Okay,I need some credit card advice please?

Question

So, here is the deal...Im two months late on my payments, and there is no way possible that I can pay them back until the end of Septmeber. By then, I will be able to pay off all four of them in FULL by the end of the year. My husband is getting deployed so we will have some more money then. Anyway, right now I just had to buy books for school, and Im also going back to live with my parents while my husband is gone because I am way too scared by myself.

Here is what I owe

capital one-600

capital one-400

target-300

walmart-200

Answer 1

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Answer 2

the second poster is right, for this amount of money they won't let you work with them. Maybe if you had 20,000 in debt and no income, but in this situation, they know you will eventually get out of it, so they usually won't try to help you.

Not sure about the store cards, but capital one may be willing to lower your interest rate. But you would definitely have to pay the minimum payment each month otherwise you will automatically be put into the default rate. The employee would get in big trouble if they kept lowering your interest rate, and you kept not sending in your minimum payment. So, if you can send in the minimum payment each month, try calling them and asking them to reduce your interest rate.

If you do not have a good record with them however, it is doubtful they will lower the interest rate for you. If the first person says no, keep calling in and asking. If they keep saying no, it is either company policy to not allow it, or your record with them isn't good enough. (I have never worked with Capital One, so I don't really know their exact policies about lowering rates.

Answer 3

There is no "trying to work with them".  They need the minum payments.  If there was working with them, everyone would do it.

I had the same discussion with my now wife when we started going out.  At least make the minimum payments for each card.  With only a few undered on each card, that shouldn't be more than $100 per month for all of them.  If you do not, you will get late fees that are huge and add up fast.

If that does not work for you, then talk to your bank.  See if they will give you a 3 month loan.

I also recommend condensing your cards down to just one you actively use and a backup incase something happens with the first.  Make sure it is a card that gets you rewards.  Then if you get into trouble, there is only one minimum fee you need to pay.

I personally had problems when I had capital-one.  Discover is the best card I ever had but they are not accepted everywhere like visa and mastercard.  I now use chase to get airline miles but I had to ask to be put on their do not call list.

Answer 4

I am sure this is not what you want to hear.  I am a credit consultant and can help you.  It will take some doing but I believe I can help you.  Tell me what happens at the end of Sept.  God Bless