Legal Question in Credit and Debt Law in Texas

Just one credit card

In college, I ran up a C/C to about $13,000. I recently lost my job & couldn't make minimum payments & they wouldn't reduce the payments, so my interest rate went to 30%. They want more in a month now than I make. I borrowed $ to send them at 1st but now it's been about 60 days since I sent them anything. The $13K has become about $18K w/ interest. My mom said she might be able to help pay it off if I can get them to drop some fees/interest. So far they are not interested. Any hope?


Asked on 11/08/07, 1:50 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Just one credit card

Your efforts are laudable but you are caught in downward spiral of increasing interest, rate of interest and late charges. You'll never catch up unless you get a bonus at your next job or win the lottery. Let them sue you for it and consider bankruptcy. You won't be the first and you won't be the last.

Read more
Answered on 11/08/07, 2:07 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Texas