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@altayar wrote:
My income is 85k .. Those balances are being paid right now. No they are not chasing me for the balance .. They didn't close the account.
Balnces too high compared to monthly payment means they probably didn't thnk you were paying enough on your current balances relative to the total debt.
Has your overall debt been steadily increasing the last few months?
Not a fan of Barclay's, they have a Felix Unger streak, but it is your balances. It will work out
I wound up getting rid of all my Barclay cards. They seem difficult to deal with to me. Pay it off and close it IMO.
Welcome to the 'RCLDCOMF' - (Recently CLD Club of MyFico)
Step 1, hold on tight....other creditors may follow suit.
Step 2, don't stay piss ed for too long, it'll fog your mind with what you need to do
Step 3, PIF as many of those balances as possible.
Step 4, SD Barclays, don't ask for your CL back. Holding a grudge is completely acceptible.
I was recently CLD'd by Chase, Discover and US Bank.($32k)....I had ran up my usage for 3 months, but my plan was in place to pay back at the beginning of the year.
Well, the CLD's started happening and my PIF payments and the updated credit reports, couldn't keep up with the onslaught.
I think the worse is over....if it ain't, well, I"ve done all that I could do. Screw'em if they can't take a joke.
Good luck, and as others told me, this is a good way to weed out those creditors that are the weakest in your mind.
@altayar wrote:
My income is 85k .. Those balances are being paid right now. No they are not chasing me for the balance .. They didn't close the account.
To be honest you seem a little evasive......to get to the meat of the problem. What is your total debt......are you able to pay ANY of the balances completely off.....was the card with the 45% debt the Barclays card.....is your credit limit on the Barclays card near the amount you owe on that card, give or take a few hundred dollars.....if so they are more than likely balance chasing you.......did your credit scores tank recently......was debt on all cards incurred rapidly or gradually????????
You more than likely will have to wipe out some balances to salvage things. Even tiny balances on multiple credit cards can hurt your score and trigger reviews of your accounts/credit report. I would definitely move some of the balances if you are unable to pay any of them in full. However, there is a certain risk in doing that. Once you bring it to the attention of other lenders that you have so many cards with balances they may also CLD you. Is a consolidation loan possible ......even though this would be a last resort for me it may get you back on track.
Sounds like you have done what is quite common and has happened to many of us and that is misuse of credit. This causes a cascade of events that can be devastating. Not bashing you just trying to help......with your income you should be able to recover and get through this. Stick with the board and people here will try to help you.
@racer-x wrote:Welcome to the 'RCLDCOMF' - (Recently CLD Club of MyFico)
Step 1, hold on tight....other creditors may follow suit.
Step 2, don't stay piss ed for too long, it'll fog your mind with what you need to do
Step 3, PIF as many of those balances as possible.
Step 4, SD Barclays, don't ask for your CL back. Holding a grudge is completely acceptible.
I was recently CLD'd by Chase, Discover and US Bank.($32k)....I had ran up my usage for 3 months, but my plan was in place to pay back at the beginning of the year.
Well, the CLD's started happening and my PIF payments and the updated credit reports, couldn't keep up with the onslaught.
I think the worse is over....if it ain't, well, I"ve done all that I could do. Screw'em if they can't take a joke.
Good luck, and as others told me, this is a good way to weed out those creditors that are the weakest in your mind.
Damn. That's some hell of a response. But I must say. I agree 100% I know op said he paid than minimum. What. 10'dollars more? 3 times the minimum? I think sometimes barclays get bad rap. I've opened 5 new cards since September when I got barclays. They even gave me cli. Although hp. But out of 15 cards. Balance only on 4. So not sure what the trigger was. To spook them.
@racer-x wrote:Welcome to the 'RCLDCOMF' - (Recently CLD Club of MyFico)
Step 1, hold on tight....other creditors may follow suit.
Step 2, don't stay piss ed for too long, it'll fog your mind with what you need to do
Step 3, PIF as many of those balances as possible.
Step 4, SD Barclays, don't ask for your CL back. Holding a grudge is completely acceptible.
I was recently CLD'd by Chase, Discover and US Bank.($32k)....I had ran up my usage for 3 months, but my plan was in place to pay back at the beginning of the year.
Well, the CLD's started happening and my PIF payments and the updated credit reports, couldn't keep up with the onslaught.
I think the worse is over....if it ain't, well, I"ve done all that I could do. Screw'em if they can't take a joke.
Good luck, and as others told me, this is a good way to weed out those creditors that are the weakest in your mind.
This seems like a pretty reckless attitude and a path to nowhere good. Credit is not a joke.......once damaged it's a long ways back and uphill all the way.
What?, SD'ing a card is a 'wreckless attitude'. What did I say that was 'wreckless'? Get over yourself.
Are you suggesting that OP should beg, plead for his CL back? OP can surely try to gain their trust back, but don't belittle oneself and beg like a child losing his baby rattle.
I'm not suggesting OP is doiing that of course.
I gave the OP good advice, what's your advice creditmaster?
P.S. I have $150k in CL's still. They can keep their measely $32k.
@racer-x wrote:What?, SD'ing a card is a 'wreckless attitude'. What did I say that was 'wreckless'? Get over yourself.
I have $150k in CL's still. They can keep their measely $32k.
"I think the worse is over....if it ain't, well, I"ve done all that I could do. Screw'em if they can't take a joke"
This is part of what I was referring to.......where's the joke in a CLD?