Credit Card Center Advertiser Disclosure

Posts: 128
Registered: ‎12-19-2007
0 Kudos

The "pay off your debt in x years" guides..

I keep seeing these all over the internet. Does anyone know if these programs are woth the money? I doubt it, personally, I'm sure there's all the info I need here on this forum.


So I've come across a crisis here, and am in over my head. Our living situation changed, and we now have to pay out $650 more a month than we had to before. As of now, all of our payments are caught up, but we're soon to be in big trouble. That extra $650 puts us exactly to our income, and that's assuming that we dont buy food, or diapers for the kids.


Husband can't work more hours to make more, job wont let him, and theres not enough hours in the day for a second job. I can't work because it would cost more in daycare than what I would make from working.


So, the only solution for us appears to be to not pay a few of our credit cards, so that we can eat.


Does anyone know if credit companies really will work with you on payment amounts? I'm very doubtful that they would.


I currently have accounts with capital one, hooters, tribute, a small account with credit one, and orchard. Both my husband and I needed to have major dental work done in the last few months, and no insurance, so our cards are all maxed.


Hooters, and tribute are the largest payments that I make. If I wrote a sad sob story letter to the companies, is there a chance they would reduce payment amounts or interest?


We can't qualify for a consolidation loan now, because our cards are maxed. We were well on our way to rebuilding our credit, and had finally gotten up to 630-650 ficos, when we got bombarded with dental bills, and now a change in living situations.


I really dont want to defauly my payments, but I dont see that there's much choice at this point.


I really appreciate any advice you guys can give!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.