Can i use my debit card as a credit card on paypal?
i have a debit card and i be wondering if i could use it as a credit card on paypalAnswers: If it has the mastercard or visa logo you can.
I believe you can if it have the VISA logo on it.
Lump sum settlement (and other credit issues)?
Hey everyone...I'm in debt. Not horrible debt, around $12,000 total (not including student loans..which are within good standing). Most of it is credit card debt, and a repo'd sports car loan.
I've made it my new years resolution to procure myself out of debt, or at least on the right track.
I pulled my credit report, made some call and already have a couple minor things compensated off on my credit report.
I just this minute received a letter stating that a $3,350 credit card debt could be compensated off for a lump sum of $1,350 to Midland Funding LLC (the communication is from a local law firm here within Louisville, KY).
How should I proceed with this? I stingy, it's obviously other...saving $2,000 within the long run.
But what about getting it stale my credit report? How would paying this off affect it? Will it still negatively affect my credit? Can I constraint it be removed from my report after I pay it?
What more or less other similar debts? Can I negotiate a lump sum settlement? Any suggestions or advice on these matter?
Answers: OC is correct on this one.
I constantly preach to people never reward off a debt unless the creditor agrees IN WRITING to DELETE the item from your credit report. Here is why.
1) Paying sour the debt does NOT remove negative information from your report. It will still show a collection/charge past its sell-by date, and it will be reported as a negative. The just thing the creditor is required to do is show a zilch balance.
2) Paying sour a debt will update the activity on your details. Your credit score give more importance to recent entertainment. then feeble accounts. Therefore, lets voice you pay past its sell-by date a 5 year old debt. Currently debts this antiquated do not hurt your score that much, but once remunerated it turns it into a new entertainment., and can actually LOWER your credit gain! Trust me on this one, go to MYFICO and research it. The collection agents sure will not update you this stuff.
So unless they delete it, do not pay the debt. Remember, your aspiration is to fix your credit score. Why on floor would you pay them money and still failure up with fruitless credit?
Jump on that offer. Midland is a reputable company.
See if they will delete it from your credit report.
As for your other debt. You can extend lump sum settlements, they like that the best, and you can use that as a negotiate tool.(lump sum over payments)
call at the back of the month for the best deal.
Good luck!
Yes, you can negotiate other lump sum settlements and you can ask that the item be delete from your credit report for payment. Some will and some won't. Get any settlement agreement contained by writing and do not give them access to your mound account.
If the creditor doesn't remove the item from your credit report, paying won't really increase your rack up. However, paid aged debt looks much better than unpaid. Creditors do look at the whole credit report not a moment ago the score.
Another point to remember when you settle for less than full costs is that collectors will send you a 1099 for forgiven debt of $600 or more. You will own to include this in your income tariff return and pay taxes on the forgiven amount. Still cheaper than paying the undamaged amount.
The first thing you involve to do is DO NOT talk to these nation over the phone. ONLY make offer of settlement through certified mail so that you hold a paper trail. DO NOT convey any money to any company until you have an agreement you can work near in writing from them.
You did not mention how antiquated these debts are. But there are two things you inevitability to look at. The first is the Statute of Limitations. This is the period of time they own to sue you for the debt. Depending on the state and type of debt it is anywhere from about 2 years to 15 years. If you are outside of that the single thing they can do is hang on to it on your credit report for 7 years. You can use this to your advantage when negociating next to them.
As for removing the item from your credit report. You can ask that they remove it. They generally will if you income in full, but depending on the age of the debt they may not if you settle for smaller quantity. But you need to acquire this in writing BEFORE you dispatch them the money, as once you pay them rotten you have lost your leverage. As long as it remains on your credit report it does not concern if you pay within full or settle for less as in that is still the listing showing you have problems. But since it shows as paid it would still be better than unpaid.
