OK. So for those who don't know. I got myself into a bit of credit card debt; About $8300 worth and I just got a bill for over $530.
I'm unemployed and it seems that no one wants to hire me. The job market in Philly sucks. I have the experience that everyone wants but I don't have the degree. I guess that 4 years of clouding your brain with malted hops and bong resin is that much more important than actual business/real world experience.
I've been checking into debt relief services but so far they will only help me if I have multiple debts that I can consolidate and I only have the one card with a high limit. The only other option (if I can't find a job quick ) is bankruptcy which is a lengthy involved process with lawyers and court and I don't want that on my record but if things don't shape up...
Posted by slaw at September 17, 2003 09:21 AM | TrackBackUnsolicited advice from someone you don't know:
Have you contacted your credit card company and tried to negotiate with them? I'm sure if you mentioned that you are considering bankruptcy, they'll work with you to get the interest rate down and the monthly payments down to something reasonable. They'll get more morey that way than if you declare bankruptcy and even though it will take you years to pay off the debt, you'll avoid having bankruptcy follow you around for the rest of your life. I know they say it's only for seven years, but it's not like after the seven years is up, you have sterling credit again. I'm no credit expert, but I look at loan aplications credit reports everyday, so I just thought I'd give you my thoughts.
Thanks,
I'm trying to work with them now but half the time when I call I get an automated message saying that all agents are busy and they're sorry they can't service me at the present time...click.
Be careful what you pray for. As one who has a short temper and prays for patience... I don't know... I think God has a sick sense of humor sometimes. Well He at least teaches you what you want to know and I hope He has a chuckle over it. It's got to look pretty absurd from His point of view.
Hey Patience is a virtue that I don't possess... Lord teach me patience.(Grin) I'll give you what you want, but would you be asking if you knew what you were asking for.
I hope I would
Enough Rambling.
Thanks for the advice Mysterious Stranger.
Sorry weird mood.
Posted by: ColeSlaw at September 18, 2003 10:42 AMFrom my experience, the debt counseling service I used was able to negotiate lower interest rates and lower monthly payments, but, unlike you, I had more than one credit card. I used CCCS (http://www.cccsintl.org/) in MD and they were great. So you might check them out and see if they have an office for PA.
Posted by: Bill Crawford at September 20, 2003 12:00 PM