What to do of a friend who is running from credit card companies?
He is changing numbers but is available at facebOok
In the recent past I have actually been a certified debt arbitrator. We actually have a close friend that is "running" from his credit card companies. He asked for my help a while back.
The first thing this person should do is talk to the creditors and tell them what his situation is. Many of the understand that with the way the economy is and has been for some time, many people have lost their jobs, as he had, and are not capable of making high payments. Many creditors will lower the payments drastically, just to keep him making some kind of payment.
They may not be willing do this right away, however, he made need to miss some payments first. I don't recommend not making payments, unless you really can't make them and pay your other bills also. All of his credit card companies but one agreed to lower his payments drastically and he was able to pay some of them off.
For some people, my friend in this case, went without any income for several months and used all of his savings. His income now is only minimum wage and it is all he can do to keep up with is rent, car payment and buy food. My friend is actually going to have to file a bankruptcy, which I regret for him, but he has no choice at this point.
As far as him being on FaceBook, I really don't know what that would have to do with his creditors. If they try to contact him by FaceBook, he can block them. I hope I have answered your question.
what is your role in this? why do you want his number? unless you work for the credit card company LOL
by Gary Anderson 8 years ago
I just wrote a hub on this, but what I want is to have a discussion here. This is the issue: the senate voted on 5/19 to forbid the states from setting caps on interest rates for credit cards. The injustice of this is that the state in which the credit cards are issued, namely South Dakota and...
by Luciendasky 9 years ago
I just saw on the news that some credit card companies are going to start researching their customer's spending habits and adjust their credit depending on what they think is happening in the customer's life. For example, if you spend money at higher-priced stores and then go shopping at a cheaper...
by PhoenixV 6 years ago
Can Credit Card Companies Sue You?Can credit card companies sue you for non-payment? What are the legal issues involved with credit card debt and possible lawsuits regarding credit card companies?
by Laura Deibel 7 years ago
Why do credit card companies get info protected by HIPAA?I would sure like to know why credit card companies down your rating when you are hospitalized when HIPAA is supposed to protect that information. Anyone?
by Lizam1 6 years ago
Do credit card companies and credit rating agencies hold too much power?Why has society/government allowed our lives to become "ruled" by credit and credit ratings companies. Try to book anything these days without a credit card and you are doomed. The credit rating agency can...
by Thomas Chopelas 7 years ago
I would like to write a Hub about credit card companies gouging people who are in financial trouble. Are there policies against naming the credit card company and can I trash one in particular?
|HubPages Device ID|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Google Analytics|
|HubPages Traffic Pixel|
|Google Hosted Libraries|
|Google AdSense Host API|
|Conversion Tracking Pixels|
|Author Google Analytics|
|Amazon Tracking Pixel|