Can you eliminate credit card debt by declaring bankruptcy? Can an individual eliminate credit card debt by declaring bankruptcy? I didn't think you could wipe it out, just get the bill collectors off your back. But, someone told me that it depends on which chapter of bankruptcy you use. The right one WILL eliminate credit card debt. I know someone who has $80,000 in credit card debt and they are trying to do that to get rid of that debt! Is it really possible? Are there any restrictions in doing this. Can you ever get a credit card again if you do it? If you file bankruptcy to eliminate all debt, do you have to give up ALL of your possessions? Will you have anything left? This is for a friend of mine (really). They don't own a home. They have 2 cars and some furniture and A 401k plan. Between the two of them they make about $40,000 a year. I don't see how debt consolidation will help them How could they EVER pay off $80,000!?! They had a house but they used up all the equity in it over the years and sold it recently and broke even on the deal, ending up with NOTHING! What a mess! I just didn't think they could wipe out their credit card debt! And, it really isn't fair to the rest of us that pay our bills!

What is the fastest and easiest way to eliminate credit card debt?? Estimated 6000 debt on high interest credit card....

How eliminate credit card debt.? When a card holder uses a credit card, he is borrowing from the credit company. How he eliminate his credit card debt.

What is the best and quickest way to eliminate credit card debt without destroying your credit score?

what is the best way to eliminate credit card debt without filing bankruptcy?

what is the best why to eliminate credit card debt? without morgaging the house.

What is the best way to eliminate credit card debt without having to pay a lot of interest if very little?

What is the best way to eliminate Credit Card Debt ?

Why Is It So Bad To Take A 401k Loan To Help Eliminate Credit Card Debt? I took a loan out a few years ago to help my girlfriend get out of some financial trouble and it worked out great. I paid myself back with interest. Now I want to do the same for myself, and I hear people saying NOT to do it? If it helps me out, as I cut up my cards in the process so they can't be used, why is it so bad?

whats good companies are there to eliminate credit card debt?

how do i eliminate credit card debt ?

eliminating credit card debt legally, is there a way? i hear radio commercials about: if u have more than $10,000.00 in credit card debt, that u can legally eliminate them, is this possible, and how?

Join the Military, eliminate your Credit Card Debt, Republicans say YES!? Republicans are posing a contract with various credit card companies, where if you join the military, your credit card debt will decrease as you serve in the military. I dont know if this is in addition to the already absurdly high signing bonuses, and paid college tuition. The problem here, is that even tho we have a volunteer army, we are luring low income, uneducated, and potentially now heavily in debt people. In other words, sending people to war, that the republicans dont really want in society anyway, which is why death tolls mean nothing to bush. You never hear of a rich kid joining the army, but you do see an awful lot of commercials geared towards african american and southern people <white and black, but the south is statistically the poorest part of the country>. This is not a mistake, it is designed to lure a target group of americans to join the military, and republicans, especially bush doesnt care if they live or die. Thoughts on the Debtors Army?

How do I go about eliminating my credit card debt? I am 23 with a nine-month-old son, and I owe (on top of my student loans from college) approximately $30,000 in credit card debt. I am looking to do a debt management/consolidation program, but was wondering if I should just contact those credit card companies that say to call them if I have "financial difficulties" instead? Also, which debt consolidation programs would you refer, if any? Thank you!

what are the (1)problem (2)cause (3)solution of eliminating credit card debt? for a persuasive speech, i need to persuade my audience to eliminate their credit card debt, i need: 1. describe why credit card debt is such a huge problem 2. the cause of why people have so many credit card debt 3. solution of eliminating credit card debt please give me some ideas and where i should go to research this

Is it a good idea to tap into my 401K to pay off credit card debt? This action would totally eliminate my credit card debt.

