I keep on paying and balances continue to climb

[banthon]

What is the name of your state (only U.S. law)? PA

I keep on paying on 2 credit cards and they keep on going up. I feel that I have paid for the merchandise I bought but with interest and late fees the balances are all over $800. I can't continue to work for them. I need to stop them. How do I do so without handing over my paychecks to them and not have anything to live on. The company I currently work for has just cut my hours to 24 per week and I drive an hour each way. Can anyone give me any advice?

[Antigone*of*Greece]

Originally Posted by banthon

What is the name of your state (only U.S. law)? PA

I keep on paying on 2 credit cards and they keep on going up. I feel that I have paid for the merchandise I bought but with interest and late fees the balances are all over $800. I can't continue to work for them. I need to stop them. How do I do so without handing over my paychecks to them and not have anything to live on. The company I currently work for has just cut my hours to 24 per week and I drive an hour each way. Can anyone give me any advice?

What did your credit card companies say when you called them???

[cosine]

How much interest and fees are being charged each month for each card (on what balance)? What is the minimum payment as shown on each statement for the last 2 months? How much have you actually paid on each card those last 2 months?

You do need to pay at least the interest and fees, plus the amount of new charges, for the balances on the cards to stay at the same level. Minimums are supposed to be greater than the interest, and in recent years, at least 5% of the monthly balance (though not all banks have increased that).