Mohamad Wants to Pay His Creditors If Only They’d Let Him


“Dear Steve,

Our company closed by end of January and I’m behind with my bills. I’m struggling to pay my mortgage. I call other credit cards and some of them made payment plan and lower the interest but Capital One is giving me a hard time. I owe them $16,000 and the collection agency call me and the only deal they want to make I pay $5,000 now and when my company close they want me to take money from 401k to pay by April. I try to contact debt consolidation company but some of them are no good and last experience I had for my wife they did not represent New York. I’m confused and need help I told Capital One I want monthly payment plan but they refuse.


Dear Mohamad,

People find it hard to believe me when I say that often the hardest obstacle that people have to face is to get their creditors to take a monthly payment.

If the collection agency may just be collecting the debt and is limited in what they can accept by instructions that Capital One has given them.

In your situation a debt management plan may be a logical step to take and while you have had a hard time finding someone to work with, click here for debt management information and help. The advantage of working with a debt management company is that they have a better chance of slipping this debt back inside Capital one and out of the hand of the debt collector that won’t listen to you.

This time, let’s get your Capital One debt into a debt management solution and see where we go from there.

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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.
Steve Rhode
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