Ok before everyone tells me I don’t know how to manage my money I would like to explain. I racked up 3 credit cards because of a custody battle. It was completely worth it and if I had to do it again, I would. I had no other choice. I had not collateral for a bank loan.
Her is my few questions. Since I was in a financial hardship and couldn’t pay then they will probably garnish my wages. Can more than one company garnish my wages at a time or can only one garnishmnet be done at a time on my wages?
Next question is this. Lets say I don’t make a payment on these accounts. It’s already been two years and I haven’t made a payment. If I start to make a payment now then it reports to my credit as new activity and starts the 7 year process of removal off my credit all over again. I have read up on that. So instead of filing bankruptcy, I’ve thought of just leaving them alone for 5 more years. These are closed accounts, closed by me not the creditor (I believe,cause I was told that would look better at the time). But….Can they still add interest and late fee’s and if so does this info get sent to my credit report as new activity (cause of a new balance with the fee’s, etc.) and constantly start my 7 years removal off my credit all over again every time they may this change. Does this make sense? I hope so.
I also have 2 hospital bills from depression (hospitiliazation-which they didn’t work with me on hardship, which is understandable, some companys do and some don’t). The other hospital is ER bills. I unfortanetly(spelling) have no insurance. I’ve tried working with them but they just keep saying thats not enough money.
Can-lets say one credit card and one hospital garnish my wages at the same time?
Sorry for all the questions but I’m trying to get back on track with good health, decent job, etc. I use to have a 849 credit score and I know someday I will get it back up there. I just have to get health insurance, etc. I do manage money well, even though this post doesn’t show that. But my (life-my daughter) was more important then my credit. Now that the custody is settled. I’m ready to have my credit back but need to know these answers first. If it takes me 5-10years to build back my credit then I can handle that. I will be 41 in 10 years and by then I will be able to help my daughter with college due to building my credit back up. Life is good and I know I can do this. Thanks, Thanks, Thanks.
I know some of you will say just pay them but my main focus is on the questions I asked. That would help me out so much.
Oh and I know all states are different on there laws. I live in Nebraska so if that helps.
Thanks Again
God Bless
51 minutes ago – 3 days left to answer.
Additional Details
5 minutes ago
Just so e1 know. I do not make any more purchases with credit cards. I don’t even use them or even have any.
4 minutes ago
Not even store CCards. If I can’t buy it with cash within my budget then I don’t buy it. Food and gas alone these days is tuff.
9 seconds ago
Zoey (another user on another questions), thanks for the info at the end. I do all this all ready. I have no more credit cards. We only eat out when family gets together like once ever 4 months and I take my own coffee to work, lol. I even compare prices at the grocery store. Some people call me a tight azz but I have to be to make ends meat and see me credit where it use to be. I still thank you for the information. I almost don’t even drink pop anymore and make tea at home and use my old pop bottles to fill up. I’m a trying. Also, when I purchase something, I never give exact change, that way I get change back. I save my change and then every 6 months or so-I get a big suprise, yah, lol.
I can’t seem to get simple answers to these questions. I know how to budget, I know how to save some money when I have extra to save, I don’t have a spending problem, never have. I just got CC debt do to a custody battle and some depression which inquired hospital bills. Everything else is ok. So please no more answers about stop spending, how to save money. I’m already a tight azz. There is just never any left over after bills. I’m just looking for answers to my questions is all.
You have credit card debt, and you wan to pay it off as quickly as you can. We will assume that you are going to stop creating more debt. You have changed your ways. You also understand that paying credit card balances with a consolidation loan or rolling it into a mortgage isn’t paying it off. In fact, paying a lower interest rate, but paying on the debt for many more years, usually means paying much more, not less.Okay, so you really want to be rid of that credit card debt.
First, you have to understand that not all debt is the same. Of course you know this. Some of your cards have a higher interest rate than others.Find and budget the money to start paying down those balances. If you order pizza every week, for example, you may be spending $60 or $80 per month right there If you are serious about getting those debts paid, you may have to eat $4 frozen pizzas for now. Do what you have to do, and determine how much you can apply towards the debt each month.
You could try making an offer to your creditors, but you have to follow through if they accept, and it will hurt your credit rating, but it may keep your wages from being attached. And ignore these jokers that tell you that your going to make a ton of money at home, their spammers.
If they are not active in collections, I would suggest leaving them alone until they expire at 7 years, have them removed.
If they are actively trying to collect them, then I would consult an attorney about a “wage earner” chapter 13 plan or perhaps even a chapter 7.
The problem is that all those hits on your credit can mess up your job possibilities, etc. so, they need to be dealt with.