Debt/Credit Scores • Page 2

idk like 12

 

sorry, I meant






idk my bff jill

 

Using Mint to try and figure out my budget and I'm realizing I don't spend a ton actually and the bulk goes to rent, student loans, and car insurance. Meh.

 

Oof. My wife stopped working FT after our son was born in 2015. I was in the 760 range. We lived off credit cards for a while. Now her mom moved in so that’s helping but still mostly on one income with side hustles. We’re in Los Angeles so that really isn’t helping. Today mint is reporting me at 621 :( with 65% usage on my cards. Using Mint to help get these paid down. No late payments so that helps and I’ve paid off and closed one card. I have 5 more to go.

 

Up to 753 now, very exciting times lol. But then we're selling our home now and will likely have to take a small 2-4K loan out to cover all costs. But outside of that we just have two CC's with money on them, a small Firestone card (interest free for 6 months) and Chase Disney which we have 4% APR on it (thanks to Solider/Sailor Civil Relief Act). Hopefully get everything paid off with the free moving money the Army will be giving us next month, plus my per-diem I'll be getting in two weeks from the school i've been in for the last two months (about $1200). Cool to see others big on their scores/trying to improve yours.

 

I low-key was just gonna apply for an American express card to buy presale tickets but when it asked for my income and the source I was too goody two shoes to lie when I know it's $0 and nothing

 

730 was my highest. i've only had my credit card for ~3 years. i'm currently <630 because lol health billz.

 

I think everyone has the same problem and this problem can't actually make us reach because of the slavery system. I remember the time when I was at home with my family and we decided to take a loan for a car, so we did it but from couple of months we couldn't pay for a loan since our salaries couldn't cover it. By the way a few days later debt collectors has come to us and asked for the money and we decided to take another loan to cover this one. Since then I think that all the wishes that we want is coming from the higher salary and in my opinion this is greed.

 

Hey what's everyones social security number

 

420-69-1234

 

if i tell you do you promise not to defraud me

 

Definitely

 

Felt like this is maybe the best place to post this;

Does anyone have any experience in credit card debt consolidation? I have some relatively large credit card debt that's built up over time, and I'm making like 6 different payments per month, and due to other financial obligations/life in general, i can never afford to really pay more than the minimum or so on each, and I just feel like I'll be going forever at this rate.

I am pre approved for a bunch of loans (at medium to higher interest of course) to completely pay off all credit cards and then re-pay the loan, which would allow me to save a little more money per month and just have one loan to re-pay, but at the same time be credit card debt free.

Has anyone done this, or can anyone voice for or against this practice?

Loan re-payment is not an issue, I have the income to afford it, it's just seems very inconvenient every month to make all these payments and not really see that big of a difference being made in the balance owed.

 

I did this 8 or so years ago because I racked up a lot of credit card debt in college. Then again a few years ago because my wife had a bunch. Each time the interest rate was less than my credit card rates and I could do it over 3 to 5 years.

Another option is to open up a new credit card that has a promotional balance transfer offer with no interest for a year or 18 months.

 

I was a personal banker for a few years and applied a ton of people for personal loans for this reason, and have done it myself twice. It's a very good idea as long as you can get a good enough interest rate to make it worth it, but with 6 credit cards I have feeling that won't be a very high bar to pass. Just be careful of credit card usage once the loan is completed and applied -- what a lot of people end up doing is using the credit cards "occasionally" while paying down the loan, and then find themselves in the same debt hole they started with but worse.

 

As someone who was veryyyyyy far in the hole debt wise up until about 2 years ago, I can offer some small pieces of advice. If you do go the private loan route, make sure you compare interest rates and that whatever the monthly payment is is affordable for you. Sometimes by consolidating debt to one place, your payment can balloon drastically. Naturally, you can always extend the length of your loan to make smaller payments, but keep in mind you’ll probably be paying more interest over time. As far as credit cards go, if you do wind up wiping them all clean, I definitely suggest to close a few if there is any temptation to “swipe” here and there. One thing I do recommend though is keeping your oldest card. Length of credit history is a major factor. If you clear the balance on all your cards, try requesting a credit line increase on the card/cards you plan on keeping. For example I had 5 credit cards with varying limits, totaling 30k. I was able to close 3 cards and got a credit line increase on 2 of the cards I kept, so my credit limit wound up being the same after I closed some unwanted cards.

Another option is balance transfers. Find which card has the best deal (0.00 APR for 18 months for example) and then consolidate that way.

 

Also to add to what I was saying last night, another good idea is to call your credit card companies (after the balance is at zero, the companies will more likely work with you if they see you own them nothing) and explain to them you’d like to close your card. A lot of the time to keep your business they’ll give you another promo of 0 APR for a set number of months or in rare cases, you may even get them to permanently lower your APR. Anyway, my advice for cards would be keep the oldest ones and the ones with the lowest APR (which usually tend to be the same.)

 

well i got like 1/3rd of the way there lol

 

Some companies, especially small banks, take debts as much as they can just for making bankruptcy, and therefore it will make them free from giving back money to regular people. But if you want to start a legal business from scratch, you should take into account everything which is related to that sphere of business, even what documents you will need to sign up. This article helped me to open a start up company ( website: http://www.fоunderdocuments.co.uk/startup/key-legal-documents/ ), even if it has all the simple information and simple hints, it refreshed my memory about it.

 

this is the way