NRG Closes $3.9 Billion Refinancing of 1st Lien Facilities, Simplifies Capital ... MarketWatch (press release)
Has concluded the refinancing of $3.9 billion of its first lien facilities. The first lien structure now includes a $2.3 billion revolving credit facility maturing in 2016 and $1.6 billion Term Loan B facility maturing in 2018.NRG's new revolving credit facility will be used to provide for NRG's letter of credit (LC) requirements and also serves as a source of additional cash liquidity. The new Term Loan B facility refinances two existing term loan tranches with a single facility maturing in 2018.
"With this refinancing, NRG has significantly extended its maturity profile, with all recourse debt now maturing after 2016," said Christian Schade, NRG's Chief Financial Officer. "Through this process we have also better aligned a more simplified covenant structure across our first lien and more recently issued senior note indentures. Our expectation is for these structures to allow for more flexibility to provide greater return of capital to all stakeholders."
Credit Card Debt Information : Where to Apply for Your First Credit Card
Apply for your first credit card by visiting a local bank and asking for a secured credit card. After paying a secured credit card on time for a ...
what would you pay off 1st credit card debt or medical debt ?
i have about $ 1000 in credit card debt
i have about $4000 in medical debt
** i dont have health insurenace
** i got a $1000 from my car insurence but thats it i'm not going to get anymore
*** should i take the 1000 cut it in half and pay half my CC and the rest goes to the the hosptail or should i take the whole $1000 and pay my CC
credit card ... the medical people will wait -- they're used to it.
***
keep the credit card paid off -- you can not afford to be paying interest on your monthly purchases.
***
as mentioned many times in these forums, unless you have insurance and are talking about the co-pays on your medical, the medical bills are hugely inflated from what the providers usually get from insurance companies.
thus, after you've paid off your cards, you call the medical people and tell them that you can not afford to pay the gross amounts of your bills and that, in order to make any significant progress on them you need:
1. the bills to be reduced to what they would be if Blue Cross [or some other large insurance company] was paying under their PPO plans.
2. to make monthly payments over an extended period.
in exchange, you'll cut your spending on other things in order to free up cash flow to make the payments, and you'll turn over your income tax refund as well after it is received. [not that you know how much that will be yet ....]
the alternative is you'll have to go into credit counseling to manage the bills and/or bankruptcy -- in which case they'll likely end up getting even less than this.
GL
If you were to pay the medical first you would essentially be giving the CC company free money.
Including credit card debt as part of mortgage loan - 1st time buyer?
We are looking into purchasing a condo for our 1st owned housing. My wife and I make about 125,000 a year combined income and have good credit ratings with steady jobs (more than 5 years in the same company). The problem is that our cc debt accumulated through our early years is in the 50k, so paying for cc monthly payment + mortgage is not possible. Is it possible to fold our cc debt into a mortgage loan so we can at least afford to buy a condo/house? thank you.
On a purchase, I doubt it. Are you gonna have much to make a down payment??? If you do, then you may be able to get a home equity line of credit, pay off your credit cards with that. Your rate on the euity line will be around 8% and at least you can write off the interest where you can't with credit cards.
There are a lot of specialty loans out there now, so you may have options. Remember it's not a good thing to have your mortgage be higher than the value of your home. That can and will create a whole new set of worse problems.
Talk to a loan officer at your bank. They know you and may suggest a program...
Marty
What's going to happen if you stop(or refuse) to pay your credit card debt of 6 grants???
Let's say you got 2 credit cards, on your 1st one you owe $1,000
nd on 2nd one you owe $5,000 and you refuse to pay your credit card debts off, what's going to happen then???
After 6 months it is sent to a collections agency and they begin the harassing phone calls (if they haven't started already.) They will eventually pursue legal action against you in the civil courts to collect. If you do not pay and do not charge anything on your credit card for a minimum of 6 to 7 months you can negotiate a settlement for less.
Don't tell them you will pay them, and they will have to stop fter a year.
They could sue for it but chances are they will just right it off.
Your credit will go down the toilet but if you are not looking to by a house or car or anything you will be ok.
It is unsecured credit so they can't take anything you own.
Is settling a credit card debt good? what are the consequences?
CC company have offered to reduce the tot. amt. by 1/3 and settle or pay the total amount with very low interest rate. Which is better. According to them 2nd option is better( b/c of credit rating ). But 1st option look good to me.
So either i can pay .33 cents for each dollar owed and settle or pay $1 plus 2% interest per dollar owed and pay in full.
1st option will show "settled" for 7-10 years, while with 2nd option my credit rating will not be effected.
