Jump to content

Need advice...90 days past due...No $$.....what to do?


boosoo
 Share

Recommended Posts

I'm sure this has been asked several times. I am needing some guidance. I am 90 past on 5 CC accounts. My total balance is 9500 between all of them. I am getting tons of letters and calls from the creditors. I lost my job a few months ago and just started working again last month. I looked into the DMP plans, however they wanted $300 to $400 immediately just to start them, to pay the first months payments. I am desperately needing to start some program before these get charged off, however I will not be able to make any payments for 3 weeks (being as I have to pay day to day living and rent). I don't believe you can start a DMP with nothing down. Any help would be greatly appreciated? Desperate and stressed.

Link to comment
Share on other sites

I would call them and tell them that I lost my job, just got a new one and I can give you $10 today, and will give you more in 3 weeks. Break down and cry on the phone if you need to. Just work things out the best you can with them and then after a few months, go back and write a goodwill letter to try and take off the late fees. I bet the cc companies are much easier to work with than the CA's will ever be. Good luck.

Link to comment
Share on other sites

Save all the letters. There may be a violation or two in them that you can consider later.

For non-CA accounts, write a letter to the CEO of the organization giving them your plight and ask them for theit goodwill in this period of your hardship. Tell them that while you are uncertain you can pay everyone what they want now, you want to work with those who will work with you. Give them a dollar figure you can pay each week/month for the next 9 months. In return, ask them to:

a. forgive <=$500

b. lower/suspend APR on credit accounts for 6 months

c. reage your account with the CRAs

You will likely get contacted by the executive office and these people can sometimes offer you a hardship plan.

With CAs, DV and fight

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.