credit cards

[1dave]

Hi all New Here:wave: , i got one of those credit cards im totally in dept with $10,000 bad mistake i am not behind on payments but paying minimun payment because thats all i can afford. any suggestions or anyone been here and got out of it faster without hurting credit? :wave:

[goodkiller]

Originally Posted by 1dave

Hi all New Here:wave: , i got one of those credit cards im totally in dept with $10,000 bad mistake i am not behind on payments but paying minimun payment because thats all i can afford. any suggestions or anyone been here and got out of it faster without hurting credit? :wave:

Yeah, stop advertising crap in your signature. That always hurts your credit.

[GoodCreditMan]

Originally Posted by goodkiller

Yeah, stop advertising crap in your signature. That always hurts your credit.

This is the type of friendly post Goodkiller is known for ;)

Welcome aboard! :wave:

[anchorbob]

Originally Posted by 1dave

Hi all New Here:wave: , i got one of those credit cards im totally in dept

What the hell is in dept?

:roll:

[10cats]

Making the min payment is what all the TV hype is about. Credit card companies wold love you to buy into the you can have it all ads... until you do then... then you'll pay for it forever. There's no reason you can't contact the credit card company and make a deal with them for lower payments, reduced payoff and tons of other options.

Do a google search and see what you come up with. Check out Barnes and Noble for books on negotiating with creditors. They even have overstuffed chairs and tables where you can read the book for free if you're broke just take a note pad and write the good stuff down.

Paying the minimum will eat up your future think about it this way if you can earn 8% on your money (and you can) every dollar you give them is costing you $122.30 over 30-years so if you're paying $100 a month you're losing over one hundred forty six thousand dollars. Dude that's worth a trip to the book store.

[10cats]

Making the min payment is what all the TV hype is about. Credit card companies wold love you to buy into the you can have it all ads... until you do then... then you'll pay for it forever. There's no reason you can't contact the credit card company and make a deal with them for lower payments, reduced payoff and tons of other options.

Do a google search and see what you come up with. Check out Barnes and Noble for books on negotiating with creditors. They even have overstuffed chairs and tables where you can read the book for free if you're broke just take a note pad and write the good stuff down.

Paying the minimum will eat up your future think about it this way if you can earn 8% on your money (and you can) every dollar you give them is costing you $122.30 over 30-years so if you're paying $100 a month you're losing over one hundred forty six thousand dollars. Dude that's worth a trip to the book store.

[financeman45]

Originally Posted by 1dave

Hi all New Here:wave: , i got one of those credit cards im totally in dept with $10,000 bad mistake i am not behind on payments but paying minimun payment because thats all i can afford. any suggestions or anyone been here and got out of it faster without hurting credit? :wave:

Just do the best to pay extra

[AntiPlastic]

If you are able to make the monthly min payment, then you have some simple measures you can take now, till you can make more permanent arrangements
Any extra income you can get, mowing a neighbor's yard, a yard sale, anything, can be applied as extra payment. At this rate, anything you can pay extra now will not be payed out over time at what, 300% compounded or so

[fred333]

That is a great point. I would put every extra penny towards paying it off.