Credit Card Debt

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I have some credit debt left and I'm wondering if I should put the extra money I make from selling my home into the new house I'm purchasing or if I should go ahead and pay off the credit card debt. What is a smarter decision? Just wanted to say I'm not late on my credit card bills, just wondering if I should go ahead and pay them off in full right away

Best Answer

Have you lived in it for at least 2 of the last 5 years? If so, there's no capital gains tax from the IRS, and the money is yours to spend as you wish. Glenn is correct - This all depends upon what you'll do with these newly cleaned up credit cards..... It's a falacy that people can get out of debt by placing all their credit card debt onto their house. They usually run up their cards again in a few years and are then worse off than before. Put the money to the house. Start paying EXTRA to your credit cards. Start cutting up your credit cards. Then start sending extra to your house. FREEDOM!!!!!!

I got credit cards to pay for stuff, food, and books for college. My grades going down so i quit my job the cards went into collection and collection agencies. Can collection agencies sue me or bring me to court? Should i be worried 'cause i can't pay until i graduate with decent job in finance. My credit debts don't erase from credit report until 2009. I just wanna hide until i make some money.

Best Answer

Starting life with a bankrupcy doesn't sound a very happy beginning to me, why not get a credit card with ZERO interest for 12 months then pay the debt with it? However if you are not working this can be nothing more than a way of putting off the evitable but it will give you time asthough It really does little to correct the problem in the long term. That's why many people come back to debt negotiation as a way of getting out of their financial problems and starting fresh start. More here: http://finance.ebookorama.com also plenty more to read here http://credit.ebookorama.com http://credit-cards.ebookorama.com http://credit-repair.ebookorama.com good luck!

I have some bills that need payed off and I have one credit card. My question is if I go or contact a Credit counselor or Debt help business(Careone credit,debt relief agency) will they freeze my credit card account or put it on hold? My debt situation is not bad, but I've heard that if you seek help through a business that specializes in credit card debt or collections, they will freeze all of your credit cards. I am slowly building up my credit and I would hate to have them take my card away. Is this true? Any one that has or has had this problem or knows the facts please let me know some options.....Thanks!!!!

Best Answer

USually use a CC or Debt business when your bills are too much for you to take care of; and in that case, the last thing you need to do is keep charging; and in many cases, they will contact the CC company to get interest charges adjusted. IN all of these cases, you'll probably use the use of the card

I got credit cards to pay for stuff, food, and books for college. My grades going down so i quit my job the cards went into collection and collection agencies. Can collection agencies sue me or bring me to court? Should i be worried 'cause i can't pay until i graduate with decent job in finance. My credit debts don't erase from credit report until 2009. I just wanna hide until i make some money.

Best Answer

Starting life with a bankrupcy doesn't sound a very happy beginning to me, why not get a credit card with ZERO interest for 12 months then pay the debt with it? However if you are not working this can be nothing more than a way of putting off the evitable but it will give you time asthough It really does little to correct the problem in the long term. That's why many people come back to debt negotiation as a way of getting out of their financial problems and starting fresh start. More here: http://finance.ebookorama.com also plenty more to read here http://credit.ebookorama.com http://credit-cards.ebookorama.com http://credit-repair.ebookorama.com good luck!

I have some credit debt left and I'm wondering if I should put the extra money I make from selling my home into the new house I'm purchasing or if I should go ahead and pay off the credit card debt. What is a smarter decision? Just wanted to say I'm not late on my credit card bills, just wondering if I should go ahead and pay them off in full right away

Best Answer

Have you lived in it for at least 2 of the last 5 years? If so, there's no capital gains tax from the IRS, and the money is yours to spend as you wish. Glenn is correct - This all depends upon what you'll do with these newly cleaned up credit cards..... It's a falacy that people can get out of debt by placing all their credit card debt onto their house. They usually run up their cards again in a few years and are then worse off than before. Put the money to the house. Start paying EXTRA to your credit cards. Start cutting up your credit cards. Then start sending extra to your house. FREEDOM!!!!!!