I coudn't pay my credit cards this month. They are late a few days, why are they already contacting me?

Question

I sent letters to 2 of my credit cards explaining my situation and sent each a small (very small) payment. I was over on one because they extended my billing month and it was 34 days instead of the usual 30 so the interest made me go over by 5 dollars. I paid the overlimit amount but got a note today to pay 75 that I am over as soon as possible. The 75 is the late and over the limit fees that they have added when my statement closed on the 12 th of this month. I am going to file bankrupcty in early april. I'm waiting for my little refund to come so I can do the credit counseling thing (useless but required). I will then have to look around for free bankruptcy help. I have no money and my employer has punished me work working 3 extra hours last (although the needed me and someone didn'lt come to work) by cutting another day off me this next week. In additon, someone has been calling me 6 or 7 times these last 2 days and not leaving a message. I think it must be one of them too

Answer 1

The card companies are nuts right now. They'll harass you daily until you're caught up. If you don't answer the phone, their dialers will call you several times a day.

Send them all letters that you will only deal with them by mail, and that they must cease calling you by phone. If you don't use certified mail, don't expect the letters to work.

Here's a link to the Fair Debt Collections Practices Act. Read up on your rights. http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm

PS if you're going to wipe them out in bankruptcy soon, don't send anyone another nickel. Seriously.

Answer 2

Honestly, simply cal the cards RIGHT NOW and negotiate a lower interst rate or lower monthly payment, and explain the situation. They might be wiling to suspend payments or lower your minimum, or something similar. Other than that, if you KNOW you are going to start missing payments like crazy, choose a couple of them to stick with and let the others go. Each card will charge you around $35 for missing a payment and $35 if you go over limit (and if you go overlimit becuase they charged you a fee- they still charge you the OL fee...ugh.) So if you can avoid the fees consistnatly on a card or two, you're better off then just paying this one and then tha tone and then this one. Also, eventually a card gives up and charges off the amount, effectively ending the cycle. Later on you'l have to go back and pay quit a bit more than you originaly charged on the card, and the charge off will hurt your credit, but honestly if its between that and being homeless-- well obviously you made the right choice. So basically, if you had say 4 cards and only $50 for payments, and there were two cards with $25 payments and two cards with $50 paymetns, you'd be better off staying current on two accounts and letting the others do whatever they are going to do.

Answer 3

You can ask them if they can waive any of the fee's for them, minimum payments normally require 1% of balance, finance charges and late fee's. Credit card companies will call you from alternate numbers that may even be in your same area code as those are tactics collectors use. My advice, call them, tell them you can't afford it and ask what they can do for you.

Answer 4

I don't think bankruptcy wipes out credit card debts anymore. Check the laws in your state.

Answer 5

They are contacting you because they want their money. If you couldnt make the payment you should have contacted them before it was due and talk to them. Most times they are understanding

Answer 6

I suspect that if you don't make the minimum monthly payment they consider you in default. Smaller-than-minimum payments don't count. :-(

Answer 7

Tell them to go to hell.