Does anyone else freak out when you get a phone call and the caller ID says, "Card Services"?

[shadowrider]

I have one credit card that has an exceptionally, unbelievably high interest rate of 36% (due to bad decisions I made years ago) and $2850 on a $3000 card, and they call literally 20 times a day. Cell phone and home phone. They are relentless.

Anyway, I called them and told them I'm willing to make arrangements to get the card caught up. I'm "only" 2 months behind. I used to have 3 jobs but lost one when the business closed (it was a mom and pop, I was the "courier" for the company). I have recently however, gotten another job that will allow me to quit one of my two other jobs. There is a slight raise with the one job over two of them but I'm keeping the last job because it pays more.

So, I'm talking to the guy, told him i got a new job and he starts telling me, "No arrangements. You're working, we want our money". (That's a disadvantage of having a high interest credit card, they WON'T work with you). If I could have crawled through the copper lines, I would have, then strangled the guy. I pleaded with the guy to give me a break because I'm starting a new job and haven't gotten paid yet. He gave me an additional week past my first pay date, but charged me $40 to do it. (Because I'm going past the due date, it's a "late charge", again. Yes, they kick you when you're down).

This is NOT, NOT a call for help. I am NOT asking for help. I got myself into this mess and I'll get myself out.

I was just wondering if others out there are experiencing the same thing.

[apcalc]

1. I block 'em.

After I tell the electronic voice to drop dead.

[AgerolanAmerican]

2. It's a trap

Tell them you won't pay and they'll have to write it off.

Then block their numbers and ignore their mail.

Trying to work with sharks like that never turns out well. They'll squeeze you dry and then still stick you for whatever's left. The principal will magically never go down.

BK it out if you have to. They'll pull $100k out of you for a $3k debt if you allow them to.

Do NOT let them control your life. The 20x calls/day thing is unlawful and you should start recording the times they call.

I was in that situation once. As much as I tried to honestly pay it down they pulled every trick in the book to keep it perpetual. Eventually I realized it was a no-win game, and stopped playing it.

Look up "debtor's rights" and find the laws specific to your state. You may be able to sue them and make a profit out of the situation.

[dixiegrrrrl]

3. Play your cards right ( no pun intended) and you can sue them.

There are rules about what debt collectors can and cannot do.
These guys usually break them.
You can document the calls, date/time/person and if they violate the rules ( times when they can call, who they call, etc)
you can file for money in small claims court.

If they are debt collectors and NOT the original credit card company, it means they bought the debt for pennies on the dollar.
They have to play by the rules.
Those rules were passed thanks to Elizabeth Warren, btw.
Look the rules up online, keep a copy, and during any calls, pepper THEM with questions about who is calling, what their name is, company name.
The rules say if you request it, they have to stop calling you, and only contact you by mail...

get tough, stand up to them. They are playing on your fear and insecurity, but YOU have the power to take control.

[Fresh_Start]

4. have you tried credit counselling services?

if you can find one, they should be free to you
they will negotiate with the creditors
and then the creditors won't call you

[shadowrider]

5. From everything I've found out

credit counseling services work FOR the companies calling and it's a bigger hit on the credit report (since it says you can't handle your own debt).

Thanks for the tip, but I'm willing to work this through.

I was just curious if other people have been receiving calls like this.

[Fresh_Start]

6. They do not work for the creditors

and the FICO score does not treat credit counselling negatively: it is not a bigger hit to your credit report

"mpact on your credit score
There was a time many years ago when paying off a credit card through a debt management program could lower your credit scores. The credit card account was reported to the credit bureaus as being paid through non-profit financial counseling. That notation was considered negative.

That is not the case today. Going into a debt management program is benign to your credit scores. And, while the credit card issuer is being paid through the program they will report you to the credit bureaus as being “paid as agreed,” which is also good for your credit scores. When you exit the program you do so without any credit card debt and solid credit scores, which has to be a great feeling."
https://www.creditsesame.com/blog/does-credit-counseling-hurt-my-credit-score/

AVOID DEBT SETTLEMENT...that is different and that will hurt worse.

How does credit counseling affect my FICO® score?
Published 01/08/2006 01:22 PM | Updated 05/20/2015 03:24 PM
How will enrolling in a debt counseling program affect my FICO score?

Using a credit counseling service and having this situation reported in your credit report should not have any negative impact to your FICO® score. However, the actions you take based on the recommendations of a credit counselor may sometimes affect your score. For example, choosing to make partial payments or agreeing to settle for less than the full amount on accounts may be regarded negatively by the FICO® scoring model. Additionally, any late payments occurring either before or after you began the plan may also be regarded negatively.

http://webcache.googleusercontent.com/search?q=cache:http://myfico.custhelp.com/app/answers/detail/a_id/70/~/how-does-credit-counseling-affect-my-fico%25C2%25AE-score%253F

[Fresh_Start]

7. FTC recommendations on how choose a credit counselling service

https://www.consumer.ftc.gov/articles/0153-choosing-credit-counselor

[malokvale77]

8. You're right...

credit counseling services are a ripoff. Most of them are working on debts (unsecured) too old to collect on.

Either don't answer or tell them to fuck off.

[shadowrider]

9. Well, some good news

After speaking with relatives, my brother has decided to pay off the credit card bill for me. I have to repay 1/2 of the normal payment every month, zero interest, until I save up and pay him back 100%.

The family knew nothing of my situation and got upset with me for not coming forth earlier.