Im so F*cked. credit card issues... HELP

**K.Biz** · 09-22-2007, 03:52 PM

ok so i owe a good amount of money to my credit card company and now that im out north carolina, im not making sh*t, i cant keep up with payments and im gonna be in very very big debt soon if i dont do somthing

now i no u can call thse places that will make an easy payment or somthing for you every month but im sure that destroys ur credit and somehow screws you over in the long run.

has anyone ever been there? im sure they have. and whats some good advice, cause im honestly freaking out of here, and i have no idea what to do. i already cut up my credit cards last month, but the interest is killing me and im getting fees every month and just falling so deep in the hole.

Need advice now. thanks guys

**qualityclrk1** · 09-22-2007, 04:10 PM

call the credit card company and ask them to work w/you........if you've always paid on time, and have used the card, just ask for some help w/the interest rate, and they might lower it to help you.....u probably should make a threat such as "this interest rate is killing me, i have the money to pay the whole thing off now and if i do that i'm going to drop you guys and go to (visa or mastercard), because they're offering me (whatever interest rate you want)...the only problem with me paying you guys off now, is that i want to keep some money back for (whatever reason)....so can you guys work w/me and lower this rate? Or do i need just need to pay you now, and then cancel?

**dece870717** · 09-22-2007, 04:19 PM

I got my credit card stolen this week, bastards took all the credit i had left, called this and that and supposed to get money back soon but shit I really need some money now bad.

**Panzerfaust** · 09-22-2007, 04:36 PM

I have been in this situation for a long time now. I am waiting to be sued or something soon. I dont know what to do.

**ftony** · 09-22-2007, 04:44 PM

I got this from the radio,non-profit org,consolidated credit counseling services,inc 1800-save-me-2, let me know if that helped you...good luck

**Sir Lifts-a-lot** · 09-22-2007, 04:52 PM

Hi, Im Sir Lifts-a-Lot... I went to college. I am still in debt from six years ago. I wasnt able to get a new credit card until I was 26 since my credit was sooooo freaking bad. It takes time but you will be able to pull yourself out of debt eventually. Always remember this they cant take what you dont have.

**K.Biz** · 09-22-2007, 05:44 PM

man thats not what i wanted to hear.... so theres really nothing i can do huh?

**ftony** · 09-22-2007, 05:50 PM

Originally Posted by K.Biz

man thats not what i wanted to hear.... so theres really nothing i can do huh?

I got this from the radio,non-profit org,consolidated credit counseling services,inc 1800-save-me-2, let me know if that helped you...good luck

**Idunno** · 09-22-2007, 06:00 PM

If you call them and make a new arrangement it does not mess up your credit. what messes up your credit is carrying a high balance-limit and not paying on time... prety much anything is better than that

and MOST companies will work with you

**abstrack** · 09-22-2007, 06:40 PM

transfer payments to a new card with a 0% intrest rate for 1yr or a fixed low interest rate of 5% or lower for the life of the balance.

**J-Dogg** · 09-22-2007, 09:28 PM

30% of your credit score is determined by the amount of debt you have, another 30% is determined by how timley you are on your payments. Your credit score is not the biggest factor of your credit....the amount of debt you have is.

I agree with the above poster though, try to transfer the balance, you may have to pay a fee...but it might be worth it. Do the math, run the numbers and see if it saves you money.

Honestly, the only way to solve this is with hard work and smarts. You might just have to suck it up and work 2 jobs to do it. Consider it a lesson learned and dont make the same mistake again.

**taiboxa** · 09-22-2007, 09:32 PM

Originally Posted by dece870717

I got my credit card stolen this week, bastards took all the credit i had left, called this and that and supposed to get money back soon but shit I really need some money now bad.

i think i know who did it.

**buffgator** · 09-22-2007, 10:29 PM

Originally Posted by taiboxa

i think i know who did it.

LOL

**J*U*icEd** · 09-23-2007, 01:10 AM

this is why i will not allow myself to get a credit card right now.... and thank god ive never had one... im already spendin my paychecks before i get them.... lol... if i had a credit card when i was younger, id be soo ****ed right now... ive seen first hand what acouple of my friends have gone thru... it got soo bad for one of my boys i stole his wallet and cut up all his credit cards when he wasn't looking... it's been about a year since i did that, and he thanked me for saving his life pretty much... lol... but as mentioned before transfer the balance to a zero balance card or one with a low fixed rate... they have plenty of those types of cards available... but good luck man!!

