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i'm having a hard time making the minimum payment on several credit cards. what happens if i just send a partial payment?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi gregory.

Welcome to the forum. If you cannot afford several credit cards then why have you taken so many cards? You are struggling to make the minimum payment on several credit cards. So the partial payments will be lesser than the minimum payment…… right. In that case, you will have negative affect on your credit report and will require to pay interest on the unpaid debts. I think you should go for debt consolidation.

Best of luck,
Larry

gmakerley · Posted: Thu Aug 28, 2008 6:27 am Post subject:

gregory, you ought to first contact each of your creditors to determine if they would be willing to accept partial payments.

if you can get a consolidation loan from some lender, be certain that in doing so you destroy the cards you're paying off.

you can always consult with consumer credit counseling service to set up a plan that will allow you to pay everything as well.

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