Jump to content

What are my options?


just want out
 Share

Recommended Posts

I have a CC with Discooover. My initial credit limit was $5000.00. I now owe $9500.00. The majority of the overage is over the limit fees, additional interest and late payment fees. I established this account 10 years ago and its my only CC.

I do not dispute my debt however - I now only have a part time income (hours reduced) and am behind in payments by about 4 months.

I have called, e-mailed, and written requests for some type of relief. I will never get a handle on this when the compounding monthly fees outweigh what I am paying. I send what I can.

I am trying desperately for them to make an arrangement and they won't. They have their own internal collection and legal dept. (don't write off or send to other collectors.)

Does anyone have any ideas on how I can press a payment agreement with them without them filing a judgment against me???

Link to comment
Share on other sites

When you are dealing with an OC, you need lump sum cash in order to settle. If you don't have that, your best option is just to not pay.

Don't make partial payments, this could restart the clock.

Here's an example of what to do and what the time line is:

http://www.creditinfocenter.com/bankruptcy/dont-qualify-for-bankruptcy.shtml

Link to comment
Share on other sites

I will never get a handle on this when the compounding monthly fees outweigh what I am paying. I send what I can.

Like Kristy said, don't pay. Because you've been paying, they figure if they just exert a little more pressure, you'll find a way by taking another job to make the monthly payment, borrowing from family, robbing a bank, or whatever.

If you stop paying, and don't pay 'em for a few months, you'll get some relief, they might realize the well is dry and it's time to cut bait, and you'll have some time to reassess things.

What's the DOFD?

When did you last pay?

If you haven't clicked on the link Kristy provided, do it. Read it. All of it. Re-read it.

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.