What is my best option to start eliminating my credit card debt? I have two student credit cards, both from citi one for $2000 and the other for $1200. They are both nearing their credit limits and i was late twice on payments so both of my interest rates are at 32%. ive tried to talk to citi about lowering my rate and transfering my balance but they say i cant at this time. i can keep up with the minimum payments for now but not much more and with each month my interest rates keep bringing me closer and closer to my credit limit which i do not want to go over. What do you suggest I do? Do you think i can try to go to a bank or different company and transfer my balances. i would think they could tranfer the balances to a $3000 card with a lower rate. im not a homeowner either. and not yet 21. so other loans are not an option to pay them off... HELP!!!!

I need to eliminate $11,000 in credit card debt. What should I do? AMEX decreased my credit limit, increased my interest rate than charged an over limit fee when the new finance charge took me over the new credit limit after I paid $2000 the previous month. They did all this without contacting me until I received the bill. Is this legal? What recourse is available?

get rid of credit card debt with out reposesing? eliminate credit card debt for good with out repossessing and get out of debt fast.

What is the most credit card debt you eliminated in one year? How did you do it? I'm looking for inspiration so I can get this damn debt out of my life!

Should I consolidate my credit card debt? I have about 30K in credit card debt and I have good credit. My payments are about $800.00 a month and I want to eliminate my debt fast. Should I consolidate my credit card debt, or will that ruin my credit? I appreciate your help.

Consolidate debt? Too many credit cards? How can I eliminate debt with out it hurting my credit score? Consolidate debt? Too many credit cards? How can I eliminate debt with out it hurting my credit/fico score? Do the consolidators companies hurt your credit?

need help eliminating credit card debt?

I have 4k in credit card debt, I can settle it myself now for 2,800, but how much will that hurt my credit? I can eliminate this debt today by paying this card off and keeping the much needed $1,100 it will save me, but will this cause too much of a negative impact on my good credit to make it worth keeping the money?

Help with credit card debt? I need some advice to help my husband and I eliminate our credit card debt. We have 6 credit cards (including store cards and bank credit cards) with about a total of $9200. I usually pay more then the minimum payment. Is it better to pay of the small ones first and then tackle the larger ones or should I pay off the bigger ones first, because we pay more interest on them. We have a goal of paying them all off within a year. Any other advice would be appreciated! Thanks!

I am over $40,000 in credit card debt, what agency can help me eliminate or consolidate all debt.? There are so many agency out there, cannot decide which one will be more beneficial or helpful. Thank You

is there such a thing as debt rsolution or debt invalidation with credit card debt? can you eliminate your credit card debt using such procedures

Has anyone ever used a debt management service? How did it affect your credit rating? Would you reccommend it? I want to eliminate the rest of my credit card debt. I see the ads for debt management services where they work with your creditors to reduce your interest rates, then combine all of your debt together, where you pay them one payment per month. My husband thinks this will reflect negativly on our credit report. Has anyone ever done this, and were you succesful in eliminating debt? Did it affect your credit rating in a nigative manner? I think that most people in America today, have alot of consumer debt, but I see many poeple who aren't worried about it, and only pay the monthly minimums each month. I have been there before, but I am ready to pay it all off. What do you think? I would love to hear from anyone who has used these services before, or any other great idea to pay it all off, without taking out any more loans. Thanks!

Pay off credit card with fixed home equity draw? My 48 y/o sister has asked me a question and I don't want to give her bad advice. Here's her question and her stated financial info: Should they pay off balance on their 8.25% (prime for life) credit card (with a long and excellent credit history) and put that balance towards their home equity loan? Both have high FICOs. They currently have a 1st mortgage of $200K fixed at 4.25% until 5/09. They also have a fixed (locked in) rate of 7.65 on their home equity line at a 10-year term with a current balance of $50K ($18K avail). Their home is worth between $550-580K. They only have one credit card they use, but it's $12K (prime for life) currently 8.25% and she makes at least double the monthly payments in an attempt to pay down. They would like to eliminate the credit card debt if possible to be able to save more and not feel so stretched each month. Plus one teen now needs a car (more outflow). Banker will lock addt'l draw and combine both for 7.6%. Yearly income $90K. Advice? Forgot to mention that mortgage is $1375/month, she pays $700 on equity loan (min $685), and she pays $700-1000/month down on the credit card. If CC was eliminated, the banker told her the new lock on the equity loan would make that monthly payment $763, which she could also pay more down on with no penalty. She's really nervous about fooling with the equity in the home because of their old(er) age. Should she keep things as is and pay down aggressively or transfer to current home equity or other great idea? Thanks again.

