Credit Tips: I Can’t Pay the Minimum on My Credit Cards

Posted On: January 1, 2006

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Posted: Wed Sep 08, 2004 10:02 pm
Post subject: I Can’t Pay the Minimum on My Credit Cards

Caitie
Date: 4/6/2001 8:26 pm CDT

My husband and I have gotten ourselves into a mess. We are about 10,000 in debt and because of him losing his job a month ago- I can not pay the minimum on my credit cards. We have about 5000 ( of the 10,000) in credit card debt. the interest on these cards are pretty high so the payments are too. I have already missed payments on some of them and others are coming due and We have no way to pay them at this time. My husband has found a job tody but our income will not be back to normal until next month. What can I do?

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Posted: Wed Sep 08, 2004 10:03 pm
Post subject: I Can’t Pay the Minimum on My Credit Cards

dave
Date: 4/6/2001 11:14 pm CDT

The first step is to contact the creditors and explain the situation. This one has light at the end of the tunnel and they are very likely to work with you. Just ask to skip a payment without a late fee and not report the accounts as late.

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Posted: Wed Sep 08, 2004 10:05 pm
Post subject: I Can’t Pay the Minimum on My Credit Cards

Mom
Date: 4/7/2001 0:07 am CDT

Yes I agree with dave, call them ASAP and explain the situation, since you will be back on track soon, I am hopeful most will work with you. Damaging your credit can take years to repair, you don’t seem extremely behind, so call them ASAP and work something out and save your credit rating if you can.