WaMu Will Not Let Me Change My Due Date. – Robert

“Dear Steve,

I want to change the due date on my WaMu credit card account and because I am over the limit they will not change it. In 2007 I went on preretirement at age 62. I only get $800.00 a month and my rent is $400.00 gas and electric $250.00. I pay them $60.00 a month but it is after the due date I get hit with late fees and am going backwards.

My check is on the third wednesday of the month so I am out of money when the bill is due. it is due around the 12th of the month.

Robert”

Dear Robert,

I’m not surprised you’ve run into this roadblock. But it might have been a good thing since you’ve reached out and I can provide you with some outside advice.

Robert, with your income and situation, can you even afford to repay WaMu at all? I’m worried that repaying this debt leaves you so broke that even an increase in rent or utilities is going to sink you. What happens if you make a year worth of payments and then your heating bill goes up and you can’t afford to repay WaMu anything? You’ll just be a year down the road but faced with the exact situation you are now.

Frankly the easiest way to get any creditor to listen to you when you are current on your bills but need help is to fall behind and get late on payments. The latter you get, the more flexible the lender gets with repayment options. I know it sounds crazy but that is the way it works.

If you have no assets you might even just be able to disregard the debt and stop paying it. It will hurt your credit but your ability to feed and keep yourself properly warm is more important than that. The other consequence of not paying is that you will get all sorts of collection calls, letters, and maybe even threats of being sued.

I recognize that you don’t have much money laying around and probably could not afford to pay for professional assistance to go bankrupt but if this is your only debt, you could probably do it yourself. That is not something that I usually suggest but your situation is different and unique.

My suggestion is that you schedule a free bankruptcy consultation and go and discuss your situation with a local bankruptcy attorney. It won’t cost you anything.

Sincerly,


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.
Steve Rhode
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