IDEA...need opinion.

iVillage Member
Registered: 07-10-2001
IDEA...need opinion.
11
Tue, 06-21-2005 - 2:02pm

So, I've been pondering this idea...I need opinion.

a) Stop paying all the CC's (total of 11).

b) Take the $$ from all those payments and start targeting them individually.

c) When I get one paid off and target the next, I call and tell them if they roll off all the missed and late fees and some of the interest, I'll start paying, otherwise, they get passed over...forever.

Comments?

Pages

iVillage Member
Registered: 04-21-2003
Wed, 06-22-2005 - 6:33am

HI, I'm delurking to respond to this one.

I personally would not stop paying on the CCs. I did that about 6 years ago and it was a disaster. I didn't pay anything for one year on 3 cards. They finally caught up with me and one of the cards sued me. I didn't have to go to court because I was able to settle with them, but it is on my credit report and right now I can't get credit. The other two settled with me also. My advise would be to pay SOMETHING...anything is better than nothing. It might seem like you will never get them paid off, but you will.
Just my two cents worth...hang in there.
Cindy

Pages