i am on the sick my card insurances payed out but benifits so low used my credit cards now cant afford to pay them back what do i do i am so worried. i also have cancer have prostate cancer
2006-10-20 05:10:29 · 33 answers · asked by spazmanace3 1 in Business & Finance ➔ Credit
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2006-10-20 05:11:53 · answer #1 · answered by mytraveldesign.com 2 · 1⤊ 7⤋
You poor guy - I should think financial pressure is the last thing you need right now. You could try writing to the individual card issuers to explain and ask if they can freeze the interest while you pay back the debt at a manageable rate. Better still would be to contact the CAB who have specilist debt people on hand. They will organise everything for you to get the payments massively reduced. In the mean time dont worry - what can they do ??? Just get yourself better first and worry about the debt later. Good luck to you in your treatment and hope you are back to health soon x
2006-10-20 05:15:17 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Cut up the cards. Stop spending. Look for ways to cut your spending to the bone. Scrimp wherever you can. Your primary needs are housing, food and transportation. Everything else is negotiable. Get another job or try to work more hours. Ask a friend or family member for a loan to pay back the credit cards, depending on how deep you are in debt and how much they are harassing you. If it gets sent to collections or they take you to court over it that is a whole other level. You should try to make sure it doesn't get that far by paying whatever you can. Watch out for debt consolidation companies. Many of them are scams and make promises they can't deliver on. You think they are paying off the credit cards for you but they aren't. If you consider that route, check out the company very carefully.
2016-05-22 05:12:40 · answer #3 · answered by Wendy 4 · 0⤊ 0⤋
there are a few organizations to help you when you can't afford your debt. check out http://www.creditinfocenter.com/ for some help on debt consolidations. A lot of these basically close your credit card accounts, negotiate lower costs than your current balance sometimes, and provide you with a loan that is at a lower interest rate and for a longer term than required by your current creditors. You can do all this yourself and get a home equity loan to pay it all off, but you need to be disciplined and NOT run up credit card debt again, because you will have opportunities to do that again.
2006-10-20 05:22:13 · answer #4 · answered by chris m 3 · 2⤊ 0⤋
Credit card payments... the real killer is the interest payments. if you do not have money now, if you are member of a credit union, get a loan to pay off the credit card debt. that way you have minimal interest to worry about. (Credit Unions are much better than banks in this case. Banks also have prohibitive charges)
Normally it is a bad idea to get a loan to pay off another loan, but in your case it seems the only option as the interest charges seem to be spiralling out of control.
Good luck.
Sorry to hear you have prostate cancer.
2006-10-20 05:15:05 · answer #5 · answered by Balaboo 5 · 1⤊ 1⤋
Contact your card company and ask them to reduce your payments to a reasonable level. Remember that no court will ever force you to pay back more than you can afford, which is what you are currently paying.
Finacially things can only get easier for you from here, but you have to stop using the cards now and face up to the problem.
If you need help visit-
http://www.debt-line.org.uk
2006-10-20 08:41:14 · answer #6 · answered by Anonymous · 1⤊ 0⤋
First step is to cut them up so that you aren't tempted to use them again. I would then contact everybody that you owe money to and let them know that you are having difficulties repaying the money. They might come up with a more manageable payment plan for you. Some companies will also waiver the interest on the payments if you are in genuine difficulties. I would also make an appointment to see the Citizens Advice Bureau, they will be able to give you some good practical advice.
2006-10-20 06:02:54 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Don't hide from it. Write to them and offer to repay at £1-00 per month. They cannot touch you if you make an offer to repay. Then get yourself down to the Citizens Advice centre and tell them everything. Forget about pride here, it is survival time. They will advise you on how to sort things out but be up front with them.
In the mean time do not panic. You are far from alone in these type of situations believe me. Good luck friend.
2006-10-20 05:21:35 · answer #8 · answered by brian l 2 · 2⤊ 0⤋
Contact CCCS (www.cccs.co.uk) they will help you set up a debt management plan that allows you to pay what you can afford ( they are a charity and don't charge for their services). And cut up the cards now before you get further in debt. Wish you the best of luck with defeating your cancer, just get the DMP set up ASAP then its one less thing to worry you
2006-10-20 05:19:11 · answer #9 · answered by rcrowedj 2 · 2⤊ 0⤋
If your debt are less than £5000.00 you can go to your county court and get an administration order and instalment order,this is basically a payment plan for your creditors you pay the court a minimum of £1.00 a month and they then pay your debts,there is an administration charge of 10p a month.After so many months your debts are then wiped as it would take the rest of your life to pay back at that minimal rate.None of your debtors can then make demands for payments.
2006-10-22 05:42:25 · answer #10 · answered by candyfloss 5 · 0⤊ 0⤋
I think what you should do now is calm done... after you are well, start working hard and earn to pay the credit card payments.
(I am not sure if this works, i am at taiwan and someone uses this to make it lesser..... Get another credit card and pay the payments on that credit card and continue so that you have a lesser interest to give)
2006-10-20 05:13:29 · answer #11 · answered by Anonymous · 2⤊ 1⤋