Question by karkee07: Balance Transfer Credit Cards for Fair/Poor Credit….
I have about 3,000 in debt from credit cards and medical bills and and each card has a high APR and interest rates. I’ve been ha ving trouble making on time payments. I was thinking about transferring all the debt into one card so I can make one large monthly payment without so much interest. Is this a good idea. What is a good card or company to go with or should I talk to those debt consolidation people. I had my time of plastic crazy and want to get my credit rating back to were it was.

I also have student loans to apply for soon and was going to start paying the interest on those right away to save money in the long run.

What should I do? Thanks so much!
I work full time for a huge global company and live on my own and am 19 am starting school soon.

So of course money is going to be tight.

Best answer:

Answer by Kile
Fair/poor will not get you a good rate on anything. With 3000 you go out and work at McDonalds for a few months and then it will be gone forever.

Good luck.

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Question by velocitysc43: What happens when you stop paying your credit cards?
So I’ve done some research and I know all of the consequences of walking away from credit card debt. But I am not sure what I should do. I know many people have asked this same question and were told to get credit counseling. I’ve also looked into that and most places charge a fee which I can’t afford to pay. I’ve also looked into debt consolidation loans, which I am not eligible for. I’ve even called my credit card companies and asked for a lower interest rate and was denied. I can’t afford to get an attorney.

This is my situation. I was young and dumb got a bunch of credit cards. I think I have about ,500 in credit card debt. I try to pay more then the minimum payment monthly but my interest rates have increased & I cannot afford the monthly payments. I also have student loans & a bank loan that I pay on as well. Those loans are obviously more important then my credit cards.

I pay on these cards and the balance never goes down. I don’t even use the cards anymore, it doesn’t make a difference.

Any HELPFUL suggestions or advice from personal experience is appreciated.

Best answer:

Answer by steven e
try a debt councellor.

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Question by ZXZX: Paying off federal student loans with credit cards thereby taking the gov’t out of the picture if charged off?
If one pays off federal student loans with a credit card, and then is delinquent on the card and the creditor charges it off…..

May the card issuer get the IRS to pursue the debt on its behalf as this debt was originally a federal student loan?
OR
Does the fact that they were federal loans not matter since the loans were paid off through the card and the lender of the loans, its gaurantor and the IRS are now OUT of the picture, as it became a regular credit card debt, in which case one would ONLY have to deal with the card issuer (and its collectors) as any other credit card debt?
I know that crad rates are higher and that consolidation of loans is good. I have already done that.
I am NOT interested in all that.

I only want to know what may happen once the card that was used to pay off federal student loans is charged off?
Is it like any other card charge off or not.

Does someone have EXPERIENCE with this?

Best answer:

Answer by kate
You would be liable in civil court and they could get a judgment against you ,
Then start garnishing your wages or take any possession they feel of value .
( except for 1 cheap vehicle used as transportation to work )

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