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Why do so many people keep going into credit card debt?
Question? What makes people keep using them when they see the destruction it is causing?
Many people, mostly younger folks and women, have so many credit cards they end up in severe debt and ruin their credit for many years to come. Credit card applications are mailed out by the tons and people keep activating them knowing the interest rate is or will be up to 20% or higher. Everyone needs at least one credit card and no more than two. You also need one revolving (department store) credit card to establish a good credit history. The limit on the credit card(s) should be no more than 10% of your annual salary and the revolving card half that. Always make a minimum of a double payment on all your credit cards and pay on the due date. Never ever be even one day late. The interest rate and late fees will destroy you. If you are experiencing problems the first thing you need to do is carefully cut the cards up and throw them away. If you can not afford to pay the total monthly bill attempt to get a consolidation loan to get out of debt. The monthly payment will be less than the total monthly payment of all your cards with a much lower rate. Some banks and credit unions will be willing to help you out if they know why you are taking out the loan. Financial debt can create so much strain it can even destroy your peace of mind and your marriage. Don’t fall into that trap.
How do credit card debt councilors work with credit card issuers?
I’ve seen on t.v. how credit card debt councilors work with banks when people owe a lot of money on their credit cards. They say they can not only reduce the amount owed but also get your monthly payments down to where they are manageable. How do they do this, are there any consequences such as a reduction of credit score, and is it effective (do they really do this or is it a scam)? Also, how much do they charge? Thanks.
Best source for credit card debt consolidation loans?
Whats the best place for this type of loan? Banks?
where can i get approved for a personal loan if i have bad credit…I want to consolidate credit cards.?
I have a credit score of 570ish and I want to get an unsecured personal loan to consolidate my credit cards into one payment….what are my options if i dont want to use a debt consolidation or settlement company
Are there any banks that anyone knows of that would approve me…i dont have a cosigner or a car or house to borrow against either.
Anyone take a personal loan to pay off credit cards?
I was wondering if anyone took a personal bank loan in order to pay off their credit card balances? Do banks actually offer a credit card consolidation loans yet and for that purpose only? From what I understand this would be better than a 401K loan. Forget the home equity loan. Also heard enough about those so called “credit card repair companies” that they are not worth it. About 16k owed and I am sick and tired of their finance charges , late fees, etc. Want rid them once and for all!
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