DH Templates

Credit issues-Everywhere I look says“Notify ur company of Financial Difficulty”so they work w/u. Letter Help?

Every time I have ever encountered “Lawyer Speak” they turn the words of the ‘average’ person around to mean something they didn’t mean right when you think that things are finally coming to a close. I want to send a letter to my Business Partner’s credit card companies telling them about our financial hardship but I don’t want the Lawyer Speak to turn this in to something I don’t intend. I am wondering if there is a “Template” to send to credit card companies explaining that we are having financial difficulties and that we want them to work with us to cut back on the fees and fines so that we don’t end up snowballed and in bankruptcy court. Basically I see the credit card company’s POV from the standpoint of a Mafia Boss… “If we kill the guy we loaned money to, he will never be able to pay it off.” So it is in their best interest to work with us… I want to come to an arrangement that everyone can live with because if they keep exponentially increasing the amount of debt, they will fine/fee us in to never being able to settle this matter… They will, essentially, be putting the bullet in our heads if they don’t… but I don’t want anything said to try and get this taken care of amicably to come back and bite us in the butt later on. Understand? I have found legal document templates all over the internet, but I can’t locate anything like this. Can anyone link me or recommend some wording for the letter I will be sending out to my Business Partner’s credit card companies? (P.S. Payments go in every month but they are below the “Minimum Payment” so apparently they don’t count and we can’t get anyone to say anything but “Pay us in full or face the consequences.)

Public Comments

1. Probably is not a good way, but this is a only way to save yourself. Don't pay a minimum payment, because this aloud them to charge you all kind of fee, try to talk to them about fix payment and low APR. If they will say they can't do this, then just don't pay at all. After 3-6 month of not paying they will sell you balance to collection agency for 10%. In a mean time you save every penny and try to accumulate some balance on your account. When collection agency will call you, they are ready to do negotiation with you and cut your balance by 30-50-75% . Just don't do less then minimum payment, this money do not go any ware and they still show us a late payment on a credit report. Good Luck. Keep all the record of your communications with them.