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I’m One Month Behind on My Bills. What to Do Now? – Mark

“Dear Steve,

credit card debt from tome off work due to medical conditions that may still may be ongoing and spouse taking another job for $4.00 less per hour Credit card amount owed is around 17,000 total for all 3 cards.

Is the program you mentioned at http://www.ultimatedebtguide.com/index.htm worth my time and cash?

Question 2: I never planned any of this and in fact all three cards were being paid a month in advance and way over minimum due every month and never late. My credit was great except for one prior thing a Bankruptcy filed 01-08-2004. I understand the law and cant file only every 7 years. So we have to stall until the time runs. How can I stall that long? Would it be better to negotiate with the credit card companies? Or would it be wise to purchase the book you kind of promote at the http://www.ultimatedebtguide.com/index.htm web site? I have talked to a free Debt management firm and there suggestion was the bankruptcy route. I consulted an attorney and he told me that we will have to stall the 1 ans a half years but not to worry they do it all the time. Meanwhile I am now 1 month in the rears and the creditors are calling which I do not answer. Thank god for caller ID. I have looked over lots of your forums and your advice is to the point and honest so does any of this make sense to you and is there any advice you can help me with?

Mark”

Dear Mark,

Don’t waste your money on that book. I’ve looked all over my site for the link you mentioned. Where is it? I’d like to remove it.

If I understand your question correctly you have previously filed bankruptcy and are contemplating it again. And I’m assuming the reason you’d want to wait for a Chapter 7 bankruptcy rather than a Chapter 13 bankruptcy is because you don’t have the income to support a Chapter 13 repayment plan.

If that’s the case then the credit cards need to be put on the side and you need to focus on gaining income at this point. Once you can increase your income the credit cards can be dealt with. Until them, just be polite when the collectors call and let your accounts flow through the normal collection cycle. By being polite you buy yourself time as your account just moves from bucket to bucket through the process. Never make a payment promise you can’t keep. if you can’t pay, just say you can’t pay.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.




About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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