Terrified because I can no longer pay my min.payments...

iVillage Member
Registered: 10-20-2011
Terrified because I can no longer pay my min.payments...
13
Thu, 10-20-2011 - 8:02pm

My husband and I recently relocated to a new state. After several job interviews, my hubby got hired for a job that pays approx.

Pages

iVillage Member
Registered: 07-20-2001

There is a HUGE difference between a debt managment company and a debt consolidation company.

iVillage Member
Registered: 01-02-2008

oh; well?? when I stupidly stopped paying the cards

Community Leader
Registered: 08-25-2006
Getting a 1099 isn't the worst thing in the world.

Better to pay $200 in tax on the $2,000 than acutally pay out the $2,000. (OK, I am no tax expert, but you get the gist)

Serenity
iVillage Member
Registered: 01-02-2008

wow; someone told me that.. Is there anything else I can do??

too late for my visa

Community Leader
Registered: 01-03-2004

Hi,

Be aware that when you accept a settlement on a credit card the $2,000 you "settled" will be viewed as income by the IRS and you will have to pay income tax on that next tax return. You file a 1099. Be ready!

iVillage Member
Registered: 05-28-2011
call the.cc.company and tell them you cannot pay. See if they will accept 25 or what per month. House food clothing electricity comes first. They come last. Maybe save up some cash and make a deal
iVillage Member
Registered: 01-02-2008

I so agree with the other posters...because I made a big mistake and when I had limited

Community Leader
Registered: 01-03-2004

Before you stop making minimum payments on credit cards look closely at ALL your expenses.

1)You pay for shelter first. Rent gets paid first.

iVillage Member
Registered: 12-31-2010

Mart -

Please be careful with what and how you deal with CC companies.

#Marie
Community Leader
Registered: 08-25-2006

Oh sweetie, whatever you do, keep making those minimum payments on time.

Serenity

Pages