May
I have 4 credit cards totaling $8,000, with the highest being $4500. I have the ability to no longer afford to make payments b/c of the house,automobile, utilities, and food and diapers. I’ve called them and they’re unwilling to work with me b/c I do not qualify for hardship. I’m a stay at home mother and the cards are in my name. I don't know what to do and I'm afraid of what might happen in a few months w/o payment. I know my credit is going in the pooper, but what else do you think can happen? Will they write them off? Please don't be mean. I need real advice.
Answer:
I’ve 2 cards and couldn't afford both. I'm a single mother and just couldn't swing it. I just quit paying the one with the highest interest and kept the ideal one. After listening to the phone ring for 4 months, they wrote it off. It REALLY hurt my credit, but the other card is paid up and helping to build it. They aren't going to take anything.
I also used sites like these to make a little extra and sent it ALL to my card. If you want more links like this, feel free to email me at home_teachin@yahoo.com
Shannon
http://www.dailycashrewardz.com/members/…
Answer:
Its going to make your credit bad for a long time. Its highly unlikely that they have the ability to take anything, they definetly can't take anything that has a current lien. You are eventually going to have to pay atleast a settlement (they will offer it to you after a while) Its very difficult to survive with bad credit! I would atleast try to continue making payments on one of them.
If you’re a stay at home mother you should really look into some type of on the web income. Here is another link you can try. Goodluck!
Answer:
im sorry. they’re probably going to take everything you have. get loans. but make sure the payments are good on the loans. you dont wanna be in anymore debt that you already are. i dont know if taking out loans are the best thing to do thou because that will just make your debt get worse. i honestly dontt know what to do. good luck. and ask your friends/family for help.
Answer:
ok been ther done that,had an ex-wife that loved credit cards. first,DO NOT USE THEM AGAIN!!!!!!!!!Thats the hard part.Best off to call the credit co and get the final ballance to date and then cancell usage of the cards. Don’t get sucked into one of the many offers of a free balace transfer. great free transfer then you use the card and it's 25% or more for and usage. Best off, pick the smallest ballance,card. Make the min payments on the others,while paying as much as pos on the card chosen. pretty soon it's paid off.CANCEL IT! then stat on the next. You'll be surprised how swift you can do it. Then the $$ you spent on CC each month is in your wallet. Then you just gotta think about what you spend. Do I need it, or just want it??????????????????????????
Answer:
You need to halt living beyond your means. Make a strict budget. Get rid of all the extras — cell phone, new clothes, eating out, premium cable and internet, etc.
Find ways to bring in cash. Have a garage sale, collect alum cans, get a part time job.
I don't know what your source of income is but your first priority should be to pay the rent/mortgage, basic utilities (water, electric, gas), and food — in that order. If you’ve to let the unsecured credit cards go unpaid, let them go. However, it would be a good idea if you could actually work on paying them off.
If you don't pay the monthly credit card minimum payments, the accounts will probably be turned to collections after 90 days. You wil be hounded for payment and all of this will absolutely trash your credit.
More frequently credit card companies and collection agencies are going to court to collect. It really depends on the balances and which company.
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