anyone with history on getting out of credit card debt before buying a house?

Deal Score0

im about 25k in credit card debt from school and a bunch of family and personal things and there are about a thousand commercials or websites claiming to get you out of debt but i have a pretty good idea they will all ruin my credit and any chance i have at buying a house in the future. if anyone has a suggestion or a tip for what they have done in the past that will hurt my credit score the least i will be grateful. thanks

8 Comments
  1. Reply
    Gaytheist Buddha
    July 18, 2011 at 7:50 pm

    Me. My ex left me with over $ 15k of debt back in the 90s. I scrimped to the bone for several years to payoff that debt. At roughly $ 300 per month it took a long time.

  2. Reply
    Joseph S
    July 18, 2011 at 8:49 pm

    Pay more than your monthly payment…as much as you can and still be able to live reasonably. If you only pay off your monthly balance you will never get it paid off. Pay of the highest interest cards first then move on to the others. Cut up all of your credit cards and don’t get any new ones. This is what I have done and it is extremely hard but it works. Why pay someone else to tell you to put together a plan like this. There is no quick fix to getting out of credit card debt, only hard work.

  3. Reply
    George
    July 18, 2011 at 9:26 pm

    Joesph is about correct. Pay minimum mo charges on all but pick out the highest interest rate card and pay as much on it every month as you can . Once it is paid off do the same with the next highest interest rate card and so on. But before you do this call each card co. and ask them if they can help you out by reducing their rate at all. If the first person you ask tells you no ask to talk to their supervisor. Some times this works sometimes not. It will help if you have been making all your payments on time. If you have been receiving offers for other credit cards tell each company what lower rates you have been seeing and ask if they can match them.
    After you have done this then start paying each one off. Also in the future be very diligent to make all your payments on time so you don’t get slapped with late fees. Hope this helps you.

  4. Reply
    StephenWeinstein
    July 18, 2011 at 10:00 pm

    What will hurt your credit score the least is to pay the $ 25K in credit card debt, in full, without settling or negotiating. If you do not have enough money to pay $ 25K, then you also do not have enough money for the down payment on a house and would not be able to buy one even if you did get out of debt without ruining your credit.

  5. Reply
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    July 18, 2011 at 10:04 pm

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  6. Reply
    Richard
    July 18, 2011 at 10:47 pm

    credit-report-free.totalh.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

  7. Reply
    Alex
    July 18, 2011 at 11:39 pm

    If you are simply looking to increase your credit score in the near future, I agree with Joseph and George. However, there is another school of thought that suggests paying more toward the lowest balance accounts. This way, the lowest balance account will be paid of sooner and free up funds to pay debt each month.

  8. Reply
    Jennifer
    July 19, 2011 at 12:17 am

    Hi,

    I used “Credit Solution” to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58% and improve my credit score .It’s legitimate . I came across this company on NBC News Special Edition.Check it out here:
    http://Credit-Solutions.notlong.com

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