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What's the best way to get rid of credit cards?

When my husband was making alot of money he got them but he's been out of work on and off for years, he presently doesn't have a job.He uses money from his savings that is going fast,he pays for 3 cards a month about all of them cost 700.00.I think it's wrong to keep paying for something if you don't have a job,what can he do about this?I heard something on the radio about getting out of credit card debt,they said,it's more important for you to be eating and having a roof over your head than to pay those bills every month.My husband says they will ask how much he is making and he won't call them for help because he knows it's wrong to keep charging if you don't have a job.What should he do about this?

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Anonymous

Asked by Anonymous at 11:12 PM on Aug. 18, 2009 in Money & Work

Answers (5)
  • It's not wrong to keep paying off your cards if you have savings and no job. Every time he signed his name on a receipt he signed a contract saying he will abide by the terms of his credit card company.

    He needs to go find a job. Paying them off with hard earned money is the best way to get rid of your balance. Consolidation can be a rip off, especially if you don't like to read fine print (or refuse to.)
    prettyrayray

    Answer by prettyrayray at 11:14 PM on Aug. 18, 2009

  • Don't pay, and don't pick up your phone when they call. It will screw your credit score, but you will have food to eat and a roof over your head.
    Anonymous

    Answer by Anonymous at 11:16 PM on Aug. 18, 2009

  • Write a letter along with a payment plan you can comfortably afford. He needs to get a side job or something to show that he is trying to payback his debt. If you cannot pay at all then let them know that too, but you should try to make an effort so that they don't have to ruin your credit. Keeping a good credit score is important because anything you need in the future that is big like a house or car will require credit.
    SylviaNCali

    Answer by SylviaNCali at 11:23 PM on Aug. 18, 2009

  • He should call the card companies and cancel the cards. If you get on a payment plan with them, they might be able to lower the APR. Good luck. Hope you two learned to live within your means from now on.
    Anonymous

    Answer by Anonymous at 11:26 PM on Aug. 18, 2009

  • That's how they get you,with that credit score,it's like a way to prove yourself worthy of owning those things,scary,I'm glad I never got messed up with that sh!*personally,but I have to live with his crap.What would happen if we filed bankruptcy,he doesn't have a job,he has like 2.000 in savings,would he still have to pay a little or what?
    Anonymous

    Answer by Anonymous at 11:51 PM on Aug. 18, 2009

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