What to do, if you cannot pay-off your Credit Cards debts? just let it be?

Question

What is going to happen to us?!! Are they going to leave us alone - Is it wise to just leave at this – we have tried to contact the creditors to explain but no use. We have been asking for financial help but no one wants to guide us, the minute they find out we have no minimum payment to make. My family and I are going through extreme hardship (unable to disclose details). And we absolutely cannot do anything anytime soon. What about these debts!! we love to pay them of but our hands are so tight. If we don’t file for chapter 13.. what else can we do? and if, so what is it they going to do to us? Please "true information only".

Answer 1

You should pay $5.00 a month on each bill so they don't take you to court. When you can step up to the plate then pay them off. Do away with the credit cards. They are nothing but problems. Learn while you are young, credit cards are not the answer. If you don't have the money in your pocket to buy the items what makes you think you will have the money later. Now.... try and pay these off when you get your tax returns, assuming you will get a tax return. Don't spend that extra money on anything else! Having good credit is not easy. You must try and have an emergency fund that can last for at least 3 months in case you lose your job. Pay yourself first! Put 1/4 of your paycheck into a savings account possibly with INGDIRECT.COM, their savings account is almost 5%, better than any bank in your town! Good luck...it's not easy but it can be done. The creditors will continue to call, but you don't have to answer the phone. Change your number if it is unbearable. It is their job to harrass you to make you feel horrible. Let them send you letters instead. Just keep making minimal payments until you can pay it off. The interest rate will hurt you, but until you can pay it off you have not choice. If you stop paying on the bill, your credit will plummet to the lowest credit score so don't do that because it is hard to build it up again.

Answer 2

top notch solutions Your problem isnt the debt, this is the way you're taking care of you money. once you're making 2600, your lease won't be able to be by any skill 2200. What do you eat? vehicle insurance? Emergency mark downs? .... First you want to reduce your lease by seven-hundred or so. stumble on a good position that has each little thing coated. once you pass to the food market have the low-priced. do no longer endulge or overspend. Open an oline mark downs debts and placed 20 for now each month. Dont say you cant, you could. AH btw, the very reality you've debts has no longer something to do with mark downs.... you want extra money, get a extra efficient interest, or a 2d interest. in case you have not paid previous due previously, in order to rescue that credit and eliminate that debt you want a really agressive plan. minimum funds wont do, activity will eat them. Why in the international you pay a lot on friggin lease??? Are you operating a bussiness from that you're making all of you money??? if so you want to get one or 2 commonplace jobs and shrink the lease funds to live to inform the tale. think you want month-to-month 850 a month for lease (utilities coated) this will be even seven-hundred. 80 a month for nutrition, asumming you comprehend a thanks to practice dinner and strech the dollar. one hundred thirty for vehicle insurance, = poor credit 60 = cellular telephone 2 hundred miscelanous expenditures = gas, etc a month = finished 1260 a month to stay. in the experience that your interest elements 2600, wich is about 20 an hour, and also you get a component time for 10/h that elements at leasts 1000 greenbacks more desirable, that could be 3600 a month - 1200 = 2400 to pay on your debts You owe = 30890, Your debt to credit ratio sucks so that you cant ask for further. overlook about 0 % promises. So, Pay those 1300 first abruptly to strengthen your credit slightly. Then pay the different playing cards. do no longer INCURR ANY NEW DEBT. in a unmarried 3 hundred and sixty 5 days you would possibly want to be debt free = 30890/2400 = 12.87 = one eyar aprox.... in case you could make extra money or borrow out of your moms and dads you're inspired to attain this.

Answer 3

I know you said that you've been asking for financial help already, so this might not be a solution if you've already looked into it. However, if you haven't, please do. Try going to a local Consumer Credit Counseling Services office. They are located nation-wide and they help you to deal with your creditors and set up monthly payments. They will also talk to your creditors and try to get the interest that you are paying reduced. There was a point in my life where I had a ton of bills that I could no longer pay, so I went to CCCS and they really helped me out. I'm still not entirely debt-free, but I'm a lot closer to it than I was two years ago, and I really recommend this service. If you want to know more you are welcome to email me.

Answer 4

I had some trouble with this myself, not just credit cards either. I went to a program called CCC, they negotiate with your creditors and get a lower or possibly 0% interest rate for your credit cards, combine all your bills, and then you pay a set amount every other week. There's no way to pay off debt like that ya know? Unless you come into some money. So this way, CCC, you get A LOT more accomplished in a short amount of time and your bill collectors stop bugging you. You should check it out.

Answer 5

Contacting the creditors themselves isn't a good idea. Get a hold of Consumer Credit Counseling (CCC), look them up on the Internet and they can help you out. Creditors are not in the business of negotiating with you and don't really care to be helpful even if it means getting their money someday (key word is someday--they always want it now). Strongly urge you contact either CCC or some other 3rd party credit counselor for help.

Answer 6

I understand where you are. Do you eat or pay the CC bills? Of course you are going to go with the survival items when it comes to paying bills. But by ignoring them you will lose many points on your FICO. What I do is let a debt get old. Once it is good and old and they don't think they are going to get anything from you then you can settle the account. I have payed less then 50% of a debt by settling. But cancel all the cards ASAP. Otherwise the late charges will keep racking up. And then follow up to ensure that they did indeed cancel the accounts. I did not follow up once and they slammed me with b.s. fees.

Answer 7

If you just ignore them, they do not go away. They will continue to call you, they will go to collection agencies, and they can even go to court and get your wages garnished. You need to find every possible thing in your finances that can be eliminated (cable TV, costly cell phones, etc) and then use that money to at least pay something towards your credit cards. If you can get rid of them, your life will be much easier because the interest on those kill your finances, and make it hard to get ahead later.

Answer 8

Go to a lawyer. Ask about chapter 7 bankruptcy. Sorry for your troubles.

Answer 9

you could try some sort of credit counseling service or consolidation service but sounds like your options might be limited to bankruptcy - try looking in your area for free to the public legal advise...

Answer 10

Credit Card companies are *** holes
File chapter 13
Or consolidate your cards

They will haunt you til your dead