Comments on: How Do You Start A Repayment Plan With a Credit Card Company? http://www.askmrcreditcard.com/creditcardblog/how-do-you-start-a-repayment-plan-with-a-credit-card-company/ Latest Credit Card News, Reviews and Information Sat, 07 Nov 2009 23:38:59 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Kristen http://www.askmrcreditcard.com/creditcardblog/how-do-you-start-a-repayment-plan-with-a-credit-card-company/comment-page-1/#comment-115343 Kristen Tue, 11 Aug 2009 03:07:37 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=675#comment-115343 I too called Citi about this and they are willing to help me. Across two of their credit cards I owe about $30k. I then have a Chase card that has an additional $22k. I'm glad to hear they will help me too. The question I have is if you have them help you with a plan, does that hurt your credit rating at the end because most of them as you to close your account with them after such a plan. I guess in my debt that should be the least of my worries. Bill, you said you are in BK law. I have had a few people suggest that to me but not sure if that is the best path. Any good BK lawyers in Boston that I can trust to discuss my options? I am married with two kids and a house and this debt is all mine. Has nothing to do with my husband so I am afraid of BK. Thanks for any insights. I too called Citi about this and they are willing to help me. Across two of their credit cards I owe about $30k. I then have a Chase card that has an additional $22k. I’m glad to hear they will help me too. The question I have is if you have them help you with a plan, does that hurt your credit rating at the end because most of them as you to close your account with them after such a plan. I guess in my debt that should be the least of my worries. Bill, you said you are in BK law. I have had a few people suggest that to me but not sure if that is the best path. Any good BK lawyers in Boston that I can trust to discuss my options? I am married with two kids and a house and this debt is all mine. Has nothing to do with my husband so I am afraid of BK. Thanks for any insights.

]]> By: etta http://www.askmrcreditcard.com/creditcardblog/how-do-you-start-a-repayment-plan-with-a-credit-card-company/comment-page-1/#comment-112237 etta Sat, 11 Jul 2009 22:16:47 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=675#comment-112237 i called wells fargo to try to make a payment plan the lady that helped me was so rude and refused to let me speak to a manager about my concerns...ihave been a loyal credit card customer for over ten years and due to dire circumstances in my finances i am unable to make the min payment on my 5500.00 bill i want to keep paying but they refuse to work with me what can i do...i have no job and my husband just got a job we have to pay the mortgage first and utlities etc...please give me advice i would like to pay them back but money is real tight for me right now...e* i called wells fargo to try to make a payment plan the lady that helped me was so rude and refused to let me speak to a manager about my concerns…ihave been a loyal credit card customer for over ten years and due to dire circumstances in my finances i am unable to make the min payment on my 5500.00 bill i want to keep paying but they refuse to work with me what can i do…i have no job and my husband just got a job we have to pay the mortgage first and utlities etc…please give me advice i would like to pay them back but money is real tight for me right now…e*

]]> By: Andrew http://www.askmrcreditcard.com/creditcardblog/how-do-you-start-a-repayment-plan-with-a-credit-card-company/comment-page-1/#comment-93770 Andrew Tue, 30 Dec 2008 19:29:41 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=675#comment-93770 I lost my business in April of this year and things are starting to catch up. I spoke to Chase on my business card and they agreed to cut my payments in half as well as my interest rate for a year, which helps a lot. Bank of America however will not do anything. I called and asked to negotiate a payment plan but they said they would refer us to a non-profit for credit counseling. This is after they did a pull on my credit which i did not authorize. I do not want to go to a non-profit credit counseling. If Chase can help me with payments why can't BofA help me out too? Should I keep calling or requesting to talk to someone else there? Any advice on how to approach the difficult nature of BofA. Who should I ask for? What else should I say? Should I wait for it to go to collections to negotiate with them? or at least threaten them with, "Im paying Chase first before I pay you, since they are helping me"? Please help... Details: Payment is about 450 and was requesting half. I am one month late now. I told them next month will be hard as well and that I lost my business in April this year. Interest rate is 30% with a balance a little over 12k. Thanks Andrew I lost my business in April of this year and things are starting to catch up. I spoke to Chase on my business card and they agreed to cut my payments in half as well as my interest rate for a year, which helps a lot.

