I can’t imagine what a difficult time you have been through

There is hope though. Remember to pay what you need to survive before feeding the wolves that are at the door. All the credit card company will do is call and harrass you, at least for a little while. And honestly, medical bills are less likely to sue or get nasty with you than credit card companies.

If I were in your shoes, I would try to settle the credit cards on my own and negotiate with the hospital for a low monthly payment. A garage or ebay sell of all the stuff that you don’t truly need to survive is a good place to start in digging out of the hole. We sold our boat, almost all of my nick-nacks, clothes we didn’t wear & books we had already read. We only made 600 bucks or so but getting rid of all the stuff, helped us focus more on what we were doing. A weekend or part time job for six months or so would really help as well.

I will be praying for you and your family. Let us know if you have any other questions. Posting your budget/income might help people better help you see what options you have.

From my own personal experience Capital One will put the settlement in writing IF you fax them an offer.

Just write down the terms you agreed to and fax for confirmation…. something like:

As per our conversation on (date) I am prepared to offer the following:

(offer here)

Please fax acceptance of this offer back ASAP so I can continue with this offer.

Please understand that this offer is not admitting to anything. This offer is only a “good faith” on my part to settle this long disputed debt.

Your Name
Your FAX Number

As for Capital One sending a closed letter…. when “toothpicks” freeze over! I settled in December and they adjusted my balance to reflect a reduced balance even though I have a signed acceptance and a cancelled check. Without these 2 items I would not have a leg to stand on.

If you learn nothing else PLEASE learn to

GET IT IN WRITING!!!!

I am having a capitol One party with my husband this very moment!! Thank God thank God. After back and forth phone calls and faxes I just mailed a check- virtually our entire tax refund for 4900. The debt- 7100. PAID IN FULL! Maybe next year or the following that tax refund will go straight to my roth I will be starting. I cant even express how wonderful this feels. All over the envelope I wrote “goodbye capitol one’ ” goodbye Dana and Pariser law office” and “Freedom!” Next stop mbna- 2 accts- then the ‘hell’loan as Dave Ramsey says.

We have literally come back from the pit and have a very long way to go. I have made some overtures to mbna and will start faxing a hardship request- dh is still very much disabled and out of work following the 2 strokes and open heart surgery. But babysteps, babysteps.

Again, you guys rock!

Only pay what you have to in order to live

Only pay what you have to in order to live, keep a roof over your heads. Cut all non-essential spending; don’t pay any credit card or medical bills you have, they are secondary to keeping your home. Do keep your utility bills up to date, and work on getting your mortgage and equity loan up to date.

Do you have any family that can help with either the kids (so you can get a 2nd job for a bit) or with essentials?

If you get calls from creditors, don’t talk with them (unless it is the mortgage or home equity company); they can’t get blood from a stone and you don’t need the anxiety the calls will create. If you talk with them, don’t make promises, just tell them you have no money. If they sue you, they can’t take your home; they can only get about 10% of your gross via garnishment and that’s after several months time (It takes about that long to get the judgment and file the income execution). Hopefully by then you would have turned some of this around.

You could consider selling your home if you can get anything extra out of it over the mortgage and equity loan, but then you also have to consider what it would cost you monthly to replace the living space considering the kids. Not sure if this would work for your situation or not.

Hope this helps some.