My dh was handling the bills until I took over last week. I found out he hasn't been paying my CCs because utility bills came first. I now have dunning letters for 3 accounts. Two of these accounts are over limit, mostly due to late fees & interest piling up. I got a letter from MBNA last week telling me I have until Monday (6/28) to pay $680 and if I can't, call to make alternate arrangements. My dh's former boss owes us about $10K and promised it to us by the end of the month, but it looks like that won't happen. What alternate arrangements can I make? I can only come up with about $100. And I owe them $360 on my other account.
I'm bumping this so it's above the other copy of my post (computer glitch). Just let me thank in advance whoever answers this post.
How many months behind is your Crdt Crd account? If it is 6 mths, the 28th is probaly the day that the account is scheduled to be charged off. You will not have to pay the full amount of 680.00. Most likely a Minimum payment would prevent it. Hopefully your account is not 180 days past due.. Good luck ..
Call them and talk to them. Explain that your husband is due a large sum of money but is having trouble getting it. Offer to send them $100, or whatever it is you can afford.
You never know until you ask. Tell them that if they can't make payment arrangements, they'll get nothing, because you can't pay until you get some income.
It often helps if they know you are at least willing to pay something, and you aren't just running out on it. I made that mistake--when I couldn't pay I just let it go. I realize now that I should have made some effort to contact them.
OK, thanks, I took your advice and called. The woman told me to keep my money to feed my kids, said I should wait a couple of weeks to see if our situation improves and if not, to call their debt management company, gave me the 800 # (800) 224-2858. I hate to think what that's going to do to my credit.
You can deal with the credit report issues later. Right now, you and the other lady are right. You need to take care of your family. Can your husband take them to court or something to get his money? Have you talked to a lawyer?
Re: Re: I am freaking out - please help! If I do have to deal with these people, can I negotiate credit report issues up front?
Re: Re: I am freaking out - please help! You can try. I don't know how they are to deal with. I don't have much use for MBNA myself, but it was over a rate jack/credit limit issue that I canceled them. I've never had to work with them on something like this.
S Fl Mom, Remember that your health, children, and food on the table do come first. I hope that everything works out for you. If you do not work in house with MBNA in regards to getting a lower payment, make sure that you get a legitimate CCCS service. There are a lot of rip offs out there.. Contact the Better Business bureau in your area.. It looks like you have just hit a bump in the road right now and getting your interest rate and payments lowered would be a temporary solution until your HSB gets his money owed ect. You may be able to get your interest lowered as low as 1%, and have all of your fees stopped at the same time.. Depending on What company you use your payment would most likely be somewhere between 1.5 to 1.75%. If you are not financially able to work with a CCCS company due to not having sufficient income, ect.. You will still be able to work in house with MBNA.. Your minimum payment now is most likely a 2.25% or the balance or a $15.00 constant plus fc and fees. Hopefully you will able to get a lower payment.. It will not be as low as 1/7th of the minimum.. but it will be a lot lower than $623.00. Best of Luck and plse remember .. Family and Food come 1st
