credit card debt

credit card debt
What should I do about the credit card debt? Do I have to pay before you can save for a home?

I have 26 years of age, do a 50k a year and want to start thinking about buying a house. What should I do with this credit card debt bother? Apart from car payments, the only debt I have is $ 5.000 in one of my credit cards. "I can think of saving for a house, or should I pay before you even consider it? Thanks.

There is no need to pay credit card debt before saving for a house. In fact, you may not want to pay in full anyway. It does not hurt your score credit (which will become important when applying for a mortgage) for a couple of open credit lines showing active use and timely payments. What just do not want to have more than 25% -30% of credits earned in use. On the other hand, if your credit card debt is at a high rate of interest that could only make sense to reduce substantially before starting your savings. The interest that banks pay on deposits is ridiculously low, while savings are important, indeed fundamental to buying a home, it makes no sense to pay high interest of credit card debt when you have the money in the bank I could afford. You are losing money every day that way and that just does not make sense to do that. If you feel you must start saving, I suggest you try to save $ 1 for every $ 4 beyond the minimum payment on their credit cards. Hope this helps.

credit card debt

Is considered the credit card debt open account or a written contract?

I live in the state Georgia and I am pursued by an old credit card that is in default. 's been over 4 years but less than 6 years from the date of default, depending on whether the credit card debt is considered an open account or a written contract in the State of Georgia, the statute of limitations may apply. The penalty is Staut 4 years for open accounts and 6 years for written contracts. Does anyone know for sure what applies debt credit card in Georgia? The account is with Citibank MasterCard and opened in the late 80s or early 90s. Thank you.

Spiff! The man who begins to disappoint me something terrible! The definition for "writing" contact is one where all issues are payment explained in detail. The monthly payments on time, everything. An "Open" or "revolving credit facility will not fall into this category because that the terms of trade of each month. One month you have $ 200 and $ 400 next time ….. and each month you have a variable amount of payment. You can afford, and then run again …. why call it a "tour" in the credit line. It is also clear in the codes UCC United States, and many states specifically label credit card debt accounts opened. Georgia is a state that specific labeling credit cards other than a written contract. Please see the link below. Again poor …. responses with a source of information cause damage on many here at Yahoo. If you are not a source of further examination is best not to think.

Dateline NBC – Credit Card Debt Trap Part 1 of 10