Is this ok? I'm worried......
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| Wed, 09-29-2004 - 11:05am |
I have cc debt from 5 years ago. I took a loan out for one of the cards through my bank and paid it off. I'm making payments on that every two weeks. I have another card for $8,000 that I have ignored for 3 years. It was only at $6,000 but fees and interest have brought it to $8,000. I haven't been able to even begin making payments on it because I've been focusing on all of my other bills (rent,car,insurance,utilities etc.) I only make 30K a year and I'm spread so thin with my usually monthly bills. I don't have any other credit cards and I'm not getting into any worse debt. I do have a few straggling bills out there that I have also neglected that add up to about $600 all together and I haven't been able to add money there either.
I've been told to focus on my current bills and pay what I can when I can. Is it bad that I'm neglecting these other bills and the credit card? I just don't have the money and I have a very busy job so a second job would be very difficult. I'm trying to look for another job that pays more but I live in a area where employment isn't the greatest for my field.
I guess I just want to make sure I'm doing all right. I don't sleep at night because I worry someone is going to drag me off to jail because I have these outstanding balances but I can only do what I can do.

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HUGS & Welcome...
The theory of paying what you can when you can is good but I think you need to figure out when you can pay them something.
Becky
CL of 4th, 5th & 6th grade Scoliosis
I'm also looking for a better job where I can get paid more or at least be able to take on a second job.
I have heard a lot of people talk about snowflaking so I will definately check it out.
Thanks again for the help. I always feel better after I post something on this site.
I have this credit card company calling me constantly. I usually just don't answer my phone because I can't commit to any payments right now so I avoid them. Everytime my phone rings my heart stops and even after the call I'm obsessing about it and my worrying begins all over again.
Are they allowed to call me everyday? Sometimes twice a day? It just gets me all worked up and it's pointless to make myself all crazy and upset. If I had the money I would pay them so I'm not avoiding paying them - I want to pay them. I really want to be able to sleep at night and not worry about money anymore.
I'm not sure but I think they are allowed to call you every day and/or more than once a day especially if they haven't talked to anyone or left a message (and since I don't think they are allowed to leave anything more than possibly the name of the company & a number, not sure how that goes).
You might want to ask on the Debt Question & Answer board, they would be able to help you more with the nuts & bolts of the credit card companies http://messageboards.ivillage.com/iv-mldebtqa
I do know they can't call you at work if you tell them you can't receive personal phone calls.
Becky
CL of 4th, 5th & 6th grade Scoliosis
Some drastic measures might be called for. Can you cut your costs in housing, transportation, insurance, anything? Are you already living in the cheapest safe housing and driving the least expensive car you can or taking public transportation? Do you have more than one phone line, cable TV, an expensive online package, or anything else in your home you can eliminate? Have you cut out frivolous things like coffee or breakfast on the way to work, martinis, new shoes, etc.? Have you stopped buying takeout food and last-minute items at the convenience store instead of cooking at home? Have you sold the things you acquired with your credit that are not necessary and don't need to be replaced, e.g. new furniture that can be sold & old stuff purchased at yard sales, clothing that can be consigned, a computer or jewelry or musical instrument that you don't really need, etc.?
The good news is that you're still single and childless, so you have a lot of flexibility that people with more dependents don't have. You can live someplace crummy for a year and no one cares but you. You can eat lentil soup every night of the week and not hear "But I don't WANT THAT." You can get a weekend job and work 7 days a week for 6 months and get somewhere. 27 years old is still very young, you can work your way out of this in 2 years or less.
Good luck!
Kelly
One thing I found amazing, that the amount does not matter with regards to your score. I had a stupid thing go to collections, it was for a 83 cent check written, that supposedly bounced. I did not know about it, and the check went to collections. this uncollectible account showed up on my credit report, and when I found out about it, I paid off the fees, (now $100)
Even though it is down to zero, and shows zero on my credit report, the fact that it ever went to collections, reduces my score considerably.
Trying to get this uncollectible off my credit, I investigated, and found out my ex husband wrote the check from an old check stock, adn it bounced, since the account did not exist anymore.
but funny thing is, the amount could've been $5000, it did just as much damage as it being 83 cents.
Thats why i ask. it should be charged off, and one bad charged off account will not hurt. Then, you can fight it, to see if it actually ever gets verified.
Companies re- consolidate and merge all the time, and when they do, their records get screwed up, and lost, and you are free.
I guess there is some good that comes out of our stupid inaccurate credit system.
Ahhh....but one must be careful just assuming that once it falls off the credit report you are in the free & clear.
Mortgages can look back 10 years - and they are much stricter about things, if you have something outstanding they will make you pay it off before they will approve the loan.
Becky
CL of 4th, 5th & 6th grade Scoliosis
I was just pointing out, with regards to priorities, if the money isn't there to pay off the debt, it is not the end of the world. I mean, it is more of an analogy to like stabbing someone who is already dead? You know what I mean? but I agree with you. Some items, like child support, are indefinite on your credit report. thanks for the information.
Hi there,
You're more than welcome to join us over on Debt Q&A but I just thought I'd answer a couple of your questions here.
Harassment:
Basically this is the gist of it:
Collection agencies are not allowed to:
Here's a link that will tell you more about that (http://www.creditinfocenter.com/rebuild/creditorharassment.shtml)
Debt Forgiveness:
Personally, I am not a proponent of this, but it exists. Here's a link to a thread we had over on Debt Q&A about it (http://messageboards.ivillage.com/n/mb/message.asp?webtag=iv-mldebtqa&msg=4658.1&ctx=128). You'll find a link to an article from Bankrate in the replies.
HTH!
~Tiffany
cl-tiffany10605
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Debt Q&A
I mean you haven't paid on it in three years. They are thinking write off. They'd rather have their money. You'd rather pay it. Ask them to committ to a "paid as agreed" on your credit report when done. Ask for an agreement letter from them before you start the payments. Right now it's inactive three years. so don't do this unless you can stick to it and can get it in writing from them.
Worse case scenerio is that they say no. Best case is they say yes. my two cents.
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