Credit card problem!
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ok insult me all u want but i just wanted some help from those serious forumers out there (hopefully). thanks
Is there any way to clear off a credit card bill? because my idiotic sister, i have no idea what she spent on or what she did but she have quite a number of credit cards under her possession. She somehow owe all of the credit card lots of money. I'm not talking about 1k. It's like 25k EACH. Or probably around there. Please tell me is there any way to clear off this debt besides paying money? please just help me. thanks
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well... U owe money = return... natural logic, no other way round to run, apart from really running away...
The other way is declare bankrupcy nor...
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go talk to the banks to change the credit card debts into loans... then cut up the cards...
they will then have a monthly loan installment for her to pay off the amount...
banks will go for it because they'd rather get their money slowly than lose it all as bad debt
then ensure your sister never ever uses a credit card again...
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u means u dun wanna pay and wish the debt simply disappear?
ur sis can declare bankrupt -
Originally posted by the Bear:
go talk to the banks to change the credit card debts into loans... then cut up the cards...
they will then have a monthly loan installment for her to pay off the amount...
banks will go for it because they'd rather get their money slowly than lose it all as bad debt
then ensure your sister never ever uses a credit card again...
ok thanks. At least this kinda help. Because i cant pay back in one shot of money.
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25k on each card? then better declare bankrupt. Cannot buy car or house nia.
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Use a cashcard to control her spendings.Destroy all her credit cards.Top up 10 dollars every week which is enough for food only.
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Ok let me guess your 'Sis' is your wife?
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Originally posted by Shorter ninja:
Ok let me guess your 'Sis' is your wife?
Mmmm...... high possible...... maybe buy a lot of LV bags and other branded stuff.....
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why you marry your sis?
is your family into incest?
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even if she declare bankrupt, and spoke to the bank, gone through finance management from bank arrangement, as long as she working she will have to repaid back to the bank. she have to use 50% to 60% of her paid to repaid the depts she own
so if she have 5 cards and her income is 4k she have to might have to paid each ban $500 or $200 monthly. depend on the outcome.
own $$$ paid $$$. nothing wrong.
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Before declaring bankrupt, check the liability of a bankrupt. a bankrupt cannot owe anything beside the HDB apartment. He need to pay a large sum of his earning about 30 ~ 50% to his official assignee. The OA will than use the monies to pay his debt. The OA will only discharge his bankruptcy after he paid >40% of his total debt.
It would be better to talk to the bank and come out with a win win solution. Bankurptcy should be the last resort.
hope this information will help u.
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Originally posted by the Bear:
go talk to the banks to change the credit card debts into loans... then cut up the cards...
they will then have a monthly loan installment for her to pay off the amount...
banks will go for it because they'd rather get their money slowly than lose it all as bad debt
then ensure your sister never ever uses a credit card again...
Agreed.Call the bank. Tell them about it, convert to loans (bo pian) liao.
And tell them to terminate the cc.
What the hell she's spending?
That is alot of money!
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Another thing, TS sis or ts cannot escape (what you owe, you MUST pay). So, better pay monthly...no choice, you have to bit the bullet for your sis or ask your sis to help out too since that is her problem.
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Hey hey hey, declare bankrupt don't mean don't need to pay back hor. Still need to pay back debts owed, but they will repossess every farking thing you own that can be turned into liquidable assets, then continue to suck you dry.
If declare bankrupty can make debts disappear, everyone will buy a lamborghini, drive it for 3 weeks, then say oops.
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btw, wat did she spend one?
buying vertus and stingrays? -
Originally posted by ditzy:
Hey hey hey, declare bankrupt don't mean don't need to pay back hor. Still need to pay back debts owed, but they will repossess every farking thing you own that can be turned into liquidable assets, then continue to suck you dry.
If declare bankrupty can make debts disappear, everyone will buy a lamborghini, drive it for 3 weeks, then say oops.
well at least bankruptcy can give that person some sanity and prevent her from spending.
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Originally posted by FireIce:
btw, wat did she spend one?
buying vertus and stingrays?
Probably branded stuff. -
I am not sure but there's something called consolidated loan, which means you go to such a bank or company, take a full loan to pay off all your credit card debts, and now you only owe this bank or company, with a much lower interests. Problem is when people abuse such a service and ends up using the consolidated loan to pay off the credit card debts AND then chalk up new credit card debts again, very very dangerous especially for people who cannot control themselves. It's pretty much like an alcholic saying he will change but still ends up drinking.
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25k for each?
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i think its 25k on a few credit cards. not each credit card.
btw sell all the stuff she bought to 2nd hand shops to recoup part of the money.
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$25k can buy lots of thing.....if put it in the saving account, and spend moderately, it can last at least few years.
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Your sis or wife makes $10k / month?
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Originally posted by dragg:
i think its 25k on a few credit cards. not each credit card.
btw sell all the stuff she bought to 2nd hand shops to recoup part of the money.
Ts is saying $25k EACH.....more than $100k...???? -
How did she get the 25k credit limit in the first place....