Thanks, greysyl. I have been paying small amounts every month cause the bank has been reminding me. It's just not fast enough and I just want to get done and over with it. I get 10% interest every month. It's still okay.
Hi Elycia it might be worth it to obtain a copy of your credit report. Even if you have cancelled your cards if there was an outstanding balance on your card the lender will still have to maintain their reporting on your credit standing. If you are making regular payments even if they are small, this would count in your favour. The end result is you want them to continue to do the reporting and especially the final reporting once you have paid your bill in full to show 'Paid in full as agreed' and this will definitely improve your score.
The other thing to keep in mind with creditors is you always want to pay something even if it is only $5 or $10 a month. As long as you continue to make regular payments there is no legal action that they take on you for non-payment. They could however offer you a settlement amount to clear your account and this is generally less than your current amount owing, or it could be a freeze on interest accumulating.
Keep your chin up girl, there are better days ahead, you just have to keep going forward!
This is a very interesting post. For me, I don't think I have a positive credit rating. I cancelled my credit card but I'm still in debt. Too many commitments in life now. It used to be so easy to pay up. Now, everything just keeps snowballing at me.
It certainly was a busy March as I spent the majority of my days and nights preparing an online course all about budgets.
And now as April rolls in I have opened up a pre-registration launch with a mini-course.
You are more than welcome to check it out: http://sylvia.thinkific.com
With the completion of the first quarter of the year and spring in the air it's clean up time and while most will look after their closets, and outdoor landscaping it is also a great time to review all ... [Read more]
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