• http://na.com Ernie

    Kira – what is wrong with you – you are what’s wrong with America, people spending beyond their means. Stop spending!!!!!!!!!!!!!!!!! Pay your stuff back, and take a deep breathe. You personally are a true source of our economic troubles. Thanks!!!!!!!!!!!!!! (sarcasm)

    • Kira Botkin

      Wow, thanks for the constructive, helpful comment! I’ll be sure to go back in time and un-spend all the money that kept us fed and housed during long stretches of unemployment.

  • KIm

    I think it is great that you are taking responsibility for your debt and paying it off.

    The first commenter said that “you are what’s wrong with America” I do not agree. You are taking responsibility.
    I believe what is wrong with America and the world is that so many people do not and will not take responsibility for themselves and or their actions.

  • Jay

    The monthly minimum on my Citi Card became too much to handle, so I called them and told them point blank that I couldn’t afford it and if they wanted to get paid they needed to work with me. That did the trick. I locked into a payment plan which reduced the interest to 0%. I had to close the card and can’t use it anymore, but the payment is manageable now and no interest means my payment is actually making a dent in the balance.

  • NG

    Trying to negotiate with Bank of America. Talked to 3 different account reps in the financial dept and the answer was the same. You can’t afford to pay the monthly payment. But I have paid the amount each month, never missing a payment. This month I sent them half of my monthly due $950…. Paid $500.The other half is interest due. I want to pay off the balance but all I am asking BOA is to reduce my rate which is 18.99% an affordable rate. I have a large balance of $40,000. This card has kept me alive for the past 2 yrs., paid my real estate membership dues and other real estate related payments, doctor bills and so on. As all real estate agents, I am self employed. No benefits. No unemployment comp….no help for the self employed!! And no family member that could help financially. I have taken a side job to help me while the market gets better.
    Any suggestions out there dealing with BOA.

    • Kira Botkin

      Well, as I stated and the other commenter stated, the only way we could get our interest rates reduced and get on a payment plan was to have the card closed. So if you need to keep using the card, that is a sticking point. You might try applying for other credit cards if you need to have credit, and then calling BOA and asking to be put on a payment plan with the card closed. But they have no incentive to reduce your interest rate if you keep paying them and keep using your card. You could also try getting a loan from a regular bank, hopefully you have a home or car you can use as collateral, and use that to pay off the credit card (or at least some of it.) And the last resort of course is stopping paying them altogether for a few months and see if they’re more willing to negotiate then. Bankruptcy is also a last resort. Both of these options will do serious damage to your credit.

  • Rick

    Thank you so much for this article! I moved for a job that then fell through and ended up racking up credit on my chase card. By the time I realized how much trouble I was in the minimum payment was so high that it just kept me in the perpetual cycle. I went into chase today and they cut my apr down to 6 instead of 20 and cut my minimum payment almost in half! My old payment would have payed it off in 27 years! Now I’ll be paid off in 5 and actually be able to afford paying it! And I never would have known this was an option if not for you.

  • john cartner

    Credit card debt is an example of unsecured consumer debt, accessed through credit cards.Credit card and Debit card are commonly used for shopping but it is not safe because any person can hack this cards through password.

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