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Thread: Credit advise

  1. #16
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    Just call them- someone will walk u through it- the main branch is in Texas so it’s usually their time zone u go by. If that helps.
    Good people though they (speak English)

    Shep

  2. #17
    Arky-X is offline Just Too Addicted Arm chair racerJust too addicted
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    Quote Originally Posted by fabiodriven View Post
    This is exactly why I started this thread, I had a lot of question that led to new questions. OK, so once I do this, I can forget about using my credit card is what you're saying? That actually makes a lot of sense and I was thinking about this very thing last night. I asked myself if this would be the case, if I would have to stop using my card once I did the transfer. In my head, I thought it was likely that I wouldn't be able to use my cards anymore. Thanks a lot for bringing this up. Because of this, and because I'll be able to pay these cards off relatively "soon", it might behoove me to stand by on the transfer for now.
    I don't remember the details on the one I was looking into but I think it was like this;
    https://www.creditcards.com/credit-c...nsfer-1582.php
    It is an older (2013) question answered but it may still apply.

    The federal Credit Card Accountability Responsibility and Disclosure Act requires that card issuers allocate payments in excess of the minimum payment to the balance with the highest interest rate.

    In other words, you would need to make at least the minimum payment plus the additional charges you made in that billing cycle to avoid accruing interest on the new charge.

    All it takes is discipline......that and cash.

  3. #18
    Join Date
    Jul 2005
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    There are a few sways to pat this off. There are online loans from lending tree or prosper.com That's basically like asking me for say $1000 to pay a bill then you pay me back monthly or weekly at a specified rate. No banks. Just me reporting a 1099 per my customers. My best friend get a new card every few months and transfers his debt over so his balance is always 0 but still pays his minimum or add 25-50 onto whatever his bill is at the time.

    The best advise would come from a true debt consolidation or investment person, in which I am not.

    ultimately if its CC debt the end goal is to abolish it. if you'd like more information on how my friend has been deferring his old debt to a new card so it does not keep building up I can ask him. Its been going on for 3 years after a bankruptcy.

  4. #19
    Join Date
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    Transferring the credit card balance to another credit card with 0% interest is an ok option if you are self disciplined enough to pay it off. I think you probably are self aware enough to do that. The trouble is that most people that do this just stop there because they think they have accomplished something. Same thing with debt consolidation. All you are doing there is putting all of your smaller debts into one big debt and stretching out the payments. The best way to get rid of debt is to pay it off and never use credit cards again. Look up "Dave Ramsey Baby steps". You wont like it, but its the best way out there. The wife and I started it over 7 years ago. We paid off $156,000 of credit cards, student, loans, car loans, house, and other stupid in 5 years. Because we dont owe anybody anything any more or pay interest on everything we can save money like crazy.
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    Quote Originally Posted by fabiodriven View Post
    Ya'll are the biggest bunch of whining b!tches I've seen in my entire life.
    You might be strong as an ox, but without a cart you are just a big dumb animal.

  5. #20
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    Quote Originally Posted by glamy View Post
    AAWWWWW just RE - FRY a 100% of what the house is worth .........and move to Thailand .........you`ll get some tail tonight for sure ...........tell us how you do !! ..........reverse mortgage sucks cause it`s only 60% .........sell this year ........buy after the bottom drops out ........it won`t be long............Oh Trumpy dump is so good for the economy .........i`d want to ripp his hair out .........he did a terrific job tearing my hair out !!
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  6. #21
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    Oct 2002
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    There's plenty of people out there that have no problem owing 50K in credit card debt, and it's the worst debt you can have.

    Usually nothing left to sell to pay it off, just clothes, vacations and everyday bullshit.

    It adds up fast!!
    All our government does is distract us while they steal from us, misspend our tax $ and ruin our country

  7. #22
    Join Date
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    I flipped credit cards for years to pay down a large debt I had gotten into when I was starting my business. I never experienced a card that wpuld keep track of the accrued interest that wasn't payed for the term, i thought that was more for the furniture dealers who say "No payments for 8 months". IMO, this is a very good way to pay off debt for a couple reasons. If you find a card like Bank of America that has a good rewards program you can get free stuff or money with the your points. 2, credit card debt is insecure debt. That means if you default (No man plans to default but you should think of it as a protection) they can't come after your house, truck, tax returns. All they can legally do is harass you. Getting a loan through a bank to refinance will probably require some collateral. And 3rd, when you're done your credit score will be insanely high. I payed off something like 30k on 4 or 5 flips and now I have an 815 credit score. It's nuts.

    I have no problem getting free loans from these kinds of companies that prey on stupid people. In fact, i kind of enjoyed it. I payed my credit car debt off a couple years ago and then started chilling at my student loan. I was pretty far into it so it wasn't worth flipping, i actually payed it off a month ago. All I have is a mortgage now, it's a good feeling to be somewhat in control again. Good luck, if you have any questions just shoot me a text
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  8. #23
    fabiodriven's Avatar
    fabiodriven is offline Aspiring romance novel cover model, and the Official 3WW slayer of thieves and swindlers. Catch me if you can
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    So much great advice from everyone, thanks to you all. Ideally if my home sells when I'm planning on it selling, I'll wipe out all of my debt in one fell swoop. That's soon enough that I'm just riding it out for the moment.
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