Bills, Bills, Bills and more Bills

Sounds like you are well on your way to financial recovery! CONGRATULATIONS! I just paid off one card, and when the check clears, I will close the account. I was told the opposite…. Open accounts that you have paid off but haven’t yet closed count against you. They see it as “it’s there and I may use it.”

I will try and pay off another one next month. Then I won’t have any credit cards, just the monthly payment to my debt settlement company. Neither me nor my husband work… we live off the monthly Workmens Comp check he gets, which barely pays the bills. This past month we did without groceries, so I gotta buy food this month. I am looking all over the net for frugal recipes that we will both eat. I didn’t even have $$ for cat food this month so I been cooking a couple eggs a day for our cat… (they are about 2 months old, and while I wouldn’t eat them myself, the cat seems to be doing ok with this diet.

I will never get onto this situation again. We also have charged up our cards with the hopes of making the money back before intrest accured on the cards….. BAD IDEA……. NEVER COUNT YOUR LITTLE CHICLETS BEFORE THE EGGS HAVE HATCHED AND THE CHICLETS ARE HEALTHY AND THRIVING ON THEIR OWN. IN 4 more years, I hope to have all my bills paid off and have a nest egg. Lots of sacrifices to make I know… but I want a house one day.

I do not know if you have stopped paying on the cards or not

Ok… I do not know if you have stopped paying on the cards or not.

But that may not be a bad idea. A neighbor told me to do that years ago, but I didn’t, for fear of what the creditors would do to us. I stuggled with monthly minimums till I could no longer meet the minimum payments. We haven’t used a card in over 2 years. It’s been hard, YES, but you learn to do without. We had to use the cards just to survive. But if I had of known that there’s nothing the creditors can do to you, I would of stopped paying them and put that money into savings. Now we are hurting for groceries, as we have nothing to fall back on. There are several books out there on debt.

I have bought quite a few online from used bookstores. I would not file bankruptcy unless it was a last resort. In any event, whether it be bankruptcy, or a debt settlement program, they are gonna ask you for a down payment. Expect to pay $1,000 minimum. Even CCCS asks for a downpayment…. NONE of which goes towards the actual debt. To me CCCS is a ripoff. They lower the interest rate, and some companies will NOT accept CCCS. With a debt settlement program, they pay off your cards ONE at a time…. much like the way you got the cards…

ONE at a time. TRUE the interest continues to accumulate, along with late fees and over the limit fees, but in most cases the company…. well at least mine anyway, settles for less than what you owed the credit card company in the first place. Most of these places mine included gets 25% of whatever they saved you. Mine has a deal where at the end ofthe program when all your cards are paid off they will enroll you in their credit repair clinic, so that there is nothing negative in your credit report.

Question from a New Member

I just joined this blog about 1 month ago and so far have learned a lot but I need an opinion/advice from you. I have about $30,000 in CC debt. I joined a debt management program about 18 months ago and was doing ok until they “lost” my payment and were very unhelpful during the situation.

So I switched to a Debt Settlement Program which was a HUGE mistake because as soon as I switched, Citibank sued me for the amount owed. I am now trying to get into another DMP. My court date with Citibank is 11/9/16 and is out of state. If they don’t accept the proposal from the DMP, I need to get the trial delayed because I can’t afford to miss 2 days of work.

I am a contract employee so no work = no pay. I am waiting for a reply from the DMP Citibank’s response to the proposal. My questions: Should I contact the court or Citibank’s lawyer to ask for a continuance?

I am unable to afford an attorney so I guess I would do this myself. Should I contact another DMP and see if they have better luck dealing with Citibank? Are there any programs out there that have experience in dealing with consumers who are involved in litigation? Thanks in advance for any and all advice!