- Thursday, 20 Aug 2009 3:50 PM ETBy: John Ulzheimer
During college, I racked up quite a credit card bill (about $35,000 in credit card debt plus $8,000 in student debt). I have stopped using the cards and have been paying above the minimum every month. I talked to a California based company,and they want me to go delinquent on my card payments and to pay them $7000 into an "escrow" account so they can try to negotiate down my debt with the credit card. Do you have any advice for me as to how to absolve my credit card debt? I really feel stuck. » Read more - Thursday, 6 Aug 2009 8:18 AM ETBy: John UlzheimerA recent Bloomberg article “Unintended Consequences of Mortgage Modifications: Falling Credit Scores” addresses a topic that deserves serious follow up. The article accurately identifies that loan modifications could damage your FICO credit scores, if they are reported to the credit bureaus using the new reporting guidelines set up by the credit bureaus and their trade organization, the Consumer Data Industry Association (CDIA). » Read more
- Tuesday, 21 Jul 2009 5:13 PM ETBy: John UlzheimerIf we pay off the credit cards, how likely is it that the credit card companies will close our accounts? We don't want to be without any credit. So, what's the best way to pay off the debt without losing our credit? » Read more
- Tuesday, 21 Jul 2009 12:05 PM ET
I recently got my hands on Michael Jackson’s tax documents and a good ol’ fashioned assets vs. liabilities statement, courtesy of the folks at "EXTRA" who wanted me to assess his personal finances. » Read more - Thursday, 16 Jul 2009 1:54 PM ETDebit cards and me, definitely not BFF’s. So the story of the quadrillion-dollar pack of cig’s has me a tad smug, as much as continually amazed at just how crazy debit cards can be. » Read more
- Monday, 13 Jul 2009 3:57 PM ETBy: John UlzheimerMy minimum payment on my one card went from $250 a month to $350 a month and is pushing the limits of my budget which is already in the negative or barely positive. » Read more
- Tuesday, 7 Jul 2009 9:31 AM ETBy: John UlzheimerOn June 30th Bloomberg ran an article called "FICO Scores Show Flaws as U.S. Banks Cut Credit Lines." The article sufficiently bashes the credit score giant and their core product by pointing out that consumer credit scores are lowered when credit card issuers lower credit limits. » Read more
- Wednesday, 1 Jul 2009 5:59 PM ETBy: John Ulzheimer
I'm trying to raise my credit score to purchase my first home. My credit score is 635. I was late a few times on a couple of loans. I've since paid them off. When I purchase my score the formula uses those old accounts that I've paid off to formulate my score. Is that fair or correct? » Read more - Tuesday, 30 Jun 2009 4:10 PM ETMy favorite Dollar Dilemma regarding credit scores went something like this: “I make over six-figures, my credit should be awesome!” The more we need credit scores, the more misinformation still seems to fester. » Read more
- Friday, 26 Jun 2009 3:28 PM ETBy: John Ulzheimer
Q. I receive 6-10 calls per day from the debt relieve people asking me to contact them so they could either wipe out my credit card debt completely or a least reduce it by more than half. » Read more
WE WANT TO HEAR FROM YOU
Questions for Carmen or any of our experts?
COMMUNITY
There are now more ways than ever to keep up with Carmen and On the Money. Follow us on Twitter, join the Official Facebook Group and connect directly with Carmen, subscribe to our weekly newsletter and watch full episodes on iTunes.
Twitter 
Facebook 
ON THE MONEY NEWSLETTERGet expert advice, special consumer deals and more delivered to your inbox every Thursday night. Subscribe to the On The Money Newsletter.
ON THE MONEY PODCASTDownload full shows of On the Money to your MP3 player.
FINANCIAL TOOLS
CARMEN'S BUDGET CALCULATORUse this interactive tool to calculate where
you should be putting your money.
NEW RULES OF PERSONAL FINANCE WORKBOOKSTake control of your money and get on the road
to success with Carmen’s New Rules of
Personal Finance Workbooks.
FINANCIAL FITNESS SERIESCarmen coaches her viewers through a rigorous program to get them on the road to financial freedom. Her free workbooks are included.
ABOUT
"On the Money" is a one-hour personal finance program hosted by CNBC's Carmen Wong Ulrich, provides personalized actionable information that will give you the ammunition you need to power through these volatile times. "On the Money" explores your personal finance options, guide you through information and choices and encourage you to make the best decisions for your life.