Any recomendation for a credit card debt consolidation firm? A firm that you ve been satisfied with and helped you to eliminate your debt with a competitive rate (i,m florida , miami area)

i need to find out if credit card companies can garnish wages or only payday loan companies? also is it more safer now to do bankruptcy then before for eliminating credit card debt

can i get a mortgage with 25%down with bad credit about 6000.debt house is under 50.000.what can i do? is it possible to join my bad credit amount to mortgage so i eliminate credit card debt ?

How do I eliminate my debt w/o destroying my good credit score/history? Eliminating all my $60K credit card debt ASAP. Reducing most of my debt just enough to buy a home. My main priority/goal is to purchase a home around $200K. I've been online seeking all kinds of cards with 0% APR on balance transfers of atleast 12 months and with $0 Fee to initiate the balance transfer... and I'm ready to start submitting applications as soon as you're finished reading this message. I have had my first credit card since Feb-1996. I have never defaulted not even once. My income is about $38K/yr and my debt started growing from $0 to $60K about 5 years ago. My debts are: one Citibank VISA card $14K about 18% interest (CREDIT LIMIT $15K), one American Express $14K about 15% interest (CREDIT LIMIT $15K), one Discover Card debt of $6K about 18% interest (it was $18K but I was able to transfer most of it to my Mom's Capitol One), Dicover Card immediately reduced my credit limit to about $6K... continued...

Need Help with Credit Card Debt? I have about $20,000 in credit card debt. I just need a debt payment plan that would allow me to pay the debt off soon. I don't want to go through credit counseling agencies because they can sometimes be worse than the debt itself. Please give me tips on how to eliminate this debt soon.

Can you eliminate credit card debt by declaring bankruptcy? Can an individual eliminate credit card debt by declaring bankruptcy? I didn't think you could wipe it out, just get the bill collectors off your back. But, someone told me that it depends on which chapter of bankruptcy you use. The right one WILL eliminate credit card debt. I know someone who has $80,000 in credit card debt and they are trying to do that to get rid of that debt! Is it really possible? Are there any restrictions in doing this. Can you ever get a credit card again if you do it?

What is a good credit card to get out of debt? I am looking for a credit card that has a 0% balance transfer APR for 9+ months. Preferably, I need it to have a $0 balance transfer fee. I have okay credit (720-740) and I make about $20,000/year and I need to eliminate $3000 of credit card debt. Any advice you have would be appreciated. Please do not tell me that I should not live beyond my means. I will report your answer if you do. The problem is that I have $3000 in credit card debt on a card with 24% interest. I have tried to no avail to get them to lower it. I had my card up to $2000 last year and paid if off with money I got from graduation/birthday/Christmas and called them when it was at $0, told them I wouldn't use it until they lowered my interest rate and they said no. An emergency came and I had to use my credit card so now I don't really have that argument anymore.

How do we get out from over $30,000 in credit card debt? Hi. My husband and I are in way over our heads & I would really love some helpful ideas. We have $30,000 in credit card debt, $15,000 in car loans, & a home loan for $145,000 (worth $180,000). I work 3 part time jobs & my husband works 1 full time & 1 part time. We bring in about $60,000/year & we have two kids. I work from home for one job and the other two are when my husband is home. That way we don't pay daycare. My daughter is special needs and needs to be enrolled in a preschool to help her development, this is $250/month & cannot be eliminated. We do actually make it every month, by the skin of our teeth but we have no savings & every time something goes wrong (the stove breaks, the fridge starts smoking, etc) it causes major problems. We don't qualify for home equity loan b/c our debt ratio is to high. We don't want to be rich we just want to be able to do fun things like go to a movie together instead of not being able to b/c we need to pay the gas bill. Any advice?

