Here’s a very useful website for people with severe credit card problems. It’s by Rene Uy from Davao, and acccording to his profile, he:
Graduated from a Chinese High School, became green in college and turned to a blue masteral studies. After finishing college in three years, worked with a bank for P10/day no-work- no-pay basis and has been w/ loans and credit until the end. FRUSTRATION IN LIFE: Just when I had the answers, they changed the question. MY ADVOCACY: Just because you are a past due account does not mean we cannot remain as friends; and that it already gives me a license to humiliate you! MY TEACHINGS: Repayment should be based on cash flow and not on threats. It is like availing a loan based on collateral and not on the purpose.
Basically, the site provides advice to people who have defaulted in credit card payments, and are now being harassed by card companies and collecting agencies. (Harassment includes those phone calls at ungodly hours from rude agents threatening to haul all your possessions.) We’ve all heard stories like that, and I know people who have been subject to that harassment.
His site doesn’t apply to me (at least not yet), but I’m sure it’s helpful for many others. Dear God, I hope I do get to pay off all of my debts before (God, forbid) I run out of work or something.
Thanks to Dave Q for the tip!