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Date: Mon, 04/02/2007 - 05:15

Submitted by anonymous
on Mon, 04/02/2007 - 05:15

Posts: 202330 Credits: [Donate]

Total Replies: 2


A few years ago I was offered a credit card with a great rate and accepted against my better judgement. After having the card for a year, my husband became disabled, I started using the card to take cash advance, and had been late a couple times, wel I got hit with late payment fees and over the limit fees for over hundreds of dollars, now when I try to make payments, the interest takes it over the limit and I am hit with another over the limit fee, they also keep raising my interest rate, it is now at 41% that is why I am seeking help in clearing up this debt. It has become very hard to keep up with this because of our present limited income.


First off,welcome to our board. Some creditors will allow you to enter a repayment plan inhouse. You would need to call them and ask for their retention/loss migration dept as most of the phone drones don't have the info or authority to do this. If they are agreeable,you would want them to waive the fees and reduce the interest on account to a reasonable level.Remember always get this in writing to protect your interests. If they are unwilling,then it would be advisble to look into debt settlement or consolidation plans.


lrhall41

Submitted by cajunbulldog on Mon, 04/02/2007 - 05:29

( Posts: 4850 | Credits: )


You are paying too much in interests only. I guess, you may consider some professional help and bring down the interest rates with your credit card companies. The counselor will analyze how much you can pay towards the debts and frame a lower plan. Consolidation will be a good choice. You will be required to pay the principal amount and the interests will be stopped from rising further as long as you are in the plan. Or, if you have a huge amount of debt, settling the accounts will work better. Speak with a counselor for your options.


lrhall41

Submitted by orake on Mon, 04/02/2007 - 10:23

( Posts: 482 | Credits: )