a friend of mine got fired from work for frequently reporting late to work. Now he is faced with credit card bills totaling $5000. He has $0 in the bank, because for 7 weeks he has not been able to find work.
He writes letters and mails them to his credit card companies, saying that he is unemployed so they give him some extra time to pay, but none of his credit card companies ever replied back to his letters and still continue mailing him his statements with payment deadlines.
2007-11-01 21:44:26 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
Your friend is doing the correct procedure by writing the creditors however, two additional measures need to take place.
First he needs to make sure he is not sending the letter to the same address as he would the bill. There are different departments that handle things. He needs to call the number on the bill and ask for the address and phone number of the department that handles hardships.
Secondly he should make the letter as official looking as possible. Typed out not hand written, address etc. listed on the letter. Tell the company that you are going through a hardship, you intend on paying your debt but recently became unemployed and do not have the funds to make a payment at this time.
By law, they are suppose to reply back to you within a certain time frame, I believe it's two weeks from receipt of the letter. This means your friend needs to send the letter to the correct address via registered or some method of signature receipt.
Keep copies of the letters and the post office receipts. Track the dates the creditors signed for the letters. He should get a response in writing within a few weeks. If he doesn't, he may wish to consult his States Attorney Generals office for assistance. These people work for consumers and it doesn't cost anything. They are kind of the States consumer watch dog.
DON'T FILE FOR BANKRUPTCY!
2007-11-01 22:00:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
When the guy is unemployed how can the recovery be possible?? Even when it appears in Court, I don't think that the credit card companies would be winning the case. If the credit card bills keeps coming, it is the due fault of the companies by not checking his credentials.
2007-11-01 21:48:46 · answer #2 · answered by JANARVIHARAN 3 · 0⤊ 0⤋
I am sure there is something he can do while looking for a full time job. A lot of places are hiring right now gearing up for the Christmas season. It sounds to me like he isn't trying too hard. He got fired for being late repeatedly, so it doesn't sound like he takes much of his responsibilities in life seriously.
Why should the credit card companies let him slide when the rest of us who get our tails out of bed and to work on time aren't granted special treatment?
He should get his act together soon because the late fees on the credit cards will pile up in a BIG hurry. And if those end up pushing him over his limit, they will add on "over the limit" fees on top of that.
2007-11-02 07:26:27 · answer #3 · answered by HEATHER 6 · 0⤊ 1⤋
Be this guy's friend and give him the emotional encouragement he sorely needs....even help him find a job that can get him back on his feet. Help keep your friend from sinking into depression.
In cases like these, paying a little extra for that "unemployment insurance" for credit card service isn't a bad option.
He might also check into signing up with one of those free legal clinics to begin filing for bankruptcy--a tough choice, but one that appears necessary.
Everyone goes through some dark times in the course of their lives.....but eventually, the light does return. Remind your friend of this whenever possible.
2007-11-01 21:53:57 · answer #4 · answered by Mr. Wizard 7 · 0⤊ 1⤋
They don't care that he is unemployed.
He can sign up for a temp service to earn money until he finds something permeate.
As for paying the bills nothing he can do about that now. They will eventually close his account. When he is employed just start paying the bills and pay them off so his credit isn't damaged more than it already will be.
Tell him always go to work and go on time daily.
2007-11-02 01:56:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋
cant he get unemployment? Hes doing the right thing
2007-11-01 21:47:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
WOW! SAME HER BABY< BUT I CUT THEM TEHM ALL IN HALF:)
2007-11-01 21:58:51 · answer #7 · answered by Fix It 1 · 0⤊ 0⤋
www.creditinfocenter.com
buddhibbs.com
I'd say let them harass him so he can sue them back
2007-11-02 05:12:45 · answer #8 · answered by Anonymous · 0⤊ 0⤋