Legal Question in Credit and Debt Law in Florida

I lost my job and cannot pay a closed charge account with a high balance until I find work. Should I tell them (1) I cannot pay until I find work or (2) I will attempt to pay the interest until I find work (3) what? How much will this hurt my credit?


Asked on 4/29/10, 6:02 am

1 Answer from Attorneys
Angelo Marino Angelo Marino Jr. PA

It is good to try to negotiate a new payment and even a new interest rate if you can. Do not enter into an agreement where the co can take money from your account or enter into a written agreement that later could cause you problems. Obviously, the inability to pay hurts one's credit, but it is impossible to say to what extent. Want to know the law? Sign up for our free newsletter on varies areas of the law by sending an email to [email protected] and requesting the newsletter, or go to www.ConsumerLawyerHelp.com

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Answered on 5/04/10, 6:15 am


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