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I am behind 4 months on my credit card and student loan payments. I was unemployed and?

now I work only part time. I am currently seeking a full time paying job so that I can pay down my bills. But what do I do in the mean time? I have bill collectors calling daily by the hour. I don’t answer the phone because I have no money to give them. There is no way I could pay the amount that I am behind, or even a minimum amount at the moment. I don’t know what to do to get myself out of this mess. Even credit counceling places aren’t that helpful because most of the time the credit card companies won’t accept the minimal amount they are offering for you to pay each month. I wish I could get a consolidation loan to put everything on one bill, but I can’t since my credit got messed up with all of this. What to do???

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    author

    I Speak the Truth
    Posted 2 years ago

    If you are in my state I'll loan you the money needed with a collateral ex. car, house, electronics. Email me.

      author

      Chris L
      Posted 2 years ago

      Ignoring them is the worst thing you can do. Speak with them and tell them your situation. They want to get as much of their money back as possible and will be willing to help you achieve that for them.

        author

        googie
        Posted 2 years ago

        Neglecting to respond to creditors is one way to find your name on a bill collector's list. So contact all of those to whom you owe money, tell them the circumstances and get three part time jobs , if necessary. You need funds, not excuses, not consolidation loans, not " pay you when I get money". If you are not honest about your finances, will you ever be seen as " honest" ?

          author

          webcrafter
          Posted 2 years ago

          You must write a letter to the debt collection agency to ask that they stop calling you. Once an agency receives your letter, they may not contact you any further except to inform you that there will be no further contact or that their agency or the creditor intends to takes some specific action. A web site with good info is: http://www.oag.state.ny.us/consumer/tips/debt_collectors.html Once you have done that, contact the companies you owe money to and make start making payments - a little is better than none and they would rather get the money over a longer period of time than spend money on lawyers or report it as a loss.

            author

            SDD
            Posted 2 years ago

            Try submitting an application to Prosper http://www.prosper.com/join/loan/CyrusT

              author

              gracebow13
              Posted 2 years ago

              Let the credit cards go to collection because, for example Visa will sell $1000.00 collection that you owe them to a collection company for about $100.00. So then the collection company now asks you for the $1000.00 which would profit them $900.00. However, you can negotiate with the collection companies and settle your debt for 50cents on the dollar, or like the example from above; settle for $500.00 instead of $1000.00 and save yourself $500.00. As for the college loan, they are very lenient with students so feel free to call the college loan company and fill out their standard financial hardhip forms. GOOD LUCK or for more advice email gracebow13@yahoo.com

                author

                Jtrax
                Posted 2 years ago

                I don't know what you could do about the credit cards because I never use them, but you can call whoever you received your student loans through. They can put a hold on the money you owe them until you get back on track. I know people who have done it, but things will only get worse if you don't call and let them know your situation.

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