Is this ok? I'm worried......

iVillage Member
Registered: 11-03-2003
Is this ok? I'm worried......
12
Wed, 09-29-2004 - 11:05am
Ok - where do I start?

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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iVillage Member
Registered: 11-03-2003
Fri, 10-01-2004 - 10:11am
I'm a little confused. I read over the article through the links in this post. I'm not sure what to do at this point. I have not spoken with this credit card company in a few years. I answered one a call a few weeks ago but the connection was terrible and I only heard the person tell me they were calling because of this debt. I did not acknowledge it or anything but they could remark my account that they talked to me - I just didn't respond to the conversation because I could only get bits and pieces of what she was saying. I haven't seen anything in the mail in some time for this debt so I don't even know what collections company it is with. If that article is true it says I shouldn't talk with them and that in a year this debt won't be on my credit report any more because that will be 7 years and they can't sue me for it.

I feel like that article has a point but I also worry that what if I wanted to get a house in the next 5 years...am I screwed?

I have other new debts that I should be focusing on right now (which I am). I also have my living expenses. I don't go out ever, I live in a very cheap apartment, I can't get a 2nd job right now because my current job is so demanding. I feel like I'm in a Catch 22.

I just know that right now I can not give them money. I literally go pay check to pay check and I sometimes have to dip into to overdraft protection to pay things off. That is paid off immediately when my next pay check is deposited every other week so it is not debt when I do that.

I guess I'm just confused as to what to do......

iVillage Member
Registered: 10-01-2004
Fri, 10-01-2004 - 11:50am

It just occured to me, have you pulled your credit report recently? If not you should do so and see what it says re: the collections. It would help with a decision I think.

http://groups.msn.com/_Secure/0SwAAABMWJUsHt2!NZF1MNLvf7qJ*oIaRadPaQTKfkOWhIyIbIokpBpj2r8bKf9*7s6eb8K1ThU7RuwM6xxKAlUY5VkaQun4pCCLt5KpQHsFBk2POT5VpFQ/Halloween%20Sig.gif?dc=4675491398069629379

cl-tiffany10605
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