How much in debt are you?

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Monsieur Muggles		#61	[-]
Posts: 4827 (08/27/08 1:53 PM) Reply Quote More Recent Posts Message Connection Block Invite	LaurenTheLush wrote: Now I'm curious.... Does anyone know if the amount of time it takes for you to make a payment affects your credit score. For example if you get your credit card statement on September 1st, and the minimum balance is due September 30th. If you pay it the 2nd and send it out, does that improve your credit score then say sending it out the 25th, when it's still on time just 3 weeks later? No, it doesn't, as far as I know. The credit bureaus check to see only if you made your payment on time and how much is your balance. Improving your score is achieved by reducing your debt and proving that you can handle what debt remains responsibly by paying your bills on time for at least the minimum amount due.
jessica has spoken		#62	[-]
Posts: 6442 (08/27/08 2:56 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	Most creditors update the credit reporting one a month, but they all do it at a different time of the month. And the only way paying off debt is going to help your score in any way is if you've payed a large portion of it.
Tres Gay		#63	[-]
Posts: 3860 (08/27/08 3:33 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	I don't have anything that is PAID IN FULL I'm also sleeping on a leaking air mattress.
iismepeter		#64	[-]
Posts: 2964 (08/27/08 3:43 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	I always pay off my credit card bills. I really don't get how people just leave a balance on there. Maybe because I'm too cheap to pay interest.
Beefcake		#65	[-]
Posts: 1307 (08/27/08 3:53 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	It always pisses me off that you can pay a monthly bill to someone for 5 years and always be early, but if you're a day late just once, they start slapping you with late fees. Assholes. There's nothing wrong with having debt; it just depends on whether it's good debt or bad debt. Grampa Beefcake always told me, "Beefy, never borrow money on a depreciable asset". So borrowing money for a car or clothes or restaurant is not good. Borrowing to go to school and get a better-paying job, or borrowing to buy a house (that isn't insanely over-valued) are good debt. Rich people never want to pay off their houses; with the interest deduction, it's pretty much free money.
Alexfangirl		#66	[-]
Posts: 870 (08/27/08 3:53 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	About 1500 on credit cards. Don't get credit cards at 18 kids.
Tres Gay		#67	[-]
Posts: 3863 (08/27/08 4:03 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	PappyBeefy was a smart guy
someonestolemyfries		#68	[-]
Posts: 1423 (08/27/08 4:13 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	I didn't have debt until my moods started swinging like a married couple in the seventies.
DownUpside		#69	[-]
Posts: 113 (08/27/08 4:20 PM) Reply Quote More Recent Posts Message Connection Block Invite	StarrEise wrote: LaurenTheLush wrote: Now I'm curious.... Does anyone know if the amount of time it takes for you to make a payment affects your credit score. For example if you get your credit card statement on September 1st, and the minimum balance is due September 30th. If you pay it the 2nd and send it out, does that improve your credit score then say sending it out the 25th, when it's still on time just 3 weeks later? No. It only counts against your credit score if you're late on a payment. Different creditors handle late payments different ways - my mortgage can be up to 15 days late with no penalty, but my credit cards start assessing fees if I'm one day late. You don't get a bonus for paying your revolving debt earlier in the billing cycle. There could be a possible bonus. If you aren't paying the credit card bill in full, the earlier your payment is posted, the sooner you will no longer have to accrue interest on that amount. It could save some money every month, depending on how much you don't pay off. Otherwise, like some other people have already stated, the companies report to the credit bureaus once a month. While there are multiple options for them to report lateness (30, 60, 90 etc... days), an ON TIME (or AS AGREED) cannot be qualified.
TequilaVaquero		#70	[-]
Posts: 2035 (08/27/08 4:30 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	hwamf wrote: I've said too much. I'm sending you a package of cupcakes...and an alarm clock. OOOh, now I'm all excited! 8. Went to college, got decent jobs, waited to have kids, and at all times lived below our means. Yeah, we're old and cheap. But we have no debt, kids college is paid for and we owe no one. : ) Life is good. That would fall under old. If both your kids are done with college and you waited, you are old. Not that that is the norm, so good job and shit.
Mister Peepers		#71	[-]
Posts: 3257 (08/27/08 5:17 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	Hamdingers wrote: PassionatePiscesMan wrote: I bought a house I couldn't not afford. Now you sucker taxpayers are going to bail me out. Ha ha ha ha ha You should be shot on sight just for joking about that. No, really. It's not funny yet. It probably never will be. The politicians from both sides of the aisle who voted for that shit-fest should be shot.
ColbyRulesAll		#72	[-]
Posts: 7809 (08/27/08 5:23 PM) Annoying sports freak Reply Quote More Recent Posts Message Connection Block Invite	Thousands and thousands and thousands of dollars. Because I have a mortgage.
CBRetriever		#73	[-]
Posts: 20526 (08/27/08 6:43 PM) MESS member Reply Quote More Recent Posts Message Connection Block Invite	just a three year car loan - I pay the credit card bills in full when they come in
worstdog		#74	[-]
Posts: 3269 (08/27/08 7:42 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	House and one sexah beige mini-van!
TexasBlues		#75	[-]
Posts: 5276 (08/27/08 8:05 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	Just the house.
MMMadcow		#76	[-]
Posts: 6018 (08/27/08 8:23 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	I'm paying off my car this month, and then it's just the house. I pay off the Discover card every month. They hate me. Amy, I pay my bills as soon as I get them, too. Otherwise, I'd probably forget them while they languish on the refrigerator door on a hook.
Mom HOLIO		#77	[-]
Posts: 431 (08/27/08 8:43 PM) Registered Adult Reply Quote More Recent Posts Message Connection Block Invite	$209.59 in unsecured debt which will be paid off this Friday. We don't count First National Bank of Mom (my home equity line) which is higher than I would like to see it. It is used for emergency car repairs, medical expenses, vet expenses and to spoil my grandchildren.
WesternBulldogs1		#78	[-]
Posts: 5055 (08/27/08 8:51 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	I will pay off all of my debt after my trip to Las Vegas next week.
wickedwitch1111		#79	[-]
Posts: 5129 (08/27/08 8:59 PM) Registered user Reply Quote More Recent Posts Message Connection Block Invite	^^ wishful thinking
TequilaVaquero		#80	[-]
Posts: 2045 (08/27/08 10:02 PM) Registered User Reply Quote More Recent Posts Message Connection Block Invite	Either pay it off or double it.

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