“Dear Steve,
Over 2 years ago I lost my job. A month later I got another job, it was part time but worked out to become full time.
The pay I receive now is $150.00 less a week than what I was receiving from my previous job. My ex-husbands health is not good so I am not receiving allimony any more and that is a reduction of another $100.00 a week.
So I am down $1000.00 a month. Because of this I fell behind on my bills. I made arrangements with 3 of my credit card companys. I also made arrangements with my mortgage company because I am behind 1 month on that.
The last credit card company which I owe the most to( 17590.00) is not willing to accept what I can send them. I told them the situation and they say they understand but still can not accept what I can send ( $75.00 ) a month, but send it anyway.
So I do send it every month on time , they post it , and all the charges( finance charges that have gone up to 19.99% , and late fees of $35.00 a month. They are telling me that I am almost 6 months behind and I will be going to collection if I dont pay my minimum due which is the balance. I really want to pay my bills as I am the one who created them.
What can I do to get the credit card company work with me and my situation?
Dorene”
Dear Dorene,
I understand where you are coming from but your payments are not going to stop anything. At this point you are at risk of being sued, your debt will probably be sold to a debt buyer shortly when it charges off, and new collection efforts are on the horizon.
Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.
It makes absolutely no logical sense to subject yourself to these outcomes when you can step up and take responsibility for your debt and get the legal fresh start you are entitled to. You can then repay your debt as you can honestly afford to if you want to meet your commitment.
The guilt of breaking your repayment promise is holding you back from thinking clearly. Because in fact you’ve already broken your contractually agreed repayment promise and without action you may even eventually lose you house as well.
I would be you to click here to find a local bankruptcy attorney and talk to them for free about what bankruptcy would really mean for you.
And before you start making all sorts of incorrect assumptions about bankruptcy, responsibility, morality, etc., I urge you to review the links before to get the facts.
Please post your responses and follow-up messages to me on this in the comments section below.
