Below is my original post of April 26th when I responded on Blackbeast thread 'my journey begins today'. These are my debts and I will chronicle my attempts at settlement.
I have Citi 1-- 18k
Citi 2-- 18 k
Bof A --40 k
Right now I am 18 days late on one citi and 36 days late on the other.
I am current on the other two but will be late as of May.
Citi has called about 13 times a day. I talk to them about once a week and tell them the same thing. I have 2 mortgages, one very new and no equity and the other I am upside down on. Cars are 18 years old. I took a $12 hour pay cut and no longer get overtime.
They want me to go on a pymt plan but I hope to settle, has not been mentioned yet.
I will post updates. Ask any questions and I will try to answer. it looks like we are about on the same timeframe...
To add to the above, I was laid off last year for 4 months then came back at $12 hour less and no overtime. In the summer some balance transfers expired, all 4 cards raised rate to 29% with never a late pymt. and always paying more than minimum. Chase doubled percentage of what was due meaning my pymt. doubled and they all decreased my available credit.
The best way to picture it is that last summer had I only been paying minimum due my pymts would have been $1500 but I paid $2500 every month spread over all 4 cards. Now I can afford exactly $1500 for credit card debt but my minimum would be $4000.
I am still getting many calls but just stick to my story and although it drives me crazy I just bear with it...
thanks for listening.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.