Chase Bank is Jacking Up My Payment. I Can’t Afford it on Social Security. – BJ

“Dear Steve,

I have got 8000 in debt to Chase, i am paying them 100.00 a month, but they add on so many extras it keeps getting bigger instead of it coming down. The lst letter i got from them is telling me they are going to up the interest if i dont pay more. iam on ss and i dont know what else to do. Help Thanks

I was paying 79.00 a month and somehow they added on 700.00 dollars, which i know was alright, but the payment started jumping to 200.00 to 300.00 and now is almost 400.00 amonth.

BJ”

Dear BJ,

Let’s take this in stages. The first thing I would suggest is that you click here for credit counseling information and talk to a credit counseling group to see if they can lower the interest on that account.

Then, we need to start thinking about what we are going to do from more of a big picture view.

• Do you have other debts you are paying?
• Are you using credit to make ends meet?
• Can you get by on your income?
• What extras did they add on?

Check with the credit counseling group and then come back and post answers to my questions in the comments section below, please.

Steve Rhode Debt Coach and Author

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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