How Do I Eliminate My Debt W/o Destroying My Good Credit Score/history?
November 30th, 2008 | 
Author: 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…
hate to av to tell you this but with the sorta debt you got you ant got a good credit rating.run back to mummy and transfer the rest of it to her.
Posted in eliminate credit debt
hate to av to tell you this but with the sorta debt you got you ant got a good credit rating.run back to mummy and transfer the rest of it to her.
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As a mortgage lender, we deal with this everyday.
Each situation is unique and has to be handled differently.
Offhand, I would think ONE loan to a credit union would do the trick..your rate on your current unsecured debt would go down as well as your payments.
There may be better ways.
I recommend you contact a firm called LoanPro. At no charge they will give you options for your individual situation.
1 800 LOANPRO
They have a program on real estate financing on radio, and a lot of printed material to learn and master the financing industry
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Pay your debts as early as possible…..
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You wanna buy a $200K house and have $60K in credit card debt? Ain't gonna happen. Get a second job and start paying off that debt.
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