what is zero percent financing?

Ollie Hamiel: I have a credit card that was from 2004 and it was sold to this company. My orginal balance was 300 and then chase charged me late fees and it went to 1200 and then they sold it. Now this company is trying to get 2150 from me. They bought it last year from Chase bank. I called them and offered 800.00 and they refused. Counter offer of 1000 and I ask for a pay to delete and they said they can't do that. I need some help on what to do at this point? It has been 5 years since debt was in default but in TN statue if limitations is 6 years. What it be better for me to wait it out and see what happens in court or give them the 1000? Will the judge take any money from balance or charge full plus court fees? I don't want my wages garnished but feel this deal is not that good. I'm thinking of waiting it out and if the send me court summons then maybe I will try to settle for the 1000 before court?...Show more

Asa Soho: This Site Might Help You.RE:what is zero p! ercent financing?I,m not a expert on interest rates but i,m in the market for a vehicle and i keep hearing zero percent financing at dealerships. is it a good thing will it end up screwing you over in the long run....Show more

Hilton Paiva: Paying off charged-off credit card debt won't help your credit rating....The charge-off stays for the entire 7 years...even if the debt is settled or paid in full at a later date. Pay for Deletes will not work for charged-off credit card debt....Chase will continue to report the charge-off and the collection agency can't remove this. Strangely enough, paying off this old debt may end up damaging your credit rating as you're refreshing an old negative event and bringing it to the front of the line on your credit report. The potential good news is that they might not have the original signed application for the debt, which they would need to sue you. Maybe they would agree to the $1,000 without a Pay for Delete...which can't be done! anyway.--------------------Tips for Dealing with Debt Collect! ors ================================ - Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. This letter should state the settlement amount and that the account will be paid in full upon receipt of this amount from you. Keep the letter in a safe place. Never accept settlement deals over the phone that are not backed up in written terms. If you don’t, the debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money from you.- By themselves, debt collectors have absolutely no legal power over you., they cannot garnish your wages or freeze checking accounts...only a court can authorize this and they’d have to go through the court system to do this.- The debt collectors #1 goal is to scare/bully you into giving them your checking account/bank routing numbers to do direct debits from your bank account. DO NOT give them this info. Th! is is like giving the keys to your front door to a burglar. Once they have your checking account #’s they can attempt to withdraw any amount from your checking account at any time. - If they threaten you with a lawsuit/legal action, then ask for their attorney’s full name and license number in the state bar association. Call your state bar association to confirm this info. If they refuse to give this info to you, then the legal threat is probably a bluff. - Debt collectors love to create a false sense of urgency...If they’ve waited months/years for your payment, they can wait one or two weeks for any payment or settlement agreement from you. Any “deadline” like 5PM to get any payment to them is bogus....Show more

Dallas Bartolini: credit/attorney place is trying to collect on a old credit problem that was a credit card in my buisness name and my shop was not doing that great money wise, so i closed and quit the buisness, in 2003 can they still collect? ! what should i do? and they sent a certified note asking information on ! garnishment on my ss# .. so what should i do? anybody knows Please let me know THANKS

Anibal Scheid: Zero Financing

Giovanna Cramblit: What Is Zero Percent Financing

Ruby Martis: Sorry F if u owned business and closed itall outstanding debts are yours.check your states credit laws , u may be past terms of collections, statue of limitations.AS for SS# NEVER EVER give it to anyone.especially a debt collector.No the y can not garnish SS payments.check gov. Fair Credit Act.visit dave ramsey.com to learn from others hard/costly life lessons b4 u pay....Show more

Giovanna Cramblit: 0 percent financing means you just pay back what you borrow and it is a great thing that means the loan costs you nothing

Chanda Wittwer: 0% financing for 12 months (for instance) is when you dont have to pay interest on a car or ?. Like $250.00 a month payment and 5% interest a year 250.00 month times 12 months is $3000.00 year and interest 5% interest $150.00 a year ! financing or interest charge.

Hunter Osterberger: They have sold your account to them to try to collect payment that you owe. They will harass you until you do, or you can make arrangements. I honestly don't think they can harass you legally, but I would not be giving my social security number to anyone, make arrangements to pay them back.Honestly, if you owed money, you should pay them back. I would try to go directly to the credit card company instead of the attorney, but usually once they turn it over, they won't bargain with you.If you lent money to someone and they could not pay it back, would you try to get them to pay you back?...Show more

Delmer Pectol: Were you taken to court on this debt to where a judgement was assessed? If not, then this letter you received is a scare tactic. Debt collectors have zero legal power over you by themselves. If no payments have been made on this account since 2003, then debt is past the statute of limitations and they ! are powerless over you. Send them a cease communication letter and be d! one with them. Here's how: http://www.budhibbs.com/cease_comm.htm- Paying this debt back would do nothing for your credit rating and if you start making offers to settle, they'll try to shake you down for all they can get.Don't let anyone try to guilt trip you on this issue. These collection agencies are very aggressive...nothing good can come from paying them....Show more

Ivan Velazquez: If you can trust yourself to pay it off every month, it's not a bad idea. Most credit card companies (even those geared toward people with poor credit) have a grace period to pay off purchases without accruing interest. If you can't trust yourself to pay it off in full each month, don't do it. You'll just get yourself in more trouble.

