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Need to get rid of credit card debt with lower payments. – Jennifer

I am not working at this moment but should be better off within a year. I am in $14,000 credit card debt. I am making the payments right now and have never been late, but during the next year, 2012 I may not be able to make all of the minimum payments and still be able to afford what I need to survive…food, insurance, etc… at the same time.

What do I tell these companies if I can’t send in a minimum payment every month. I am just frightened of what they can do to me if I don’t. I own my home outright and do not have any car payments or any other kind of debt.I do not want to get any kind of home loan to pay these cards off because I do not want a mortgage on my home, and I am fairly certain that I will be able to pay them as soon as I can get back on my feet sometimes during the 2012 year.

Thank you for your assistance.

Jennifer

Need to get rid of credit card debt with lower payments. - Jennifer by

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  • Michael

    Jennifer,

    Who are the debts with?
    What are the balances and interest rates on each account?
    What is the amount of your monthly cash flow you can count on right now and into 2012?

    Answering these basic questions in a comment reply will help myself and others to better provide tips and feedback.

    As far as what to say when you cannot pay… its sometimes as simple as stating “It is not my intention to not pay what I owe. I am not working and have no reliable income. I have several things in the works to get my finances back on track and will be in touch as soon as I can put a solid plan into action.”

  • Michael

    Jennifer,

    Who are the debts with?
    What are the balances and interest rates on each account?
    What is the amount of your monthly cash flow you can count on right now and into 2012?

    Answering these basic questions in a comment reply will help myself and others to better provide tips and feedback.

    As far as what to say when you cannot pay… its sometimes as simple as stating “It is not my intention to not pay what I owe. I am not working and have no reliable income. I have several things in the works to get my finances back on track and will be in touch as soon as I can put a solid plan into action.”

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