Really need advice: Rebuilding my credit, paying loans, and bills! - eBay Suspension & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > General Discussions (Off-Topic) > Making Money

Making Money Flipping, Investing, You Name it. Lets discuss other ways of making money!

Reply
 
Thread Tools
  #1  
Old 04-16-2009
shoot2kill's Avatar
Executive [VIP]
 
Join Date: Sep 2008
Posts: 524
Thanks: 2
Thanked 36 Times in 29 Posts
Activity: 1%
Longevity: 86%
iTrader: (6)
Default Really need advice: Rebuilding my credit, paying loans, and bills!

I would like some advice on the quickest way to pay of my student loans, and some bills that I have collection agencies calling for and how to rebuild my credit! My situation may or not say it's critical, but I have a lawsuit for a loan I took out in Sept. 2007 of $2,400. Long story short: I paid $200 each month until it was $1600 left, lost my job couldn't pay for my bills and had to move back home. Now I have a lawsuit of 2,700 for that loan, 2 collection agencies calling everyday for 1,300 to Dell(stupid laptop) and 1,600 to HSBC Store Card.

I am currently saving money made through my steath ebay accounts and I have $7,000 and another $1,000 stuck in 2 amazon accounts till July and $950 stuck in 2 limited paypal accounts til October.

I am 21 and a single father. I have a two year old boy who I spoil.
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 04-16-2009
bigpoppa911's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 93
Thanks: 3
Thanked 2 Times in 2 Posts
Activity: 0%
Longevity: 90%
iTrader: (0)
Default

You should start with disputes to the CRA's and follow up with Debt Validation Letters to your creditors. Once an item is on your report paying it off doesn't remove the negative.
Reply With Quote
The Following User Says Thank You to bigpoppa911 For This Useful Post:
TMiles (04-26-2009)
  #3  
Old 04-17-2009
JohnnyBoy's Avatar
Senior Member
 
Join Date: Sep 2008
Posts: 384
Thanks: 5
Thanked 22 Times in 18 Posts
Activity: 0%
Longevity: 86%
iTrader: (0)
Default

Here is a link with alot of info on debt validation. Sending a debt validation letter might give u a little stall time until july when you get ur money.

Debt Validation: The ultimate weapon against the collection agencies
Reply With Quote
The Following User Says Thank You to JohnnyBoy For This Useful Post:
TMiles (04-26-2009)
  #4  
Old 04-26-2009
Senior Member
 
Join Date: Mar 2008
Posts: 449
Thanks: 22
Thanked 14 Times in 13 Posts
Activity: 0%
Longevity: 91%
iTrader: (0)
Default

Good advice my friends!!!
Reply With Quote
  #5  
Old 04-27-2009
shoot2kill's Avatar
Executive [VIP]
Threadstarter  
 
Join Date: Sep 2008
Posts: 524
Thanks: 2
Thanked 36 Times in 29 Posts
Activity: 1%
Longevity: 86%
iTrader: (6)
Default

Yes thanks for the advice. I should have paid them off before.
Reply With Quote
  #6  
Old 04-27-2009
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 41,971
Thanks: 5,467
Thanked 8,992 Times in 7,021 Posts
Activity: 10%
Longevity: 95%
iTrader: (6)
Default

shoot, S'long as you try now to get on top of matters. There is help out there & do ask here as well.
Good Luck
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Reply With Quote
  #7  
Old 05-03-2009
Senior Member
 
Join Date: Mar 2008
Posts: 449
Thanks: 22
Thanked 14 Times in 13 Posts
Activity: 0%
Longevity: 91%
iTrader: (0)
Default

I just re-read this thread....On piece of advice. Do not keep spoiling the 2 year old. It will come back and bite you in the @ss.....

Work with your creditors. The all will settle for pennies on the dollar. Never pay a debt solution agency.

