What should I do if I can't pay my credit cards?

This is a segment from one of our live Q&A streams. Be sure to subscribe to be notified when we go live to answer your questions again. :)

When you're unable to pay your credit cards, we recommend getting in touch with your credit card company and see if you can work something out with them.

If you're unable to work out something with your credit company, you can talk with a consumer protection attorney in your area to figure out what the best course of action is. Whether to file bankruptcy or wait till there's a better settlement offer, etc.

Thanks for watching!

John G. Watts
Watts & Herring, LLC
Representing consumers across Alabama
205-879-2447

"No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers."

[georgemalley]

Stop telling people to call the Credit Card Companies THEY DO NOT CARE AND NEVER OFFER HELP!
I went through not being able to pay, and I called every single creditor and not one offered any help.

[robertlopez]

I paid 3 times my balance I cannot oford to pay anymore

[dajoremarks]

They all offer that but what they want you to do is lower the rate. They're not budging right now

[princessmeganelsa]

Already Paid my platlium card in Full today my first platlium card ever!! 😃😃🌻💐🌻💗

[michaudsmall]

Credit card companies or "Credit Instrument Companies, " as I like to call them, are a corporate entity. They are defined by law as corpus delecti. They cannot originate credit without a natural persons signature and are not the original creditor. The consumer, natural person, is the original creditor. Finance companies and the likes there of operate as Fidicuary for beneficiaries, who in this case are consumers. The consumer is issued a credit card and are the card holder. The United states corporation is the card issuer and has agreed to resolve all alleged debts created by the card holder since 1933. The "credit card companies" issue credit instruments and should not be confused with a credit card which in turn give the consumer the ability to access their trust.

In short. I the consumer, when engaging in a consumer credit transaction, originate and extend a line of credit from my trust (ALL CAPS NAME) to the financial corporation of my choice. Once the financial institution is granted access to my credit card, it must then act as a trustee (fiduciary) and provide me with a credit instrument which gives me the ability to make purchases directly or indirectly utilizing my credit card (Social Security Card, Driver's License, License plate, etc) which is attached to my trust (ALL CAPS NAME). Any actions taken by said financial institution using my credit card that does not benefit me as a consumer/beneficiary is unauthorized. This includes but is not limited to charging me for anything they have already been paid for through the consumer credit transaction. Failing to disclose such information and forcing a consumer into "an alleged debt" is fraud. Financed charges include the sum of all charges. Either you are paying with CREDIT or CASH. Never both.

Always remember laws are not put in place to protect the government or corporations they are put in place to protect the natural persons which in this case are referred to as consumers. TILA, FCRA, FDCPA, CFPB, FTC and NCUA have been put into place in order to protect consumers, natural persons, from all form of malpractice.