lmurphy Posted September 1, 2007 Report Share Posted September 1, 2007 A bankruptcy from 10 years ago has just fallen off my credit score and I was in great shape, then, I lost my job. I've secured another one, but, I am now 30 days behind on a medical loan from Capital One that is $643 a month. There is no way that I can continue to make this monthly payment and keep up with my first, and second mortgage, plus my other ccredit cards and car payment. My house is for sale and my concern is securing a home loan in the next couple of years, if I let this debt go. I have nothing else on my credit report that is past due, not one thing. The debt is for 15K. I've called them already and asked them to lower their interest rate, take less money each month, etc, they will do nothing for me right now. Should I make a payment each month for less than the $643 and/or will it matter? From my bankruptcy experience 10 years ago, it stayed on my report longer, if I tried to make some type of payment. Any suggestions on how to handle this, before it gets into collections??? I'm also concerned that since I have other credit cards with capital one, they will raise my interest rate, due to my falling behind on one of their cards. If this occurs, I can slowly, but, surely pay them off, my big concern is a over 150 day on my credit, how bad would it be and would they sue? Also, could I get a home loan with just that one thing on my report?? Link to comment Share on other sites More sharing options...
lmurphy Posted September 1, 2007 Author Report Share Posted September 1, 2007 I just looked at my statement and capitol one did not finance this surgery. It was CIT Bank and I can't find anything out about them on the internet. Has anyone heard of them, they are in oklahoma city, ok. Link to comment Share on other sites More sharing options...
bd50 Posted September 3, 2007 Report Share Posted September 3, 2007 haven't heard of CIT bank,, but when you do find contact info on them,, call and try to speak to a higher up and explain your situation.. maybe if they can assist with reducing your monthly payment of 640,, so that you don't default on it.if a smart 'higher up' person were to hear from you that you would have "no choice but to stop paying the debt at that amount", OR getting assistance with lowering the payment,, chances are they will opt for helping you out in order to keep you paying something.good luck** found the CIT site for you:http://www.cit.com/main/home Link to comment Share on other sites More sharing options...
bd50 Posted September 3, 2007 Report Share Posted September 3, 2007 here is the link:http://www.cit.com/main/home Link to comment Share on other sites More sharing options...
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