Recently Divorced Mother of Three Has Credit Card, Medical and School Debt. – Gail

“Dear Steve,

Recently divorced mother of 3. I still have a great deal of credit card, medical and school debt. I am only working part time and would really like to begin making some type of payments to my creditors no matter how small until my emploument situation emproves.

Should I contact each of my creditors and how do I do that or contact a credit counseling agency?

Gail”

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  • Tricia

    Contact the creditors direct! :) Don’t go to credit counseling unless absolutely necessary. Once you speak with them give them your situation and tell them how much you can pay (don’t leave it up to them to decide on the amount). Make sure you pay ontime because they can cancel the new payment arrangments if one payment is missed. Then evaluate every dollar you spend to see if you can squeeze out another $40 or $50 per month to apply to your lowest card to get it paid off. Roll the payment up to the next card and keep moving forward. You will see a difference, it just takes time. School debt-they may give you a hardship deferral just ask. If not, and it’s a federal guaranteed loan do your best to make those payments. They can take your tax return if you are in default. Medical can be paid off too and sometimes negotiated to pay reduced amounts. Call your creditors and tell them your situation, you may be suprised.

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