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Uploaded by HLN on May 20, 2010
Lula wants to know how to pay off her debt and protect her credit. HLN Money Expert Clark Howard helps her out.
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@cagedtigersteve No, he's just saying it's better for your credit if you make your payments each month until the debt is paid off rather than paying a reduced lump sum to where it will affect your credit rating negatively and you may have to pay taxes on the amount the creditor let you off on.
TheUSMetalhead 1 year ago
Really? So I should only pay the minimum payment amount due on my credit cards and not pay it off in full each month. Thanks.
cagedtigersteve 1 year ago