I have a credit card that I have managed to max out over $2,000 and now money is really short and I can't really afford to pay it.  What is the worst that can happen to me over a period of time?
124085
Frank!  Go away!\n\nI agree with the other people's advice...if all you owe is $2000 then it's worth trying to work it out with the credit card company.  Even if it involves making minimum payments.  That would work out to around $60-80 a month.  \n\nBy doing that, you avoid additional fees and penalties, until you can get your feet under you financially.  \n\nThe worst thing?  First they will place a report on your credit, making it hard for you go get loans in the future.  \n\nFor $2000 they may sue you.  If you have an income, or property such as a home or car, they may decide it's worth the effort.  If they do, tack on court costs and lawyer fees to what you owe.\n\nOnce they get a judgement, they can either garnish your wages, attach a lien to your bank accounts, take your car or put a judgement lien on your home (then you can't sell it).  \n\nThey don't go after your furniture or other posessions as nitwit says above.\n\nSo, my opinion, call the CC company and work it out.  If they don't budge, send them a letter to cease and desist so they stop calling you.
661204
Don't panic!  First, they're not going to come after the store.  Credit card companies can't really come and take things...that's why they call it unsecured credit.  Furthermore, they would have to go to court to get any kind of judgment against you, and even if they did, all they could do would be to go after your bank accounts (in your own name) or paycheck, but even that is extremely unlikely.  So, really, this isn't worth worrying about right now.\n\nSecondly, let's undo some misconceptions.  The minimum payment (not finance charge) that doubled is not because of any 'bad credit' statement.  It is standard.  Suddenly, lots of us are seeing the minimum payments increased, and it is something that results from a change in the law, not any decision that the credit card companies are taking.  The requirements have been made because many people have payments so low that they may never get out of debt.  The problem with such a law is that it has had the effect of suddenly whipsawing people into deep trouble that shouldn't have gotten there.  But we can't change that here.  Let's talk about how to deal with the new reality.\n\nYou can simply stop paying, but that may not be your best option.  It will affect your credit for real, and limit your options in the future.  You may also consider refinancing somehow, but this may only get you in deeper.  I think the best thing I could recommend is to get in touch with a credit counseling agency such as CCCS.  They may be able to get your monthly payments reduced back down to the level you were paying before.  It won't happen without some problems (such as cutting up your credit cards), but it should help you get out of debt entirely within about 5 years.\n\nBest of luck to you.
470616
6 months to a year with no late payments should set you up credit wise, but that is only the beginning. Learn how to manage your credit card! You don't know enough about how they work and could find yourself in a bind pretty easy.\n\nIf you are smart, you will use the card sparingly and pay it off each month. \nEach month that you owe a balance you will be charged interest... sometimes a fairly large amount, maybe nearly as much at the payment. \nFor instance: If you have a $500 balance, pay the minimum payment of say $20 and and if the monthly interest is $12... you are only paying $8 against the total each month. \nAt the end of One Year, with no new charges, you would Still owe $404 of the original $500 and the credit card company would have made $144 off of you in interest!\nWorse yet, if you go over your credit limit, you get dinged around $29 to $39 usually. If you hit your maximum and interest is attached before your payment gets processed, you can get hit with the "over limit" charge of $29+ then too. Pay late and it is another $29+... Think about it! It can add up really fast!\n\nIf you pay $300 on a $700 maxed out limit you will have $300 less any due or accruing interest payments in available credit. Probably around $250 is all, if you want to play it safe and not risk going over your limit and being charged extra.\n\nTake the time to look up some credit management information and learn how personal credit works and the do's and don'ts. You will save yourself worlds of trouble in the future if you do that now.\n\nI didn't and sure wish I had! I got sick and couldn't make the payments and now, I am Still paying off what is mostly interest and penalties.... It sucks and so does my credit rating!
