I do not have enough money to pay it.
2007-03-06 00:05:27 · 6 answers · asked by winndy 2 in Business & Finance ➔ Personal Finance
I'd suggest talking to a debt consolidator to work out a functional repayment plan you can afford.
Otherwise, the collection agency will send Bubba and Vinnie to confiscate your computer and valuables.
2007-03-06 00:15:26 · answer #1 · answered by pepper 7 · 1⤊ 0⤋
You mean you won't pay anything on the debt? Well, what's going to happen is that the bill will go to collection and then you will get one phone call about it every day until someone decides that you're really not going to pay and then the bill will turn into a charge off on your credit report. After that happens it will stay on your credit report from 8-10 years and you will have a hard time getting any other forms of credit because of not paying this bill at all.
You might want to call the credit card company and tell them that you are unable to pay the large payment that are asking you to pay because of your fixed income and see if you can pay $20 a month if you surrender the card and they stop charging you interest on the balance. It's worth a shot.
2007-03-06 08:13:04 · answer #2 · answered by annazzz1966 6 · 1⤊ 0⤋
There are people you can turn to for help. Before we realized what was happening, my grandmother - widowed and living on a fixed income - had developed an addiction to the home shopping network and had rang up 30k in credit card debt. My mother and aunts found a counselor to work with her (I think it was through the counsel on aging or something like that) and work out a plan for her. I wish I could give you more information about who to contact but at least know that there are people out there that can help you.
2007-03-06 08:34:30 · answer #3 · answered by Sunidaze 7 · 0⤊ 0⤋
Call the credit card company(s) and let them know your situation so that you can stop the compound interest payments first. You're going to have to work out a payment arrangement or settlement.
you want to work on this sooner than later. you will be fine! congratulations on taking the first step by asking the question.
2007-03-06 08:10:03 · answer #4 · answered by Anonymous · 1⤊ 0⤋
if you own your home or still have a mortgage on it. you can either refinance or take out equity on your home. send me an email if you would like more information.
2007-03-06 10:55:59 · answer #5 · answered by cmruffin1 2 · 0⤊ 0⤋
contact with credit companies,,, and inform them your situation.and you must start work.... don't depend just social security ,if you not work or not pay your credit...... you will be in deep crises....... so my dear ..... get up and start to find a Job.... any Job ,,,, in beginning .... just start earn money and warm up.... then look for better Job...... you can do it.... dear ..just do it.........
2007-03-06 08:16:40 · answer #6 · answered by Anonymous · 1⤊ 1⤋