Hi. I currently have about 35,000 debt on a Cit

Hi.

I currently have about 35,000 debt on a Citicard. I have had the card for 9 years and never been late. I am living the recession nightmare (lost job, short-saled our house, etc.) but are slowly moving back up. Through it all we have been able to keep current on the credit card until now. Back in February, I was unemployed and was told I qualified for hardship program. Now I am part-time employed and they say I am no longer qualified. I want to pay the debt, I just can't handle the payment. My question is, do I have to default on the payments before someone will play ball with me? So far I can't get anyone to talk to me or even ask for my financial information. If I do default, what is the effect and length of time on my credit score?

1 Answers

Vote up!
5
Vote down!
-6

It is not mandatory for you to default. If you default, then it will have a negative affect on your credit report and credit score. I will suggest you to contact your credit card company and ask them them to consider your financial situation and give you a repayment plan which will help you in paying off the debts. You can even negotiate with them for credit card debt consolidation.


Write Your Answer

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
What is the sum of 8 and 4


Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV


Page loaded in 0.451 seconds.