Category Archives: Credit - Page 2

How much debt can I incur on my card without getting my lines of credit lowered?

Posted by on September 3, 2010 5 comments
charlotte q asked:


I have no credit card debt and an an excellent credit report. I am going to do a small remodel on my rental property and plan to use my Home Depot card with no interest no payment for 12 months. I plan to use a few other cards as well. I thought that 30% is the best to load on to each card to maintain my credit score. Am I correct?

Danny

Can credit card debt transfer to your children after your death?

Posted by on September 1, 2010 3 comments
extisc asked:


An older family member of mine has a large amount of credit card debt and their only major asset is the house that they currently live in. From what I’ve read it seems that creditors will liquidate all of their assets including the house in order to try and cover the debt upon their death.

One of their children wants to purchase the house or assume the mortgage from them now and become the new owner. If the house is sold/transferred in this manner and no longer belongs to my older family member with the large debt, will creditors try to come after her child upon her death?

The house is located in Florida.

Lisa

Can you include credit card debt in a bankruptcy?

Posted by on July 27, 2010 6 comments
beehappy01 asked:


I have a friend in FL that is filing bankruptcy. I thought they passes a law a few years ago that stated you could not include credit card debt in bk. Is that true? They are telling me that you can include credit card debt.

Edward

Is there a way for credit card companies to forgive a portion of credit card debt?

Posted by on May 22, 2010 9 comments
chrisandniki asked:


Getting rid of debt is a priority in my family. We”ve been regular with our credit card payments. A word to you younger folks: never, ever use a credit card for anything.

I was curious if there was a way for credit card companies to forgive a portion of debt if you’ve been regular with your payments.

Kathy

What are the effects of credit card debt?

Posted by on May 11, 2010 4 comments
DJ asked:


Im doing a report on Credit Card Debt and there isnt much about the direct effects of being in credit card debt.

I know bankruptcy is an effect but what else can happen?

Ramiro