Look up Dave Ramsey and Benjamin Dover, through a Google search. They have excellent resources to help...
Reply With Quote
  #8  
Old 05-04-2009
oompaloompa's Avatar
Executive [VIP]
 
Join Date: Jul 2008
Posts: 9,571
Thanks: 502
Thanked 1,472 Times in 1,182 Posts
Activity: 8%
Longevity: 88%
iTrader: (7)
Default

Benjamin Dover, Ben Dover for short...
__________________
https://youtu.be/bn4t0BuClbw
Reply With Quote
  #9  
Old 07-10-2009
Junior Member
 
Join Date: Aug 2008
Posts: 198
Thanks: 2
Thanked 11 Times in 11 Posts
Activity: 0%
Longevity: 87%
iTrader: (1)
Default

Just looking over this thread there are a few options-

First if you cannot afford at all to repay that debt and are planning bankruptcy, then that is the ONLY point at which you want to "SETTLE" your debt (that will show up on your credit report as "debt settled" instead of "paid" and in that case, creditors in the future will not give you any loans)

If you plan on eventually buying a house, a car, or taking out a loan for personal reasons, there is no reason why you should settle your debt, especially if you're only 21- it could ruin your credibility for life.

Now you may be thinking what to do- Debt Consolidation is a much better way to go- in that way, you actually will repay ALL your debt but your creditors will just lower the APR which will help you a great deal. Debt Consolidation vs Debt Settlement- not many know the consequences but whatever you do make sure you know the consequences before jumping into either one of them.
Reply With Quote
  #10  
Old 07-10-2009
inverser's Avatar
Executive [VIP]
 
Join Date: Oct 2007
Posts: 353
Thanks: 9
Thanked 24 Times in 23 Posts
Activity: 0%
Longevity: 94%
iTrader: (0)
Default

In a twist of irony, paying off your debts will not improve your credit score. And that's the whole point isn't it?

If one agrees to settle, that's fine. But it's crucial to also negotiate a deletion of the tradeline. Be sure to get the promise in writing.

Otherwise, the negative tradeline will remain on your credit report even after the debt is satisfied. Sure, it's paid off -- but it will continue to negatively affect your FICO score.

In my opinion, the smartest move would be to take the offensive and dispute all negative tradelines. Most likely the original creditors sold your debts anyway. They washed their hands of it. As far as they are concerned, they got a limited ROI when they sold your debt to a collection agency. If you choose to pay at this point, you join the ranks of millions of others that support the debt collection industry. They make billions of dollars a year and you're helping them.

Just my humble deuces.
__________________
SPACER
Heights by great men reached and kept
Were not obtained by sudden flight,
But they, while their companions slept,
Were toiling upward in the night.

-HWL
Reply With Quote
  #11  
Old 07-11-2009
aspkin's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 10,495
Thanks: 2,838
Thanked 3,558 Times in 1,523 Posts
Activity: 46%
Longevity: 100%
iTrader: (24)
Default

I had an old bill from Vegas when I was staying there last summer. It was only around $20 but I didn't pay it out of spite. I forgot I gave them my SSN.. and well it hit my credit score.

I since paid it off and had the item removed from my credit score after disputing it.

I just contacted the three credit bureaus and contested it, saying I thought the landlord would pay it since I moved out early.

I like when things work out.
__________________
\_(ツ)_/ Get -->

Notice: A SHORT & SWEET PM gets answered before ANY other PMs sent me.
Reply With Quote
  #12  
Old 12-23-2009
Junior Member
 
Join Date: Dec 2009
Posts: 4
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 76%
iTrader: (0)
Default

I personally would not ever have that much money in paypal as a "savings account".
Reply With Quote
The Following User Says Thank You to PaulStarr For This Useful Post:
techbayelectronics (06-07-2011)
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Any tips or tricks to get successful home loans? John14789 Making Money 3 10-14-2008 04:17 AM
Non paying buyers trg005 eBay Discussion! 3 07-24-2008 01:03 AM
Help! How to avoid paying VAT?? apprenticeic UK eBay Suspensions 0 07-10-2008 01:28 PM
Advice for UK people re: gift / credit cards jamesy eBay Suspensions 14 01-10-2008 05:58 PM
Violated By Bills Cobb And Meg 'abyte Me' Whitman poopdeck PayPal Talk 34 01-10-2008 02:42 PM


Aspkin Group

All times are GMT -5. The time now is 05:08 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts