Archive for July, 2009
I’m trying to buy a house and want to know if my debt looks better on credit cards or personal loan?
July 27th, 2009 | 
Author: 
Curiousmindz asked:
I am a young professional with a steady, fairly well-paying job in the education profession. I’m settled career-wise and am looking to purchase my first home by the end of November. However, after surviving a period of being unemployed a few years ago and grad school, I have a a credit card debt of $6000. I have no money for a down payment. I have an excellent credit score. I know my student loans and car payment are considered “good/ok” debt, but my credit card is “bad debt”. Although I am working a second job to pay it off, will it look better to a mortgage company to have that debt on a credit card or should I transfer it to a low interest personal loan?
I work 50+ hours a week at my first job and I waitress all week after my first job, so I am making good money and DON’T need ANOTHER job, particularly a job working from home. I’m looking for credit advice…trust me, I’m working my **** off…
Tanner Goldhorn
I am a young professional with a steady, fairly well-paying job in the education profession. I’m settled career-wise and am looking to purchase my first home by the end of November. However, after surviving a period of being unemployed a few years ago and grad school, I have a a credit card debt of $6000. I have no money for a down payment. I have an excellent credit score. I know my student loans and car payment are considered “good/ok” debt, but my credit card is “bad debt”. Although I am working a second job to pay it off, will it look better to a mortgage company to have that debt on a credit card or should I transfer it to a low interest personal loan?
I work 50+ hours a week at my first job and I waitress all week after my first job, so I am making good money and DON’T need ANOTHER job, particularly a job working from home. I’m looking for credit advice…trust me, I’m working my **** off…
Tanner Goldhorn
Kaptndrow asked:
I am trying to increase my new corporations’ credit score by moving some of my personal debt such as cell phone to my corporate account. If i pay this debt from my own pocket each month will i, or my corporation, be penalized, say tax wise, or any other way? This is a C corp.
Royce Baradi
I am trying to increase my new corporations’ credit score by moving some of my personal debt such as cell phone to my corporate account. If i pay this debt from my own pocket each month will i, or my corporation, be penalized, say tax wise, or any other way? This is a C corp.
Royce Baradi
James C asked:
Target Credit Cards Lowered My limit by $3k and i am wondering if any one would donate money to my personal debt. NOT ASKING FOR MONEY JUST ASKING IF ANYONE WOULD!
Eugene Schirrmacher
Target Credit Cards Lowered My limit by $3k and i am wondering if any one would donate money to my personal debt. NOT ASKING FOR MONEY JUST ASKING IF ANYONE WOULD!
Eugene Schirrmacher
MiM asked:
I have a good credit score, last time I checked about 6 months ago it was about 720-730. Recently I have acquired a big credit card debt, about $9,000 on one credit card (with a limit of $10,000) and about $3,000 on another one (with a limit of $5,000) for many different personal reasons. After the whole spending money ordeal was over, I was left with all this debt on my credit cards. Since then, I have cut back on all unnecessary spending, besides the obvious things like food, gas, etc. I have never been late on payments and have never been over the credit limit. I Also try to pay an extra hundred bucks on top of the minimum payment due when I can. Are there any good ideas on how to consolidate these two credit card debts and help me out with all this? Thanks!
Eugena Lane
I have a good credit score, last time I checked about 6 months ago it was about 720-730. Recently I have acquired a big credit card debt, about $9,000 on one credit card (with a limit of $10,000) and about $3,000 on another one (with a limit of $5,000) for many different personal reasons. After the whole spending money ordeal was over, I was left with all this debt on my credit cards. Since then, I have cut back on all unnecessary spending, besides the obvious things like food, gas, etc. I have never been late on payments and have never been over the credit limit. I Also try to pay an extra hundred bucks on top of the minimum payment due when I can. Are there any good ideas on how to consolidate these two credit card debts and help me out with all this? Thanks!
Eugena Lane
JH7057 asked:
We have a home (that is paid in full.) We have credit card debt and personal loans that have gone unpaid due to unemployment. Can my home be taken to satisfy the unsecured debt?
Kermit Mclearan
We have a home (that is paid in full.) We have credit card debt and personal loans that have gone unpaid due to unemployment. Can my home be taken to satisfy the unsecured debt?
