Credit and lost Job?

Question

I lost my real W2 job in Nov 04. Lived on savings until March 06 where I ended up working part time but under a DBA. I have now lost that job, and am on food stamps. No medicaid because its froze, but am very ill. Used credit cards for dr bills, but now have NO money. MI economy sucks and very hard to find job. Thats the reason for gap in 04 to 06. Will the credit card companies work with me on this? What are some options? That is besides filing bankruptcy.

Answer 1

I am in a very similar situation. I cannot work due to a disability and this has the creditors on a rampage. They do have a right to collect but if you can't pay you can't pay. What can they do? If it unsecured credit, they can try...but probably won't succeed.

I am really concidering the bankruptcy thing for me as an option. My medical bills alone are over 500K. Not many people can pay that anywhere so I feel for your situation. Disability is an option but difficult to get. I have been trying for over 2 years and the case is just now coming up in court

Good luck but don't let them bring you down....things happen :)

Bob Laibach
www.gogreedy.com

Answer 2

I've been in the same situation and I'm sorry to say that they won't work with you that much. They may lower your interest rates, but that's about it. Bottom line is they want their money and they're going to get it one way or another. They could really care less about your situation. I'm not saying that to sound mean...they really don't. They didn't care about mine either. You should call them, though, and tell them your situation and see what they would be willing to do for you. They might be willing to lower your payments.

Good luck!!!