I have had them for many years and never been late but due to my lower income and the higher interest rates (they keep raising them and now I have 29.9% interest although I have never missed a payment or been late. There is no money to send them. No way to cut anything as I live bare bones right now and I have no assets, no car, etc. I heard that if I send them 5 dollars a month they can't do anything to me. However the interest on the cards is about 200 a month and with a late fee and over the limit fees that will begin to accumulate, the 5 dollars will really do nothing to reduce my debt. I know that but want to avoid them suing me as long as possible (although I have nothing of value for them to take and only make 700 month and have a dependent. My question is do I send the 5 dollars with the regular payment voucher or do I send a letter explaining my situation and the 5 dollars to the customer service address? I have no money or time to file bankruptcy.
2007-01-31
07:28:12
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7 answers
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asked by
reallyfedup
5
in
Personal Finance