SHOWTIMES
Saturdays 8P ET/ 5P PT
CONTACT US
Phone: (877)753-CNBC
SMS: 26221 Keyword: OTM
Standard text messaging rates apply
Connect on Facebook
Aug.20
3:50 PM ET
Thursday, 20 Aug 2009
Posted By:John Ulzheimer
During college, I racked up quite a credit card bill (about $35,000 in credit card debt plus $8,000 in student debt). I have stopped using the cards and have been paying above the minimum every month.
I talked to a California based company,and they want me to go delinquent on my card payments and to pay them $7000 into an "escrow" account so they can try to negotiate down my debt with the credit card.
Do you have any advice for me as to how to absolve my credit card debt? I really feel stuck. Read More
I talked to a California based company,and they want me to go delinquent on my card payments and to pay them $7000 into an "escrow" account so they can try to negotiate down my debt with the credit card.
Do you have any advice for me as to how to absolve my credit card debt? I really feel stuck. Read More
Topics:Credit Cards | Personal Finance
Aug.06
8:18 AM ET
Thursday, 6 Aug 2009
A recent Bloomberg article “Unintended Consequences of Mortgage Modifications: Falling Credit Scores” addresses a topic that deserves serious follow up. The article accurately identifies that loan modifications could damage your FICO credit scores, if they are reported to the credit bureaus using the new reporting guidelines set up by the credit bureaus and their trade organization, the Consumer Data Industry Association (CDIA). Read More
Topics:Mortgages | Credit Cards | Personal Finance
Jul.21
5:13 PM ET
Tuesday, 21 Jul 2009
If we pay off the credit cards, how likely is it that the credit card companies will close our accounts? We don't want to be without any credit. So, what's the best way to pay off the debt without losing our credit? Read More
Topics:Credit Cards | Personal Finance
Jul.21
12:05 PM ET
Tuesday, 21 Jul 2009
Posted By:Carmen Wong Ulrich
I recently got my hands on Michael Jackson’s tax documents and a good ol’ fashioned assets vs. liabilities statement, courtesy of the folks at "EXTRA" who wanted me to assess his personal finances. Read More
Topics:Music & Musicians | Debt | Personal Finance
Sectors:Media
Companies:Warner Music Group Corp. | Sony Corp, SNE
Jul.16
1:54 PM ET
Thursday, 16 Jul 2009
Posted By:Carmen Wong Ulrich
Debit cards and me, definitely not BFF’s. So the story of the quadrillion-dollar pack of cig’s has me a tad smug, as much as continually amazed at just how crazy debit cards can be. Read More
Topics:Personal Finance | Credit Cards
Jul.13
3:57 PM ET
Monday, 13 Jul 2009
My minimum payment on my one card went from $250 a month to $350 a month and is pushing the limits of my budget which is already in the negative or barely positive. Read More
Topics:Credit Cards | Personal Finance
Jul.07
9:31 AM ET
Tuesday, 7 Jul 2009
On June 30th Bloomberg ran an article called "FICO Scores Show Flaws as U.S. Banks Cut Credit Lines." The article sufficiently bashes the credit score giant and their core product by pointing out that consumer credit scores are lowered when credit card issuers lower credit limits. Read More
Topics:Credit Cards | Personal Finance
Jul.01
5:59 PM ET
Wednesday, 1 Jul 2009
I'm trying to raise my credit score to purchase my first home. My credit score is 635. I was late a few times on a couple of loans. I've since paid them off. When I purchase my score the formula uses those old accounts that I've paid off to formulate my score. Is that fair or correct? Read More
Topics:Debt | Credit | Credit Cards | Personal Finance
Jun.30
4:10 PM ET
Tuesday, 30 Jun 2009
Posted By:Carmen Wong Ulrich
My favorite Dollar Dilemma regarding credit scores went something like this: “I make over six-figures, my credit should be awesome!” The more we need credit scores, the more misinformation still seems to fester. Read More
Topics:Credit Cards | Debt | Personal Finance | Credit
Jun.26
3:28 PM ET
Friday, 26 Jun 2009
Q. I receive 6-10 calls per day from the debt relieve people asking me to contact them so they could either wipe out my credit card debt completely or a least reduce it by more than half. Read More
Topics:Credit Cards | Personal Finance
On The Money Latest Credit, Debt & Bills Posts
On The Money Latest Posts
About CNBC | Site Map | Privacy Policy | Terms of Service | Video Reprints | Advertise | Help | Contact
Partners: AOL Money | BloggingStocks.com
Partners: AOL Money | BloggingStocks.com
Data is a real-time snapshot *Data is delayed at least 15 minutesGlobal Business and Financial News, Stock Quotes, and Market Data and Analysis
© 2009 CNBC, Inc. All Rights Reserved.
A Division of NBC Universal
