Finance News

Listen: "At least 30% below your credit limit"

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Chung Sung-Jun
Automatic TRANSCRIPT This transcript was automatically generated by AudioBurst technologies

Courts are many cordial may have take the money and apply to which the court with the highest interest rate they do want to continue to do that then truly red meat thirty percent below you're credit limit do credit card companies recognize what's happening to the ECB signs and no no put a red flag on you somehow yeah sure not only did they see what's going on on a major credit card great court companies have be ability to to monitor your credit so they might be able to take go with in shape wait a second you know Mr Jones is he's one of his credit card balances honest about their credit cards are also increasing that's a red flag and what that individual credit card or what they may do is well were you were credit limits an that each doing it could done well looking at me because you know that's going to affect utilization ratio even you know well more devastating likes were speaking with Paul foster he's we older and founder of credit management firm in New Jersey called Better qualified were talk about tips on tackling holiday bills alright but wow all right so of the of the Miles you handle what what public what percentage of the end up in some sort of bankruptcy whether it's chapter seven er chapter thirteen I know that's a last resort but you know don't mention if it's a Lance trades or put it could mainly to resort that's not any resources not you may was that do much is it should be you know we all have a protection that under no law that's it you can pay your bills people you control IO bankruptcy and the biggest tragedy Khamenei it's when I wreak stories about people that actually commit suicide because they were in debt and fighting into trouble and he people think bankruptcy is he ended their rights bankruptcy the beginning appeared new heights been there for eight and if you find where the programme any you you know you really have Schumer big information education one should get free you obviously you don't wanna go back into this same situation but we got all warm most and you're getting race to bankruptcy then with him twelve good twenty-four months and we don't know time for might even less could trillion years it would be like it never happened you could have a a credit score in the seven hundred you could Golden Hill by and I wish you could keep right Cory CPB you know with this get free wait could actually right after bankruptcy what about the idea just not paying about forget it's that big hole in the mail we all they wanna Bismarck in a pay a basic and that's really the worst thing he could do you know you can not just totally ignored the creditors you one example why did communication open especially with banks and mortgage companies.