Now they are all wanting to work with me.

[Jackdog]

I'm going to file sometime this summer unless a lawsuit pops up and pushes me into it sooner. Most of my cards are 3-4 years since last charge, and a horrible personal loan for 7k with Beneficial Finance. This month was the first month I didn't pay any of them (Discover I'm now two months behind) I'm worried but I was living a life for so many years where it came down to paying bills I should of (mortgage power water basics) and putting groceries in the fridge vs cc's. The cc's always won. I have never been more than a few days late on my debt which has caused most of them to jack my rate up to 29.99% interest. All of them in the past I've called begging them to work with me (I know this debt is all my own doing) but I'd ask for some type of break on the interest rate to which I always got a big fat no. Now not even a month late on the bills some of them are calling telling me they will lower the rate for six months to a pretty reasonable amount. It would still be something that wouldn't help me now it's gotten to the point where BK is my only option. I just don't get it. I begged them for years to do this. I was struggling every month but made my payments when I was a day late I ate the late fees and ate the interest hikes and paid. Now they want to work with me? It makes me angry (like I said I know this debt is my fault) but why now? Why now and not when I was willing to suck it up and continue living in poverty basically just to make the monthly payments they required. My boyfriend and I went to lunch yesterday something we haven't done in about a year. It wasn't anywhere fancy under 20 dollars but it's something we've been missing out on for a long time. Just things you take for granted.
I just find it really ironic that less than a month late now they are wanting to work with me.
Just wanted to vent.

[DeadManCrawling]

Simple answer:

They STILL don't care about you or your situation.

They know full well that you cannot pay, and will likely file BK. But, they want to shake loose as many dollars from you before you get to that point. They are interested only in the dollars-nothing else.

So many people carry the illusion that "I can get out of this", that the lenders further prey on these folks by offering these sorts of "deals" once you stop paying. It is all smoke and mirrors. They do not really believe you will fully pay them back, and they do not really care.

But if they can convince you to give them that 20 bucks instead of having dinner, they consider that a victory.

Some even suggest things like "Don't pay your mortgage, send that money to us" or "you can buy cheaper or less food". It really is disgusting, and has no relation to any sort of compassion toward you.

They are cold, calculating, and ruthless from start to finish. Their sole reason for existing is to take money from you. And they will employ any tactic that might work.

[forgotten]

I just don't get it. I begged them for years to do this. I was struggling every month but made my payments when I was a day late I ate the late fees and ate the interest hikes and paid. Now they want to work with me? It makes me angry (like I said I know this debt is my fault) but why now?

You just answered your own question. You made the payments they wanted for years, paying the late fees and interest charges.

They made more money off you from that and the tax writeoff they will receive on your inflated balance when you file BK than they would have it they had worked with you years ago.

Once it is obvious that you are done paying only then will they "work with you" to try and bleed some extra money out of you. It is only after it is obvious you have given up paying your bill that it makes financial sense for them to try and work you.

If you had a $20,000 credit card balance and were paying the minimum and a 30% default APR for 3 years you would have paid $18k in interest and still owed just about the same $20,000.

Now you stop paying for 6 months, your balance it now ~$24,000. Even if you file a CH7 they now have a $24k tax writeoff for a bad debt and collected $18k in interest all on your original $20k balance (combine that with fractional banking, where banks lend out more money than they have, and its a really good racket).

If they would have worked with you 3 years ago and lowered your interest rate to 6% they only would have collected $3600 in interest, and there is a chance you would default eventually anyway.