Where Are The “Eager to Help” Creditors? – Steve

“Dear Steve,

I am nearly reached the end of long journey journey to enter a heathcare profession. Credit, damaged during the lean years of graduate school, was most rehabilitated. But then I had a job change (with pay cut) and adding insult to injury, I have stumbled at the last professional qualfying hurdle – the licensing exam. Once that is behind me, financial potential will be nearly limitless.

Presently, however, my employer has dropped my modest salary and is paying me only per session (a paltry sum due to the aforementioned licensing trouble.) We aren’t far behind with bills, but, as an example, the car finance company let us know they could offer us NO concessions unless I was fully employed. Paying the one overdue payment cannot be done by mail, phone, or their website because those will only accept total payment of both the current and past due payments. We must use a money transfer service. (I won’t mention their astronomical interest rate we swallowed purchasing this essential family transportation while still in my fresh from grad school credit slump).

We have a couple of other accounts where I’ve tried send explanatory EMails asking to make arrangements. All I get are the incessant “When can we expect payment?” calls.

Needless to say, the stress of all this doesn’t facilitate my being able to properly prepare for re-taking the licensing exam.

We just need a few months’ breathing room. Why doe it seem so diificult to get?

Where are the supposedly “eager to help” creditors?


Dear Steve,

You silly goose. You fell for the public relations line that creditors tell government and the public and now you are learning what reality is.

I think the situation is what it is and you are just going to have to prioritize payments to retain the car and let the other stuff fall behind. You’ll be in collections but if at all possible, just mentally set is aside so you can focus on the exams. It can all be cleaned up and dealt with afterwards.

See also  How to Stop Debt Collector From Calling You - Video

Bankruptcy could shut the creditors up but I don’t think you need to do that, all you really need is a brain break to get over this last hurdle. You might want to read “How to Hide From Debt Collection, the Debt Collector, and Creditors” and see if that isn’t exactly what you are looking for to solve this short term issue.


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.

2 thoughts on “Where Are The “Eager to Help” Creditors? – Steve”

  1. Steve, OK I saw you tell someone else they were silly for falling for claims of creditors willing to help you out. There are two commercials in particular airing now basically giving an example of someone who was at their wits end and creditors…Capital ONE, Discover, etc. worked with them. Are you saying this is an out and out lie. If so whats up. Your always told to try talking to creditors which has worked for me except for GM Card. They absolutely would not budge when ask for any kind of help, not trying to get out of paying them mind you,asked for lower int rate, lower monthly payment…. and they were EXTREMELY rude over the phone, even though they just had a bailout!!!!!!!!! and although i voted for Obama his credit card help seems to be a joke. Basically they will do whatever they have been doing as long as they notify us in advance were being screwed. Just wondering if you have any idea why there was NO help for credit card customers in this stimulus plan.
    K Lacy

    • K Lacy,

      It’s a bit of a double edged sword. On one hand I am a but supporter of open communications with your creditors. On the other hand I have seen so many cases when the creditors would not offer meaningful help that I guess I’m skeptical.

      The debts that people are having the most trouble with are home loan modifications and modifications for auto financing. But both of these areas are traditionally areas where the lenders have not been very flexible to begin with.

      As far as Obama and credit card help goes, I think that there has been a lot of progress made to protect consumers from credit card companies. New legislation that will pass soon will increase consumer protection even more.

      And your observation is correct. There was no protection offered to consumers under the stimulus plan. In fact if you listen carefully, you will hear that the government wants consumers to start borrowing and banks to start lending to get the economy going again. Unfortunately it takes consumer consumption to drive our economy.



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