credit card zero interest
Eliminate Credit Card Debt Without Bankruptcy
If you are on a fixed income you may be considering that bankruptcy is your only way out of debt. There is a way to eliminate your credit card debt without having to resort to bankruptcy. In this short article, get the information you need to know before you make a 7 to 10 year financial mistake. You wouldn't want to be in debt with horrible credit after 10 years.
This has nothing to do with debt consolidation or credit counseling. You do not eliminate your debt with credit counseling, you pay back the whole balance. In simple terms, you just get a longer time to pay the same debt amount. So you can forget about these methods. Even though they are touted as some of the best debt cures you can find.
But have a look at the companies promoting these methods. It is usually the credit card companies who helped start the major credit counseling companies. So they have a big interest in steering you to credit counseling.
You are left with debt settlement as a way to clear away your debt problem. Using debt negotiation you reach an agreement to pay about half of what you owe for the whole balance. If you are behind by 3 to 6 months you may be surprised at how willing they are to settle.
Using debt settlement and debt negotiation you can clear away half your credit card debt in less than a year and a half. You can get a 60% settlement on a $50,000 balance and save $20,000 for example. You can save more or less depending on your creditors. But the creditors already know this because so many people are having financial difficulties. Millions of people are falling behind on their payments.
The bank would rather get half of what you will than zero. They still have shareholders to please.
Best of all you can do it yourself. You can settle your own credit card debt and save thousands in debt settlement fees. So read a book, or buy a home study course on how to do it yourself debt elimination. This is the best way I've read about that can help you eliminate credit card debt without bankruptcy.
0 Interest Credit Cards
Can a credit card company charge interest on a zero balance?
I have a Macy’s card that I charged 37.43 on in December. I recieved the December statement, and paid that amount off. Payment was due Jan 15, but I made the payment on Jan 3. I did not receive a statement for Jan or Feb, but then in March I recieved an invoice for 2.00. I did a little research, and it appears that I was charged 2.00 interest on Jan 15. Is this legal?
There is nothing in my paperwork that explains the charges. The statement CLEARLY says account balance $0.00 interest charged $2.00.
Actually, yes it is legal. You owed a balance during the Dec 15 – Jan 15 billing period. They would charge you the interest for that period on Jan 15th. $2 on a $37 balance is too high, but that might be their minimum monthly interest charge.