Credit Card Debt Problem

Okay I admit I screwed up and went on a spending fee while in college and now I'm paying for it. I recently got laid off from my job, but this didn't stop the bills from coming. I'll tried ever thing in my power to set up a payment plan with my credit cards but now that I'm behind and most of the cards are in collection nobody want to work with me. Most of my credit cards are with a debt management program and some I'm making the minum payment, but there are some that are in collection and I don't like the way the reps talk to me. They're telling me that the account must pay the full amount as if I'm made of money. I've explained to them that I can't do this, but was willing to set up a payment plan. One credit card in collection I owe $1297.25 on it, but when I told them I could pay $25 to $30 a month until other credit cards are paid off and I'll raise the amount they laugh in my face. Their offer was to settle and pay $800.00. I can't do this. I have other bills to pay! Please help!

Well my husband and I had this same problem from debts he incurred before we were married. I would recommend finding a good not for profit credit counseling agency. They helped up pay off a 13000 dollar debt by arranging to stop late fees and lower interest rates. You do have to agree to incurr no new credit during this time. In the long run with the right agency it can be a great program. You can look online for one in your area.

2007-08-24 12:43:21 by veronicamathes

www.letsforgetdebt.com - An excellent informative site and service to help anyone with credit card debt. A step by step video talking about the ...

I am very embarrassed to say once again, that I have fallen into credit debt to the tune of £35,000! Two years ago I took out a loan with my mortgage company to clear one set of CC debts. Two years later, I have been sucked in again and feel rotten about it. Can anyone here please give me advice on what to do? Should I take out another loan with the same company and consolidate my CC's. Or should I go back to the credit card companies? If I can clear this debt, I will try everything in my power not to make the same mistake again. Fluff with sleepless nights again! Please help!
I am single with no dependants. I know this is all my fault and do feel guilty. I have a generous heart and have given away too many cash gifts and taken too many holidays. Spent heavily on gadgets etc. I will cancel all credit cards and seek advice, will probably take another loan to consolidate and then keep a tight reign on all future spending, no more borrowing on cards ever again! I mean it this time. Thanks for all tips and comments, I can see light at the end of the tunnel, long trip but worth it.

First thing First. Cut credit cards now! Now that you have cut your credit cards, try to consolidate you dour debts to pay less interest. Finally, don't replace your credit cards, save up and pay cash!

2007-07-02 07:24:05 by fluff

Price: $2.99

some background.last year i worked as a teacher in a private school. so i dont get paid in the summer. this year i will be working in a public school, yet i wont get paid until what could be the last of aug.
the problem. my credit card bill for this month is around $800.after paying my other bills i dont have enough money to cover the entire bill. i still have two weeks to come up with the money but i doubt i will. my question is should i pay only the min. payment on my card or should i pay as much as i can? i dont want to empty my bank account. also i might not get paid from my new job in time to pay next months bills. what should i do?

Always pay as much as you can. The interest rate on credit cards will eat you up unless they are offering some sort of a short term deal. If the interest rate is very low, then you can afford to pay just the minimum. You're very smart for worrying about this. Many people don't assume the responsibility of paying off debt and let it build until it's unmanageable. Good for you!!

2007-07-08 13:44:58 by tunderwife

Price: $8.76

Joe Stupid, George W., or the Credit Card Pushers.
HEY JOHN G., Neither really, I just wanted a myriad of opinions. Thats why I phrased it like that. I've got no beef with W.

Do you really want to know or do you just want have some reason to hate GWB?

Prior to the Carter years (yes, let's blame him) credit card companies were limited to how much they could charge and it was a single digit number. The rate of inflation increased under Carter and the interest for money (the prime interest rate) borrowing also increased but CC companies were still stuck with low interest rates by law. With the help of the CC companies the democrats in Congress (yes, lets blame them too) passed a law that allowed CC companies to charge the rate allowed by the state where their home office was located. No more federal oversight! The then governor of South Dakota (before he killed a motorcyclist with his car) was ready. He went to NYC and spoke to the CC companies and told them he had a bill ready in South Dakato that would allow them to charge 29% interest and more. The CC companies leaped at the opportunity and opened home credit card offices in South Dakato. The governor later said that he created a Frankenstein monster (there was no upper limit established in the law). Delaware followed suit and if you look, most addresses are South Dakota and Delaware.
Who to blame? CC companies acting in their own self interest making more money as a percentage than the oil companines? Democratic law makers from the 70s? Jimmy Carter for allowing the economy to get in such sorry shape? The democratic governor of South Dakota and his tame law makers? The people who use credit cards? Remember about those people they are playing against the house with the house rules. The house almost always wins. No George Bush though or Ronald Reagan or any republican. Sorry to ruin your night.

2007-07-11 22:33:40 by Funky

I owe 10 grands including all of my credit cards, I don't make a lot of money at this moment and think about appealing to credit card debt problem solution, should I do that or no???
I'm stressing out and agitated by it.

What is the difficulty in resorting to both the options? If you do not make any payment, the credit will go up with the penalties mounting up. The credit card is a menacing hound that will not leave you in peace even in your grave. I wonder who invented credit card. I wish all responsible governments abolish credit card system, for it is a drain on the economy of the individuals,.

2008-05-28 14:11:44 by Jon K