• Date Started: May 7, 2006
• Entries: 1
• Comments: 5
• Total Visits: 13,040

High interest rate on Credit cards

5 Responses to “High interest rate on Credit cards”

1. MsSuperSaver Says:
   May 7th, 2006 at 04:19 pm 1147018757
   1147018757
   Hi Poppytrail, Welcome to this great blog site. Im new here too. The people here are just wonderful and reading their blogs really will give you new ideas and new hope for your financial situation. Have you tried calling your bank and asking them to lower your interest charges? Talk to the branch manager and tell him your situation (a little sympathy on their part is a good thing for you). They would much rather help you so that you can pay back what you owe than to have you file bankrupcy and they get nothing. Best of luck!

2. katwoman Says:
   May 7th, 2006 at 05:56 pm 1147024563
   1147024563
   A lot depends on the credit card you carry. Some have a type of protection for "life events" such as yours for a fee and some cards just provide it at no additional charge.
   
   Do you keep any of the materials the card sends you. It's usually spelled out in there. Otherwise you may have to call and take your chances.
   
   Good luck and let us know how you do.
   
   

3. contrary1 Says:
   May 7th, 2006 at 06:13 pm 1147025602
   1147025602
   Wow, this is a tough one..... Wisdom and strength to you as you go through the next few months!
   
   If possible, I would go in person to the bank. Phone calls are way to easy to dismiss. Take a witness also......... Plead, beg, whatever you can come up with. Letter from your physician, letter from past employer, lay out the situation and ask for the banks advice. See where it takes you.
   
   My next step would be to sell off anything I owned that had any possible re sale value. Even if it was only $10.00. I would keep the money I made and put the bare minimum towards the cc's.
   
   Assuming you have already transferred the cc debt to the lowest or zero rate cards??? Not sure this would be possible if you're not currently working.
   
   This is the time to access any community based assistance you can find. Food banks, discount rates for utilities, etc. Each bill you have, try to get the amount adjusted. The worst they can say is no way. The best may surprise you.
   
   Take care!

4. Jane Says:
   May 8th, 2006 at 06:25 pm 1147112728
   1147112728
   I know you must be feeling overwhelmed right now - but in your situation I would not worry a lot about the credit cards if I could help it. They are the "squeaky wheel" so you're trying to keep them greased, so to speak, but they are unsecured debt from yesterday. For today, make sure you have the food, shelter, utilities funded and if there's money left, pay on a credit card. If you can't make the minimum, then you can't make it. Your credit will take a beating, they will call and harass you, but you will make sure that you and your children have food, shelter and the necessities of today.
   
   It sounds to me like you've got enough to worry about right now that the credit cards just may be a no-go for now. It is hard, but it isn't the end of the world if you find yourself somewhere down the line having to file for bankruptcy. It is for people in situations like yours that the solution exists. But for today, take care of what you can, making sure that your first priority is current need.

5. markio26 Says:
   May 10th, 2006 at 04:27 pm 1147278421
   1147278421
   all of the above advice is great.... sorry to hear about your illness.. my cousin pat in fla. has rectal cancer also...but, it is treatable... try not to worry yourself... you need someone to help do your business, any kids, or relatives???? i would call legal aide and set up an appointment, let them sort this out...look in the yellow pages for family services, call them and get advice also... best wishes. thanks for the post.

Leave a Reply