Stress over Store Credit Cards!?

I have many store credit cards and I want to pay them off ASAP ,I am a co-signer for three cars that are not mine but they are under mine name,I had applied for a personal loan and I didn't not qualify because I owe too much money on them cars according to there database. I try to give more than just the minimum amount due each month on the credit cards, but I am always tight with money so that is why I want the loan to pay each credit card that I possibly own. They also told me that I can bring a co-signer but honesty I prefer not to tell any one my situation. I don't use my credit cards any more but I am so stressed because I feel pressure to pay them off, Is there any advise Thanks..

Stress over Store Credit Cards!?

Step 1: Like the poster above, I agree, get the people that you co-signed for to refinance SOON! Loan offers here:

http://www.fastlender.com/loan-type/auto...

Step 2: Get a 0% APR credit card to transfer those store cards to. Go for the longest introductory rate possible and be sure that the intro rate applies to BALANCE TRANSFERS - not just new purchases. PAY OFF the new card BEFORE the intro period ends. Balance transfer card offers here:

http://www.fastcreditcardoffer.com/credi...

Step 3: NEVER co-sign for anyone else again unless you are prepared to feel the effects as you are feeling now.

Step 4: NEVER apply for a store card again - there are simply too many regular cards with WAY better rates.

I disagree with the debt consolidation idea. You made it sound like it is hard to pay extra but that you are not behind. Since debt consolidation looks bad on your credit I do not advise it to anyone unless their credit is allready shot.

Anyway, I hope this helps and I wish you the best of luck. One final thought: Try not to stress about things you cannot control. Do your best to handle them in a responsible manner and it will work itself out.

Stress over Store Credit Cards!?

The dues must be very high due to your making only partial payment each time. The stores can not wait indefinitely for their dues. They have now asked for thwe co-signer to confirm their dues will be settkled. Best thing is to settle the outstandings and then be careful. Best of kluck.

Stress over Store Credit Cards!?

First thing you need to do is to take a pair of scissors and cut every single store credit card you own into tiny little pieces.

Then go online and research credit consolidation.

There are many credit consolidation companies that will take all your cards and put them into one payment for you.

Make sure you find a company that has good feedback - you could even inquire at your bank as to whether they're good or not.

Now the big question: WHY are you co-signer on three cars? Everything that doesn't belong to you shouldn't be under your name, as it can ruin your credit.

I'd definitely try to approach the people you co-signed for and find out if at least two of them can refinance their cars without using your name.

A good first step might also be to call each of your credit card companies and find out if they can lower your interest rate - often a simply inquiry can help to lower it and help you to pay off more of the actual money you owe, not just the interest.

Good luck! You're certainly on the right way.

Stress over Store Credit Cards!?

Perhaps the 3 people who you co-signed for can re-apply for new loans under their names only if they made 12 payments on time. Other than that, there is no other avenues open. You're biting off more than you can handle and eventually you will hit bottom with no way out.

Stress over Store Credit Cards!?

Go to Barnes %26amp; Noble, and read %26quot;The Total Money Makeover%26quot; by Dave Ramsey.

The first half of the book talks about money, budgeting, and tries to dispell a few myths about money and debt.

The second half describes a plan to get out of debt, and stay out for the rest of your life.

You can also find some inspriational stories from people who followed the plan and paid off tens of thousands in debt in about 2 years, at www.daveramsey.com

Stress over Store Credit Cards!?

I can imagine your stress, and it is clear why you didn't get the loan. You are responsible for all the balances on the cars as well as the cards. It is very possible your debt to income ratio has got your credit score in very low territory.

First, if at all possible get the car loans refinanced in the name of the person who is actually using the car. If they can not get credit without a cosigner they cant' afford the car and it needs to be sold. I am not sure if you realize how thin the financial ice is that you are on. If and when the cars don't get paid for it is you they will come after and collect from.

You need serious credit counseling and someone to walk you though the mess you are in i would recommend you go to DaveRamsey.com and fond a counselor in your area to walk you though this mess.

Stress over Store Credit Cards!?

why on earth would you co-sign for three cars??? Those 3 people can stop paying whenever they want and the creditors will come after you. get a second job - start paying extra on the card with highest int rate or the lowest balance. once one is pd off, add the extra money you're saving from no min pmt on the pd off card to the next card and so on