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Question about minimum payment.


rikyric
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My personal suggestion, get all your bills togeather and see if you can pay them with your credit card. Grocaries , gas , utilities, EVERYTHING. Then take your cash and put it all into the card with the exception or rent or mortgage. You have to try to get the balance cut down and start being a credit card free loader. As far as the late payment once you get caught up I believe you can legally ask the credit card company to reage your account and that'll knock out the late payments. But from this point on the main thing is getting the card paid off and down as much as possible. The only thing about paying the lesser amount is they may say you are in default and suspend privilages , which is what you do not want

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Yes, if you do not make at least the minimum payment according to your cardholder agreement they will hold it against you, even if you pay it on time. I would beg, borrow or steal to make the payment because you certainly don't want that to go on your report.

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Hot_Leila

Edited by kevin3344
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I agree with Kevin. I went through the whole issue of going into default after losing a job and you do not want to have to deal with collection agancies , especially during the time period before things go SOL. Luckily for me I wasnt crazy enough to end up filing bankrupty and thanks to this site and others i'm getting back on track. Do what ever you have to do to get caught up and I also suggest investing in either MS Money or Quicken so you can have an understanding of what you have coming in and going out. Establishing a strict budget is critical at this point

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