It often isn’t as if the average college student is in college with no experience in dealing with credit cards. While some of the student population may not be experts in handling credit safely, they certainly learn an overwhelming amount in handling these items. Most of the college campuses are teeming with credit card offers and this is no exception. In fact, this credit card controversy seems to me to have been the tip of the iceberg. There are many issues that need to be addressed, some of which I will go over here and here. One of the major issues I have is the need for your help in correcting some of the issues that have been identified. There is a danger that you will feel the effects of the debt you have incurred, and that is where the damage has already been done. Your help is essential in eliminating these misconceptions.
MYSTERY #1: There is more to dealing with credit issues.
Credit Card Disputes:
Do you really think it is possible for thousands of people to carry a $250,000 balance that has no interest and still need to pay it back?
The debts begin recording on your credit report when your grade A credit standing declines.
In the past, grade A credit cards offered credit to the less-than-perfect borrowers.
So, a borrower with credit problems like yours truly couldn’t pay their bills off, and the credit problems didn’t stop until grade B or C was up.
Let’s face it; each week that you throw away $250,000 at a debt that you owe hundreds is devastating your credit but you will not stop in your day-to-day financial problems.
With all of the credit card issues that occur, if you miss one payment that you regret in a month, and you pay the bill right when that bill comes, and you have a checking account on hand to pay it off the following month, don’t think you are stuck in the very process of obtaining a loan and will you NOT try to negotiate quick and easy payment access and other reasonable ways to pay back those outstanding debts?
Here’s what you will want to consider when negotiating the payment process.
‘ You must have a good, legitimate credit standing.
‘ You must be able to pay all of your bills that you owe, within a reasonable time period for repayment.
You must be able to make reasonable efforts to remain within the contract of your credit report (or keep it for yourself).
‘ You must be able to accurately report to credit counseling services that you are following up on your credit obligations or that you are attempting to remain in good standing with your account of history accounts.
Again, these are all guidelines and requirements but you do need to consider all of these items before making any final decision on whether or not to sign up for a credit card.
MYSTERY #2: No Credit Card Disputes Need Stop!
Credit Card Disputes:
Do you really think it makes any sense to have no issues that need to be addressed?
Payment Periods and Dispute Settlement procedures are entirely different from credit card disputes.
To qualify, you will need to settle your disputes within the preceding six months, or until fees or interest on the disputed amount are reduced.
For example, a consumer with a total outstanding credit card debt of $5000 can expect to pay no more than $15, from five other cards, before any additional charges will be assessed to balances, which could amount to $600 per month (over 30 years). Wait until charges have been eliminated from balances, in which case that total may go to as little as $15. If you do not want to pay the remaining balance until all charges have been removed, get a new credit card and keep that card.
Does this sound like you to me to be okay with?
For some people there may simply be no way on human terms to keep up with their credit cards debt anymore after a bankruptcy is reported and the amount owing (the amount due and counting the debt, whichever is higher) could turn out to be incredibly high, and it truly is ‘amazing” to think of how many people went through that stage of financial pain and found themselves financially free and enjoying a fine time and enjoying life
& still finding problems after only a small amount of time is out.
The point I am trying to make here is that you need to avoid credit card disputes or disputes concerning credit products& including credit inquiries that do not constitute a chargeable offense or an implied and general warranty on the products& products.