Author Topic: Cant pay credit card bills  (Read 3415 times)

unluckyboy

  • *
  • Posts: 6
Cant pay credit card bills
« on: Apr 06, 2009, 10:22:19 PM »
Hi , Can anyone tell me about the steps taken by card companies to recover the unpaid debt. I am struggling at the moment and want to be aware of what might happen next.Regards. :-[

wjtrader

  • Full Member
  • ***
  • Posts: 20
Re: Cant pay credit card bills
« Reply #1 on: Apr 07, 2009, 10:20:55 AM »
Hi, hope this helps...

Companies use different methods to recover unpaid debt, but the best way to start is to contact your creditor and see if you can make smalller monthly payments than they want, alot of the time they do agree.

georgebrosnan

  • *
  • Posts: 3
Re: Cant pay credit card bills
« Reply #2 on: Apr 07, 2009, 11:43:50 AM »
Hi, unluckyboy,  who is the debt with? see if you can get them to freeze your interest and arrange a payment plan. also, is the debt enforcable? i found that with a little digging some of my contracts were unenforceable on my cards and therefore i didnt have to pay them back. (and it didnt go on my credit score).  if you need any more help with putting together a letter let me know
Georgina.

unluckyboy

  • *
  • Posts: 6
Re: Cant pay credit card bills
« Reply #3 on: Apr 09, 2009, 08:57:35 PM »
Hi, At the moment I cant pay anything back. I am intererested in what steps they take and what powers they have to enforce repayment. Regards :(

Re: Cant pay credit card bills
« Reply #4 on: May 27, 2009, 12:55:18 PM »
Hi , Can anyone tell me about the steps taken by card companies to recover the unpaid debt. I am struggling at the moment and want to be aware of what might happen next.Regards. :-[

If you can't negotiate with your credit card company yourself, then you could apply for a debt management plan and let a team of specialists do it for you. They can lower your monthly outgoings, freeze interest and fees. They also deal with all future correspondence from your credit card company.