Settle it. The debt is satisfied, and you can use the rest of the money for something else.
However, debt settlement is not without its drawbacks. There are two things to worry about. First, is the cost of debt settlement. Debt settlement companies will charge huge amounts for their services. The usual range is between 10-15% of the debt amount. Paying this much amount upfront can turn your financial situation from bad to worse. Read more from: http://www.credit-card-gallery.com/credit_card_debt_settlement.html
If you do take the first option, be sure you get the offer from the company IN WRITING, and never ever throw that away. This way, if they or anyone else tries to collect on the debt, you can show them this as proof that the debt was settled. Do not pay them anything until you receive that piece of paper.
Also, do not allow them electronic access to your account. They can take out more than was promised and you won't know about it until it's too late. You can complain to them about it, but getting the money back from them when you owe them money will be very difficult. Your best option is to pay them with a cashiers check or a money order.
Is this a lot of credit card debt for me to have? I'm trying but self-conscious of it?
I'm 25 yrs old, college graduate, I make approx. $45K gross income between 2 jobs(full-time job and part-time waitressing gig). I always pay my bills on time and I try to keep my Fico score up, but I'm self-conscious of some credit card debt I have.
I owe a total of about $7,000 between two Visa cards(I also have store cards, but they're paid off). It was originally $10,000 a few months ago. The one card has a balance of $3300 and a $11,000 limit. The other card has a balance of $3800 and a $4300 limit. I pay bigger payments on the 1st card because the interest rate is literally 4X higher than the other one. I pay $1300/mo towards these debts & I want to be debt free by next summer.
This debt was racked up during a long period that I was drastically unemployed and not making enough money to cover costs of living(I'm not allowed to live at home). I've never been late w/ the payments though.
Do I owe more debt than the average person? :( Am I in "financial distress"?
I would say you are paying alot towards your debt and that if you keep up the pace you may actually be able to pay off by next summer. I do have some advice though since you have been paying these without any problems for so long you may want to talk to the card company and ask them to lower your interest rate. Also if the other card has a lower rate why not use it to pay off the first one.. Also there are cards out there that give you 0% financing for the first year if you transfer the debt. You may want to look into them if you are planning on paying off the debt anyway. This would give you extra time with no interest and the amount you are paying would increase tyhe chances of being debt free. yes it is a lot of debt but many americans are alot more in debt than you are.. Good luck.
Here are a couple of links that will give you more information.
http://www.creditcards.com/low-interest.php?a_aid=1004&a_cid=1002&a_did=31600&CMP=KNC-GooglePaid
http://www.creditcardguide.com/balance-transfer.html?gclid=CJnfuZHhhI8CFQ8bgQodEDkBvw
Great Job.
A couple of options to consider.
Go Credit Card Hunting on the Web and find a better credit card rate. Often if you don't need all the fancy paybacks or airline points and such you can get much much lower rates.
Then pay off the old High interest card with the new card AND CUT THAT SUCKER UP.
If you are feeling in worse shape than that then you can call the card companies and work out some form of a payment plan on the cards at a lower interest rate. But be ready to have to live without the cards then... but this way they get there money without loosing all of it to a bankrupcy. They may lower your interest rate Talk to a credit councelor about this...
If it's not that bad then just call them and tell them that you are thinking about paying off your account and closing it to go to a lower interest card but that you wanted to see if they could do anything to help you stay with them before you make the change. Most card companies will jump at the chance to prevent a paying customer from leaving. They make more money if you stay and don't fully pay off your card even if it is at a lower interest rate.
But in general, no your not alone. Many people owe thousands of dollars to credit card companies. But the good news is that it already sounds like you are making progress in the right direction. You may have the chance to lower your payments right now by either switching cards and transfering the ballances or just calling them to treaten to leave.
But again if your paying all your bills and you are catching up on your debt, I would not say your in financial distress and actually since you are already working to lower your debet you are on the right track.
Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)?
Consider this:
1. I have $30k in credit card debt.
2. I have a 1st mortgage for $200k (4%) and a Home Equity line of $170k (at prime rate) with no additional credit available.
3. I am buying another house at the end of April.
Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is?
I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true?
Thoughts? Opinions? Alternatives?
You don't mention how much equity you have left in the home, but lets assume you have some equity. You would not want to "max out" your equity. Save at least 5-10% since you are going to be buying another home soon. Now if you have equity left to refinance your equity loan & pay down some credit cards, by all means do so. To best improve your credit score, pay off what you can, but at least reduce each credit card so that you have some available credit if any are at or near their limits. These are important factors in credit scoring and will get you a better rate on your new home. Its best not to close the cards that you pay off. Having that available credit will help your score. Close the cards after you secure your new home loan. Good luck!
