Question about credit cards & consolidation
Date: Thu, 08/02/2007 - 19:47
I see a lot of people on here recommend calling your credit card company & asking them for help-either by cutting interest rates or working out a payment plan.
My question...I have 2 credit cards I have debt on & I'm behind by one payment. I've been sending in what I can to them, but I'm still not current. Would the credit card companies be willing to work out payment plans or cut rates if you've been sending in money....just not what the minimum is? Or should I not even bother with them & just go with consolidation.
I'd explain my situation to the credit card companies, but I'm afraid they wouldn't listen or after they hear my reasoning they would turn me away. My reason is that I was just being stupid, forgot to pay bills, lived beyond my means. I have a job, but after rent, insurance, car & school loans, I don't have enough for the credit cards & I need help.
Also if you tell the creditors that you cant make the payments & are falling behind and ask them for help & they deny helping you, what will they do next?? My interest rates are already high.
My question...I have 2 credit cards I have debt on & I'm behind by one payment. I've been sending in what I can to them, but I'm still not current. Would the credit card companies be willing to work out payment plans or cut rates if you've been sending in money....just not what the minimum is? Or should I not even bother with them & just go with consolidation.
I'd explain my situation to the credit card companies, but I'm afraid they wouldn't listen or after they hear my reasoning they would turn me away. My reason is that I was just being stupid, forgot to pay bills, lived beyond my means. I have a job, but after rent, insurance, car & school loans, I don't have enough for the credit cards & I need help.
Also if you tell the creditors that you cant make the payments & are falling behind and ask them for help & they deny helping you, what will they do next?? My interest rates are already high.
You have to call the creditors and know what's in their mind. Th
You have to call the creditors and know what's in their mind. They want to get their money back. Explain your situation and propose a payment plan. Some companies are easier to work with while few are pretty tough. You just have to make your first move and understand the situation. If they don't sound co-operative, you may seek some professional help. A debt counselor will arrange a suitable plan with your creditors. Don't give them any chance to take legal actions against you.
Do you know the last payment date on the account? You need to check the SOL status in case you haven't done a payment for a long time.
