How to Ask For Credit Card Forgiveness

Sometimes well-meaning people find themselves in unavoidable life circumstances and cannot pay all of their bills. Whether you had an unexpected emergency or are trying to overcome a history of problematic spending, you first need to forgive yourself for ending up in financial hot water. It will not do you any good to try to ask others for credit card forgiveness if you still experience guilt and shame over your financial troubles.

Most people with financial problems want to avoid the issues. This is understandable because a lot more people would rather discuss their sex lives than their money challenges. However, avoiding the issue will only make it harder for you to ultimately find financial reprieve.

Hiding from bill collectors is a major way that people try to avoid their debt problems. Ultimately this will backfire on you. If you have some type of assets or income, you will likely be sued in court. Plus, simply avoiding the calls and letters will not make your debts vanish. In fact, that lack of communication virtually guarantees that your credit rating will be trashed for the next 7 years. If you are sued, the damage could last longer depending upon your state of residence and whether you eventually pay the court judgment.

Is bankruptcy a way of avoiding the issue? Not necessarily. In fact, during any type of bankruptcy case you must continually face the reality of your financial situation. All of your spending habits, income, and assets will be reviewed by several court officials. Your creditors have the right to access this information; in rare cases they may oppose your request for partial (Chapter 13) or virtually complete (Chapter 7) bankruptcy.

If you're not quite ready to take the bankruptcy route, try calling or writing each of your credit card companies to ask for a hardship program. Keep in mind that you will probably have an easier time achieving your objective if you have a reputable credit counselor work on your behalf. These days you can't file even a partial bankruptcy without at least one session of credit counseling, so talking to someone about your options is a necessary part of any process that aims to get you out of debt at different terms than to which you originally agreed. No matter what you do to get credit card forgiveness, keep all paperwork that you send and receive. Problems could crop up years down the road and you want proof that you either paid under a special agreement or filed some form of bankruptcy on that debt.

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