When is it too late to deal with a credit card company? HELP?

Question

I havent paid my credit card bill. and its 6mo late. I am not currently working, but I need to know when should I REALLY get worried? My debt is 500$. Couldnt pay b/c of personal problems, but trying to now . is it too late?

Answer 1

Speaking as a nationally known credit score and lending expert (book, radio shows, newspaper columns, etc.):

As I said in my book, credit card companies will "charge off" an account and send it to internal or external collections when it is 180 days past due. You are right on top of that.

Call them! Maybe you can work something out before they charge-off. $500 is very little. Why not just find a way to pay it?

Answer 2

It's already too late for it to not affect your credit rating/report, but like the other poster said, you should either start paying it off now (or as soon as possible) and also contact them and let them know you have had some income trouble. Explain your situation and that you want to pay it back, but need to do it slowly.

Most creditors will work with you.

Unfortunately, you have already done some damage to your credit, but you can recover!

Answer 3

My husband and I have gone through all kinds of things like that. Usually, if you call the credit card company and tell them you would like to work with them and tell them how much you can afford to pay they are very willing. I have even called and had a $6,000.00 reduced to $2,000.00 to pay it off in full. just make sure you call them and dont make them call you and anything can be worked out

Answer 4

If you don't pay it now they will harass you for years until you do pay it, just send what you can. If you pay a little every month you might not get sued and it will look better on your credit report. good luck