Brehs with 700+ credit..

[Bboystyle]

People don't understand how quickly you get rid of debt by making more than the minimum payment. But credit card companies have consumers in a choke hold. People just can't bring themselves to pay off that balance. I can't wait to payoff my balance in full every time I charge something. The website keeps asking me are you sure this isn't a duplicate payment. I'm like STFU and take my payment!

How credit cards activate the reward center of our brains and drive spending​

How credit cards activate the reward center of our brains and drive spending | MIT Sloan

mitsloan.mit.edu

The Psychology Behind Credit Card Minimum Payments​

Credit Card Minimum Payment Requirement: What’s The Point

The psychology behind credit card minimum payments plays a significant role in how people manage debt. Take control by paying more and break the cycle!

alleviatefinancial.com

Swipe, spend and regret: The sneaky psychology of credit card spending​

Swipe, Spend And Regret: The Sneaky Psychology Of Credit Card Spending | Bankrate

Spending on cards can feel easier than paying in cash, but the financial consequences can be steep. Learn about the sneaky psychology of credit card spending.

www.bankrate.com

Im always waiting for that alert that my statement balance is ready

 

[Swirv]

I’m in VA rn. My debts are only 2 years old. I just paid some on em thincing it was a settle for less but the creditors are only disputing for me

I’m assuming you acquired these debts while living in VA. There is a statute of limitations for debts of all kinds, the length of time you are legally responsible to pay back a debt.

For unsecured debts like credit cards, in your state, the statute of limitations is 5 years if you signed a contract. 3 years if you didn’t sign a contract. Most people must sign a credit card agreement with the bank.

The thing about statute of limitations is that every time you make a payment on the debt, it reverts the clock to zero. So in your case with two year old debts, if you hadn’t made a payment on these debts, your responsibility to pay would’ve ceased in 2029.

In your state, you can still be sued by the bank to recover their monies after expiration, but you just have to prove that you didn’t make payment after the statute expired to win in court.

I’m not an attorney, for reference check:

https://law.lis.virginia.gov/vacodefull/title8.01/chapter4/

§ 8.01-246. Personal actions based on contracts.

 

[FukYaFeelings]

I’m assuming you acquired these debts while living in VA. There is a statute of limitations for debts of all kinds, the length of time you are legally responsible to pay back a debt.

For unsecured debts like credit cards, in your state, the statute of limitations is 5 years if you signed a contract. 3 years if you didn’t sign a contract. Most people must sign a credit card agreement with the bank.

The thing about statute of limitations is that every time you make a payment on the debt, it reverts the clock to zero. So in your case with two year old debts, if you hadn’t made a payment on these debts, your responsibility to pay would’ve ceased in 2029.

In your state, you can still be sued by the bank to recover their monies after expiration, but you just have to prove that you didn’t make payment after the statute expired to win in court.

I’m not an attorney, for reference check:

https://law.lis.virginia.gov/vacodefull/title8.01/chapter4/

§ 8.01-246. Personal actions based on contracts.

Preciate da info bruh !

 

[Swirv]

Preciate da info bruh !

Np. I forgot to add that most credit bureaus will keep derogatory items on file for 7 years. Sometimes it makes more sense to pay the shyt off. Hope you make a plan that helps you reach your goals.

 

[FukYaFeelings]

Np. I forgot to add that most credit bureaus will keep derogatory items on file for 7 years. Sometimes it makes more sense to pay the shyt off. Hope you make a plan that helps you reach your goals.

I thinc since I recently contacted the debt collectors it resets the 7 years. Either way even if it doesn’t I would still need to wait 5 more years so ima try and get em off. Dats what I was paying the credit repair company for, for 6 months but dey ain’t do shyt

 

[Eza]

Get out of debt brehs

:wow: hopefully this helps some of yall Background on me : Over the past 7 months or so i have paid off about $5,500 in debt (medical bills, old card bills etc) while this initially may not seem like much take into account that I for the most part like the average person have been HORRIBLE...

www.thecoli.com

This thread helped me change my whole life around, no bullshyt. I still repeat the phrase "get out of debt, brehs" all the time in my head.

Literally the GOAT thread from this forum.

Get ya'll ass the fukk outta debt, brehs.

 

[IAMDetroit]

That's foul
We all gotta start somewhere.

 

[BunchePark]

Credit Repair is not real

You built bad credit now all you can do is build good history there is no quick fix

 

[god shamgod]

700+ credit score , the world is yours

Can’t barely do anything without decent credit.

 

[Bboystyle]

I thinc since I recently contacted the debt collectors it resets the 7 years. Either way even if it doesn’t I would still need to wait 5 more years so ima try and get em off. Dats what I was paying the credit repair company for, for 6 months but dey ain’t do shyt

No it doesnt reset the 7 years. Whenever your last missed payment was, the 7 years start there.

 

[Silver Surfer]

Why is the credit calculation a government secret?

Feels like a game

 

[Chris Cool]

House burnt down. Once it got rebuilt, bought everything on a credit card and then paid the card of with the insurance money. Took my from mid 600s to the high 700s.

 

[Swirv]

I thinc since I recently contacted the debt collectors it resets the 7 years. Either way even if it doesn’t I would still need to wait 5 more years so ima try and get em off. Dats what I was paying the credit repair company for, for 6 months but dey ain’t do shyt

You’re better off negotiating directly with banks in my opinion.

When I was going through it back in the gap, my biggest mistake was not agreeing to do a paid in full plan with the bank, I went with a settled for less than full balance. That set my credit reversal back 4 years.

 

[Arizax2]

809 gang

 

[FukYaFeelings]

No it doesnt reset the 7 years. Whenever your last missed payment was, the 7 years start there.

Then I got like 4 years which is still a long time.

You’re better off negotiating directly with banks in my opinion.

When I was going through it back in the gap, my biggest mistake was not agreeing to do a paid in full plan with the bank, I went with a settled for less than full balance. That set my credit reversal back 4 years.

I don’t know what bank to call. I just called the company listed on my credit karma account. And you’re saying don’t settle for a less and do a pay for delete ? Is it possible to settle for less and have them delete it.