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If you owe a credit or charge card bill you can’t
afford, you have a couple of options.
Ignore the bill
You’ll get a series of monthly
statements and bills. After about four months, your
account will be closed and your bill will be sent to
a collection agency. Some companies act sooner,
especially if you exceeded your credit limit with
your charges. Some companies wait a little longer,
especially if you have a good payment history. If
you still don’t pay after being contacted by a collection
agency, you may be sued.
Ask to make lower monthly payments
You can
write to the credit or charge card company and ask
to make lower monthly payments. Most companies insist that you make the
minimum payment. Although the credit card industry
used to require that you pay at least 4% of the
balance, this is no longer true. For example, if you
can convince the company that you’re having serious
financial problems, your payments may be as
low as 2% of the outstanding balance. Beware of the minimum payment trap. If you
opt to pay only the minimum (or less) each
month, you’ll need years to get out of debt.
Get Professional Credit Card Debt Help
Increasing numbers of
creditors simply will not negotiate with
debtors. If creditors are ignoring
your pleas for help, continue to call
demanding payment, sell you to collection agencies and leave you with
few options other than filing for bankruptcy then it's time for the professionals to step in. Community Debt Service staffs a team of fleet experienced, aggresive debt negotiation lawyers who represent your every financial woe. If your not prepared nor willing to pay your creditors thousands of hard earned dollars in interest, yet don't want to suffer long term effects of bankruptcy then Community Debt Service Can Help!
To learn how Community Debt Service can get you out of debt in a fraction of the time at a fraction of the cost, don't wait another second pick up the telephone and call us, or inquire online and we'll call you!
We value your interest in our service and look forward to assisting you.
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