Credit questions
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Posted by fishguy
on August 14, 2001 at 14:44:06:
Hi all: My wife and I made some unwise decisions and ended up with around $12K in credit card debt. We paid and paid and paid on the debt and it never shrank. Recently, we did a debt consolidation with MBNA (who we had the debt with) with a dissapearing debt loan that will get us out of debt in 36 months. However, I have been reading about "charge offs" etc, and noticed that I was denied credit when attempting to get some electronics on a store card. Does the "dissapearing debt" program hurt your credit? We are paying on it, the interest is virtually the same, but we have a much higher payment that we MUST make each month. Just curious if we screwed ourselves... Thanks for any advice.
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