NotSoGoodAtProSe Posted April 20, 2009 Report Share Posted April 20, 2009 What's the best plan if you can no longer make your card payment due to being unemployed? My friend lost his job last year, he has been able to make the payments up till now. what is the best way to try to stay afloat or survive till he get's a new job? Link to comment Share on other sites More sharing options...
OU812B4 Posted April 20, 2009 Report Share Posted April 20, 2009 Sometimes the CC companies are willing to reduce or even suspend the monthly payments. Have him call and ask what his options are. If his account is current, they may tell him he doesn't qualify. If that happens, stop paying them for 30 -60 days and call again. If the CC company won't help, the only other option is to not pay them and defend himself from the CA's. He has to worry about the basic necessities of life, keeping a roof over his head, food on the table etc. Link to comment Share on other sites More sharing options...
NotSoGoodAtProSe Posted April 20, 2009 Author Report Share Posted April 20, 2009 I though it might help to get a head start on things. They have already up his rate double what it was, he has never been late on any of his cards. he pays extra on them every month. it's just not fair that they can do that.Thanks! Link to comment Share on other sites More sharing options...
admin Posted April 20, 2009 Report Share Posted April 20, 2009 Try reading this.... Link to comment Share on other sites More sharing options...
NotSoGoodAtProSe Posted April 20, 2009 Author Report Share Posted April 20, 2009 Try reading this....I don't see a link. Link to comment Share on other sites More sharing options...
Naval50 Posted April 20, 2009 Report Share Posted April 20, 2009 Maybe there isn't suppose to be a link, but I'm sure "admin" will correct that later. Link to comment Share on other sites More sharing options...
NotSoGoodAtProSe Posted April 20, 2009 Author Report Share Posted April 20, 2009 I'm not sure I know what she meant by, Try reading this... Link to comment Share on other sites More sharing options...
DebtLawRookie Posted April 20, 2009 Report Share Posted April 20, 2009 There is no best plan....not making money = no money to make payments, plain and simple. Over time, if payments continue to not be paid, things will play out and the debtor must decide on an end result strategy. Bankruptcy is an option if everything is taken into account such as the assets owned and which type of BK (a BK 7 or a BK 13, in which a 13 isnt possible w/o a job), along with the debtors willingness to file....learn about and weigh ALL options before thinking of filing a BK.Research the statutes of limitations for the debtors state along with other applicable laws which may come in handy if a lawsuit is eventually filed. Link to comment Share on other sites More sharing options...
NotSoGoodAtProSe Posted April 21, 2009 Author Report Share Posted April 21, 2009 I figured there would be no easy way to deal with this. Thanks for taking the time to answer.I guess we will see how it go's. Link to comment Share on other sites More sharing options...
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