CC raising minimum payments
Date: Wed, 06/24/2009 - 04:07
Got the first, likely of many, bad suprises in the mail yesterday. Chase is raising our min payment to .05% instead of .02% as it has been. Thus my min monthly payment on only one of my cards is raising from $130 per month to $325 per month. Now- we are very tight to begin with - if all of the CC companies do this - we will be bankrupt in no time.
What should we do? Credit counseling? Are there real, non-scam credit counselors out there?
I have 4 kids to feed, a mortgage to pay and taxes to keep on top of. Right now - I'm feeling very scared.
We owe somewhere around $35,000 in CC debt alone.
If you cannot keep up with your payments, you can settle your cr
If you cannot keep up with your payments, you can settle your credit card debts for less, but it will adversely affect your credit score. Moreover, the creditors normally agree to settle accounts for less only if you are delinquent. Now, since you are current with your payments, they may not agree to debt settlement. How much is your total credit card debt?
If you want, you can also go for free debt counseling from our community experts.
The OP noted that they have around $35,000 in CC debt alone.
The OP noted that they have around $35,000 in CC debt alone.
Singin...focus on your mortgage, taxes, etc. - the basic living expenses...then I would call the CC and explain that by them raising the monthly payment amount almost guarantees that you will be unable to pay it, thereby, defaulting. Ask them if they will reconsider. If not, ask them what programs they offer to assist you in paying off your debt with them.
That's a good place to start...as to a good credit couseling company, start with CCCS (Consumer Credit Counseling Service). It is usually free and they are pretty decent.
( Posts: 1129 | Credits: )
bank of america
The same thing happened to me with BOA. They will not listen to me, and I can't even get passed the customer service reps; I can't believe they have the nerve to raise my interest with onw hand while they hold out the other one for a government handout.
BANK OF AMERICA IS EVIL....JUST RAISED MY INTEREST RATE ON MY CR
BANK OF AMERICA IS EVIL....JUST RAISED MY INTEREST RATE ON MY CREDIT CARD TO 24.99% FROM 11.%. So all the hardship going on in this world and how do they think they are going to get paid when we all default because we can't make ends meet. I REALLY DESPISE BOFA - Hope to get rid of them SOON.
It's not just BofA. The Federal Reserve Bank is privately owned
It's not just BofA. The Federal Reserve Bank is privately owned (not too many people know that) by JP Morgan, Goldman and the rest and is that lot that have been bailed out. Our elected representatives (best Congress money can buy) support this and leave the voters high and dry
CALL YOUR US REP!!
Call your US Rep and tell them WHAT?? That we're tired of gette
Call your US Rep and tell them WHAT?? That we're tired of getted screwed??
( Posts: 1129 | Credits: )
Yep, that's about it. Complain and complain, ,make them feel the
Yep, that's about it. Complain and complain, ,make them feel the heat. They're bailing out the banks and leaving us to rot.