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Scared and Stresssed

Date: Wed, 06/01/2005 - 08:51

Submitted by anonymous
on Wed, 06/01/2005 - 08:51

Posts: 202330 Credits: [Donate]

Total Replies: 2

Scared and Stresssed


All of my credit cards have raised their interest rates to 29.9% and aI am losing control. I need some immediate help here to get this situation in hand. I have been late in paying three of the hightest interest rate cards they hit me with a $35.oo late fee and my payment when it arrived a few days late took the balance down $5.00. I needd help fast.


Hi loriobrien51

Welcome to the forums.

As per your post, you can call your credit card company to see if you can negotiate with them for a reasonable payment arrangement or reduce your interest rate. Otherwise, collection agencies will call you up endlessly. You will have to build up the confidence and take the following steps while negotiating with your credit card company:

  • Try to get your annual fees waived.
  • The current interest rate can be lowered.
  • You can shop for the best credit card deals.
  • Try to get all the late payments, over limits, and cash advance fees waived.
  • You will be required to calculate the savings
  • Dispute charges and get all the refunds.
  • Negotiate settlements to the maximum.


    It might be possible that they will put you into another type of loan that will meet your budget.

    You can also take one more alternative by contacting your nearest CCCS office and speak with a financial counselor about your financial position. CCCS have a very good relationship with all the major creditors and they might offer solutions to you regarding this matter. Creditors rely on these counselors to evaluate your financial position and offer the best alternative to solve your financial problem.

    You can also opt to consolidate your debt to get rid of your debts. debt consolidation has many benefits and it offers solutions to many of these related financial problems. Through debt consolidation, you can get your late fees waived and re-age your accounts.

    http://www.debtconsolidationcare.com/benefits.html

    If there is any further query that needs to be answered, please do let us know.

    Regards
    Roxette


    • lrhall41

    Submitted by roxette on Wed, 06/01/2005 - 09:53

    ( Posts: 4009 | Credits: )


    Hi loriobrien51,
    Welcome to the forums.

    I read your post and understand your situation.

    I feel is that it will be best for your interest, if you contact your credit card issuers immediately, and ask them the grounds for the raise in the interest rate. If it was there in the agreement, then there is nothing much you can do.

    Otherwise, you can consult CCCS about this. They can really help you in this matter.

    Another option is a debt consolidation program to pay off your debts, and get rid of your debts as fast as you can.

    This site has a signup form. This registers you as a member in this community. After you are registered a debt consultant from your locality will get in touch with you and will do the needful.

    Please feel free to come back to this community with your queries

    Regards,
    Peter


    lrhall41

    Submitted by peter on Thu, 06/02/2005 - 03:19

    ( Posts: 285 | Credits: )