topic Re: All Accounts Current - Considering Hardship - 35% Util in Rebuilding Your Credit

All Accounts Current - Considering Hardship - 35% Util

pi-r-squared — Wed, 10 Dec 2025 13:03:15 GMT

I have over $70,000 in CC debt on cards from Citi, Cap One, Discover, Chase, Wells Fargo, and Synchrony Bank World Mastercard and I want to enter into their hardship programs BEFORE I get into situations where I could fall behind. Basically, I an CURRENT on every debt and can afford the minimum payments now BUT some of the cards will have their intro 0% APRs expire soon.

I've talked to a Credit Counseling Service (ACCC) and also researched going about this myself by calling each issuer to explain my situation. Our income has dropped by $500 a month due to lost wages and expenses have increased by $500 a month due to a new car ($200 / mo) replacing a totaled one, higher auto insurance because of the new car ($120 / mo), and student loan repayment restarting ($180 / mo). So that is a $1000 monthly swing negative. I'm at the point where I would rather stop using cards and close them in exchange for lower APRs. I've also read about short-term (6-12 months) and long-term plans (5 years).

What is the best way to go about this? Is it safe to call the credit card companies to negotiate on each card? Should I just let Credit Counseling (ACCC) handle it all? I need advice.

Re: All Accounts Current - Considering Hardship - 35% Util

crystal626 — Wed, 10 Dec 2025 23:00:51 GMT

I would post this in the rebuilding forum instead of personal finance.

Re: All Accounts Current - Considering Hardship - 35% Util

pi-r-squared — Thu, 11 Dec 2025 02:42:25 GMT

Can someone change the location of this post?

Re: All Accounts Current - Considering Hardship - 35% Util

ptatohed — Thu, 11 Dec 2025 09:15:40 GMT

I think you have the right mind-set. STOP using your cards - lock 'em away (pay with only debit/cash/checks) - and, yes, do call your creditors and explain your situation. Ask for their hardship programs and/or any assistance they can provide - reduced % rates, repayment plans, etc. Explain that you are current but you are on the verge of not being current without help. Best of luck to you!

Re: All Accounts Current - Considering Hardship - 35% Util

pizzadude — Thu, 11 Dec 2025 15:06:02 GMT

Moved to Rebuilding Your Credit

Re: All Accounts Current - Considering Hardship - 35% Util

pizzadude — Thu, 11 Dec 2025 15:28:01 GMT

If you haven't already, I'd start by listing out the minimum payments & interest rates for each CC, both now and after any promotional rates expire. This way you'll know the exact amount / potential shortfall, and you could start targeting the cards with higher interest rates first.

Re: All Accounts Current - Considering Hardship - 35% Util

BrutalBodyShots — Fri, 12 Dec 2025 05:12:50 GMT

@ptatohed wrote:
I think you have the right mind-set. STOP using your cards - lock 'em away (pay with only debit/cash/checks) - and, yes, do call your creditors and explain your situation. Ask for their hardship programs and/or any assistance they can provide - reduced % rates, repayment plans, etc. Explain that you are current but you are on the verge of not being current without help. Best of luck to you!

Right on above.