i have a $13000 balance on one cc. i am having a hard time keeping up minimum on this card. i have already had several late pays. I know i can make a bulk payment in 3months. About $6500. Should I just ignore them until then or tell them what i plan to do, or write up a negotiating letter. I am about two payments behind now, but have been sending all i can each month. about $150. Or should i keep the money in my savings because at that point, I will be back on track financially, and i will be able to make minimum payments.
If you are already 2 months behind and ignore them for 3 more months til you can pay a large amount, it may already be charged off by then. My advice is to keep sending what you can. If you know for sure you will have this money, can't you borrow some from friends or relatives to get this caught up?
I agree with LKH, if you wait the account will probably be charged off. I would call the creditor and tell them what is going on. They might be able to accept smaller payments for a couple of months knowing you will be caught up soon. The worst they can do is say no. Ask for a supervisor though. Kim
