CAN I LEGALLY GET RID OF CREDIT CARD DEBT ???????????????

I GET OFFERS ON MY EMAIL, BUY CAN%26#039;T TELL IF THEY ARE LEGETT.

CAN I LEGALLY GET RID OF CREDIT CARD DEBT ???????????????construction loans

Credit cards are %26quot;non-secured%26quot; loans. Meaning the money they lend you through MasterCard or Visa is not tied to any collateral. If you stop paying on the debt the credit card company can not do anything but rate you as a bad risk in the credit reporting agency. Basically you get a bad credit rating that won%26#039;t go away for up to 7 years after you pay the debt off. If you can live with the bad credit report than just stop paying them. You can still get a car loan, but you will pay a high rate of interest because of the bad credit report. You can still buy a house, but the same applies, high interest rate for a high risk loan. One way or another (pay the debt off or pay high interest rates) you end up paying more than a person with a good credit report. Another alternative is bankruptcy which is an awesome tool when used correctly. It is a tool that many millionaires and billionaires use to their advantage while most working people scorn the legal precedence. If you have more debt than income, bankruptcy is for you. Don%26#039;t empty your savings and retirement accounts trying to keep up, just go file. Erase the debt and start over. You will have a high risk credit report for up to 10 years but within a year you can start building a good credit profile to shorten the high risk time. It%26#039;s all about the capitalism!

CAN I LEGALLY GET RID OF CREDIT CARD DEBT ??????????????? loan

bankruptcy?|||bankruptcy|||First of all, stop using your credit cards. They promote spending more than you make and make you pay horrible interest. Spend less than you make and you can clear it.

Something that every person should do is save 10% of their income for retirement. Getting it put automaticaly into a bank account is the best way so there is no temptation of spending it. With your situation I would put that 10% into the debt. The only reason you wouldnt is if you could find a way to make more interest than your credit cards are charging. (Still stay away from stocks, you don%26#039;t want to play around with money you dont have) The simplest way to say it is pay them off and don%26#039;t spend more than you make.

A book i reccomend to you is %26quot;The Wealthy Barber%26quot; by David Chilton. It is by far the best and most informative book you will ever read.