Archive for January, 2010
Is the FICO debt-credit ratio an average of each account or a total of all accounts?
For example, I have 10 credit cards. Is the FICO score impacted by the total debt vs total credit limit? Or….Is it an average made up of the individual cards?
Can you pay for runescape on two different pre paid credit cards?
Posted by admin in Credit Cards on January 28th, 2010
my little brothers membership is up and does not have enough money on his pre paid card to pay for it. so can i use some of the money off my card to help extend it?
Should we take money our of our 401k to pay credit cards?
Posted by admin in Credit Cards on January 27th, 2010
We have $20k in credit card debt. Should we take a loan from our 401k to pay them off. My wife and I are in our early 30s and have time to smooth things over…hopefully.
How do I get money to pay credit cards and medical bills?
Posted by admin in Credit Cards on January 26th, 2010
I’m barely making ends meet working two jobs and would like to eliminate or reduce my credit card balances as well as pay a medical bill. It’s stressing me out.
How to settle a credit debt?
Posted by admin in Credit Cards on January 26th, 2010
I was issued a summons to appear in court for a credit card debt, how can I settle out of court? I live in Illinois and I had a credit like with Capital One.
What are the top holiday destinations in America?
Posted by admin in Other - United States on January 25th, 2010
Which cities would be best as holiday destinations? New York, Los Angeles, Las Vegas? I was thinking Los Angeles because of Hollywood and stuff, but I’ve also always wanted to go to New York and Vegas. Where else is good? Also - and forgive my horrible geography - but how far away are these cities from each other? How long does it take to travel between these 3 cities, and how can I travel to and from (like train, etc.)? I really want to visit all 3 cities in the one trip, hopefully without racking up a huge debt…any way you can travel cheaply?
How can i consolidate all my debt, not just credit cards, but all onto one bill?
Posted by admin in Personal Finance on January 25th, 2010
I would like to find a place were i can put all my debt, credit cards, phone bill, speeding tickets, school loan, auto loan and what ever else i might have. Is there anything i can do to do this. My credit is bad i want to start rebuilding it, but i don’t make a whole lot of money a month. rent is my number one priority. I really want to take care of everything so i don’t ruin my future.
I have a lot of credit card debt close to $50000 from my business. What are some ways to clean this up?
Posted by admin in Credit Cards on January 25th, 2010
My business is still in the growth stage but we have racked up debt close to $50000 that is sitting on my personal credit cards. Should I transfer that debt to a large credit line under my company name? Will that alleviate the stress on my personal credit debt? or will that not matter because it is still my corporation? Any assistance with this matter is appreciated. I only hope to clear these debts sooner than later..Thanks
Pay down credit cards or save for a house?
Posted by admin in Credit Cards on January 25th, 2010
Now that the market is out of whack, I am guessing that lenders are going to make touger requirements for giving mortgages. I want to buy a house in 6-8 months. Right now I have about $2000 a month to either save for a house or pay credit cards. My debts including school loans are at $15,000 so it should be paid off after 8 months or so. My monthly minimum payments for these debts are $150.
Many of the house mortgages want a down payment rather than 100% financing. 5% down payment of the place we would want is $17,500.
So is it pay down debt or save for the house?
By the way, the lenders I have been talking to don’t look at my entire debt. They consider my monthly minimum payments when computing ratios.
Eddie J- If you can’t read, maybe you shouldn’t post here. To clear the confusion, I pay $2000 a month on credit cards. In 8 months, I will be paid off. If I save for a house instead, I will be paying the $150 MINIMUM payments for my debts.
Foresight: Due to massive debt and the devalued dollar, what will retail sells be like this holiday season?
What will that do to the market? Oh yea, that requires thinking beyond next week. Sorry.
Then there is also those high energy costs to heat the house…
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New neo-slogan “Don’t worry. Be happy”
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LoveMuffins (below) Ahh, but due to the litany of bad debt/credit, why would banks keep lending. Also, the subprime lenders have made their billions and are now going away.
Brian (below) Confidence ends where debt payments begin. Jus as with the housng market, the US is near it’s peak of debt. The air has to come out sooner or later. Thus it should occur this year.
B.Kevorkian (below) I think paying down debt will be the word for the day over the holidays.
Biggg (below) It does when the bulk of the stuff purchased comes from other countries. Are they going to drop their prices any lower than their cheap labor has already allowed them to?