198551
Try applying for Cap1 or Discover.  If you get denied you may have collections or something else negative on credit.  You'll want to open a secured account at either Bank of America or Wells Fargo where you will put money into a savings to act as collateral.  When you close the account you'll get that money back plus some interest.  Stay far away from companies offering a secured account that don't ask for a deposit.  They will give you a card with a full balance!  If the card has a $200 balance, you will owe $200 of the bat.  They say that they're doing you a favor because if you pay them on time you'll get better credit.  Your credit score is determined by a large part by your balance-to-credit limit ratio.  The lower you keep your balances compared to your credit limits, the better your score will be.  Using these scam cards you are giving yourself a ratio of 100%!  Stay with the big dogs or your trusted local bank if you go with a secure account.  Keep your ratio under 50% and your payments on time and you'll get offers for unsecured credit cards in 6 months or less.  Get two or three of those (keeping them under 50%) and you can close the secured account, take your deposit, and buy yourself a "congratulations" gift with the $200.
243779
The safest thing to do is contact them ASAP and make a payment that will bring you below your limit.  Many things happen when they calculate your statement at month end, they assess extra fees and penalties, they adjust your limits and they re-categorize your risk profile.  All these thing can have an effect on what your cost will be, so don't wait. \n\nWhen you call them take the opportunity to ask for a credit increase if you are going to hit your max periodically.  \n\nNever forget that in the hands of undisciplined users --CREDIT CARDS ARE PURE EVIL.  DO NOT LIVE BEYOND YOUR MEANS.\nYour choices now will have an effect on your credit needs in the future (like buying a home.)\n\nGood Luck ~The Renegade Banker
413234
As long as you are old enough to legally sign a contract (usually 18), you can get a credit card.  That being said - be VERY VERY VERY careful with it, and DON'T get one if you don't have the means to pay for what you get.  Lousy credit can ruin your ability to do things like get a house, a car, pay for your kids' tuition - it's something that can stick with you for MANY years.
199119
if witch ever credit card was racked up was under your name also than it can result you in bad credit
561682
If you terminate your aggreement you will lose and more than likely get a bad credit rating.If you can afford to reduce the payments than thats the best way.Once the Bank/agency get their money they will be content.The last thing they wanna do is go to court to get their money back.Good Luck
440371
Hmmm interesting, well i dont know much about credit cards. I know that this has done me and my friend good in the past in bad times. Give this a look, tell us what you think.\nhttp://shurl.org/AWxZX
642985
the fact is you still owe money on the credit card\nwhy not be like most other people and pay your credit card bill
617941
Of course, this is exactly WHY you shouldn't allow yourself to GET bad credit.  It is extremely costly, because it forces you to lose out on good opportunities like this.  There's a very high likelihood that you WON'T be able to get credit anywhere.  \n\nHere's what I would consider.  Try some of the high risk credit card lenders.  See if you can get a home-equity line for your home.  You might also be able to depend on 'trade credit' for part of it (foods, etc.), but you'll still need enough to equip the place, and frankly, your choices are very limited due to your past record.  I hope you can find something.  Otherwise, you'll just have to wait 7 years until your credit clears up.\n\nBest of luck to you.
16032
Yeah, get rid of that card and get one that gives you cash back.  That's better than anything you can redeem with credit card "points."
138804
you can pay double the minimum payments. you can transfer the balance to a lower interest rate card and pay double the minimum payments.
273715
throw away your credit card.  get rid of things you dont need\n\n\nthank you come again
28392
You only have to worry about a crisis if you spend more than you can pay off. You should use the card like cash, if you dont have the money; dont use it. But it is a good tool if you know that you WILL have the money. Then you can use it and pay the bill when you get it. The biggest problem people have with credit is not realizing that if they pay the amount in FULL each month you will accumulate NO INTEREST. But if you only pay the minumum amount and let the balance float the you will be floating it for as much as 20 PERCENT of the balance. My advice is to use it two or three times a month and ALWAYS pay the TOTAL amount due.
32657
What you should do is talk to them and explain your situation... Also I would look into going through a debt consolidator... That is what I do... and I was in your situation and now all I have left is less than a year and I am debt free!!!! I had to go to court for one of my bills... and when I did that the person said that they couldnt take money I didnt have, so they worked with me so I am paying a very low payment... SO your best solution is to talk to all of them... They may be able to help you out...
407236
borrow it from someone or take a credit card advance