Ditching the CC bills...

[wvjules]

Posting after only reading the OP

Call your credit card companies and ask about their hardship program.

Do not use a consumer credit counselor, might as well file BK for the trashing of your credit they will do. (NO I AM NOT ADVOCATING FILING BK!)

GET A JOB, STOP CHARGING, SET UP A BUDGET!

 

[mom2twinz3]

While this is true, in today's economy, do you know how many credit scores have tanked recently? With interest rates going up, people closing their cards because of the increases, credit scores in general are down. Once you close a card, your score takes a hit.

I think if the credit card company "called her bluff" and lowered her limit, that would be a blessing in itself, don't you think?



WDW currently has a hiring freeze. One of my relatives has been unemployed for over a year now and she wanted to go work down at Disney, but they aren't hiring.

I know many have mentioned a credit counseling service, but that ruins your credit just as much as not paying your bills or filing for bankruptcy. If it were me, a credit counseling service would be my last OPTION. I'd look at bankruptcy first.

I love how people just keep saying "get a job". While I don't know the OP's background like so many of you do here, it's not that easy to just "get a job" in this economy. I know many people that have been unemployed for over a year, some over 2 years. They apply to a few jobs a week and NOTHING...not even a phone call.

I wish the OP luck in her situation.

Oh, ok. I did not know about the hiring freeze! That does change things.

Maybe Universal or Sea World? Unless things are tight for them too.

I know if I lived down there, I would keep trying for one of the parks. It would be such a fun job.

But the delivery service sounds good, too.

It is hard to get a good job. I would then start looking at temporary work, like substitute teaching, all the while searching for a more permanent position.

I too, wish her luck.

 

[mafibisha]

We used a debt consillidation agency, named Care One and they were fantasic. They contacted all our CC companies and halted the over the limit fees, the interest hikes, the late payments etc. Our monthly payment was $500 which they divided up amongst the CC each month. We then used every extra dime we had to pay extra on the cards, starting with the lowest total first. Within three years we had paid them all of!!! !

I'd recommend either going back to CCCS and get them to send out the contracts TODAY or find a LEGITIMATE debt relief company in your area.

What does CCCS stand for, is it also a debt consolidation agency?

If you use one of these agencies, doesn't it lower your credit score, and if so, about how much lower?

 

[wdwfan16]

I love how people just keep saying "get a job". While I don't know the OP's background like so many of you do here, it's not that easy to just "get a job" in this economy. I know many people that have been unemployed for over a year, some over 2 years. They apply to a few jobs a week and NOTHING...not even a phone call.

The OP is famous for her "I realized that working was not my thing". She also will tell the SO how many hours she has to work to pay their bills. A 20 something may not like to work but still may need to work. The OP needs to work. IIRC she once stated they live on $20K to maybe $25K per year. The only way to pay that stuff off is to get a job.

 

[gillenkl]

My suggestion would be to get some type of job and also start doing Dave Ramsey and pay off your debt. You can get his book free from the library or get info off his website.

 

[bluesaturn]

I love how people just keep saying "get a job". While I don't know the OP's background like so many of you do here, it's not that easy to just "get a job" in this economy. I know many people that have been unemployed for over a year, some over 2 years. They apply to a few jobs a week and NOTHING...not even a phone call.

The OP is not even applying for jobs, she has no desire to get a job. That's why everyone is saying get a job.

 

[laurio]

What does CCCS stand for, is it also a debt consolidation agency?

If you use one of these agencies, doesn't it lower your credit score, and if so, about how much lower?

CCCS= Consumer Credit Counseling Services

It is a service that was set up in part by the credit card companies to help customers that get in over their heads.

When I was doing mortgage origination, the first 2 years in CCCS were the worst for a person's credit score. Usually when you are in a program you are NOT eligible for new financing.

by not paying any bills for 90 days, the OP can look to see his score decrease by anywhere from 75-200 points, depending on the total payment history, etc. Lenders would rather see a CCCS notation on your credit file than just a total default. Unless the OP is willing to get a job, any job...then the possibility of being able to pay everything off by January is more wishful thinking than reality.

btw - when a lease renew's the apartment complex will run a new credit check. If there has been a significant change in the tenants credit scores, they have the right NOT to renew the lease....and with bad credit, good luck getting a new apartment in a place where you'd actually want to live.

BKY - stays on your credit 7-10 years and now getting credit the first 3 years after filing...dicey at best.

