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3268: 7 Things to Know About Credit Card Default by Philip Taylor of PT Money on Credit Score Recovery

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Manage episode 503686927 series 2394769
Content provided by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 3268:

Philip Taylor explains what happens when you default on a credit card, from late fees and mounting interest to aggressive collections and damage to your credit score. He also highlights the elimination of universal default, the importance of knowing your rights when dealing with collectors, and practical steps to recover financially after a default.

Read along with the original article(s) here: https://ptmoney.com/credit-card-default/

Quotes to ponder:

"Credit card default happens when you borrow money on your credit card and never pay it off."

"Once your account goes into default your credit score is going to take a dramatic hit."

"You simply have to prioritize. Four things come first: food/water, shelter, clothing, and transportation."

Episode references:

The Pew Charitable Trusts - Consumer Finance Research: https://www.pewtrusts.org/en/projects/consumer-finance

Dave Ramsey: https://www.ramseysolutions.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

4073 episodes

Artwork
iconShare
 
Manage episode 503686927 series 2394769
Content provided by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 3268:

Philip Taylor explains what happens when you default on a credit card, from late fees and mounting interest to aggressive collections and damage to your credit score. He also highlights the elimination of universal default, the importance of knowing your rights when dealing with collectors, and practical steps to recover financially after a default.

Read along with the original article(s) here: https://ptmoney.com/credit-card-default/

Quotes to ponder:

"Credit card default happens when you borrow money on your credit card and never pay it off."

"Once your account goes into default your credit score is going to take a dramatic hit."

"You simply have to prioritize. Four things come first: food/water, shelter, clothing, and transportation."

Episode references:

The Pew Charitable Trusts - Consumer Finance Research: https://www.pewtrusts.org/en/projects/consumer-finance

Dave Ramsey: https://www.ramseysolutions.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

4073 episodes

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