Budget Tracker Word Document dl.dropbox.com Video Rating: 4 / 5
Question by deserthead: If I get married to someone who has credit card debt, will I be responsible for her debts?
Hi! Me and my fianace are getting readu to get married. She has $ 20,000 in credit card debt and I have $ 25,000 in credit card debt. If one of us dies before the otherone dies, would the other spouce be responciple for the others debts? We have no joint credit accounts.
Student loan debt has surpassed credit card debt in the US. One person has started the Occupy Student Debt movement. This movement is calling for US Congress to reinstate consumer protections that would keep private lenders from making millions of Americans into default. Marina Portnaya reports.
Question by Ripped off: What is the best solution to pay off credit card debt?
Looking to pay off approximately $ 40,000 in credit card debt accumulated over approximately 8 years while supporting a parent. My salary is good and all debt is kept current.I own a home but with little equity due to the current market. Which loan/solution is the best?
Best answer:
Answer by CatDad - If you have great credit and a good income, then get a loan to pay this debt off at a lower rate. If you do this, be sure to request voluntary credit limit reductions for all cards to $ 500 or so after they are paid off, otherwise you’ll probably end up in twice as much debt as when you started as it’s too tempting to start using credit again.
- Check out resources from Suze Orman and Dave Ramsey. Do the obvious things like cutting expenses to the bone and try to earn extra money. Google: Debt snowball method
- NFCC is a non profit organization that was set up by the credit card industry to offer assistance to people who are struggling to pay their credit card debt…and who may by considering filing for bankruptcy. They can offer reduced payments and interest (but NOT settlements for less). http://www.nfcc.org
- Stay away from any firm that promises to cut your debt and payments in half. These firms work by having you deliberately default on your credit card…a process that could cause you to be sued by creditors.
