So yes, I've proven to myself that I can't handle credit. Had a 7 back in the mid-1990's, then slowly got myself rebuilt. Slowly but surely got myself a little overloaded through the last several years--but I could make my payments. Then about a year ago some things go a bit bad with my wife's income. Suddenly I'm finding myself having to cover a bit more than I possibly can, and I'm drifting behind and maxing out credit cards. Finally, i decide it's time to start calling creditors before things really slip. Well, to make this short(er) and sweet(er), NOT ONE of my creditors, be they credit cards, car loans, RV loans, etc. was willing to work out a single thing. Many of the cards had been increasing my interest rates due to my credit starting to look a bit thin (maxed cards, few late payments); but no one wanted anything to do with lowering rates or doing something to lower monthly payments. Oh, but if I'd actually been behind by a few months some of them said that THEN I'd qualify for a special 'plan' of some type. Yes, I tried Consumer Credit to put together a plan--turned out that would cost me MORE each month; yes, my debts would have been paid off in about 4 years, but still, I needed to reduce outgo right now!
All stupid! I'd like someone, particularly someone involved in the credit/collections process to explain to me how these companies being jerks (some just downright rude), and refusing to work anything at all out with me, should make me feel at all bad about filing Ch 7 and discharging the whole ball of crap? I actually took some degree of JOY when I simply stopped making my little minimum payments, and they started calling me. Best was Ford Motor Credit. They said I was 3 months short of being able to qualify for a rewrite of my loan to reduce the payments. I had a 0% interest loan with them, and was even willing to rewrite WITH a modest interest rate as long as we could drop my payment by around $100/month. "No, you don't qualify." When I finally brought up that I was considering filing a bankruptcy, the rep told me "not to threaten them with bankruptcy." Told her it wasn't a threat, it was the reality of the situation, and that's why I was trying to work something out with them and other creditors. She reminded me when my next payment was due, and terminated the phone call. How nice. So I stopped paying their butts too, used the cash to hire an attorney a few months later. Of course they started calling me after my first missed payment--I asked them what, exactly, they didn't understand about the call I'd made previously. So then, once I file Ch 7, I was in a fix. We needed 2 cars in the household, and I wasn't sure if I could get something else financed. We made Ford credit an offer to reaffirm the loan, at the same terms, and to pay the arrearage within 30 days. They absolutely insisted that the arrearage amount HAD to be paid within 10 days or they would get the stay lifted and take the vehicle. My lawyer pleaded with their lawyer to just give us 10 more days (20 total) to bring the loan current. They wouldn't budge. Then, I got another car financed after my 341 meeting, and we told them that they could have their car. Well, that was nearly 2 months ago and their car still sits in my driveway! So, to all of them who wouldn't work with me: Ford Credit, Wells Fargo, Dell financial, Chase, Household Finance, AppliedCard Bank, GE Money, and a few others--you can all take a flying leap!
All stupid! I'd like someone, particularly someone involved in the credit/collections process to explain to me how these companies being jerks (some just downright rude), and refusing to work anything at all out with me, should make me feel at all bad about filing Ch 7 and discharging the whole ball of crap? I actually took some degree of JOY when I simply stopped making my little minimum payments, and they started calling me. Best was Ford Motor Credit. They said I was 3 months short of being able to qualify for a rewrite of my loan to reduce the payments. I had a 0% interest loan with them, and was even willing to rewrite WITH a modest interest rate as long as we could drop my payment by around $100/month. "No, you don't qualify." When I finally brought up that I was considering filing a bankruptcy, the rep told me "not to threaten them with bankruptcy." Told her it wasn't a threat, it was the reality of the situation, and that's why I was trying to work something out with them and other creditors. She reminded me when my next payment was due, and terminated the phone call. How nice. So I stopped paying their butts too, used the cash to hire an attorney a few months later. Of course they started calling me after my first missed payment--I asked them what, exactly, they didn't understand about the call I'd made previously. So then, once I file Ch 7, I was in a fix. We needed 2 cars in the household, and I wasn't sure if I could get something else financed. We made Ford credit an offer to reaffirm the loan, at the same terms, and to pay the arrearage within 30 days. They absolutely insisted that the arrearage amount HAD to be paid within 10 days or they would get the stay lifted and take the vehicle. My lawyer pleaded with their lawyer to just give us 10 more days (20 total) to bring the loan current. They wouldn't budge. Then, I got another car financed after my 341 meeting, and we told them that they could have their car. Well, that was nearly 2 months ago and their car still sits in my driveway! So, to all of them who wouldn't work with me: Ford Credit, Wells Fargo, Dell financial, Chase, Household Finance, AppliedCard Bank, GE Money, and a few others--you can all take a flying leap!
- COMPLETED
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