Bad debt credit card

Questions and Answers

(?) bad credit card debt ,can i call to make payment plan after being summons to court?

Q) i didnt pay a credit card and they summons me, i have 30 days to respond to the court or if i dont show up they will win and be able to take anything or ect. it says its to late to call them ,my ? is if i send a payment will this stop it or can i still call to set up a plan thanks so much

A) The credit card company won't accept the payment as it has went to court,they can call the baillifts in so be carefull they are a@~holes.

where can i get a debt card when I have bad credit history?

Q) I bank with a well known high street bank. Unfortuately due to circumstances i have a bad credit history. My bank will not issue me with a debt card. However, all I want to do is to open up an account where I can pay money in and take it out. I am not after any credit just purely the means to pay bills and shopping etc over the phone . It seems simple, if I have not got the the money in the account I can't pay as I don't even want an overdraft. Is there a bank or facility like the post office who can provide this service.

A) You can get a prepaid debit card without any problems with bad credit. These work in the same way as normal debit cards, but you have to put the money on first before you use the card, which you can do by bank transfer, or by cash at some shops. These cards allow you to buy online or in the high street the same as normal cards. There is a small charge (up to £10) to get the card, and then small fees for topping up the card. Have a look at the site below which explains more about them and displays all the costs associated with each card.

A friend made bad decisions and got in bad credit card and unsecured loan debt in UK.?

Q) (About 50k between various cards etc)In a panic, he has defaulted on payments and disappeared for a while. He intends to go to Europe for a while and sort himself out so that eventually he can try and sort out his debts back here. How likely is it that the banks or debt collectors will issue him with CCJs if he has no known address in UK? And are the banks likely to investigate him for fraud if he disappears for a while, even though he wants to resolve the problem when possible? He is very scared that he may be arrested at the airport leaving or returning to UK.. (He badly regrets it believe me, so please no smart ass comments...) Any info from people who are in the field would be greatly appreciated! Ps, my friend does not know I'm asking for advice!)

A) Whether or not there will be any criminal proceedings regarding his outstanding debts depends on the nature of the debt and whether or not the credit facility was taken out fraudulently. If he committed fraud taking out the loan (giving false employment details, false names etc) then he could face criminal proceedings. This is an unlikely thing, but possible. They would not deem it fraud if he disappeared for a while, UNLESS he took out the credit so that he could disappear. This would be taking out credit facility with no intent to repay, but the amount would need to be considerable in order to make it financially worthy for the company to get lawyers to take your friend to court (it's all a costly business). We're talking hundreds of thousands of pounds. Your friend will get CCJ's and defaults regardless of his current address. They will all be done against his 'last known' address, which is all the law requires. It is highly unlikely there will be any police waiting for him at the airport (unless he has committed MAJOR fraud and even then they would need to know he's on his way!). Most companies will be glad to hear from him and will enter into payment arrangements. In fact, all of them will.

If a credit file has no bad debt on it?

Q) And the person has no credit, how can that person get a bank account? This person doesn't beleive in credit, debt ect. Would this person have to apply for a credit cards or catalogue in order to get the bank account?

A) I work for a bank...The Halifax and you dont need bad or good credit to open the basic account it is called the Easy Cash account. It doesn't come with an overdraft or visa debit card...its a visa electron....every bank offers an account that has no credit check....If it is a visa debit and overdraft account you require then you would need to use you basic account for 6 months as your full bank account in order to build a relationship with the bank. once done that, providin you have had no charges. the full debit account would be yours with no credit cards needed. applying for credit cards first would only lower your rating and ould need to wait 6 months anyways to build it back up. So this is a far better way to not lumber yourself with cards and other credit you dont need. hope this helps.

How do you get a bad credit rating?

Q) I have a bit of credit card debt, which I'm paying off easily, but what do you have to do to get a bad credit rating?

A) Don't pay it. That'll give you a very bad credit rating..

i have bad debt threw various companys. i would love to be able to just try and put this right.help?

Q) i have bad debt, but i have recently had a baby and id like to apply for a credit card, pay off my debts and buy some stuff i desperatly need out of it too. but no credit card i apply for accepts me. does anyone know how i can get any money quick? (I am not in a position to go back to work yet) or any credit cards that accepot bad credit history or loans etc?

A) There are loans you can get but with no solid proof of repaying it, they will not touch you. You would be considered a risk. The worse thing you can go is to get into debt when you have no job and a new dependent. The last resort would be Provident but they charge really high rates because they come out to collect the money every week.

Has anyone else been through County Court Judgement procedure for credit card debt?

Q) Did judge order you to sell house? Was it not that bad? Did you just go on with reduced payments ? Am having panic after not particularly nice letter from creditor's solicitor. Yes I know debts are my fault and I AM repaying them albeit slowly.

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what's the worst thing that can happen to me by not making credit card payments?

