Just don't know what else to do

iVillage Member
Registered: 12-21-2004
Just don't know what else to do
4
Wed, 09-14-2005 - 5:21am
We have got so far behind on some of our bills I just don't know what move to make next. We have so many credit cards. Right now two of the MBNA cards are a month behind so the minumum payment due right now is $633.00 on each - that is over $1200:)and that doesn't even include a discover card that is about 4 months late, bank of america that is about 4 months late, and citicard (citicard honestly calls our house at least 10 times a day - I know it is a computer generated call but they are driving me insane) I have written the last three cards letters and asked them if I could pay $20.00 a week on each of these - haven't heard anything . I don't know what to do about MBNA - they haven't started calling yet but I know that they will. I have contacted CCCS but haven't heard back from them - the last time I contacted them they said our debts were more than our income - so they couldn't help. I think if I could get the interest rates lowered, the over limit fees stopped and the past due fees stopped we could maybe catch up...I know that this is all our own fault - but my husband was out of a job for 5 weeks about two months ago and then he was out of work earlier in the year for about 5 weeks....between these 10 weeks it looks like we just can't catch up. These credit cards are really only the beginning of our bills. I just don't know what to do....we are trying to catch the light bill up and our prescription bill up(about 450.00) We have mortgage, vehicle payments, personal loan, chevron card, jcpenney card and several other small ones. I feel so much stress right now that I honestly feel like I am going crazy...what should we do?
iVillage Member
Registered: 12-21-2004
Wed, 09-14-2005 - 5:29am
I was just surfing the net and found some companies that are called "debt settlement" lawyers - is that the same as bankruptcy? I really don't want to file bankruptcy if there is anyway possible and especially with all these new rules...they would probably take half of our paychecks - this is all so embarrassing - I can't even sleep at night. If anyone knows anything about the debt settlement thing please let me know...I sure wish I could figure out a way to get out of this mess without ruining our credit forever.
iVillage Member
Registered: 05-09-2005
Wed, 09-14-2005 - 9:39am
Hi,
Unfortunately, your credit is probably pretty bad right now and wouldn't get any worse with banruptcy. You need to talk to a reputable bankruptcy lawyer NOW before all the new regulations go into effect in October -- if you wait, it will be much harder to get out from under credit card debt. I suggest bankruptcy only as a last resort, but it sounds like you really are at that point -- especially if the debt counseling folks don't think you would be able to meet even the payments they might be able to set up. At least talk to a lawyer -- you need to find out what is available.
Megan
Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Wed, 09-14-2005 - 9:43am

Hugs!!!


I'm sorry you are going through this right now.

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Wed, 09-14-2005 - 5:35pm

I feel your pain.

Sarah