Advice needed on credit cards -- please -- college student/trapped!

What is the name of your state?What is the name of your state? NM

Hi all,

I have approximately $6,000 over 3 different credit card companies. All cards are at or near their maximum.

For the past two months (some are coming up on 90 days), I have not been able to make the minimum payments. I got a letter from the Wells Fargo credit card saying that it has defaulted. Some of these cards are charging me late fees or overlimit fees. They call just about everyday now.

I haven't been returning the calls because I know I cannot pay at the moment.

What should I do? Close these cards ASAP? I do not plan on racking up any more credit cards in the near future. This is debt that I have held for a few years now and I have been rarely, if ever, been behind on minimum payments.

If I talk to the companies calling me, what should I tell them or ask of them?

I'm a 23yo student who cannot pick up much extra work at the moment.

Should I talk to some credit counseling agency or what? I'd like to work towards paying these cards off for good and stopping the calls.

Thanks for any information you can provide. Hopefully I'm hitting this problem soon enough before it gets to be a real tough issue to resolve.


Thanks!
Scott

[Ladynred]

Forget credit counseling places, most of them are scams and CCCS is funded and controlled by ... CREDITORS !!! CCCS places are nothing more than extended collectors for creditors.

You're 3 months behind, you should be able to qualify for a hardship program. Call them each and ask them if you can get onto a hardship program. Don't let them tell you they don't have such a program, they ALL do. They're not available to people until you're at least 3 or 4 months behind. The creditors will close the accounts, if they haven't already. The hardship programs typically run for 6 -12 months. They often reduce interest rates and waive all the nasty fees for the program term. I would try that FIRST, you might be able to at least get back on track paying them until things get better.

Thanks for your reply, LadyNRed...

I'll give the hardship program a try. Late fees are piling up quick!!

Appreciate your help,
Scott