Comments on: Reader Question: Credit Card Hardship

By: Jim@creditloss

Jim@creditloss — Tue, 24 Aug 2010 03:09:26 +0000

I suggest you always check out any program that’s willing to help you out so you don’t end up getting took for even more money.

By: David Digney

David Digney — Thu, 08 Oct 2009 13:50:14 +0000

I’ve contacted all,but 3 of my credit card issuers.I have told them,my wife is out of work,i own a business that is seasonal right now,and i do have a heart condition for life…..

The companies i am dealing with reduced credit interest from 18% to 6%,and even 3.99%…

in 3 1/2 years,i’ll be $20,000 lower in debt

By: Ann

Ann — Tue, 01 Sep 2009 21:10:10 +0000

A credit card’s disadvantage is that, it becomes easy for us to use it and run up into a large balance. Then when it comes time to even pay partial payments it can be very difficult to make those payments. Add to that the finance charges and people with credit cards can run up large debts that they sometimes never recover from.

By: Anonymous

Anonymous — Sat, 18 Jul 2009 20:06:20 +0000

1. What is the difference betweem a CCCS and trying to get a hardship reduced rate.
2. How does each of them impact your credit score if any? 3. Does a CCCS program come after any assets you might have like a boat, or a property?
4. Where do I find a trusted CCCS company to work with?

Thanks.

P.S. Yes, I have CC Debt.

By: Bev

Bev — Wed, 27 May 2009 14:30:18 +0000

Thank you for the tip about the caps. I do not own a home I live in government subsidized housing and that is still difficult to handle and as far as getting ajob I don’t know where you are but unemployment is at an all time high here and sadly when they find out my age, it is never said of course, but it is a factor.
Thank you again for you help and I will certainly look into the list you gave me.

By: Stephanie

Stephanie — Mon, 25 May 2009 16:33:02 +0000

Bev, we would like to help you, but I have to please ask you not to write in all caps. On the internet, writing in all caps is considered “shouting” and is also considered very rude. I know you mean well, but for future reference, please do not shout.

I know this may be hard to hear, but it sounds like you need to find another source of income. At a certain point, if you’ve cut all your costs down to the bone and you’re still having trouble making all your payments, the only option is to find a way to bring in more money. Perhaps there is a side business you could start out of your home? Here is a list of 50 Side Businesses You Can Start On Your Own. Maybe one of them is something you can do – be sure to also read the comments (there are 100 of them!) because people have posted some good ideas in there. Good luck to you.

By: Bev

Bev — Mon, 25 May 2009 15:12:01 +0000

I FOUND THIS SITE BECAUSE I AM DESPERATE. I AM 64 YEARS OLD AND MY ONLY INCOME IS SS AND THAT AMOUNT IS 701.00 A MONTH. OUT OF THAT MY MEDICAL IS 268.89 A MONTH. I HAVE MYSELF IN SUCH A MESS WITH CREDIT CARDS AND NOW I CAN’T PAY THEM. ONE HAS ME IN COLLECTION AND I TRY TO SEND THEM 25.00 AMONTH. I ALSO HAVE TWO THAT I CAN MAKE MINIMUM PAYMENTS TO BUT I HAVE 3 STORE CARDS AND ONE CAPITAL ONE CARD AND THE TOTLAS COME OVER $5,OOO AND I JUST CAN’T PAY THEM. I HAVE ALREADY FILED BANRUPTCY ONCE FIVE YEARS AGO AND I CAN’T DO IT AGAIN. WHAT CAN I DO? ANY SUGGESTIONS WILL BE GREATLY APPRECIATED.
THANK YOU

By: Dee

Dee — Thu, 18 Dec 2008 21:29:40 +0000

I’m trying to decide if the State Credit Card Emergency declaration is a good thing or bad thing in the long run.
I own a home with resale stipulations (don’t ever do it!) I’ve worked hard, but now hard work doesn’t cover things.
Please explain the hidden print on this deal and what it will do to the credit I want to keep for future real estate and better times.
Thanks for your response!

By: Stephanie

Stephanie — Mon, 05 Mar 2007 23:01:00 +0000

Anon: It's probably going to be a while before you're approved for a low interest credit card, that's why I didn't mention it in the post. The best thing you can do it pull your credit report every 4 months (since you get one free from each of the 3 credit reporting agencies once a year, so pull just one of them every 4 months) and monitor your credit that way. Keep making all the payments you've agreed to, and in time, your credit will improve.

As far as the cell phone goes, you may have to settle for pre-paid or pay-as-you-go, which have no contracts and therefore, no credit checks.

Try and look for ways to pay down your debts as quickly as possible. I know you're still in school, and paying attention to your studies is very, very important, but if there's any way you can make some extra money, you might try to look into it. Do you have anything you can sell on ebay? Do you have a part-time job? If you do, can you pick up extra hours?

When you come close to paying off one of the cards, call the credit card company and tell them you have the money to completely pay it off, and ask if they'll remove the mark from your credit report if you send them the check today (obviously, you actually have to have the money for this). It might work, it might not, but you won't know until you ask. Do this for each card.

By: d

Mon, 05 Mar 2007 22:51:00 +0000

After being in a hardship program and showing committment that you are able to keep up with the payments again, can you have them open up the accounts again? My problem is that most of my accounts are closed and its hard for me to get another credit card approval.