Q) I left University around a year ago and have about £2500 on two credit cards. Since I've moved back I have severely struggled to find work (mainly because I live in as small village and have no car), and hence have been struggling to make payments. I have kept my creditors informed as much as I could about my situation but they're now sending extremely threatening letters, suggesting I could go to prison if I don't repay the entirety of what I owe very soon. I have tried to get a definite answer off the web but couldn't, but surely I can't go to prison for simply not paying off a credit card debt?! I was always under the impression that the worst case scenario was being unable to obtain credit for a few years?

A) Are you paying interest on your card debt? If so, its probably at a very high rate. You could be far better off moving the debt to a lower rate loan of some sort. Talk to Consumer Credit Counselling Service 0800 138 1111, National Debtline 0808 808 4000, or visit your local Citizens Advice centre. I know this doesn't directly answer your question, but it may prove more useful in the long term.

How can I clear the bad credit history at my new address?

Q) Bit of a long question, but basically, I've never had problems applying for and being accepted credit, but I moved to my new address a few months ago and found out that my credit score here is only 395. A few weeks ago a debt collector came, and I found out the person who lived here before had a debt of over £7000 on just one credit card alone. Her post is still delivered here, and though I don't open any of it, I can tell they're from debt recovery agencies, and companies she still owes money to, etc. I don't open the door to debt collectors now because I know how they work, but since I moved here, about 9 different debt collectors have visited so far. It's getting on my nerves now. I dread to think how bad the credit history is at my new address and can't believe anybody can be that stupid, as well as selfish. I can't get accepted for anything now. Does anyone know how long information stays on credit reports, and is there anyway to completely clear it/start a fresh, etc? I can't open somebody else's mail - it's illegal. I just send it back as "return to sender" and hope they eventually get the message. Doesn't really help with my question though ...

A) Credit is no longer connected to an adress, only to a person. It used to be connected to an address, but this was stopped a while ago. So even if the previous person had bad credit, it will not affect you at all. This means that the problems must be connected to you, so you should get copies of your credit report from Experian and Equifax, to see if there is anything recorded incorrectly. Both of these have websites, and you can pay for an up to date detailed credit report on the sites, or for £2 you can get a less detailed credit report sent out to you by post.

can a credit card company or debt company take u to court?

Q) I am struggling with sum debt at the mo..i was fine paying it all off before i was sighned off work with depression and whilst some creditors have been ok a couple are sending me letters saying they will take me to court...can they? i have offered them a fixed monthly fee til im back at work and its silly that the debts are less then 500 and they are threatning me when i have one creditir who i owe a few thousand too who are more then happy to wait. the stress of this is just making my depression worse and i dont want to feel suicidal again like i did when i was at my worst..please help! oh..another thing..i get 303.00 a month... once 100 is split between my creditors i have 200 too live on..50 a week...i dont understand where they think i can get the money from!

A) Yes, unfortunately they can take you to court. However, this is not a criminal court, and you don't even have to turn up if you don't want to. Basically you end up with a CCJ, and the judge orders you to pay. It ruins your credit rating! You can put in a defence though with your incoming and outgoing money, and the judge will only order you to pay what you can afford, can be as small as £1 a week! So sometimes, although it ruins your credit, it can be a blessing, as you are ordered to pay less than what the credit card company would want you to pay. It is better to try and make an arrangement with the company yourself though, and save your credit rating. Its not really worth companies taking you to court for small amounts of money, but they threaten it to try and get you to pay. I`m sure that you can come to a private repayment arrangement at a monthly fee you can afford. If you set this up though, its VITAL that you stick to it! Go to the CAB and they should be able to help you to organise your finances and sort out arrangements with your lenders.

bad credit card debt, sold to another collection agency. How long until goes away?

Q) I was one of those dumb 18 year olds who accepted every credit card offer that came in the mail. I have all paid off now accept one. It went to collections in 2002 and was recently sold to another collection agency. I understand that after 7 years your debt is sopposed to go off your credit report. Now that this debt was sold does the 7 years start over or will my 7 years be over next year?

A) The 7 year reporting period begins from the date of delinquency. NOTHING can reset this 7 year clock. If you missed a payment on 1/1/2000 and never brought the account current, the negative mark must be removed 1/1/2007. If this went to collections in 2002, it will come off your report this year or next, depending on when you actually became delinquent.

Can a collection agency report a bad credit card debt if they do not have written records?

Q) I was contacted by collection agency an account that was charged off 8 years ago. They said they bought that debt and are reporting it on my credit. I asked for written records with my signature to ensure that it was a real account that I opened. They said that it had been validated by the orginal credit card company, but they could not supply any records with my signature. Can I have that removed if there are no records with signatures showing that I ever opened that account?

A) Since it is a credit card debt and it was charged off 8 years ago, the collection agency is violating your rights by reporting it. A credit card can only be reported for 7 years from the first time you became 30 days late and never brought the account current leading to the charge off. It cannot be re-aged to report for a longer period. I would suggest doing "everything" in writing and sent certified mail return receipt - create a paper trail to use should you decide to sue the collection agency. Order your paid reports. Send the collection agency a debt validation letter. Do not sign the letter, print your initials or type your name. When you get the green card back, file disputes with the CRA's. If the account is verified instead of being removed, file complaints with the BBB, FTC, your AG and the collection agencies AG. If the account remains, sue the collector for their violations. Chances are pretty good that you are past the collecting SOL for your state. Though you might click on my profile and click on the link listed to find the SOL for your state. If you are past the collecting SOL, after you do the above steps, you should send the collector a SOL letter. You might do some reading in the other links I have listed in my profile, to the FDCPA, FCRA and also the last link listed.

