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I Can’t Afford My Debt Management Payment. – Geri

“Dear Damon,

I was in a debt management program until April. I was spending out $700.00 a month can no longer afford this amount. I have about 10 credits cards, total of about $2200.00 In debt. However, 4 of these creditors I owe a little over a $1200. The program I was in said that it would take about 5 years to pay off my total debt.

My question why should it take 5 years to payoff creditors that I owed much less to? They were sending them each $35-40.00 . Can you please give me some advise on how to locate another affordable way to payoff my debt?.


Hello Gerri,

I am going to work off the assumption that you owe 22,000 not 2200. If you dropped out of the program in April, what have you been doing about the debt from that time until now?

Have you been making any payments?

If you cannot afford the 700 dollars a month, what would you be able to afford to pay?

Do you have any resources to offer settlements to your creditors if the option comes up?

Please post your answers below in the comments.

Damon 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

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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
  • Gbiree

    Yes I have been making payments to some of the lower ones. But nothing on the higher ones, I can now afford about 450,00. I am working part time now. What do I need to say to my creditors? Since  I have not made a payment to since April in order to get back on some kind of new payment plan with them. No I cannot not afford a settlement if that comes up. ps 22,000 debt

  • JV5278

    Geri: You have TOO many credit cards (I did the same thing in the past). If Debt Management isn’t working, you should contact a Bankruptcy Attorney. Tell them your situation and ask their opinion. Most consulations are free. Take your time and all will work out. Hang in there – I’m almost done with my “stategic default” and I can tell you, there is light at the end of the tunnel…

    • Muhammad

      do you know any Bankruptcy attorney in dubai? we would really like to go to him as we are in a bottle neck situation. credit cards with huge outstandings, cheque return cases etc etc. and only earning an amount enough for our livelihood. i will appreciate an urgent reply.

      • Steve Rhode

        I don’t believe Dubai offers a bankruptcy option.

  • Gbiree

    yes, I owe 22,000 not 2200. I have  been making payments to the lower amounts owed. I have not made any payments to the higher amounts, However, I did send a letter to all of my creditors explaining why I had to leave the debt program.( lack of income).( did not hear from all of them.)  I  am working part-time now, I can afford between $450-500. I know I cannot afford a debt settlement on all of them.  Especially. if they are asking for a large payment. I am  hoping to pay off the smaller ones by December and then try to setup another debt payment plan  that I can afford.. However I do not know what to do about the rest of my creditors.

    • Damon Day

      Ok, what you are going to want to do right now is at least start saving the 450 to 500 per month. I am sure the creditors that you haven’t paid in a few months have offered, or are willing to offer a hardship plan by this point that might allow you to pay off your debts at a lower interest and in full over a 5 year period.  If not, or the payments are higher than you can afford, then you can save the money each month and eventually work some settlements with the creditors as your savings grows to a level that will allow you to fund the settlements.

      If things don’t go as planned and you get another 12 to 18 months out and cannot afford to settle the debts, you might need to look at bankruptcy as an option to just get the debt off your back and get a fresh start.  It may even be a good idea to look into bankruptcy now, but I don’t know enough about your overall situation to be able to tell you that one way or another.

      You can also call a few other credit counseling programs for a quote to see if they can get your payments down to something that you can afford. Try and see what kind of a payment they can negotiate for you.  Then you can make some decisions from there.

      • Gbiree

        Sorry did not see your post at first.   I do not want to consider bankruptcy, because it would destroy the good credit rating that my   husband has in his name. (  we r separate). I do not ant to run his credit

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