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anyone tried this before?

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    #1

    anyone tried this before?

    i was thinking of calling my cc's since i can't pay this month, and explaining the situation (well not telling them i'm thinking of filing) and asking to skip a month, maybe 2 months payment while DH is still looking for work. that way i can get all of my ducks in a row, without having to deal with them calling for payment daily. anyone had any luck with this???
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    #2
    They will work with you in as much as they will ramp up your interest to the highest allowable by law and charge you late fees. If it were a car, sometimes they will defer a payment or two, but unsecured creditors want their money every month or they get testy. I would scrape together the minimum payment or just accept that they are gonna screw ya on interest and penalties. You might be able to talk them outa the penalties if you have a spotless payment record and if you beg enough you might be able to talk them back down on the interest, but going into the phone call I wouldn't expect anything.

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      #3
      Hmm well it was just a thought....Min pymts total $1700 all together and that's just not going to happen this month.

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        #4
        Yes I did it..with Citi on two of their cards. They were very gracious and let me slide for 2 months with no interest (both cards had 0% anyway). Now starting this week that two months will be up and I wont beable to pay so Im sure a couple of things will happen. More phone calls and they will hike my interest rate from 0% to God knows what and will probably also charge for the last two month as tho it never happened.
        I called B of A also and tried talking to them...they gave me the number of a debt service they liked. I told them I had no money to pay them so how can I pay a debt service. They basically said ok too bad...my interest on that card alone is 650.00 a month. No turning back now....

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          #5
          It's outrageous the amount of interest they're allowed to charge - that's what got me into trouble. 30% - that's usury!

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            #6
            Originally posted by howdidithappen View Post
            It's outrageous the amount of interest they're allowed to charge - that's what got me into trouble. 30% - that's usury!
            Credit cards are almost like those title loan places.

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              #7
              Hi,

              I tried that at the begining of the year, before BK was EVER a thought. I called my highest card, Chase, and tried to talk them into lowering the min payment. The gentleman was very nice and referred me to a debt management company. When the Debt Management couldn't do anything for me (my interest rates were 0%, 7% and 9.9%, pretty low), I called Chase back. I was basically crying, just asking them to lower the $500 minimum payment (my minimum cc payments totaled appox $1,500 per month and I was TRYING to get the total payments under $1000, that's all I could afford at the time), well, I got a supervisior on the phone and he was a total jerk and said he couldn't do anything for me. I went from being a perfect customer (never late on anything) to filing for BK....I don't feel bad, I tried EVERYTHING I could to work out something with my creditors. Now that I've retained an attorney, the CC really want to work something out...yeah, right....
              May 2008 Hired 1st Attorney/Stopped paying CCs
              May 21, 2009 Retained 2nd Attorney
              May 28th - Filed for Ch 7 (FINALLY!)
              9/11/09 - DISCHARGED!!!!

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                #8
                I guess the ole adage....better late than never doesnt

                Originally posted by liz417 View Post
                Hi,

                I tried that at the begining of the year, before BK was EVER a thought. I called my highest card, Chase, and tried to talk them into lowering the min payment. The gentleman was very nice and referred me to a debt management company. When the Debt Management couldn't do anything for me (my interest rates were 0%, 7% and 9.9%, pretty low), I called Chase back. I was basically crying, just asking them to lower the $500 minimum payment (my minimum cc payments totaled appox $1,500 per month and I was TRYING to get the total payments under $1000, that's all I could afford at the time), well, I got a supervisior on the phone and he was a total jerk and said he couldn't do anything for me. I went from being a perfect customer (never late on anything) to filing for BK....I don't feel bad, I tried EVERYTHING I could to work out something with my creditors. Now that I've retained an attorney, the CC really want to work something out...yeah, right....
                work for the cc. companies (and doesnt work with the cc. companies either)

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