Thanks for watching! Do you have credit card debt that feels like a burden? Let me know your biggest takeaway from today's video!! Don't forget that you can also watch my FREE Masterclass now - 3 Habits that are Keeping You Broke: www.financialcoachjess.com/masterclass
COVID is a MAGIC word with credit card companies. They do not ask for proof. All have given me breaks, removed late fees, pushed due dates ahead by MONTHS, I asked for a week or two to get caught up, yet they gave me months without me even asking! They have all been so helpful & kind.
How about finding the date of the loan and seeing if the statute of limitations is coming... many states is 7 years from last payment.... Once Statute of Limitations has occurred, they cannot sue Credit Reports need to remove...My understanding of it...
It varies by state and I didn’t want people to get confused but yes! You can look that up depending on where you are at, but we also don’t want to be hanging on to this debt for that long. You could pay it all off, build up a savings, and focus on investing by the time statute of limitations kicked in.
The snowball effect taught by Dave Ramsey has helped me get out of debt! Take your smallest & put any extra towards paying it down every month until it is PIF! Then go to the next. You continue to pay the minimum due on all but throw as much as possible on one, it will go down in no time. It FEELS GREAT, to have one PAID OFF! It is SO ENCOURAGING that you look forward to getting the next paid off & so on. This can be done! I have paid down debt before & if I CAN DO IT, TRUST ME- YOU CAN DO IT!! GOOD Luck & God bless. Check out Dave Ramsey. He will pump you up!
@FinacialCoachJess What if I've been paying my CC debt via ZELLE on the exact DUE DATE --- But they still charge me interest off of it?? Isnt that illegal? I haven't made any purchases or was my payment late?? The APP has an option to ZELLE.. and I literally pay on the due date or maybe a couple days before.. 😡😡😡😡😡
@@FinancialCoachJess oh no its not the closing date. I literally pay on the minimum payment due date. My min pay due date is the 8th of every month. And my closing date is the 11th of every month. I pay on the 8th --- and I'm seeing my prior monthly bank balance stating "INTEREST CHARGED ON PURCHASES" Would this be a fraudulent activity committed by the bank?
Ok so it sounds like you are paying on the minimum payment due date which is almost a full month of having a balance. In order to not have interest accrue, you need to pay on or before the closing date. They make it very confusing to get interest from people. Why aren’t closing and due dates at the end of the month?🤔 to earn a few days worth of extra interest
@@FinancialCoachJess Oh are you saying after 21 days after the closing date that they can charge you interest? That's what I'm reading. But yeah I hate banks. I'm gonna get some life insurance or something lol
@@jamespak8175 yes, after the statement closing date so the 11th for you, any balance will start accruing interest. The statement balance should say 0 at the end of the month if you don’t want to be charged interest.
Thanks for watching! Do you have credit card debt that feels like a burden? Let me know your biggest takeaway from today's video!!
Don't forget that you can also watch my FREE Masterclass now - 3 Habits that are Keeping You Broke: www.financialcoachjess.com/masterclass
Great information
Appreciate it!
Great tips and advice!
Thank you, Adam!
COVID is a MAGIC word with credit card companies. They do not ask for proof. All have given me breaks, removed late fees, pushed due dates ahead by MONTHS, I asked for a week or two to get caught up, yet they gave me months without me even asking! They have all been so helpful & kind.
Awesome! Yes it does seem to be the magic word!
and now they can contact you through social media
😫 where will it end???
How about finding the date of the loan and seeing if the statute of limitations is coming... many states is 7 years from last payment.... Once Statute of Limitations has occurred, they cannot sue Credit Reports need to remove...My understanding of it...
It varies by state and I didn’t want people to get confused but yes! You can look that up depending on where you are at, but we also don’t want to be hanging on to this debt for that long. You could pay it all off, build up a savings, and focus on investing by the time statute of limitations kicked in.
How do I do this with 15 credit cards?
How do you do what exactly?
Excellent help for the mass amount of people in debt in this country today. You are a great citizen.
You are so kind! Thank you!
The snowball effect taught by Dave Ramsey has helped me get out of debt!
Take your smallest & put any extra towards paying it down every month until it is PIF!
Then go to the next. You continue to pay the minimum due on all but throw as much as possible on one, it will go down in no time. It FEELS GREAT, to have one PAID OFF! It is SO ENCOURAGING that you look forward to getting the next paid off & so on. This can be done! I have paid down debt before & if I CAN DO IT,
TRUST ME- YOU CAN DO IT!!
GOOD Luck & God bless. Check out Dave Ramsey. He will pump you up!
@FinacialCoachJess What if I've been paying my CC debt via ZELLE on the exact DUE DATE --- But they still charge me interest off of it?? Isnt that illegal? I haven't made any purchases or was my payment late??
The APP has an option to ZELLE.. and I literally pay on the due date or maybe a couple days before..
😡😡😡😡😡
By due date do you mean the period closing date? Or when your minimum payment is due? If it’s the second, they will charge interest!
@@FinancialCoachJess oh no its not the closing date. I literally pay on the minimum payment due date.
My min pay due date is the 8th of every month.
And my closing date is the 11th of every month.
I pay on the 8th --- and I'm seeing my prior monthly bank balance stating "INTEREST CHARGED ON PURCHASES"
Would this be a fraudulent activity committed by the bank?
Ok so it sounds like you are paying on the minimum payment due date which is almost a full month of having a balance. In order to not have interest accrue, you need to pay on or before the closing date. They make it very confusing to get interest from people. Why aren’t closing and due dates at the end of the month?🤔 to earn a few days worth of extra interest
@@FinancialCoachJess Oh are you saying after 21 days after the closing date that they can charge you interest? That's what I'm reading.
But yeah I hate banks. I'm gonna get some life insurance or something lol
@@jamespak8175 yes, after the statement closing date so the 11th for you, any balance will start accruing interest. The statement balance should say 0 at the end of the month if you don’t want to be charged interest.