Barrett Alosa: My credit is shot. THE WORST part about it is my car insurance is astronomical for my age. I have BARE MINIMUM state legal coverage, and at age 36 I pay $101.00 a month. Most people my age pay like $50 for the same coverage. I shopp! ed around.. it is the best rate I can get . I have no accidents or tickets, but they say it's because of my credit. (don't reccomend any insurance companies, friends give me names and numbers all the time for cheap rates, and they are always shocked at how high my quotes are . IT'S MY CREDIT RATING, trust me). Ok sorry...question: is is it wise to get a credit card just to use and pay off every month just to build up credit? I can only get a high interest rate one, so I want to know if that will just end up getting me in more trouble or is it a wise way to get my credit back to good ?...Show more

Dwight Siniard: Zero% financing does not exist, it never did. It's a marketing scam to make you THINK you're getting zero%. What they did was add the interest to the cost of the vehicle. If you are offered a car with zero% interest, but you arrange your own financing, be sure that they take off the added interest before you finalize the deal. Otherwise you could be paying th! eir 8% interest that they've added to the price of the car plus your 8%! interest from your own financing. A $25,000 car at 8% for 5 years will cost you about $5,000 in interest. Guess who pockets the additional interest on the car! Ain't you! Loan companies cannot make money on 0% loans without adding a huge fee to cover their overhead and profit. It's like buying a $100,000 home. You can pay $100,000 for the home at 6% interest or you can pay $205,000 for the home at 0% interest....Show more

Maye Delk: For the best answers, search on this site https://shorturl.im/awVroIt means that for every $1,000 you borrow your payment will increase by $27.78 per month. So if you finance $10,000 your payment will be 10 times $27.78 or $277.80 per month. $20,000 will be 20 times $27.78 or $555.60 per month. If you take $1,000 and divide it by 36 months, you get $27.78. You are truly paying no interest. If you were paying any interest, it would be more than $27.78....Show more

Charline Granes: It means that you only pay the price of whatever you ! are buying without any intrest attached to it. If you buy something that cost 10k you only pay 10k. Of course, if you add extras, like insurance or somethimh else that would be added to the 10k.

Florencia Manolakis: This is what is called a Zombie Debt. Do not pay it. After 7 years they have no right to collect the debt or let it affect your credit report. This is per the FCRA. Ask them to verify the debt (they won't be able to) do not give them ANY information (as this can be used by them as an admittance of the debt). Call your original credit card company. If they do not have full records of you, and the default still shows on your report, dispute it with the credit bureaus. After 30 days the dispute will show that it is removed since it's been 7-10 years. If the collector calls, state they have no case for collecting the debt per the FCRA and that any further attempts on their part will be documented and viewed as harassment.Use the following websites to ! help better understand your credit....Show more

Debora Rinderer: ! Wow, Thanks! I was wondering the same question today

Porfirio Cahall: In most cases, the "no interest financing' is offered in lieu of a substantial cash rebate at the time of purchase. Read the proffered agreement very carefully. While I do not have experience with such arrangements, I have heard horror stories about your 'zero interest' disappearing if you are so much as late on ONE payment. Check ALL the fine print before you sign.

Esteban Lyson: check out creditkarma.com they let you analyze your credit score, breakdown your rating, and simulate what conditions would raise or lower your credit score. signing up is a soft inquiry, not a hard inquiry - and will not hurt your credit score. I use it all the time to look at ways to increase credit score... lets you know if raising credit limit, opening another line, etc... really will help

Bob Pucella: 0% financing means you do not have to pay any interest on the principal of the loan amount. Meaning, y! ou are borrowing the money for free. Many reputable car dealers will offer 0% financing to top tiered clients who have excellent credit score and history. Some dealerships will require you to put down a large downpayment to qualify for 0%. Some will only offer 0% financing to vehicles they have hard time selling. Please do you research on-line to find out more about the car you want to buy and approach the dealership with caution. Ask a lot of questions, and if your gut feeling tells you something is not right, just walk away from the dealership. There are plenty of dealers out there who can help you get a 0% financing....Show more

Burt Stoecklin: It's a beautiful thing.

Jackelyn Archut: The only way to improve you credit is with consistent, on time payment history. If you don't have open, active accounts, you need to get a credit card, even if you have to go with a secured card. You need at least 2 years of good payment history to improve your credit/! score.You don't need a large limit or need to make big purchases. You! can use the card to buy a tank of gas every month and then pay the statement balance in full every month. This will build your credit and avoid interest.As the negatives get older, they will count less in your FICO score and eventually age off. Most of your score is based on the previous 2 years of your credit history.

Ester Bryand: It makes no sense to get a credit card when you have tons of collection agencies that you owe money to on your credit reports,,,,,,,,,, You are not aware that they will sue you eventually?They go after your wages and assets,,,,, please know that.I would stay awake at night if I did not have savings,,, and you don't have enough. 5 months of income in case you lose a job, etc.Did you know that you get a discount when you pay every 6 months vs. monthly?Savings comes in handy,,, ya know???