Debt Consolidation Companies - most are ripoffs, but there a few good ones. the length of time for most contracts is 3-5 yrs and it will trash your credit because they are not paying ANYONE until you have escrowed enough to pay EVERYONE. Once they are settled, the negative info stays on your credit an additional 7 years....total hit against your score 10-12 years.

CCCS - will show that you are under contract, minimal damage to your score, but not able to obtain new credit unless you can show it's necessary (refi on mtg w/no cash out or vehicle within budget amounts). Shows good payment history and has usual max score impact less than 50 points.

Not paying at all - depending on the creditor, the balance and the state...collection agencies dunning for the balance, exponential increase in the balance owed. FL has a fairly low threshold for suit - 1k, so if your balance is over that, the cc company can sue. If you are not head of household they can take up to 25% of your income...and yes..the judge can order you to get a job to satisfy the judgement if you are not working. Can stay on your credit for up to 7 years. With so many lenders now consolidated under 1 parent company, if you bail out on one, good luck down the road trying to get a line of credit through a finance company, mortagage company, or realty company that they own.

Getting a dream job is great, but having any income is better. I took a job at a bakery just to get by until the market opens up again. Would I consider it a *good* job for *good* wages....um NO.

However, as I was always quick to point out to people in my collection route...how do you justify not working when any income brought in is a heck of alot better than the 0 income you have right now?????

Just my opinion..

Lauri

 

[Chicago526]

... And it usually takes years before you get sued.... not 90 days.

Not anymore. A financial board I hang out at, I've seen posters that get sued in less than a year, usually by the original creditor that didn't even bother to sell it to a junk debt buyer, they just filed in court and had the debtor served. The higher the amount, the faster people are getting sued these days.

Anyway, it sounds like your mind is made up (so why you bothered posting then, I have no idea). Feel free to come back in January and tell us how we all were wrong and things worked out for you. I'm sure we'll all be interested in hearing about it.

 

[dfchelbay]

Not anymore. A financial board I hang out at, I've seen posters that get sued in less than a year, usually by the original creditor that didn't even bother to sell it to a junk debt buyer, they just filed in court and had the debtor served. The higher the amount, the faster people are getting sued these days.

Anyway, it sounds like your mind is made up (so why you bothered posting then, I have no idea). Feel free to come back in January and tell us how we all were wrong and things worked out for you. I'm sure we'll all be interested in hearing about it.

Agreed. I used to work in the industry and when we got the file from the Creditor, we sent a thirty day demand letter for payment. If no arrangements for paying the debt were made, you got sued...as soon as thirty-one days after I got the file.

 

[The Mayor]

We're paying so much in CC bills by paying the min payments, that we could easily knock out one card if we put all that money towards it. From what I've read online and previous experience, CC companies won't help you till your behind. One time with us, we got about 90 days behind on one, and when we spoke to them, they allowed us to make 3 on time payments of a set amount and that would bring the account current (our min payment was up to like 350$ by this time). So I'm hoping that if I do this, I'll get a little bit of slack like that again, or be able to take part in a debt settlement with them.

So my plan is, to stop paying on all of them, save up every extra dollar between now and the end of the year, and pay off 4 credit cards entirely. Then come Jan, we take the extra money from that month and bring the last two accounts current. That would leave us with two larger CC, then we can start hacking down at those with above normal payments. One of the two larger cards I'd be willing to do a debt settlement program with them and be done with them all together.
I know there's going to be late fees tacked on (and well the interest rate can't go much higher than it already is). But I'm hoping that they'll take off one or two if I'm willing to pay it in full.

Am I trying to bite off more than we can chew?? Or does this sound plausible?? I don't want to spend the next 20 years of our life trying to pay this stuff off. And who knows how we will be financially down the line. We're almost to the point of not being to pay them all, and once Jan comes around and overtime goes down the bucket, we're really gonna be in a mess if our payments stay the same. Plus next March, the forbearance on the student loans is up, so an extra 100$ will be owed to that too each month.

This is a joke, right...although if you could make all this up you should be a comedy writer...no job, doesn't want to work, maxed out 6 credit cards, wants to stop payments on said credit cards...just like the Guinness commercial....BRILLIANT...

Good luck with that plan

 

[secretpantssam]

That sounds like a bad idea. Just work as hard as you can to pay the debt off in a reasonable time, but on time. You'll end up with more problems and more debt if you just stop paying. Try making extra money by selling things on craigslist or ebay and possibly doing odd jobs.

 

[downsouth]

Maybe you could get a job and put that money towards the cards. Then you and your GF's credit scores wouldn't get trashed.

I vote for this one, before you girlfriend gets tired of being used and ditches you!

