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need some major help

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3K views 19 replies 13 participants last post by  Karla 
#1 ·
just got a call saying they will be cutting my husbands work hours, yippee. my main concern is keeping the roof over our head and gas in the truck to get back and forth to work. everything else is negotiable (i just called dish and dropped that, and im getting ready to ditch our land line phone too) but that leads me to our big problem. we have a cc that is going to eat us alive if i figured my husbands new pay correctly. is there any way i can get the payments lowered? what do i need to tell them? how do i tell them that if they want to continue getting paid they need to lower my payments??
 
#2 ·
Check and see how much interest you are currently paying. If it is too high, I would call and ask them to drop the interest after explaining your prediciment. If they won't I would find a 0% or lower interest rate credit card and transfer the money. It will help to cut your monthly payments.
 
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#3 ·
:yeah:

I'm sorry to hear that they're cutting your DH's work hours.
 
#7 ·
Sorry his hours got cut :(

I would just call them and explain the situation. Ask them how much the payment is going to be monthly and then tell them what you can pay. I agree that they would be happy with some money vs. no money. And calling shows them that you're willing to pay and not just avoiding paying. I would also keep track of who the person's name that you talk to as well as any other details from the conversation.

Good luck; I hope they are willing to work with you :goodluck:
 
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#8 ·
Im sorry to here that. I feel like we just keep getting hit with more and more cut backs and layoff's. You are wise to be proactive and take care of things right away, so many people wait till the last minute costing them valuable money.

I dont' know what to say to the credit card company but try just calling them and telling them the situation. Good luck.
 
#9 · (Edited)
It never hurts to be proactive and call. They might not "work" with you until you are late on payments, but once again you won't know until you place that call.

Personally, they didn't work with me until I was past due by 60 days, but that was almost 5 years ago and today's econmic climet is different and these credit card companies are going to used to these type of calls, as unfortunate as it is.

Whatever you do, DO NOT allow them access to your checking account for automatic debits. I personally did this, and had no problems, but have heard many horror stories of these companies cleaning your accounts out and since you authorized access there really isn't any recourse. The only exception to this is if you set up a separate account and just transfer in the agreed upon amount into that account but keep you other funds in a different account.

Best of luck to you.
 
#17 ·
Whatever you do, DO NOT allow them access to your checking account for automatic debits. I personally did this, and had no problems, but have heard many horror stories of these companies cleaning your accounts out and since you authorized access there really isn't any recourse. The only exception to this is if you set up a separate account and just transfer in the agreed upon amount into that account but keep you other funds in a different account.

Best of luck to you.
i forgot to mention, im glad you said something about this. when they told me what my new payments would be, he asked me to get my checkbook so i could go ahead and make my first payment then. i told him no thank you, my payment isn't until the 17th and i would be paying them when payday came the friday before. sneeeeky bugger.
 
#10 ·
thank you all for your help. i emailed them late last night and told them what the problems was and they emailed me back saying they understand and if i give them a call they would try and work with me. but i agree, i would assume they would want SOME money as opposed to none at all.
 
#14 ·
Yay!! Great job being proactive about this! Its amazing what they'll do when they realize that you'll quit paying them if you have to. I'm so glad that the payments are lowered - how are you financially now that this big scare is taken care of?
 
#16 ·
how are you financially now that this big scare is taken care of?
hmmm not great, but much better. hes making about half the pay he was this time last year. it use to be 'oh, your husband works for michelin. no wonder you can be a stay at home mom' now its 'oh, your husband works for michelin. im sorry to hear that.....' many of the other michelin plants are alot worse off and have even shut down, so we're at least lucky enough to still have a job to go to, for now.
 
#15 ·
That is great news. It is nice to see a credit card company actually working with it's customers. I am glad it is working out for you. I hope your husband's hours are back to normal soon. :)
 
#19 ·
Sorry to hear about your DH's hours being cut but I agree with calling the CC company about lowering the interest rate, if not find a 0% one and transfer to that one.

I am sure though if you explained your situation, they might be willing to work with you if you haven't had any issues (late payments, no payments, etc.) with this current CC.
 
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