How long can you put off paying credit card bills?
451036
You may consider closing the accounts -- you will still have to pay the balance but this at least stops your phone calls. You can also work with the creditor--- in addition to closing the account, you may be able to get the interest and/or late payment/non-payment fees reduced. They generally won't do this if you do not close the account. Keep in mind--- after 2 months with no payments, they are going to increase your interest rate painfully, especially if you are a young person--- so you are going to want to dump those cards as soon as you can anyway!\n\nYou are really going to hurt your credit rating during this time, though, and you may not realize how important it is to have good credit yet.  It takes on average 7 years to rebuild credit from serious delinquency... a 100-point difference in your credit report may mean the difference between getting approved for a home loan or car note and getting denied... a 20-point difference may mean up to a half-percent or more on a mortgage rate. So if you have a reasonable minimum balance, it may be worth it to see if you can work even though you are working on your thesis. Not full time or even part time work--- just enough to be able to make your minimum payments. Because in the long run, it is going to cost you a LOT to miss them.\n\nAnd as a very LAST case suggestion--- and I mean only in the worst of circumstances because this is a very bad move--- take a cash advance from one of the credit cards, deposit the money in your bank account, and pay the minimum payments.  This is going to KILL you in interest and fees but it is WAY cheaper than having to pay 12% over prime on your next car note... just make sure to pay it off as soon as you can!
1111286
Yes.  Charging off is just an accounting term, and most companies do this after a certain period of no payment.  This does not make the debt disappear.  You still owe the debt, so they can sue until the statute of limitations runs out in your state.
1101662
Don't miss payments on any loan, credit card or collection agency.  Review your credit report once a year or more and check to make sure everything on there is YOURS.  \nDon't neglect your bills....your credit will go down from there!
623639
You may be broke now, but as in everything else this won't last long. The interest on credit cards amount to alot of money. Continue with this and you will find in now time that you are completely out of debt. Talking with Credit counsellor helps alot. They are a free service and they can help you find ways to budget and pay off all debt. They are very good on helping set up a livable budget.
483630
Pay off the credit cards first. Any left over, can go towards less swanky furniture. The amount you pay in interest on your credit cards are astronomical. Think of the amount you can save in interest alone. Call the banks and find out how much! It's enough to make one sick! A word of advice, if you don't have money, don't get it on credit!
175445
You need to look at the original contract with the credit card company.   Generally it's 60 days.
446449
Ok.  When a credit card or whatever charges off your account, it is usually sold to a collection agency.  You will now have 2 reports for the same thing on your credit.  This is ok.  If you have 3, you should contact the credit agency.\n\nYou have 7 years FROM THE LAST PAYMENT MADE before it falls off of your credit.  If it's been a year since your last payment, you have 6 years left, even if it was just charged off this month.  If you have no intention on paying, do not contact the collection agency, it could restart your 7 years.
731201
Keep in mind that credit card companies (most) are not going to report if you are 30 days or less delinquent.  If you are within this time frame definately get it current and it wont affect it at all.  If you are more than 30 days get it current and they will report that you are paying as agreed.  It does help your score to not go any lower but only on time payments for several months are going to raise it.  Also, don't be afraid to talk with your creditor, they actually will help you.  If you need help paying your bills tell them.  They will get you on a program where you can pay less than your min due and they will report that you are paying as agreed.  Only do these programs if you CANNOT bring the account current with one payment.  The program is an alternative to paying less than the min due.  Good luck.
44997
I think it's seven years, but you would be suprized that most credit card companies will give you credit amediately knowing that you have no more debt!
607012
start by becoming a responsible spender. pay your bills and keep paying them on time. it will take a while, but eventually your credit score will come up. if you are in debt over your head, try a consumer credit counseling service. they help you pay off your bills and a lot of times reduce your debt load by negotiating with the card companies on your behalf. might be a good idea to check into
785892
It will not hurt your credit if you pay off their bill.  If you do not, then it will.  After all you did promise to pay if they do not.
526986
How soon will it be cahrged off? Your credit is already affected so it won't hurt it any more if your credit is bad already. Secondly, make CERTAIN it's your bill and call the company to ask for verifacation that this is a legit bill. Even if you know it is. Why? Because most companies don't really keep good records for the long haul and they maybe can't produce your bill. Thus, you're off the hook.\n\nThen again, BEFORE you make arraingements understand that once you inquire on the bill that you're opening up the credit hounds to pursue you until payment is recieved. \n\nI appluaude you for wanting to clean it up. Just understand what it is, how much to pay it off in a lump payment and don't over commit to something you can't afford as far as payments.
817563
Charge offs, paid or unpaid, remain for 7 years from date of last activity.  Credit reporting agencies do not forget to remove them; they purge automatically.  \nPaying a charge off won't remove it, but not paying can cause a judgment to be filed, and that also can remain for 7 years from date filed.\nPaying a large debt may increase your score somewhat, but, also, future creditors look at unpaid charge offs less favourably than paid charge offs.
155047
Most consumers do not know that if they only pay the old minimum on their credit cards it would take about 40 years to get out of debt.  The feds are doing this to help out the consumer, although it may not seem like it right now to you.\n\nI have been there, my friend, but I am now debt free (well except a mortgage and a car loan) and here is how i did it.\n\n1. Stop using your credit cards.  Cut them up.  If you cannot bear to do that then put them in a baggie filled with water and freeze them.\n\n2. Instead of paying your new minimum every month, pay half of it every 14 days.  Not twice a month, but every 14 days.  You will be amazed at how quickly your debt disappears.\n\nThe credit card companies would love to go back to the old system and do not want you to know about the pay every 14 days method so they could take more of your money.  \n\nWhen you get them paid off, then only use them as a "charge card".  The difference is that you pay that off every month and you do not pay them any interest.\n\nWork hard and get this done and you will feel so GREAT when you are debt free you may not want to rack up charges ever again.
872664
the info I have is for the US but it should be similar for Canada, most credit card companies will sell your debt to a collection agency within 6 months once it goes to collection you can normally negotiate down to between .40 and .50 per dollar owned if they will not negotiate with you the first time you call then let them stew for a month or so and then go at them again until they accept your offer it may be time consuming but worth it Good Luck
715391
Go to the credit bureau in your town and they can help you.If a creditor sees that you paid the bill then it won,t be used as a write off...Alot of people are afraid of the local credit bureau but don,t be they are fair and are there to help you build your credit........everyone makes mistakes sometimes,gets in a bind and messes up,don,t dispair...You do know that after 7 years you can get bad debts removed from your credit...Also everytime someone checks your credit it scores against you,did u know that? good luck
276145
Apply to different credit cards but don't overdo it.  3-5 should be ok.  Make sure you do not send a late payment, that hurts your credit.  Try to pay more than just the minimum payment.  Don't max the credit cards either.  That won't help your credit.