PS - You reaped the rewards for using the credit card companies money so you should pay it all back interest and all on time!

 

[mom2twinz3]

I don't know that working is anybody's "thing." But it has to be done. The Op will learn this. I just hope it happens before she continues with this disastorous plan.

Now while good jobs may be hard to find, there are many temporary jobs this time of year for the holiday season. I would try Toys R Us, for starters. I did that one season when I was still taking my RN Refresher, and it was busy but tons of fun, especially working the floor...helping people select gifts.

I know that many retailers are hiring. It is a start and will give you some experience and a reference. They also keep some people if they need them and they do well.

Good luck, OP, you CAN do this.

 

[Ava]

I don't know the details of the OP's history/situation like many of you seem to, but just throwing this out there -

OP, there are ways to make money without getting a traditional job. Babysit, walk dogs, mow lawns, etc etc. Sell on eBay, do online surveys, sign up for focus groups, mystery shopping. You may not make a whole lot doing these things, but some income is better than none. If you have any office skills, try a temp agency. The jobs are not glamorous or fun but they usually pay well. You can also tell them you are only interested in short-term assignments. That way even if you hate the job, you know it will be over in a couple days/weeks.

You can also help to "make" money by saving money. If you don't already, check out the threads on here about couponing. You can save lots of money on your groceries & toiletries by using coupons & matching them up with sales.

Also I'm sure this is obvious, but batten down the hatches and do not buy ANYTHING except food until you've gotten yourself out of this hole. Make do with the clothes/shoes you already own, cancel cable TV. If you have a landline phone, get rid of your cell phones. Use the library for books & movie rentals instead of paying for them. Any money saved is money you can throw at your debt.

Good luck.

 

[NancyIL]

Apparently WDW IS hiring parttime help - because a friend of mine has an interview soon.

 

[wdwfan16]

I don't know that working is anybody's "thing." But it has to be done. The Op will learn this. I just hope it happens before she continues with this disastorous plan.

Now while good jobs may be hard to find, there are many temporary jobs this time of year for the holiday season. I would try Toys R Us, for starters. I did that one season when I was still taking my RN Refresher, and it was busy but tons of fun, especially working the floor...helping people select gifts.

I know that many retailers are hiring. It is a start and will give you some experience and a reference. They also keep some people if they need them and they do well.

Good luck, OP, you CAN do this.

On one of the news channel crawls last night it said the TRU is planning on hiring 64,000 temp workers. OP go to TRU today and apply.

 

[mom2twinz3]

On one of the news channel crawls last night it said the TRU is planning on hiring 64,000 temp workers. OP go to TRU today and apply.

It's easier than that even. You do the applying all online!

Cool about WDW, too. I would also try with them.

 

[RitaE]

Great news about WDW. It sounds like the OP here doesn't really need a full time career type job. Even if she just worked 20 to 30 hours a week, her partner could maybe cut back on the OT a bit and they could still pay their bills.

If it were me I'd be cruising every grocery store, restaurant, and mall in the Orlando area saying "Could I have a job application to complete, please?" about 8 to 10 times a day. Eventually something would hit and I'd be hired. The economy is bad -- but there are still JOBS. They aren't glamorous high paying full time jobs but that isn't what the OP necessarily needs. Maybe eventually, but right now she just needs a paycheck.

 

[SaraJayne]

Great news about WDW. It sounds like the OP here doesn't really need a full time career type job. Even if she just worked 20 to 30 hours a week, her partner could maybe cut back on the OT a bit and they could still pay their bills.

If it were me I'd be cruising every grocery store, restaurant, and mall in the Orlando area saying "Could I have a job application to complete, please?" about 8 to 10 times a day. Eventually something would hit and I'd be hired. The economy is bad -- but there are still JOBS. They aren't glamorous high paying full time jobs but that isn't what the OP necessarily needs. Maybe eventually, but right now she just needs a paycheck.

 

[Ava]

On one of the news channel crawls last night it said the TRU is planning on hiring 64,000 temp workers. OP go to TRU today and apply.

That's great! I'm sure a lot of retailers are hiring temp help for the holidays. My mom worked at a toy store for the holiday season a few times when I was a kid, and now as an adult I really appreciate how hard both my parents worked to give us a good childhood. If I was in a real financial pinch, I would definitely be out there looking for seasonal work right now.

My first "real" job was doing gift wrap at a department store for the holidays. It was actually kind of fun, being paid to wrap gifts, and to this day the family wants me to wrap all the gifts except my own because I do a "pro" job of it.