Kermit Mclearan
COURT727 asked:
Someone I know has had a Federal Tax lien for some years now. He is currently trying to get the situation taken care of, at the same time he has a couple judgements on that needs to be repayed. The debt collectors recently sent the Sherrifs to his house and served papers stating they would start confestcating((<--spelling :[ )) personal property if they weren't paid. My question is if you have a Tax Lien that is the 1st priority that needs to be met so by law are they allowed to come confiscate personal property? He is currently Defaulted on the lien and the revenue officer says he doesn't have to pay until he starts bringing in more money. PLEASE HELP! thanx
Dean
Someone I know has had a Federal Tax lien for some years now. He is currently trying to get the situation taken care of, at the same time he has a couple judgements on that needs to be repayed. The debt collectors recently sent the Sherrifs to his house and served papers stating they would start confestcating((<--spelling :[ )) personal property if they weren't paid. My question is if you have a Tax Lien that is the 1st priority that needs to be met so by law are they allowed to come confiscate personal property? He is currently Defaulted on the lien and the revenue officer says he doesn't have to pay until he starts bringing in more money. PLEASE HELP! thanx
Dean
Duh asked:
What percentage of the personal income taxes collected in the US does nothing but pay the INTEREST on the national debt?? I’ve heard that 100% of the individual taxes we pay is used for nothing more than paying the interest in the national debt!! Is that true?? If that is true, then why isn’t that being made known to everyone?? Seems like that one fact alone would cause a ‘revolution’ that would put a stop to such nonsense and inspire radical changes in our entire system!!!
Rodrick Yap
What percentage of the personal income taxes collected in the US does nothing but pay the INTEREST on the national debt?? I’ve heard that 100% of the individual taxes we pay is used for nothing more than paying the interest in the national debt!! Is that true?? If that is true, then why isn’t that being made known to everyone?? Seems like that one fact alone would cause a ‘revolution’ that would put a stop to such nonsense and inspire radical changes in our entire system!!!
Rodrick Yap
Gina asked:
Hey- I am not interested in scam folks please. This is a genuine question
Hey- I am not interested in scam folks please. This is a genuine question
Thank you
Kecia Rodi
Posted in Personal Finance | 
Tags: Credit Debt, Personal Credit, Unsecured Personal Loan | 
3 Comments »
Rubberband Man asked:
i have some credit card debt probably 3-4 cards to the tune of about $ 5,000. that was prior to my forming my self employed service business into an LLC (ohio), and this debt has no connection to the LLC (single member) and if i am not able to settle or othewise make payments its likely they will go to court and get a judgement. SO…. what then? can they with such a judgement seize personal property? such as a motorcycle ( $4,000.) or attach a lein on my house? Can i open an LLC for just me as a person? to be alble to continue living ( paying bills) or will i have to use “undercover” services to pay my bills? My LLC will be paying me…. do i ihave to live and pay with cash forever? I want to pay or settle wilth them but if i can not i have decided to keep my house (by paying on IT) VS lose my credit / credit cards by NOT paying on them
Martha
i have some credit card debt probably 3-4 cards to the tune of about $ 5,000. that was prior to my forming my self employed service business into an LLC (ohio), and this debt has no connection to the LLC (single member) and if i am not able to settle or othewise make payments its likely they will go to court and get a judgement. SO…. what then? can they with such a judgement seize personal property? such as a motorcycle ( $4,000.) or attach a lein on my house? Can i open an LLC for just me as a person? to be alble to continue living ( paying bills) or will i have to use “undercover” services to pay my bills? My LLC will be paying me…. do i ihave to live and pay with cash forever? I want to pay or settle wilth them but if i can not i have decided to keep my house (by paying on IT) VS lose my credit / credit cards by NOT paying on them
Martha
Jonathan asked:
i am an unmarried college student with no dependents and i use student loans to finance the cost of my tertiary education. i worked between graduating high school and going to college and built sufficient credit to get the aforementioned loans without anyone cosigning for them (my name is the only name on the promissory note). if i were to die, become permanently disabled and unable to repay or otherwise default on the loans, can my parents be forced to repay them on my behalf?
Frank
i am an unmarried college student with no dependents and i use student loans to finance the cost of my tertiary education. i worked between graduating high school and going to college and built sufficient credit to get the aforementioned loans without anyone cosigning for them (my name is the only name on the promissory note). if i were to die, become permanently disabled and unable to repay or otherwise default on the loans, can my parents be forced to repay them on my behalf?
Frank