they will want to work something out.
Whatever you do, do not give them the details of your other agreements. If they have the conversation recorded you could be in legal trouble, not just financial trouble. Be willing to work out a plan but make sure they understand you need to be in charge of the details as you have to pay more than one bill.
So you are finally on your way out of debt and you have to miss a bill. Do not lie to the company, instead tell them why you missed it and often times they will break it up into smaller payments that are more affordable. Update them regularly on your status and soon enough you will be closer to no debt and working on your own terms.
You wait, and you wait, then it finally arrives. It might be the easiest thing to use; no more writing checks or having to keep a wallet full of cash. This card is the ticket to everything you are buying, and unlike your check card - your checking account is not even affected. Or so you think. Keeping track of credit card spending is a hard task to manage.
Before you know it, you have huge credit card debt, the card company doesn't care, and you're stuck making minimum payments at 20% for the next 30 years. You've gotten used to spending, so you quickly find you are living beyond your means, and collection calls begin. There HAS to be a way out!
How? You need to fix your past errors. Credit card companies are talked about as if they were some sort of devil, yet really they will gladly help you. A quick call can set up an affordable monthly plan so you can get out of debt quicker and easier. They want the money just as bad as you want out of debt; so something has got to give.
So you hang up the phone feeling relieved; what next? Take your scissors and go to work on the credit card. Keep the number in readable shape or write it down in case you have to verify your account later on. Afterwards, hide it somewhere you will not be bothered to look for it and rest assured your spending days on it are over.
However if you made the major mistake of using more than one card; you will likely be getting hounded from those companies to make payments as well. Simply telling them you are paying off a larger debt to a different company will get them off of your back, yet they will want to work something out.
Whatever you do, do not give them the details of your other agreements. If they have the conversation recorded you could be in legal trouble, not just financial trouble. Be willing to work out a plan but make sure they understand you need to be in charge of the details as you have to pay more than one bill.
So you are finally on your way out of debt and you have to miss a bill. Do not lie to the company, instead tell them why you missed it and often times they will break it up into smaller payments that are more affordable. Update them regularly on your status and soon enough you will be closer to no debt and working on your own terms.
About the Author:
To find out exactly how you can get your annual credit report visit my credit report website.
posted by Debt Consolidation Loan at
2:26 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home