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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit cards
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Tue Mar 18, 2008 1:39 am
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| On my credit card ( it's a $300.00 limit), I usually send a $40.00 payment, per month. However..the 'minimum' payment is $20.00. Can I ACTALLY specify if i want to use the 'extra' payment TOWARD a payment, OR the 'principle'? I din't know I could do this. |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Tue Mar 18, 2008 4:26 am
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I know that you can do this with a collection agency, when one is collecting on multiple accounts from a single debtor, but I am not familiar with this practice in relation to original creditors and a single account.
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I don't dream since I quit sleeping |
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charles.armbruster
Joined: 14 Mar 2008
charlesarmbruster's page
Posts: 27
Location: Mesa, AZ
1355 Magic Points
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Tue Mar 18, 2008 5:02 pm
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| I've never seen a spot on the return payment coupon where you can SPECIFY where the difference is to be applied -- I always assume it will applied against the balance due -- not the principal, since the accummulated principal and interest accrued becomes the balance due. |
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Laura
Joined: 21 Jun 2007
Laura's page
Posts: 1400
34749 Magic Points
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Wed Mar 19, 2008 10:48 am
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So how do we now understand how much principle or interest is left towards payment?
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Regards,
Laura. |
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charles.armbruster
Joined: 14 Mar 2008
charlesarmbruster's page
Posts: 27
Location: Mesa, AZ
1355 Magic Points
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Wed Mar 19, 2008 6:12 pm
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We don't! Credit cards are worst boon-doggle ever invented, for the consumer. We used to bo the bank to get a small loan -- now, we are "granted" the priviledge of borrowing untold amounts of money for whatever the market will bear -- i.e. - they charge whatever they can get.
Our minimum payments are only 5% of the balance due, if that. You'll notice that the bulk of any payment is the accrued interest -- the difference is being applied to the balance, but that includes the accumulated interest.
This arrangement is the chief reason people have refinanced their credit card debts into their tax-deductible mortgage interest home loans.
Credit card debt is free to get, but it is not cheap to own. |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Wed Mar 19, 2008 8:22 pm
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| Quote: |
| Credit card debt is free to get, but it is not cheap to own. |
LOL
Ain't that the truth!
_________________
I don't dream since I quit sleeping |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit cards
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Mon Mar 24, 2008 10:19 am
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| I've been looking at different companies that can 'consolidate' credit card debt. However.....you don't 'qualify' if you don't have credit card debt that is underso-much of an amount (ie..if you have LESS than $5000.00 in Credit Card debt). OR..if you don't have a ZILLION dollars of overdue bills, you don't 'qualify' with some companies. Boy....that's frustrating, when you are trying to help yourself. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Mon Mar 24, 2008 10:52 am
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I agree sdchargers, if we had perfect credit would we be going to these clowns in the first place? Sounds goofy, huh. Hopefully you will find one that is not too crazy on intrest, that seems to be the problem when we get ourselves into this pickle. goodluck.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Mon Mar 24, 2008 5:43 pm
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| I think very few have excellent credit. Nobody sails through life without hitting a rough spell. I'm sure their are actually few out there. I wish they would offer help to the ones whom don't have "considerable" debt. $500 may be alot to some one making $50,000 but to someone who only makes $20,000 considerable debt would be $2500. When you relize you need help it would be nice if it was there. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Tue Mar 25, 2008 2:11 am
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Gotcha, unforturnately it does not work like that, the rich get richer and the poor, well they stay poor and the rest of us go to work every day.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Tue Mar 25, 2008 11:31 pm
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| very true...sooo very true |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: debt
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Thu Mar 27, 2008 5:09 am
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| Companies ARE there..........however, I'm not giving half my income, to them. As I do more and more 'research', on Consoladation/Settlement Companies, I'm convinced they are there to help ONLY the 'high income'. I agree with ya'll above. It would be more accurate ( I think, anyway..) to take care of debts ourselves. Besides..it's free if we do it ourselves. I understand alot of people want a 'quick fix', but, it doesn't happen that way. 'Time' will help. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Sun Sep 21, 2008 4:23 am
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Yeah, and sites like this where you can get all the advice you need. How are you doing with everything??
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: debt
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Sun Sep 21, 2008 12:12 pm
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| Well, GOODNATURED.......to tell you the truth, everything seems so 'disorganized' ( lack of a better word). I seem to get my 'ducks in a row' and something happens. THIS brakes down or THAT comes up. The one and only credit card I had I cancelled. Just seemed like I would never 'get ahead' on it. The payments went up and the fees and % were just soaring! A few times, I made late payments and only had the money for the monthly payment...NOT the late fee, so it seemed like I din't make a payment at all. Make sense? With everything else......I'm just taking day by day. .....looking at some 'small' debts and seeing what I can do with them. All of this can get overwhelming. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: debt
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Sun Sep 21, 2008 12:15 pm
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| I wanna add, too that I'm SOOOOOO glad that in the state of PA CA's can't take Wage Garnishments ( except Federal stuff like Child Support, Student Loans, etc.). Boy.if that COULD happen, I wouldn't have a paycheck left.......LOL I guess sometimes you HAVE to laugh about 'your' situation...ya know? |
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