Diana Is Struggling to Make Credit Card Payments And Afraid


“Dear Steve,

I have approximately $25,000 in credit card debt, drained my savings and struggling to meet my payments. I can pay my mortgage and normal billing but not the cards

I am so confused about wha is available out there and frankly scared that I may not do the right thing with a repuable company. Can you help.


Dear Diana,

It is normal to feel scared and afraid but I don’t want you to feel that way anymore. Consider yourself protected from this point on.

I wish you had found me before you started draining your savings account to get by and pay bills. I would have pulled you away from the checkbook, lovingly tossed cold water on you and said, “Diana dearest, what are you doing?”

Savings is there to be used in case of an emergency but not to continue living a life you can’t afford. Unless you can face the underlying issues that are leaving you financial abandoned, then dribbling cash from a savings account will only leave it bone dry and you, without further financial transportation. It is not a solution.

You should give yourself a real pat on the back that you reached a point and found the courage to reach out for help. That’s a huge step. And now that you’ve done that, you are absolutely right, who can you trust?

Now that you are tapped out there are really only a few logical options so let’s talk about them.

One of those options would be to explore entering a debt management program where you would make one monthly payment to the debt management company and they would divide it up amongst your creditors and pay them a new amount that might eliminate interest and fees.

But that’s not really a good solution for you at this point since you really don’t sound like you have the spare cash to be able to pay anything on a continual basis. I surely don’t want to see you enter a payment arrangement in a debt management program just because you are scared of your creditors. If you can’t make all the payments in the debt management program and eliminate your debt over five to seven years then you are throwing good money after bad.

You could immediately run and go bankrupt and discharge, get rid, of all your unsecured debt. Bankruptcy would eliminate the credit card debt but you could probably keep the house and car. I would suggest that if you consider bankruptcy as an option that you contact a bankruptcy attorney and ask for a free bankruptcy review to discuss your specific situation.

Another option, that will sound silly, but it’s not, is to do nothing at this time. You see the reason you have found yourself in this situation is either because your debt suddenly increased or your income dropped.

I suspect it is either a combination of those issues or primarily caused by a reduction in income. If that is truly the case then an option is to ignore the credit card bills that you can’t pay for right now and focus on trying to increase your income or get a second job. You might want to take a look at the America’s Job Bank page I created to help people find jobs.

This is a reasonable course to follow if you don’t want to go bankrupt right now, for your own reasons, and want to take a stab at repairing the situation. You’ll always have bankruptcy to fall back on in case a credit card company sues you or you just can’t increase your income to meet the financial demands.

If you do this the collection calls and letters will continue to come. Don’t let them rattle you, bankruptcy will be your fallback plan in case nothing else works out.

As far as being scared about working with a reputable company, that is less of an issue. Most every bankruptcy lawyer and debt management company does what they say they will do. Just watch out for a company that wants to sell you credit repair services as a solution or says if you pay them they will give you a debt consolidation loan.

While your situation feels dire, the reality is that it is a fairly common scenario that millions and millions of people are facing and suffering in silence with every single day.

If you need more help or advice, don’t hesitate to contact me.


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.

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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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3 thoughts on “Diana Is Struggling to Make Credit Card Payments And Afraid”

  1. Dear Steve, I am glad I came across your site. Some of the questions I had were answered here. Thank you for that.
    One topic I could not find. My debt was caused by something totaly different. I am 48 years old. six years ago,the youngest of our three children moved out.My husband works swing shift and I found myself lonely and depressed. I didn’t know what to do with myself.But then I found the casino. A place I could go by myself.I made alot of friends there. I felt happy and content,that is until the gambling addiction took over. I didn’t realize it at first. I had excellent credit and could get any card I wanted without my husband knowing about it. I have my own business,I make my own money. I was using the cards when I ran out of cash to gamble.then when I could not make my payments I took from the cards to pay it. Everything snowballed.
    I heard that if your debt was caused by gambling, there is help to get it payed off or half off or something.
    have you heard of this? thank you Sally

  2. Dear Steve:

    I came across your site by chance. I assume you are not an attorney; however, I am, and from the little I have read, it appears your advice is quite sound and well-thought out.

    It is almost sunrise here in Miami, Florida and I have not yet had any sleep so I must hit the sack. However, if you follow up with me, I shall provide you with some information (in the event you are not already aware of it) regarding Federal law in the areas of credit, debt collection and the like, which provides some extremely valuable tools for debtors dealing with unsecured creditors.

    I commend you for the free service you are providing to those who are scared, confused and in need of sound advice from a source with no axe to grind or iron in the fire, as they face this terribly difficult time in their lives.

    God Bless You.

    Yours Truly,

    Dr. Kenneth F. Conrad, III, Attorney at Law
    General Counsel


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