Should I stop my cc payments?

Date: Mon, 12/14/2009 - 14:32

Submitted by anonymous
on Mon, 12/14/2009 - 14:32

Posts: 202330 Credits: [Donate]

Total Replies: 3

We have about $35,000 in debt. Almost all our bills are late but we keep managing to pay them about 30 days out. But our cc's we are current on. I have hardship programs on 2 of 5 of them. The problem, I realized I am current on them but behind on my mortgage and that just isn't right! We are 1 1/2 months behind on our first mortgage and 2 1/2 months behind on our 2nd. I kept paying the cc on time so they wouldn't raise the rate even more etc but this doesn't seem to make sense anymore. We are trying to bring in more income but at this point should I stop the cc payments in order to pay our other bills?

I'd have prioritize the mortgage payment since one may end up lo

I'd have prioritize the mortgage payment since one may end up losing the home if he defaults on it. Also you may try negotiating comfortable payment plans with the credit card lenders to lower the payment.

lrhall41

Submitted by SC on Mon, 12/14/2009 - 20:00

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House, food, utilities, car then credit cards. I tried to get th

House, food, utilities, car then credit cards. I tried to get the banks to lower interest on credit cards and they would not do anything. I stopped paying and they started calling and offering 0% interest and low payments, it was amazing. I wish I would have known about that years ago.

lrhall41

Submitted by on Tue, 12/15/2009 - 02:41

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Tanner12. I was in the same boat 6 months ago. I realized a ho

Tanner12. I was in the same boat 6 months ago. I realized a home for my family was more important than credit card debt. I stopped paying and am now starting to settle with some. Yes, the interest rate will be jacked up but if you settle you will pay less and save your home.

lrhall41

Submitted by OZZIE69 on Tue, 12/15/2009 - 07:06

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