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need help on bad credit credit cards

Discussion in 'Credit Talk' started by aurigma, Jul 18, 2008.

  1. Jul 18, 2008 #1
    aurigma

    aurigma New Member

    i was laid off work earlier this year and i was not able to pay for my debts. things are looking better now that i have started my own business with my brother's help. what is haunting me is a particularly significant credit card debt that's getting a high interest. I can't possibly pay it off with lower income i have now.

    Please help me by suggesting balance transfer cards that allow you to transfer at 0% for a period of 12 months. my current credit rating is 615.
     
  3. Jul 18, 2008 #2
    NightStar

    NightStar Well-Known Member

    I am not sure at how successful you will be moving debt to a zero percent credit card with a score that low.

    Where you late? What is the status of the accounts?
     
  4. Jul 20, 2008 #3
    aurigma

    aurigma New Member

    Hi Nightstar:

    I have missed some payments, but have gotten back on track. I borrowed money from my family to pay off much of the credit I still had last May, but it was too late a move since my credit rating is lower now. I still pay some finance charges.
     
  5. Jul 21, 2008 #4
    NightStar

    NightStar Well-Known Member

    Suggest that you ask for re-aging on the accounts to bring them back current and for the lates to be removed. Some credit card companies offer re-aging once ever 5 years I believe.

    If the accounts are already closed, or if re-aging does not work then as for good will for the lates to be removed and for the account to be reported as pays as agrees.
     
  6. Jul 22, 2008 #5
    bustdebt

    bustdebt Active Member

    I don't really think you could get balance transfers at that rate. Given your credit score, banks would be charging you a lot of interest or a bigger fee.
     
  7. Jul 22, 2008 #6
    bustdebt

    bustdebt Active Member

    This site recommends Orchard Bank for people like you with bad credit (please see the Credit Card search tool you see on the left)
     
  8. Jul 23, 2008 #7
    aurigma

    aurigma New Member

    Hi Nightstar.

    I've tried negotiating for a lower rate with my current cards, everything's been denied. I haven't tried reaging though. Am not sure I understood your point on goodwill.
     
  9. Jul 23, 2008 #8
    aurigma

    aurigma New Member

    Hi bustdebt:

    Thank you for your links and recommendations. I've checked out Orchard and it seems like a good deal. The other banks on the list though do not allow balance transfers. They were however very good options for rebuilding (or so the site says).
     
  10. Aug 2, 2008 #9
    bustdebt

    bustdebt Active Member

    glad to be of help :)
     
  11. Aug 10, 2008 #10
    NightStar

    NightStar Well-Known Member

    Good will is when you ask the creditor to reconsider reporting the lates, if they will forgive them and remove them.
     

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