topic Re: Need some support!! in General Credit Topics

Need some support!!

Simba13 — Mon, 07 Nov 2022 03:49:41 GMT

Hi all, do to a medical emergency I have maxed out most of my cards. I have desperately tried to keep up with payments for over a year but I can no longer keep up. I will need to start leaving some high untreated high payment cards unpaid. I am hoping that at some point soon creditors start calling me to plan a do able repayment method. My question is.. if I continue to pay some accounts that are from banks not associated with a bank that I stopped paying do you think I risk losing that card as well, or is one separate from the other? If there is a chance that all cards are closed regardless of which I am paying and which I am not l, I might as well stop paying all of them and hope for a good payoff quote from the creditors. This is so scary and out of character but I it's become hard to keep up with these interest rates? Thank you in advance

Re: Need some support!!

tcbofade — Mon, 07 Nov 2022 03:58:01 GMT

If you are struggling to make your payments, don't wait for them to call you.

You call them and ask for help.

Various lenders have hardship programs and can work out payments that you can make.

Good luck!

Re: Need some support!!

FireMedic1 — Mon, 07 Nov 2022 14:04:30 GMT

This ^^^^^^^^^^^^^^^^^^^

With the economic times they are willing to work with you than lose $. They may restrict the card depending on the lender until its under control. But thats fine. No more swiping for now until your caught up again. Hope recovery went well.

Re: Need some support!!

SouthJamaica — Mon, 07 Nov 2022 14:46:02 GMT

@Simba13 wrote:
Hi all, do to a medical emergency I have maxed out most of my cards. I have desperately tried to keep up with payments for over a year but I can no longer keep up. I will need to start leaving some high untreated high payment cards unpaid. I am hoping that at some point soon creditors start calling me to plan a do able repayment method. My question is.. if I continue to pay some accounts that are from banks not associated with a bank that I stopped paying do you think I risk losing that card as well, or is one separate from the other? If there is a chance that all cards are closed regardless of which I am paying and which I am not l, I might as well stop paying all of them and hope for a good payoff quote from the creditors. This is so scary and out of character but I it's become hard to keep up with these interest rates? Thank you in advance

Yes you stand to lose all cards. My advice is to consult with a local bankruptcy lawyer.

Re: Need some support!!

Centurion_Dreamer — Mon, 07 Nov 2022 16:18:54 GMT

Yes, most banks are using (monthly/quarterly) soft-pulls to stay updated on your overall payment history.

It may take some time for them to figure out that you have problems with cards from other banks, but that does not help you.

You need a long-term strategy to pay everything off (or at least pay the minimum on every card).

So I recommend that you take the initiative and call the banks before they will call you.

But perhaps a professional debt counselor is the better idea - perhaps there are some options regarding the origin of the debt: medial emergency.