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My wife and I have agreed that we need to get our debt paid off as soon as possible. We made it, we need to take care of it. Why are the credit companies not willing to help you until you've reached a point where you're behind? Are there creditors that will work with you instead of forcing you to go delinquent in order to get any help?

Thanks in advance...

Well, my first answer would be that the credit card companies are in the business of making money off of our debts. And if you get behind, then they don't get their money. This is of course, just my honest opinion. But, I think this is a very BASIC answer of why they only help when you are behind.

Sub: #1 posted on Wed, 07/30/2008 - 23:16

Lorri Lorri
(Posts: 1721 | Credits: )

I feel the same way. It's silly that they force us to default before offering any help. But I guess like Lorri said that it all comes down to money. So I guess I will default and see what happens next.

Sub: #2 posted on Thu, 07/31/2008 - 04:51


Sorry, I forgot to sign my original post. I guess with the way the economy is going, the credit card companies need to make some changes.

Lorri, you're absolutely right, but I would think that if a consuimer is trying to be proactive, then companies should have a program set in place to give some sort of relief.

I'm going to start making calls today to see what I can do on my own. I may or may not get anywhere, but my other thought is, if they're willing to work with businesses in debt management that would be my representative, why not work with me directly?

I'll let you know how it works out.


Sub: #3 posted on Thu, 07/31/2008 - 06:30


The Fed is looking at making changes to the way Credit Card companies operate. Consumers have until 8/04 to weigh in:

Sub: #4 posted on Thu, 07/31/2008 - 06:38

Moderators Cum Industry Expert
(Posts: 4671 | Credits: )

You do have a point flameridge. I am a big believer in the idea of "you'll never know until you ask", because all that can happen is someone will say "no", right? Go for it and be sure to let us in on the result.

Sub: #5 posted on Sun, 08/03/2008 - 18:56

Lorri Lorri
(Posts: 1721 | Credits: )

flameridge, keep us posted. I started working on my own last week and haven't gotten very far. But I'm going to keep trying!!

Sub: #6 posted on Sun, 08/03/2008 - 19:01


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