I have several credit cards which are over the limit. Thus, I've fallen into an endless cycle of over-limit fees and late payment fees. The payments I'm able to send barely cover these fees, which usually add up to about $60. I attempted to negotiate lower payments with one creditor (getsmart visa) and was basically told that all of these fees would continue even if they closed the account, until the account was brought current. Is this something which CCCS could have better luck with? I've read mixed things about this service, and my main concern is my ability to get credit in the future.
CCCS forget it!!! Get a second job, borrow the money from relatives/friends, dump cable, eat once per day, don't eat out (brown bag it), sell stuff...WHAT EVER IT TAKES... I take it you CAN'T get another card to BT @ 0.00% for 6 or 9 months...
A lot of people are anti CCCS here. Is it bad? Yes. Is your situation bad? Yes. Will CCCS be as bad a lots of late payments over the long haul? If you don't get the notations off your report, yes. But in my experience, it's been a lot easier to get off that notation that to get a creditor to stop reporting a series of late payments. If you're maxed out and late on your payments, CCCS can't be much worse. Can they help? Yes, in some cases but be careful. All agencies that do this are not the best. I used Christian Credit Counselors. I never had a problem with paying my bills late or not at all, etc. George also offered some viable options.
If this particular creditor, getsmart visa, closes the account on me, can they still continue to assess late payment and over limit fees? This sounds fishy, as at that point there is no more "limit" to speak of.
Christian Credit Counselors<-----THIS IS A TOTALLY DIFFERENT COMPANY... Consumer Credit Counseling Service...well known for delaying payments...many people have been unable to get 100% securred credit cards 2 years post CCCS...
OK....if I rule out services such as CCCS, what are some good strategies for negotiating with the creditors myself? As mentioned, I had little luck when I called Getsmart. Are there any laws which are on my side, as far as accepting reduced payments, and getting rid of over limit and late fees? Also, if $100 is due and I can only pay $50, will this typically be reported to my credit report as delinquent?
Phoenix, The only way to negotiate with your unsecured creditors is to convince them that BK is probably your best option. Then they might consider getting somethin instead a nuttin. Tell them a local attorney is really making it sound like "the way to go". But your family really thinks you should try to work it out with your creditors. Tell them that another creditor is working with you. The more believable you are the better you will do. Always try to get a supervisor or floor mgr. Good Luck!