Quick (LEGAL) ways to eliminate debt? Now, I have this credit card debt...it is not like a huge amount, but my husband is really after me to pay it off. So, any ideas on how to quickly pay off roughly $5000.00 in debt? Looking for new ideas that are easy to do. Thanks!

My credit card debt is $2500. My APR is %23.49. Can u give me any tips hints, should I do a transfer? Please name a few options that i have to help me eliminate debt. After all expenses of the month, I have about $330 left from my paycheck. I wonder if I should do a balance transfer or if there are any other options. thanks

Time to re-mortgage my home to eliminate ccd debt.? I have about $30,000 in credit card debt due to a layoff (I am otherwise highly responsible). I have 30K in home equity. I have very good payment history on my credit (I make double payments on my car, 10X the min. on my ccds). For the last 2 years I have played the credit card companies against each other with 0% interest offers. However, it appears my luck has run out because now they wont give me large balance transfer offers anymore. I have been sending about 2K per month towards credit cards so I have plenty of excess monthly income. My other 0% offers expire in Nov. Is it time to re-mortgage my home to eliminate that debt (I cant do home-equity in Texas)? Is it worth the closing costs and higher interest rate (current rate 5.15%) to take that route? As it currently stands, the 30K will be gone within 2 years without the re-fi the house. Please advise. Thanks! To the person who said: Don't Carry Credit Cards. When you have to be laid off for 1.25 years and you go from a 6-figure salary to 1/4 of you are used to working freelance, thats when you HAVE to turn to credit cards. That was what they were CREATED for.

Has anyone heard of J D H Associates from NJ? This is a debt consolidation company.? I was recently contacted by a firm identifyng themselves as J D H Associates from Timpton Falls, NJ. They offered to eliminate my credit card debt in 18 months. Their charge would be .15 on the dollar and claimed that they could get the credit card company to accept .55 for every dollar I owed. This would eliminate 30% of my debt. Has anyone dealt with this company? Can they do what they say they can? Is there a way to check out their legitimacy?

is there anyway to eliminate student loan? is there anyway to eliminate student loan, as we could eliminate credit card debt through filing bankruptcy, what about student loan, do we have to pay it, even though we were extremely poor?, what's the solution?

How can I reduce my debt with the following situation? I own my home. My first mortgage is $380,000 my second mortgage is $90,000. I have approx $60,000 in unsecured credit card debt (approx 12 accounts). My home has dropped in value by about $40,000. What are my options? I would like to eliminate all my credit card debt and have at maximum 3 accounts to lower my monthly payment. (1st mortgage, 2nd mortgage and other debt). Does anyone have advice on how I can do this? My credit score is 670. Thanks

Credit card debt vs retirement account.? I'm 37 years old and I just went through a divorce where I assumed 15k in credit card debt at 12% interest from my ex. I have 175k in a retirement account through Fidelity. Should I withdrawal 15k out of my retirement account and eliminate this debt or pay 1,500 a month until the debt is gone?

What is the difference in Chapter 13 and Chapter 7 bankruptcy? Please give answers that are EASY to read and not the ones that I can search online w/ tons of legal jargon. I am trying to really understand this.. questions I have are: what's the difference? which one can you keep your cars in? which one would one need to eliminate credit card debt only?

$5,300.00 in Credit Card Debt! Help!? Ok my fiancee and I have $5,300.00 in credit card debt right now we have on 4 cards! We have asked for limit increase to try to add all to one card to have ONE monthly payment! And no luck! I have also tried applying for personal loans, and got declined! I don't want a credit advisor! I need help lowering or eliminating my debt! What can i do? I refuse to declare bankruptcy! Thanks for your help in advance!

Paying off credit card debt? I have about $10,000 in credit card debt. I hate having this and prefer to get rid of it asap. I expect a $4,000 bonus from work this year. We are considering cashing in my wife's IRA - $5,000 (subject to penalty - 10% federal). I expect our tax refund next year to be about $2,000. All in all, I expect that our debt would be eliminated by February 2008, given we are working in a budget now and doing a good job with it. Should I cash in the IRA or continue to pay off little by little?