**J*U*icEd** · 09-23-2007, 01:15 AM

there are many ways to get your payments significantly lowered each month... you just gotta weigh ur options and find whats best and most conveinient for you... you might wana go see a credit counselor or just do the legwork yourself... but best of luck anyway!... keep ur head up... it will all work out, trust me...

**QuieTSToRM33** · 09-23-2007, 10:40 AM

Originally Posted by muriloninja

I have been in this situation for a long time now. I am waiting to be sued or something soon. I dont know what to do.

You aren't the only one.

**Odpierdol_sie!** · 09-23-2007, 10:47 AM

I have been in a simmilar position, sont dispair mate, keep your head up. at the end of the day if you get a bad rating so be it, all that is is a number on a piece of paper. Dont let this effect your health, stress is the worrier.

Get some advice off a non profit orgaisation, im sure there are many round if you look.

Im still not in teh clear, but im better off than i was last month, ive been like that for the last 18 months, it gets better with time.

One thing do if you do nothing else, call your creditors and tell them the situation you are in.
If they dont want to play ball and help you, **** em, you did your bit if i goes to court that will go in your favour.

**magic32** · 09-23-2007, 12:36 PM

As long as your credit is still good, open a 0% interest card and transfer the balance. Now you can pay principal only WITHOUT INTEREST. Be sure to note your zero introduction expiration date, and if you're credit is still not paid down when it approaches, repeat the process. It's the single best way to eliminate debt w/o wasting money on interest (low or high).

**Tock** · 09-24-2007, 07:58 PM

Keep in mind there is no such thing as "Debtor's Prison." There are, however, laws against credit card fraud, and you don't want to run afoul of them.

If you're significantly and hopelessly in debt, you might consider paying on one or two cards, and defaulting on the rest. Before you do, you need to find out how many minimum monthly payments you have to send in, so that you can't be charged with credit card fraud.

A friend of mine went nuts (long story) and filled out every credit card application that the banks sent him for a few years. He then proceeded to run every last one of them up to the limit. Then when he realized he couldn't ever pay them all off, he tried the credit counseling service (a rip-off), and consulted a bankruptcy lawyer (couldn't afford his fee). So, he did nothing. Except . . . he kept paying on his car note and 4 of his credit cards. He tore up all his other cards, and made 6 minimum monthly payments on the rest (that's what you had to pay in Texas to avoid credit card fraud--less than that, and the courts figure you bought the item with no intent to pay, which is theft).

He eventually defaulted on 44 credit cards, each with about $3000. Of course, the bill collectors were rude and persistant, but he discovered ways to deal with them (essentially, learn the federal and state laws governing bill collectors, and hold them to those laws). Only two of the companies took his debt to court, and all that happened was the court sent him a note saying, "You gotta pay these people," which he didn't. And one time, a company got a court order letting them in his apartment to seize the stuff he bought on their credit card (silverware).

It took a few years, but eventually the bill collectors quit sending him nasty notes in the mail (which he quickly learned to ignore). And the four credit cards he kept never quit working. And he kept his car. And, when it came time to trade his car in a few years later, he got the car loan without a problem.

So . . . take some time to find out what the credit laws are in your state (maybe pay a lawyer $200 who knows about these things to show you what to do) so you don't run afoul of any laws, and then do what my pal did.

Just a thought.

**BadBenny** · 09-25-2007, 07:26 PM

If your credit is already ruined just go bankrupt. If not call the card companies and give them a song and dance and tell them if they do not stop hitting you with the interest you will be forced to go bankrupt.

**Tock** · 09-25-2007, 07:42 PM

Originally Posted by BadBenny

If your credit is already ruined just go bankrupt.

Problem there is that if you go bankrupt, then you'll have that on your credit history forever. Whenever you fill out a credit application, they'll ask,
"(o) YES (o) NO -- Have you ever filed for bankruptcy?"
. . . and you'll always have to answer YES. Plus, if you get a loan after filing bankruptcy, then if you don't pay that debt, then they can throw you in jail.
On the other hand, if you simply default on your debt, then they can only blackball you for 7 years, and then you're home free.

I can't say that I have much sympathy for the credit card companies. They charge as much as 41% interest (maybe more, I dunno), and they send out applications to every Tom, Dick, and Harry with an address, whether they have a job or not, whether they even alive or not. If they do such a poor job looking for customers, then they're asking -- pleading -- to be ripped off.
Be that as it may, I heartily recommend that everyone pay their debts; I don't approve of slackers and rip-off artists. But sometimes things come up, like robberies, or heart transplant operations, or some idiot thug mistakes you for "Guido" and chops off a leg, and you incurr medical expenses, or you lose your job, or whatever. In those cases, depending on what state you live in, it may be simpler, cheaper, quicker, and better just to default on your debt than to put yourself through Hell trying to pay things off, and then you'll end up with 7 years of bad credit anyway for being a "slow pay."

