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Hello! My husband earns a decent salary. I use to handle Our money and paying the bills. Although we never had much left over. the bills did get paid. In 2000, I got ill, became disabled and my husband took over the finances. He was never very good with money and as the saying goes, " It burnt a hole in his pocket." He would get these pre-approved credit card offers in the mail and accept them. Last year, he finally came clean with me. He is maxed out on all of them to a tune of $30,000. I have tried so hard to make the monthly payments, but its not happening. My husband has tried to take responsibility for what he's done by working as much overtime as he can get( roughly 70-80 hours a week). He's 61years old and his health is starting to slip. I have called most of our creditors, trying to work with them, by either asking them to lower our payments, drop interest rates from 31.99%, or possible reducing our balances. I have been successful with only 1 creditor. I told them I do not want to file bankruptcy, begging them for an alternative. Can anyone suggest to me, What I am doing wrong? How do I get them to work with me? Thanks, Pam

Hello Pam,

I really appreciate your courage. It is really great on your part to go alone and try to become debt free by following Do It Yourself Policy. Hats off. :-)

You are doing the right thing and please carry on with it.

If you need expert help in this matter then you can get free consultation from our community advisors. You can also call our toll free number (800 - 601-1579) and discuss your problem with the financial coach. You can also contact us at .



Sub: #1 posted on Wed, 05/28/2008 - 15:29

phoenix phoenix
(Posts: 1445 | Credits: 275.44)

Oh Pam, I am so sorry to hear of this, I understand how difficult situations like this can be, I have been there. Have you ever considered going to a non-profit credit counseling Service? They did wonders for me, and they have the negotiating power to get these creditors to work with you. It's something you might consider, and make sure it's a non-profit organization, then it will not cost you anything, they work strictly on donations. Take good care, and please keep us posted. :)

Sub: #2 posted on Wed, 05/28/2008 - 16:24

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.88)

I have to agree with Shazz. I resisted the dmp thing cuz I didn't want it to reflect badly on my credit. Had I known what impact the PDLs would have on my credit I would have done it a long time ago. In January of this year I bit that bullet and talked with an organization to help me out. It does cost a little each month as they are not non-profit but it's minimal and they have been wonderful about getting my creditors to accept my proposals and everything is handled in a timely fashion. I think they have more clout when it comes to getting your interest rate down. Many of my credit cards are now at a 0%. I love just sending out one check through my bank and it's done for the month. I don't have to worry about a thing. You might want to give it some thought. It would take the worry off of you and get those interest rates down. Please do keep us posted.

Sub: #3 posted on Sat, 07/26/2008 - 01:32

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

i think it's great that you are tring to do it yourself but a little help never hurt either i think you should give a non-profit organization a try they will talk to the creditors for you and get them to listen so that way your interest rates will drop so much.

Sub: #4 posted on Sat, 07/26/2008 - 10:19

blinkyberry blinkyberry

(Posts: 108 | Credits: 22.71)

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