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I know some of you read my long post a couple weeks back.
Update: My wife and I went through our finances, and have cut back in some areas. We're in over our head in credit card debt. Again, no excuses here. Yes, a failed biz on the side helped, but we were reckless no doubt.
We've considered debt settlement companies and the like, but decided to start making calls to creditors. We've always been on time, but now, with my pay cut, and our interest rates soaring, we're in trouble.
Everyone is offering us great interest rates if we close our cards, which, hey, no problem. Well, no problem but the high payments!
If I can't pay 100 a month, what makes you think I can pay 200 a month? Yes, the interest rate is low, and it goes towards the balance, I get that... but we don't have the money! Two different companies have told us to wait until our accounts go 60 days late, THEN they may have another program?
Maybe we'd just be better off waiting 6 months, and when the collection agencies call, negotiate with them?
Update: My wife and I went through our finances, and have cut back in some areas. We're in over our head in credit card debt. Again, no excuses here. Yes, a failed biz on the side helped, but we were reckless no doubt.
We've considered debt settlement companies and the like, but decided to start making calls to creditors. We've always been on time, but now, with my pay cut, and our interest rates soaring, we're in trouble.
Everyone is offering us great interest rates if we close our cards, which, hey, no problem. Well, no problem but the high payments!
If I can't pay 100 a month, what makes you think I can pay 200 a month? Yes, the interest rate is low, and it goes towards the balance, I get that... but we don't have the money! Two different companies have told us to wait until our accounts go 60 days late, THEN they may have another program?
Maybe we'd just be better off waiting 6 months, and when the collection agencies call, negotiate with them?
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