Q: Is there a way to get rid of credit card debt (or lower it) without it harming my credit in anyway?
There's about 16,000 dollars in credit debt that we owe. We currently pay 2000 a month towards it, which is well above the minimum payment. At this rate it will, of course, take 8-9 months to pay off. It would be nice if there was another way to make the debt or the interest lower. We call the companies and ask them to lower the interest rate, and they do, but then raise it back up the next month. Transferring the debt to another credit card is not really an option we are willing to take. Does anyone have any direct experience with this?

A: you are doing the right thing by paying more than the minimum payment every month, just keep calling every month and ask them to lower the interest rate, always ask for the supervisor when you call and also ask for his or her name or a confirmation # when you call, just don`t give up. you are doing great.

Q: What does default on credit card debt mean? do i still get charged intrest & extras in default of payments?
Sometimes i get letters from credit card debt angencies saying i owe the same balance that i had for 6 years, but sometimes shows more balance with intrestest but only one letter said this, the rest all had same balances which were 6 years ago when i was in debt of $2,000, but one letter said $6,000, i have not replied or ever gotten back to the debt credit card collectors, agencies etc, so whats going on, does default mean no intrest charges?

A: Default means you have failed to pay as you're supposed to. If it hasn't already, the debt collection company will usually go through the courts to recover the money owed by you. If it's over six years (I think it's six, could be seven) since you acknowledged the debt, then they may be too late to go to court over it, but may continue to contact you in an effort to get you to pay. If it has already gone through the courts, then you will have to pay it, and until you do, interest will be increasing the total owed all the time.

Q: Credit card debt?
I know this may seem like a silly question, but I don't have many people to talk to about this so I wanted to get a variety of opinions. I am a 20 year old college student, I was living at home until my mom lost her job and kicked me out. (she is an alcoholic and very mean) I just got an apartment that is 500 a month. I live in it with my boyfriend who graduates college in a month and will hopefully get a job asap. I have two credit cards, one has 800 dollars and the other has 1100, for a total of 1900 dollars in debt. and now i just found out my dog has a tumor, and I am getting the care card to get her surgery done, and get both my dogs spayed, so it will cost 1600 dollars. So I am a sophomore in college, only half way done, and I have 3500 dollars in credit card debt...is this really bad? I saw my mom get in trouble with credit cards and I don't want to mess my future up, I just don't make a lot and am trying to support myself. What is considered a lot of credit card debt?

A1: As long as you pay your minimum each month on time, you will be fine. It's okay to use your credits, just don't max them out, and make sure you can pay in a timely manner. In the long run, it'll help you build credit, so you should be fine.

A2: Hi, I'm also in college, graduating this year though, but relatively new to credit cards. I read somewhere that it's not good to have outstanding balances on credit cards that are greater than you can pay off in four months. So make a plan and see if you can find a way to pay off your debt within four months. And to then make sure you can pay off future credit card bills monthly in full. Some ways to get money are to get an on-campus job (even working 10 hours a week is doable and will give you $75-120 dollars, 15-20 hours is more realistic if you want to make money towards expenses and not just daily living.) Also, you could apply for additional loans, it's better to have more loans now and finish your school than have to drop out of school or get credit card debt.
There are resources to help you out, so talk to an advisor at school or to the financial aid people (in the office that you pay your tuition) and see if they can give you more ideas.

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