Bank of America however will not do anything. I called and asked to negotiate a payment plan but they said they would refer us to a non-profit for credit counseling. This is after they did a pull on my credit which i did not authorize. I do not want to go to a non-profit credit counseling. If Chase can help me with payments why can’t BofA help me out too? Should I keep calling or requesting to talk to someone else there? Any advice on how to approach the difficult nature of BofA. Who should I ask for? What else should I say? Should I wait for it to go to collections to negotiate with them? or at least threaten them with, “Im paying Chase first before I pay you, since they are helping me”? Please help…

Details:

Payment is about 450 and was requesting half. I am one month late now. I told them next month will be hard as well and that I lost my business in April this year. Interest rate is 30% with a balance a little over 12k.

Thanks

Andrew

]]> By: Bill http://www.askmrcreditcard.com/creditcardblog/how-do-you-start-a-repayment-plan-with-a-credit-card-company/comment-page-1/#comment-92645 Bill Wed, 17 Dec 2008 03:44:18 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=675#comment-92645 I practice BK law and have to deal with the nitwits at the CC agencies all the time. 95% of them have no clue what they are doing, they just want your money. Don't do anything until you get something from them in writing. BK is the best law in the world if you qualify for it. Chances are, if you haven't paid in months, your credit is trashed anyway. And, in this economy, nobody can get credit as it is, even the crooked banks. So, don't feel bad, most people shouldn't use credit anyway. If you start making lots of money and the economy ever comes back, they will be falling all over each other to give you credit again. I have been through several cycles. Don't pay them the $125 if they are not going to set you up in a plan or take you off the non pay list. You did not state what your rate is, your minimum payments or who the card company is so it is hard to tell you what to do. Most companies now are working with people. Don't cave in, and don't throw good money after bad money, you may not even be making the interest payments, it isn't worth it. I practice BK law and have to deal with the nitwits at the CC agencies all the time. 95% of them have no clue what they are doing, they just want your money. Don’t do anything until you get something from them in writing. BK is the best law in the world if you qualify for it. Chances are, if you haven’t paid in months, your credit is trashed anyway. And, in this economy, nobody can get credit as it is, even the crooked banks. So, don’t feel bad, most people shouldn’t use credit anyway. If you start making lots of money and the economy ever comes back, they will be falling all over each other to give you credit again. I have been through several cycles. Don’t pay them the $125 if they are not going to set you up in a plan or take you off the non pay list. You did not state what your rate is, your minimum payments or who the card company is so it is hard to tell you what to do. Most companies now are working with people. Don’t cave in, and don’t throw good money after bad money, you may not even be making the interest payments, it isn’t worth it.

]]> By: Alicia http://www.askmrcreditcard.com/creditcardblog/how-do-you-start-a-repayment-plan-with-a-credit-card-company/comment-page-1/#comment-90101 Alicia Wed, 19 Nov 2008 03:33:04 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=675#comment-90101 I have one Credit Card debt with a balance of $15,000 can not pay the Min amount they want like 3,000 they will not work with me to set up a payment plan i tried many times. i can only send them a certain amount each month and yes it is small $125.00 but they still want there 3,000 each month they keep calling asking for this amount i told them if they will not accept the $125 a month i will have to file Bankruptcy which i do not want to do. I thought they woulld rather have some money going to this account as little as it may be at least im trying to pay something on this account then to have to file Bankrupcy and they get no money it's all i can sent (not only Debt i have) should i keep paying $125 or file Bankrupcy and Pay nothing on this account? I have one Credit Card debt with a balance of $15,000 can not pay the Min amount they want like 3,000 they will not work with me to set up a payment plan i tried many times. i can only send them a certain amount each month and yes it is small $125.00 but they still want there 3,000 each month they keep calling asking for this amount i told them if they will not accept the $125 a month i will have to file Bankruptcy which i do not want to do. I thought they woulld rather have some money going to this account as little as it may be at least im trying to pay something on this account then to have to file Bankrupcy and they get no money it’s all i can sent (not only Debt i have) should i keep paying $125 or file Bankrupcy and Pay nothing on this account?

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