Is credit card debt settlement bad for your credit?

Q) I am a senior in college, I have no job now as I am finishing school. I start work in June, and I actually have good credit, over 700, and 5k in credit card debt. I've paid my bill in full always in the past until my last killer spring break. Debt settlement sounds cool to cut the debt in half which I would pay off with a lump sum, or should I just stomach it for another month where I can pay it all off entirely in full. Thanks.

A) You have not provided enough information but, if I understand correctly, your credit cards have not yet become delinquent, otherwise your credit score would not have been over 700. If you have paid at least the minimum payment on EACH of your credit cards for every statement, you are in good shape, as far as your credit history goes. Your credit score could be slightly damaged by your higher debt-to-credit ratio, but that is a minor concern, because it will be corrected as soon as you either pay off some of the balance due or increase your credit line. Or open another credit card. And with a score above 700 you will have no problem opening a credit card with a 0% balance transfer interest rate to transfer some, or all, of the balance on your current credit card. That should take care of the problem until you start getting paid. You will need to be careful though, as all banks charge a balance transfer fee of 3% of the total amount. Some banks, however, like Citibank and Bank of America offer credit cards with 0% balance transfer rate and $0 balance transfer fee on some of their credit cards. I would recommend browsing through their credit card offers. What will seriously damage your credit history for a long time is missing a credit card payment. It will stay there for 7 years, even after you settle with your creditor.

What's the easiest way to repair my credit score when I've already eliminated my bad debt?

Q) I screwed up years ago and I've already paid off those bad credit card debts. The only debts I owe now are a student loan (always paid on time), a new credit card (paid on time and only used for emergencies), and a car payment (paid on time). How do I get my credit score to go up?

A) it is going up, slowly, month by month. The differences really show up at 6 month intervals.

Why do so many people on here with collections and bad debt want to know how to get another credit card?

Q) I don't understand some people on here. People whine about bill collectors and about their bad credit and how it is everyone fault but their own. They complain about being turnd down for a loan because of their bad credit etc. Why not just make payments like you are supposed to so you do have problems. I don't understand why these people that are in so much debt want loans and credit cards to go deeper in to debt? Can anyone answer????? I think even Studly would agree with me here. To China Doll- When I was younger I was there. But I took care of my responsibilities before I tried to get more credit and loans. I paid my dues. All I am saying herer is that people should pay off ther existing bad debt before trying to get more. I am not judging anyone, just asking what is going through someone head when they say "I need another bill, another loan, another credit card and I can even pay the ones I have now"{ DUH!! To improve your credit you must first take care of delinquent accounts. If there are still unpaid collections on your file, getting a new loan or another credit card will not help.

A) I was wondering the same thing. But I guess some people have good reasons, other than just trying to see how much they can get for nothing

Is it possible to obtain a US tourist visa if you have a bad credit card debt?

A) Of course.

Is 13,000 in personal loans and credit card debt bad?

Q) I have accumulated 13k in credit card debt and personal loans. I want to get one personal loan to consolidate all the debt. I have about a 630 credit score. However, I can't seem to get a personal loan to take care of all that debt. What are my options?

A) You might try prosper.com I have never used it but have been checking it out as a place to invest a little bit.

I cant find a job! i was fired and i have been out of work for 6 months now.Im going into bad credit card debt

Q) I have been looking but im always rejected.Im 27 and all i have is call center experience and some retail.Id like a job making no less than $10 hr.Its making me very depressed.I dont understand why i cant get work.Is it because i only have a G.e.d. i dont know what to do please help.

A)

How much credit card debt is bad?

Q) I always avoided credit card debt. I own a home and I like to save money. i'm 27 and single and all my girlfriends go nuts with credit cards. I fell into the trap a little bit and now I have $4,000 debt. Is this good for my credit or should i just do what I can to just pay it off right away?

A) Having credit card debt is not good for your credit. Having and using credit wisely is good for your credit. I use credit cards, but only sparingly. I also keep the balance to under 10% of the available credit limit, and pay off the balance in full each month. Using too much of your credit card limit (i.e. over 30-50%) is not good for your FICO credit score. Pay the debt down as quickly as you can so as not to incur interest charges.

If you have bad credit card debt, and you inherit property & money, can they take it?

A) Debt collectors can take you to court and the judge may put a lien on any or all property you have until the debt is paid. If you do not make the payments set in court, you will have to fork over the property. However, there is a statute of limitations as to how long the creditor has to file suit against you. Click on the link to see what that is in your state: http://www.budhibbs.com/statute_of_limitations.htm