**305GUY** · 09-25-2007, 08:50 PM

Originally Posted by QuieTSToRM33

You aren't the only one.

you got that right

**BadBenny** · 09-26-2007, 06:02 AM

In 1998 i was a victim of identity theft, the Credit Card companies could give a Ratz Azz too. The Feds even apprehended the people who did it, as i was one of many. All they did was deport them back to Romania.
Anyway they rang up a total of 125K worth of goods, they opened up all new accounts in another state as well.
I had no idea until one of the Credit Card companies finally hunted me down at my job no less, they must have went to the IRS and found out were i worked.
The CC companies were after me like i did it, they would not listen, did not care to listen, they wanted their money. I was forced to get an attorney, he told me my only option was to file bankruptcy, and file it for a couple reasons, mainly though because we had no idea of what else those azzholes did with my information. Good thing too because in 2004 i had a letter come to work and they were attaching my paycheck from Chase. Anyway i told them i went Bankrupt and to go to he||, 5 years after they tried to get me though. A greedy lawyer buying a dead account, i laughed at him too, got just what he deserved.
The Federal Government, ya rite, they are the biggest joke of all!!! THEY KNEW I WAS VICTIM OF IDENTITY THEFT AND STILL WOULD NOT ISSUE ME A NEW SOCIAL SECURITY NUMBER!!!
So after i went Bankrupt it took a year, then i received a few high interest cards to restore my credit, always used them just never kept a balance.
Now here i am 2007, clean of Bankrupt, my Credit Score from Experian is 795, i have two homes, a two family i rent out, my own 2500SQFT home, a 2004 BMW 530, and i just purchased a new 2008 Rang Rover.
I monitor my credit on a regular basis, and if i ever fill out an application that asks about bankruptcy i answer yes, they only go by your Credit Score....
My Bankruptcy was discharged Jan 18 2006. It also has been completely removed from all 3 of the major reporting credit bureaus, Experian, Equifax, and TransUnion.
DON'T MAKE YOU LIFE MISERABLE... If it is that back take the amville off of your chest, get an attorney and talk about your options. You can by first reading this http://www.uscourts.gov/bankruptcyco...s/process.html

BTW i am willing to bet that there are 0 people in jail from a double bankruptcy.

Originally Posted by Tock

Problem there is that if you go bankrupt, then you'll have that on your credit history forever. Whenever you fill out a credit application, they'll ask,
"(o) YES (o) NO -- Have you ever filed for bankruptcy?"
. . . and you'll always have to answer YES. Plus, if you get a loan after filing bankruptcy, then if you don't pay that debt, then they can throw you in jail.
On the other hand, if you simply default on your debt, then they can only blackball you for 7 years, and then you're home free.

I can't say that I have much sympathy for the credit card companies. They charge as much as 41% interest (maybe more, I dunno), and they send out applications to every Tom, Dick, and Harry with an address, whether they have a job or not, whether they even alive or not. If they do such a poor job looking for customers, then they're asking -- pleading -- to be ripped off.
Be that as it may, I heartily recommend that everyone pay their debts; I don't approve of slackers and rip-off artists. But sometimes things come up, like robberies, or heart transplant operations, or some idiot thug mistakes you for "Guido" and chops off a leg, and you incurr medical expenses, or you lose your job, or whatever. In those cases, depending on what state you live in, it may be simpler, cheaper, quicker, and better just to default on your debt than to put yourself through Hell trying to pay things off, and then you'll end up with 7 years of bad credit anyway for being a "slow pay."

**Stock** · 09-26-2007, 08:13 AM

Call all of your credit card companies and let them know that you had to relocate due to family issues or some other circumstance, and you are unable to keep up with the monthly payments due to the interest rate and fees. Mention that you are considering talking to a bankruptsy attorney, this might make them decrease the payment and/or interest rate. Also tell them that you have called the other companies and a few of them have agreed to lower the rate and knock off some interest that has been charged and you feel obliged to pay the ones that are working with you first and what ever is left over will be split among the rest. Make them believe that you want to work with them, but cant due to your present circumstances. Right now wiht all the stuff that is going on in the economy, the last thnig they need is for you to quit paying. YOu must make them believe that you had somehting bad happen, lost job, death in family, etc. for this to work. DO NOT CALL the credit repair companies, they will make your credit worse. I work in the financial field, and if you have any specific questions or you want to know how to repair bad credit, PM me...