samcar Posted November 9, 2009 Report Share Posted November 9, 2009 (edited) Hello forum, When my wife and I got married, she had some credit card debt. We worked really hard the 1st four years of our marriage to repay that debt and we did. Recenlty, We had to relocate because of work ( really, the shortage there of ) and we had to rely on some credit cards to get by while we looked for employment. This is the 1st time in my life that I saw how easy it is to build up card debt - and I really don't know to much about avoiding debt, or getting out of debt. When we were paying off my better half's debt we were in a great finance situation - I was in school and I had grants and a stipend that enabled us to take care of our basic wishes so any 'extra' earnings ( ie paychecks ) went to help pay off her debt. So here in my cluelessness I ask - what are some basic paths to avoid debt or get out of debt?And what is debt relief? Edited November 13, 2009 by Amerikaner83 check the link now! :-) *wink wink* Link to comment Share on other sites More sharing options...
trueq Posted November 9, 2009 Report Share Posted November 9, 2009 1.) Pay it. Whether its in full or negotiate for a lower amounts. Credit cards are settled for 20-40 cents on the $ regularly by people on this board. You can negotiate yourself.2.) Declare Bankruptcy.3.) Stop paying and fight. This is much more complicated and not reccomended unless you are protecting assets.Debt settlement companies are all scams.Doing anything other than 100% payment is going to wreck your credit.If you have a fixed mortgage and no need for credit, it means very little. However, if you need good credit for a home purchase or re-fi, this can be very bad. Link to comment Share on other sites More sharing options...
astiman Posted November 10, 2009 Report Share Posted November 10, 2009 In answer to your question, "samcar"don't spam the board.....with links to bogus DR organizations...... Link to comment Share on other sites More sharing options...
Tamara Holmes Posted November 11, 2009 Report Share Posted November 11, 2009 (edited) It can be hard to carry out such ways. Automatic transfers are a good way to do this, where you set it up so the savings is taken out and to your savings account automatically. Locking savings that you know you will not need in a CD is another good way to keep yourself from spending it on things you want but don't need.It is also a good idea to only have one credit card with a limit that you know you can afford to pay off every month.1. Don't spend what you do not have.2. Pay your whole credit bill on time every month.3. Put your money in saving and transfer only what you need to checkingFor more info you can easily visit the site: http://www.creditinfocenter.com Edited November 13, 2009 by Amerikaner83 Links are good! :-) *wink wink* Link to comment Share on other sites More sharing options...
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