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Credit Card Payment Plans

I was on a payment plan with my credit card company that became too much per month. I called to get on a new plan and they said no. The amount I was paying was on auto-deduct from my account and was too much per month and over drawing my account. I removed myself from the plan but now I'm left with no plan, no money to pay the balance owed and debt accruing again. What can I do????

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Anonymous

Asked by Anonymous at 12:22 AM on Aug. 21, 2009 in Money & Work

Answers (5)
  • How much exactly do you owe, make , and what is your payment currently? Do you have other available cards? Can you do a balance transfer to a different card. Do you own a home? If so, can you do a refinance on it?
    catsrock

    Answer by catsrock at 12:26 AM on Aug. 21, 2009

  • The amount is $7500. I'm a stay at home Mom, hubby works but we are pay check to pay check. I don't want to refinance the credit card debt to my home. God forbid I did that and hubby got laid off, that unsecured debt turns into secured debt and I could risk falling behind on my mortgage. I've tried selling some things on Craigslist and Ebay but they are not selling. I don't have many things of high cost and what I do have worth $$ has been in my family for years and I could not sell. I just can't believe the credit card companies won't work with me to get SOMETHING.. this lady just simply didn't care and told me to call a credit counseling agency.
    Anonymous

    Answer by Anonymous at 12:35 AM on Aug. 21, 2009

  • I'm very sorry to hear that. I've dealt with mean creditors like that before. Maybe you should try calling and see if you get a nice person. Ask if they can do anything better for you. Have you ever thought about working from home to try to pay that off asap? I'm also a SAHM. I have a 2 year old son and 5 month old daughter. I recently started working from home to make some extra money. I'm very happy I did. I work with a great team of Moms. We help each other reach our goals. We help people create income from home.
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    mommy2joeynabby

    Answer by mommy2joeynabby at 2:02 AM on Aug. 21, 2009

  • I would encourage you to call the credit card company again and see if you can get someone different. Most of them are willing to work with you - they want their money. Particularly now that you've removed yourself from the plan and they aren't getting the money automatically, they may be more willing to set up a different plan.
    missanc

    Answer by missanc at 8:58 AM on Aug. 21, 2009

  • The Dept of Justice has put together a database of credit counseling/debt consolidation orgs with the DOJ stamp of approval-
    http://www.usdoj. gov/ust/eo/ bapcpa/ccde/

    rkoloms

    Answer by rkoloms at 9:34 AM on Aug. 22, 2009

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