Posts Tagged ‘credit card company’
A collection/attorney service bought a bad debt I had with a credit card company as an unsecured loan and then filed a judgement against me in the state of Minnesota. Now I had someone tell me I won’t be able to buy or sell any property there, even to pay the debt, until I pay the judgement. Is this really true? How can they turn an unsecured debt into a secured debt without my knowledge or approval? I was not notified of any action prior to them taking it.
I live in Michigan and owe a hospital bill [my portion] of over 00. I have been making regular monthly payments to the hospital. However, they are telling me they will only carry the debt for 90 days and the bill must be paid in full within 90 days or it will go to collection. Also, they sent me information to apply for a hospital credit card where the credit cards buy my debt and then I owe the credit card company. You guessed it, with high interest and late fees, etc. I feel like I am being railroaded and it makes me furious because I am not some deadbeat, I just cannot come up with over a 00 a month to pay this off in 90 days. Is this even legal?
I am starting law school in the fall and will need to take out students loans. Although I always pay my credit card on time and have never missed a payment, my douchely credit card company has raised my interest rate twice. It went from 9% to 16% and recently, without mentioning it to me, went up to a whooping 23%, which is just disgusting. I need my stupid card to cover emergency and education related expenses. Applying to schools is expensive and I need to be able to slowly pay off things like review classes, application fees and seat deposits. I need my savings to help pay for moving expenses and a car which will be necessary for the school I’m going to. Will opening a new card with a lower interest rate hurt me when I’m applying for loans? I can pay off my current card by April and will be able to close the account. However, I will need a credit card to pay for a seat deposit which will be 00 over the course of April and June. I would like to put it on a card with a lower interest rate, I have several offers, but will it kill me when I am applying for loans?
I don’t carry balances every month. It depends on the month. I always pay WAY more than the minimum payment. I simply cannot afford to pay 1,000 dollars in application fees all at one time. However, I slowly chip away at this balance over the course of 3 to 4 months and I never use more than 10% of my available balance. I have had my available balanced raised before my interest rate was raised as well. I have never had more on my credit card than was in my savings. I just need the card to control cash flow. I just need to know if a new card will severely lower my credit?