I Was Laid Off, My Husband is Still Out of Work, Can’t Afford to Pay Discover. – Kari

I was laid off over 2 months ago, my husband 7 years ago and still out of work. I have a Discover loan in the amount of 23,000 interest rate 10% payment 479 per month. I called to see if they have a hardship program and all they did was tell me to turn down my air conditioning unit to save funds and pay my bill. I haven’t missed a payment yet, but now it is a questions of food/insurance/mortgage verses this payment.

Do I call again? Do I now stop paying them? I can’t afford next months payment. Do you think they will work with me on a settlement?


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16 thoughts on “I Was Laid Off, My Husband is Still Out of Work, Can’t Afford to Pay Discover. – Kari”

  1. Kari, I understand your situation because I am living it myself. I lost my job 2 years ago and have been searching for one ever since.  I am 63 years old and have spent my whole working life in a management position. Now, if I get an interview, they say  you are over qualified. In other words I am too old. So for the past two years we have been using my credit cards to supplement the income I’ve lost. The monthly obligation to my American Express became so high that I knew I would no longer be able to continue the monthly payment. I called them before it was late and explained my situation and that I would be mailing what I could but that the amount would be far short of what was due. I asked if there was anything they could do to help me out for at least the next 6 to 9 months. Their response was that I have been paying on time and at least the minimum if not more so there was nothing at this time to help me but to call back after the bill was past due. I called four days after the bill was due, explained I paid a good faith amount, but still they could do nothing to help me. Needless to say they have been calling me every other day for the payment. Each time I explain my situation however they still can’t help me, not even for six months. Finally, after two months past due, (which was what one of their callers told me to do) I was transfered to their collections department. I explained my  situation, out of work two years, can’t find employment, husband had cancer surgery and we have to pay medical bills, exhausted 401K, having to use credit to pay for necessaries like food, gas and clothing. Her response was “we can’t help you because of the excessive amount of charges that have been made to the account. WHAT?  So now my excellant credit will be effected because I waited like they said to be able to make some sort of arrangement and now past due plus interest has made it impossible for me to come close to catching up.
    Sorry to dump my problems on top of your problem, just wanted to let you know you are not alone. I think this resembles predatory lending.

    Good luck!

  2.  I’m in the same boat with several credit cards and loans myself. I just sent them hardship letters explaining my situation. I will pay them when I can, but my life comes first. Without food, shelter, electricity, and clothing; what’s the point in paying for anything?

  3. Hi Kari,  I’m so sorry for your current situation.  I know someone who owed discover $5k.  He didn’t pay it for 6 months and they actually served him court papers.. If you can get into a debt consolidation plan, then do that quickly.  They might be able to negotiate a lower monthly payment for you based on your income and expenses.  Good Luck!!

  4. I’m in a similar situation.  Lost a great paying job in 2005 and am now making about 1/3 of my previous salary.  Unfortunately, the bills didn’t adjust accordingly and now we are in debt to the tune of about $62k.  My arrogance convinced me I would find a job in the same salary range and now we have maxed out almost every card we have.  Not late on any payments but our debt to income ratio is not good and we barely squeeze by each month.  About 1/4 of the debt is Discover who is charging me a very high interest rate for a customer who always pays and usually more than the required minimum.  In fact one card was a 0% interest introductory rate and at one point I had received a letter advising the rate would be 0% until paid in full.  Unfortunately, I cannot locate the letter to confirm anything.  Could have paid it off at one point but with 0% interest for the life, why?  I’ve considered debt settlement but am a contractor for the military and could run the risk of loosing my required clearance.  In calling Discover I get about the same response you do.  I have always paid my bills and honestly am not trying to get out of doing so.  However, they are pushing me that direction very hard.  My prayers are with you.


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