Hi, I’m new to this blog and I’m in Debt almost way over my head I have been searching for A answer and can’t find it so I will just ask.

In A debt management program will they contact your employer? I just started A new job for A company. I have been unemployed for over A year and have used up my savings. I have been able to stay current on my CC payments but it is getting harder to do. And which program would be best. I owe close to $70,000.

Would you suggest looking into Dave Ramsey? He’s got a good plan that you can do yourself, and you will get out of debt.

by law they CANNOT call you at work once you tell them that they cannot call you at work. Next time they call tell them that they can not call you again, and if they do you will be contacting an attorney and the FCC and filing a complaint. This is true, but you have to put your request in writing.

If you tell them by phone not to contact you at your workplace it is only good for 10 days, in which case you send a letter within those 10 days to make it legal.

I have received a phone call from World Financial Network National Bank at my place of employment and he was very rude and told me there was nothing I can do and they he did not have to stop calling or have to prove anything to me…. can any one help I did fax and send a letter today via certified mail with return receipt for validation of the debt and also written notice to have everything be in writing.

Has anyone had to deal with them… please help and give any advice? I am very confused!!!!! I think that simply put – he is breaking the law. There is a Fair Debt Collection law in place to protect you from people like this.

I believe the federal law, the Fair Debt Collection Practices Act (FDCPA), only applies to Credit Collection Agencies, not the actual company that extended the credit to you. Many states, but not all, have enacted legislation that applies to the original creditor.

I am sure you can look up the state information online, but I have a book by NOLO, “Solve your money troubles,” listing the various states. IT is a good book, perhaps your local library has it or can get it on loan. So if World Financial loaned the money or extended the credit, what rules apply to them may depend on the state you live in.

I would pay off the smaller amounts in full, since they should be completely covered with the $1798 you have available. They will be paid off and out of your life.

Then, make regular payments on the remaining one.

I thought closing accounts can hurt you more than help, ie. your debt ratio is affected? It also will affect your credit score. Part of your score is based on Longevity of credit. Your length of credit history comprises about 15% of your score. BUT if you cant resist the use of it and it is open credit… well then you have to decide if keeping yourself out of further financial trouble is more important.

Yes, I would definitely call and see if they will lower your interest rates or take a lesser amount now as a full payment or defer payments… Especially if you haven’t missed payments up to now. Make a case for why you have the hardship you do and why it is likely to continue. Figure out what you are able to pay a month after making this 1798 payment.

As far as order of paying off with what you have on hand there are many ways you could apply the money. If calling your creditors succeeds in getting the payments lowered to fit with in the amount you have… then YEAH! If not… Here are some ways to apply it…

  1. Highest Interest rates first… (saves you the most in the long run).
  2. Smallest First… Makes you feel like you have paid off the most bills and gives you momentum to keep paying. Leaves you $813 on the large bill to pay…
  3. Largest First … You can pay the others off more easily and may feel like you are not under the same load. You will have these left to pay: $270,203, and 350 plus $188 left of the 570.

Make sure to pay your minimum payments on the ones you don’t pay off…… Good luck.. Hope this makes sense.

Since you have enough to pay off several, I would do so.

You can do this 2 ways.

First way: Pay off smallest to largest.

So with the money you have, you would do this. Pay completely off these cards:

  • $203
  • $270
  • $350
  • $573

Then pay $717 – and anything else you can dig up.

Then take all those other credit cards and CUT THEM UP and CLOSE the accounts.

Then you take all the payments from the previos and start putting them to the last card. So if you can send $800 to the large card – you have $613 assuming that your minimum on the smaller cards was $25 each and the larger card $50 – you would then have $150 per month to pay off the larger card. You would have that card paid off in 4.08 months if you pay $153.25 each month it is paid off in exactly 4 months.

The other way would be to pay from highest interest to lowest interest, but in this case I would not do that, because in the above method you get 4 cards paid off in one fell swoop, and the last paid off in 4 months. So you are done with credit card debt.

I would suggest going to the bank to get a consolidation loan of all your cards so you have one lump payment each month just to the bank and usually less interest, If you cant do that call the card companies and say look i want to cancel these cards and just pay them off, do you have any smaller interest rates or a special payment program i can do so im not just paying the minimum each month. and definitely cut those cards up.


Hi all,

obviously this is not my real name but, i am a real person and am looking for suggestions to the question presented below.

i have a total of $2808 due 5 credit card companies. i have $1798 total to pay towards the $2808 total due. the amounts owed the 5 cards are as follows $270, $1413, $573, 203, and 350.

does anybody have any suggestion on how to either payoff or pay down the total due.

what im asking is, do i pay off some of the cards or do i divide $1798 between the cards and pay them down.

any suggestion would be greatly appreciated.

Just got my credit report today. I have a 605. Damn! But the math still shows that I should have the debt paid off by June next year! Yeah, that is of course if we stay at our current pace. We are working on our new business and hopefully it will help us move that date up.

Currently we pay $445 a week on our debt. It will have taken us four years to get out from under our $80,000 debt. It is a great feeling though to know that we toughed it out and cleaned up the mess we made.

Good luck to all of you.