I'm self-conscious of how much credit card debt I have...Do I have too much debt?
I'm 25 yrs old, college graduate, I make approx. $45K gross income between 2 jobs(full-time job and part-time waitressing gig). I always pay my bills on time and I try to keep my Fico score up, but I'm self-conscious of some credit card debt I have.
I owe a total of about $7,000 between two Visa cards(I also have store cards, but they're paid off). It was originally $10,000 a few months ago. The one card has a balance of $3300 and a $11,000 limit. The other card has a balance of $3800 and a $4300 limit. I pay bigger payments on the 1st card because the interest rate is literally 4X higher than the other one. I've been paying $1300/mo towards these debts & I want to be debt free by next summer.
This debt was racked up during a long period that I was drastically unemployed and not making enough money to cover costs of living(I'm not allowed to live at home). I've never been late w/ the payments though.
Do I owe more debt than the average person? :( Am I in "financial distress"?
I already stated that I haven't been late w/ payments and I'm paying my cards off with $1200 CASH per month, which is waaaay more than the required minimum payments...not using 1 card to pay off the other. I haven't been late yet. You didn't really answer my question, whether it's a lot of debt or not, but the fact that you suggested "bankruptcy" when I'm consciously able to pay more than the minimum, kinda hurts my feelings and shows that you really think I have a lot of debt.
I mostly asked this question to see what the average person's perception of being "saddled with debt" means, and if I fit that :( I hate having credit card debt and I'm trying to pay my way out of it as soon as possible.
jcontrol, the 0% APR thing is a good idea. However, the reason I do not have 0% APR on my 2 cards is because I already had that promotional period when I first got the cards. In fact, my 2nd Visa card(the one I owe more money on) only has a 5% APR, because I asked them what they would be willing to do to keep my business...but the 5% APR is ending in December, and then it's going back up to 13%...but that's still a lot less than my other card's APR.
Oh and the reason I don't want to take out any new cards or loans is because I don't want the hard inquiry and it being a new account to pull down my credit score. I'm trying to avoid applying for new credit until I apply for a mortgage, which I'm probably not ready for until 2yrs from now(or do you think I could handle one now?).
Thanks for all the feedback, everyone! :)
Just for the record, yes I do have a student loan. But it is small compared to most student loans...it is less than $10K and I pay $100 per month(payments would be smaller, but I went ahead and reduced the term of the loan from 20yrs to 10yrs to pay it off quicker). It's probably one of the smallest bills I have.
You have an average amount of credit card debt. It looks as if you have a good plan to pay it off. Keep it up, you can do it!!
Can you get a 1st mortgage for more than the price of a home to be used to make repairs &/or pay debt off?
Say the purchase price is 140k can you finance 160k and take the $$ left over to make home repairs and pay credit card debts off?
Only if the house is worth more than $160k but yes, you can use the extra money for whatever you want...I recommend paying off the car or getting a newer one.
How Long To Pay Off $614.90 in Credit Debt?
How much would I need to pay to have it paid off by June 1st. How Much Should I be paying monthly. I get paid every two weeks, but its a work study job, so it basicaly chump change. How Much would I need to start paying in march to have it knocked down by june 1st
int rate, is about 20% its a cap 1 plat card.
Dude, you should go to one of those free community credit counseling agencies they can help you renegotiate you interest rate, and cut out those late fees etc.
If a collection agency sells an account to another, can the 1st agency be removed from my credit report?
In the process of paying old collections on my credit report. On one bill I have two different collection agencies reporting. The first lists the account as date of deliquency in 3/2003 it hasn't reported since. The second gives the date as 2/2005 with last reporting in 10/2006. Both are for the same amount & original creditor. I am assuming they are for the same account & have sent (certified mail) debt validation to both. My question is that if they are for the same account and the 1st sold the account to the 2nd, then can the 1st be removed? I know the 2nd has to correct the date information so it's not "reaged". Is this double reporting?
As a mortgage broker I have seen this happen often. However if you are paying off the debt, once it is paid up (or settled) both agencies should drop off the credit bureau within a month or two. If you are not paying it off then one agency showing on your bueau or two doesn't matter. As a mortgage broker I would get around this by writing an explanation for the bank regarding the double entry. You should try to get a letter from the agency that is looking after the payable that they are the only ones looking after that debt. Once the debt is paid, you should get a letter from the agency saying you paid it off and keep it for future reference. This is a very important piece of paper to keep.
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