Is there a such thing as "canceling" your credit card debt? Just yesterday I received an unsolicited email about a a credit card debt cancellation service called DebtClear. Coincidentally, I'm now looking to get out of debt so it's peaked my interest. However, I want to be careful. The program (called Court Mediation Services) explains how it can legally eliminate your debt (usually in several months) and get your credit re-established. Supposedly their organization is a team comprised of debt management specialist and debt attorneys... It sounds good but I have some suspicions. I filled out a simple opt-in form and they sent me to this url: http://www.debtclear.com/programs/5877587?nid=74923. I want to know if anyone has heard of this organization before or what kind of results they had with it. Anybody have any info on this?? Thank you kindly to all who can offer some help...

What are your thoughts on the company "Freedom Debt"? The company takes your credit card debt (Visa, MC, Amex, Discover) and makes arrangements with the companies to eliminate your debt. Your cards are cut up and during this process no more debt can be incurred.

College student trying to break free of credit card debt, any solutions? Im currently in debt for $3300 I got my first credit card and went nuts, this was 2 years ago... Ive been trying to pay off this debt for a while now. Part of the problem is i have no job! And my parents refuse to supply me with the funds to eliminate this debt. at one point i missed 2 payments and they jacked me up to 20 percent APR! What can i say or do to help break free of this debt. I know getting a job would be nice, but I'm a full time student and my current college schedule leaves me unable to work. Im extremely stressed out. Maybe i will be able to get a job next semester with a better class schedule, but as for right now im making min payments. Is there any programs or solutions out there for someone like me? Btw credit cards are cut up and not being used EVER AGAIN. I pretty much learned my lesson. my credit card debt has caused me a lot of stress. I purchased shit i didnt need! All my classes end at 6pm so 9-6 im in class everyday except Tuesdays. Friday weekends are free. Its really tough finding someplace that will hire me.

How can I persuade a credit card company to settle for less? Can u eliminate debt by writing letters? I heard there's ways to pay off debt for like 10% - 20% of what you owe. I'm just wondering how this works and how I can do it. I need to get out of debt fast as I need to rent an apartment. I would also like to get a new car, but I am $14,000 seriously past due. Please help me. This is getting so out of hand. Everytime I turn around I have another bill. I know I need to stop spending. I plan on buying that Rich Dad, Poor Dad book soon, but I just want to get out of debt. I will be working an awesome job this summer and it would be a shame if that money went to waste on something. Which is why I'm looking for advice now before it gets to be too late. I am looking at about $5 grand to credit card companies, $5 grand to hospitals and $5 grand to banks and old phone bills.

How should I eliminate my debt? I my wife and I have 3 credit cards that have very high intersted!? The interest rates and balances are as followed. 16% on 4,000 with a 5 thousand dollar limit. Minumum payment of $125 9% on 5,000 with a 5,500 limit. Minumum payment $150. and 14% on 11,500 with a 12,500 limit. Minumum payment $250 How should I go about paying these off as far as order and amount if I have about $1100 a month for credit card bills? My wife and I just got out of college and are just starting to work new jobs. We make a combined 87K. We haven't used the cards in 5 months since we started working. I just wanted to know the fastest way to pay them off.

Are credit management companies a good idea to eliminate debt? I'm going through a credit management company to help me lower my debt. I am about $15K in the hole with various credit cards and department store credit cards. I mailed out cease and desist letters to each of them to quit calling me, because I get calls every day at home, and even a few times at my job. Let me know your experience(s) with this.

Is this bad for your credit? My wife and i are considering using a 3rd party debt settlement company to help us eliminate credit card debt. We are very much in debt and our credit is not great. Does anybody know what type of effect this would have on our credit one year down the road? 3 years? 5? 10? anything? i need some help and advice with this situation. All answers would be great

Can your credit status eliminate your chances for a job? I dont have any bankru. or liens but do have outstanding credit card debt. My crdit score went from 700 to 430 in 4 months with unpaid credit card debt. I have been unemployed for 4 months.