I’m Broke and Living With My Parents. My Credit Card Company Wants Me to Send Them a Letter. What Should I Say? – Noname


“Dear Steve,

Hi, I am currently unemployed and broke living with my parents just barely getting by. I have about $3,000 in credit card debt which is 90 days since last payment. I am actively seeking a job now and called the credit card company and told them about the situation.

The credit card firm said that I should write them a letter on this. What should or shouldn’t I write them. Think I could ask them to freeze the interest and fees for six months so that i can clear the balance?

Your advice is welcome


Dear Noname,

How about:

Dear Creditor,

I don’t have a penny to my name and I’m living in the basement of my parents house. I’d really appreciate it if you could just look the other way on the interest for the next six months or so and when I can start sending in a payment again, I will.

Sound cool to you?


Seriously, you can tell them exactly what your situation is and ask for the moon. But, when you send this letter, make sure that you have no expectations about any results.

The letter will document your current situation but your account will continue to flow through the collections queue for the next 90 days and which point your account will charge off and be sold to an outside bad debt buyer to pursue you.

Hopefully by that time you will have found a job and will be making money to begin to repay this debt. If you land a job soon before the debt charges off, call the original creditor and get on a payment plan with them to prevent the charge off.


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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.
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