Seeking help in becoming debt free!
Date: Sun, 04/26/2009 - 20:00
Hi Everyone,
I have one credit card account thru Bank of America. I beleive the account is closed. The balance is roughly $7,600 on a 7000 credit limit. I have been paying $350 a month for at least a year but seem to be getting nowhere and want a change. Looking at the statements interest rate is 28% and they charge late fees of $39 every month. $350 a month is getting a little out of my range with the toughened times and I missed last months payment. What would you recommend to do? Should I try and get the amount reduced? Or try and just get the interest reduced and late fees removed? What would be the best and most attainable plan of action?
Thanks for any advice you can give!
I have one credit card account thru Bank of America. I beleive the account is closed. The balance is roughly $7,600 on a 7000 credit limit. I have been paying $350 a month for at least a year but seem to be getting nowhere and want a change. Looking at the statements interest rate is 28% and they charge late fees of $39 every month. $350 a month is getting a little out of my range with the toughened times and I missed last months payment. What would you recommend to do? Should I try and get the amount reduced? Or try and just get the interest reduced and late fees removed? What would be the best and most attainable plan of action?
Thanks for any advice you can give!
You should first try for a hardship program, most (if not all) o
You should first try for a hardship program, most (if not all) of the credit card companies have such a program. It's also called Debt Management - click here for help on the process.