Another minor issue is that you will owe taxes on any amount you settle for. So within your case where on earth they will settle for $2,000 less you will be issued a 1099-c and stipulation to pay taxes on that amount at the extremity of the year. This is less than the amount of the debt. However, if you do not the IRS will arrest up to you in a few years and you will consequently owe penalties and interest to them.
Are you sure you can wage the lump sum and write it off? If this notification is definately legitimate later proceed. But make sure it is, incase its a scam. It sounds abnormal that they would say you can recompense 1/3 of your debt with them short you asking to come to an arrangement with them.
Make an appointment near a debt advisor, their services are usually free and they will tell you exactly where on earth you stand.
Good for you deciding to seize yourself out of debt. Its best to get some proper guidance, because there may be other debts that can be lessened.
You cant constraint anything is taken off your credit report unless it is a mistake. It will stay in that for 6 years.
Credit card APR?
I am new to credit card and i am not really sure how it works.What exactly is APR? I read the definition, but it didnt lend a hand much.
I have a Standard purchase APR of 10.99%. lower the better or
complex the better?
Yea, please tell me how APR works and what it does.
I am afraid that it intended that percentage of money will be taken away from me annually for the money i used.
Please correct me and let me surface i am save to use this credit card.
Bnelow is the association of my credit card info.
http://citi.bridgetrack.com/usc/07/divid...
Answers: APR stands for Annual Percentage Rate. It means the amount of interest tack on to the purchaes you make, so yes, the lower the better. For example, if my APR is 14%, and I spend $100, the interest for those items (if I don't pay envelope it as soon as I get the bill) will be $14. So that system the next month, I will owe $114 - not $100, because my APR be $14 and my purchase was $100. So, the lower your APR, the better. APR is sort of like a duty, but you can escape it in most cases if you money the bill completely as soon as you get it instead of carrying a harmonize!
Here's the three most important things to know in the region of any card:
1. Pay your bill as soon as you get it- don't agree to a balance pass over to the next month (that's how individuals wind up drowning contained by debt, by "carrying" a balance- they will kill you next to the interest: aka: APR)
2. Look for a card with no Annual fee- does your card enjoy an annual fee? If it does, don't use it! There should be no annual levy, no membership fees of any class. Most cards will charge you something if you get a dosh advance, that is to say standard, but steer clear of cards with annual fees. Some cards charge as much as $150 / year a moment ago to have a card - how ridiculous!
3. Don't use lolly advances! Many cards will tender you the option to lug out a cash mortgage, and the debt will be applied to your card just approaching a purchase will be. There's an extra fee, as you would expect. BUT- They will put you on the path to drowning contained by debt! Don't do cash advance, ever!
APR is annual percentage rate
this is the amount of interest you will be charged plus the amount you charged on your credit card
So lets read aloud you charge $100 and your APR is 10% then your bill will be $110 because you charged $100 plus the interest (APR) of $10
Then let say you foot the minimum of..$15 your balance will afterwards be $95; so the next month your bill own have $95 plus interest on that amount of $9.95 which will generate your balance out to be $104.95
So primarily each month you transport over a balance you will incur that 10% APR on that harmonize
I hope i explained that good ample
APR stands for Annual Percentage Rate, and the lower the better.
The APR is the cost of the credit they extend you on a yearly justification.
The APR is applied to any portion of your balance that you do not settle off respectively month. So if you pay your entire bill respectively month you are not charged any finance charge. IF you rate only a portion of your purchases the remaining stability accures interest at the rate of 10.99% per year until you pay it stale.
This is how APR is calculated.
Your 10.99% APR is divided by 365(1/365), which would give you 0.0301095%. This is call the daily sporadic rate. This is what you're charged per day to get a balance. You hold that 0.0301095% and multiply it by the number of days in the month which within this case would be 31 and you win 0.9333945%. Let's say that you have a balance of $500, consequently you would multiply $500 with 0.9333945%, you would income $4.67 in finanace charges, which is added to your go together of your card at the end of your monthly billing cycle.
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