Latest Posts
Home > Ask The Get Out of Debt Experts > I’m Unemployed, No Job, Can’t Afford to Pay My Credit Cards, and I Need a Job. – Kim

I’m Unemployed, No Job, Can’t Afford to Pay My Credit Cards, and I Need a Job. – Kim

“Dear Damon,

Currently I’m unemployed and I have no job prospects for the future despite applying for at least 10 jobs a day. I have three major credit cards and I will not be able to make my monthly payments. I’m current on all three, I’ve used up my entire savings to pay my bills, but I no longer can pay them, at least until I get a job. I’m afraid even when I do get a job, I won’t make enough money to pay all of them. I’ve also been working hard for the past two years, before my unemployment, to get my credit cards paid off. So, 2 out of the 3 cards are in really good shape and I’m afraid I’m going to lose all of the hard work that I’ve done to get them paid down and my credit score up.

What is the best advice on what to do? I was going to call each credit card company myself, explain the situation, and try to settle or come up with a solution together. Is this a good idea? I don’t know what else to do because I can’t pay for any other debt services.

Kim”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Hello Kim,

From the situation you described it appears the only thing you can do is let the credit cards go at this point. If you get a job and are able to save money in the future, then you may be able to offer a settlement. If not, you may have to look into the option of filing for bankruptcy.

Calling the creditors now to try and offer a settlement while you are current will not be effective and if it was, then they would want the settlement now. Since you have no money to be able to pay them at this point, from the information you have given me, I would say that you must use your funds for necessities and let the cards go.

Im Unemployed, No Job, Cant Afford to Pay My Credit Cards, and I Need a Job.   KimIm Unemployed, No Job, Cant Afford to Pay My Credit Cards, and I Need a Job.   KimDamon is a talented independent debt coach that provides in-depth assistance and consultations for people struggling with debt. If you want a personal debt coach to help you through a difficult situation or want assistance to find secret discounts offered by debt settlement companies I think Damon Day is an excellent person to contact for advice and assistance. He can be reached directly at DamonDay.com

If you have a debt related question you’d like to ask, just use the online form.

I'm Unemployed, No Job, Can't Afford to Pay My Credit Cards, and I Need a Job. - Kim by

Share This and Spread the Word

About Damon Day

Damon Day
Damon Day is a talented Debt Coach who offers fee based consultations to consumers as an alternative to the typical free debt relief consultations which are nothing more than thinly veiled sales pitches lacking any real information to help a consumer make a good decision. You can learn more about how he can protect you from getting ripped off at DamonDay.com

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.