How Bad will My Credit get affected if I ....? (please Read)?
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I make like $2100.00 after taxes each month/salary. I have Way too many bills and w/recent Life events and a Major-Scam i was involved in, Im no longer gonna be able to afford All my bills (current job schedule will Not allow me a 2nd job)... My Question is, How Bad will My credit get affected if I ONLY pay $20 to each of my monthly debts (excluding what needed to live) and start applying the Remainding $$$ to 1/each account a month...I would have 4 of my debts paid off in 4months which would bring me an additional $380 a month...
My debt is as follows:
credit cards; $13500
signature loans; $10500
auto loan; $9700
***and other misc. debts ...
THANKS, pappi
How Bad will My Credit get affected if I ....? (please Read)?i don't know how much it will hurt your credit, but it will hurt your credit if you don't make at least the minimum payments to your accounts because you will be defaulting on the loans and they usually have extra fees for defaulting or not meeting the minimum payment.
what i'd try to do, transfer your high interest rate accounts and get them consolidated to another account (opening another account) w/ lower interest rate (even 0%, if you can for a promotional period) that way you'd only have 1 account to deal with...of course, that all depends on how much credit line the new bank/financor will grant you.
How Bad will My Credit get affected if I ....? (please Read)?More Related Questions and Answers ...
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