Credit card debt - Topic profile

Advertisements [ ? ] Interesting story about what happens to your credit card debt if your bank fails. Covers Washington Mutual, Wachovia Bank and IndyMac Bank and Lehman Brothers. One good point is that most acquirers typically honor the contracts made by the failed bank. Source: CreditCards.com

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Advertisements [ ? ] Edited on Mon Oct-06-08 11:25 PM by margotb822 I have two credit cards, one at 11% and the other at 14%. Is it a good idea to take out a loan, pay them off, and just pay the loan instead. I'm not using them at this point, just trying to pay them down. I don't have a house to use as equity, so it would just be a loan. Can I even get a loan ...

This all started when the bad mortgages started to rear their ugly heads. The banks figured they would make up the loss by raising interest rates and lowering available credit on customer's credit cards held at the same bank. This also hurt credit ratings. The credit bailout will be here soon.

[crossposted to Estate Planning board] My father is in his mid-80's and in good health. Our family is very grateful for that! I have a question about handling future events. Dad has been financially dependent on me and one of my siblings for more than 5 years. I provide more than 1/2 of his support (living expenses, health expenses, etc.). For 2008, we (Dad & I) have talked about ...

[crossposted to CC & Consumer Debt board] My father is in his mid-80's and in good health. Our family is very grateful for that! I have a question about handling future events. Dad has been financially dependent on me and one of my siblings for more than 5 years. I provide more than 1/2 of his support (living expenses, health expenses, etc.). For 2008, we (Dad & I) have talked about ...

How much credit card debt do you have? I see how many people refer to their credit cards and minimum payments and such. They say the average person has a fairly high amount with this credit crunch. I was just wondering how that reflects on this forum. We have a good mix of people that should give an accurate glimpse of the average.

Looking for free advice. Due to job loss several years ago I have $40K in Credit card debt. I am paying over $1K per month on this debt and barely making a change due to interest etc. I have over $200K in a IRA account. Even with paying penalty and taxes would it be better to use some of this money now to eliminate this debt? I still have 20+ years to ...

Advertisements [ ? ] if I'm reading these numbers correctly, at this point I would have been better off just buying food or booze or something (or paying off my credit card debt and student loans) with all the money that I've "put aside for my retirement" this year. I mean, those numbers that are all red and shit aren't really helping me out a whole lot here, ...

I pay mine off every month.

Quote: Originally Posted by AsburySkinsFan I wonder if this albatross will meet the same fate this time around...my guess is no. Basically the same bill, with a couple small sweeteners thrown in so that the GOPers can go home and say "I stopped it, then they fixed it." Well, unfortantley the screaming coming ...

Quote: Originally Posted by florch It's also worked out a few times. Anyone can make a mistake and everyone deserves a second chance. The world isn't as black and white as it was when I was 23. Mutual benefit and trustworthiness is the key. How do you figure that out? I can't know, but discretion is the better part of valour....

Some may highly disagree with the following advice. This advice only applies to elderly folks with no assets and a high amount of unsecured debt. Able-bodied people should always pay their bills. Ok, with that disclaimer out of the way: Your dad is an example of the problem this country is currently in. Banks have lent him a large amount of money without verifying that he has the ...

Quote: Originally Posted by toughb ***************** Credit cards, lines of credit are really demand loans. Get a loans officer nervous and you could have your limit severely decreased or even withdrawn. That leaves you with 30 days to pay back the money and a negative remark on your credit report. To really make the point they don't have to have...

If you think the CDOs are bad, you should see the Credit Default Swaps. I've been tracking lawsuits and other matters for my company, and for the entire year the mess has gotten worse and worse. Interesting. I have read about the CDSs. I'm still learning. I hope, I assume, that somewhere, far from the immediate battle, people are sitting down, calmly and quietly, and trying to put...