Bad times ahead
Date: Thu, 12/03/2009 - 20:11
I called Chase with whom I have 2 accounts but they couldn't do anything since I was making the payments eventhough I told them this would not last long. So instead of working with me as I want to pay the debt I owe, the would rather I not make payments. The other cards I have are a Macy's Visa and American Express.
My best hope now is debt settlement in the future, but there's no way I can get the amount of money needed to settle all four at the same time or before they reach charge off stage. Anyone know a company that would do a secured loan on auto that I own?
Go back to all of your creditors and try again until you get som
Go back to all of your creditors and try again until you get someone to listen to you. Ask for the hardship department, or another thing I found out by accident, is to find out the number for the collections department of whatever company you have accounts with. They won't be able to help you if you aren't late, but they will connect you to whatever department they have for hardships. Trust me on this. Every single credit card company will work with you if you get to the right people. Do not take no for an answer. Keep calling, and state calmly and clearly that you want to continue to make your payments, you are not trying to get out of your obligations, you just need to change the terms of the payments. Good luck!
Stop beating yourself up. These bloodsuckers will only help if y
Stop beating yourself up. These bloodsuckers will only help if you stop paying. You will get offers right away to lower interest and reduced payments, it's a miracle. I made the same mistake, I paid and paid and borrowed to pay and exhausted all my funds to pay the minimum on these credit cards until I could not pay anymore.
You get to a certain point where living is more important than credit score. If you are really worried about your credit, just stop paying for a month or two, you will get great offers. If you don't mind the credit hit, continue not paying and settle these accounts down the road yourself. You do not need a settlement company. They will come to you with settlement offers. All the info is on here to DIY. Don't mess with your 401k.