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Iris
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Subject: What to do if I am unable to pay CC bills?
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Tue Jun 30, 2009 4:32 am
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| I am a single mom and have been laid off from job recently. I have not paid my credit card bills for the last 3 months. Can the credit card company close my accounts or stop all transaction? It won't be very long before I get another job. Can I ask them to hold payments for a few days? I won't be able to meet the household expenses without a credit card. Can I set up a payment plan even after I get a job? Because I know it will be almost impossible to pay off the full amount at once. |
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rachael
Joined: 11 May 2009
rachael's page
Posts: 244
6581 Magic Points
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Tue Jun 30, 2009 7:00 am
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Hi Iris,
If the credit card issuer feels that your accounts are a loss for their company, they may close your accounts. You should contact the credit card company as soon as possible, and try to explain your situation to them. If you are able to talk to the manger of the company, you can request him to reduce your minimum payment. You may even follow up in writing, clearly mentioning the exact amount you can afford to pay each month.
If you have been a good customer until you were laid off from job, the company may agree to your terms. You should also mention in your letter, how soon you expect to be employed and how you plan to repay your debts. Some companies would not want to lose loyal customers, so they may allow you to continue using the credit cards.
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Looking forward to a debt-free life. |
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Moore
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Subject: hardship programs
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Wed Jul 01, 2009 5:54 am
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Hi Iris,
I have heard that many credit card companies have "hardship programs". These hardship programs help those who are unable to repay their credit card debts. They generally have reduced interest rates. Sometimes it is also possible to get the late fees and other penalty charges waived off. You can call your credit card issuer, and ask to be placed on their hardship program (if they have any). |
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internet15
Joined: 16 Apr 2009
internet15's page
Posts: 51
2439 Magic Points
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Wed Jul 01, 2009 12:47 pm
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If the people unable to pay credit card bills this means that you have nothing to be ashamed of if the bill has come due and you find that you can't afford to pay it. If this is the first time that this has happened, it is understandable that you might feel panicked.
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Free Credit Repair|Fast Payday Loans |
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yes we can
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Subject: credit card debt
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Tue Nov 10, 2009 3:37 am
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I am unable to pay the credit card bill that has increased it's percentage limit to 29.99%
I cannot pay any more. |
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yes we can
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Subject: Credit Card Debt
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Tue Nov 10, 2009 3:47 am
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I had a the best credit history anyone could have in last 25 years,
have been charging cards and paying in timely manner always, but last September 2009 was laid off from job, since than have no income, was not interested in collecting FREE money from Unemployment, so started some business by charging credit card to buy stuff's and resell it on line, but doing that for almost 10 months figured out that I am in deep SH-T and have balance on credit card for almost $35,000, and have inventory of the items bought to sell by credit card is less than $5000.00 in hand, since credit cards has raised it's interest to 29.99% without any notice to card holders, cant afford to pay monthly payment of $800.00 a month with out a regular income, since I have no Job since September 2008. So I stopped paying the credit card bill to 1 of the creditor, Now other cards are doing the same thing by raising the interest to 29.99%.
Can someone help and tell me whats going on with the banks that they are going nuts with thier customers, who are unable to pay.
Today a creditor called and asked why my payment is past 45 days late, I told them that the reason is that the rate has been increased and I do not have a job, the caller asked me if I can pay $500.00 a month.
I told the caller if she is out of her mind that how someone can pay $500.00 a month when that someone do not have a income/job from last 1 year. The caller hanged up on me. |
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Ruthie
Joined: 15 Oct 2009
Ruthie's page
Posts: 49
1008 Magic Points
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Subject: Credit card debt
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Tue Nov 10, 2009 7:41 am
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| Yes, they do and can. How I don't know. But Citicard does it all the time. Then they will sell it to a dozen others. If you have no job, how can you pay a higher amt than what you did when you did have a job. Thats why our country is in trouble. Never talk to a creditor on the phone, do everything in writing. If they call you say you are not the debtor, that they live there and you need to send them a letter. No letter no response. Listen to the people on the forum, they are good honest people. There methods do work but take time. Thats something that most of them credit card companies don't have. One day at a time, one step at a time, and have faith. Your at the right place now. Good Luck Ruthie |
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debranewell2008
Joined: 10 Oct 2009
debranewell2008's page
Posts: 417
7184 Magic Points
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Tue Nov 10, 2009 1:31 pm
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Hi yes we can,
First things first unemployment is not free money. You pay into unemployment when you are working. So you have this benefit in case you do lose your job. That's why the amount you get is based on your pay. And in most credit card contracts they have a default interest rate and it is higher. And that is what you have done is default. No you may qualify for a hardship program. But if they find out you could have been getting unemployment so you could have paid your bills and decided not to because you consider that free money. You may not get any help. |
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FreedomDM
Joined: 28 Oct 2009
FreedomDM's page
Posts: 39
Location: Florida
830 Magic Points
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Wed Nov 11, 2009 12:36 am
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Michael J Brazier
http://www.freedomdm.org |
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Ruthie
Joined: 15 Oct 2009
Ruthie's page
Posts: 49
1008 Magic Points
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Wed Nov 11, 2009 3:18 am
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| Thankyou, I will pass this on to my daughter. I am trying to get her connected to a website in pa. She cannot afford internet service and its very hard for her at this time. Again I thankyou all. Ruthie |
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