Discover Puts Me Further Into Debt

I am in the same mess as you, but someone else took out a loan to pay
my debt for me. My parents took out a home equity loan for my debt,
and I am paying them back for the next two years a little bit at a
time. Some employers offer loans for charge payoffs. Or you can
transfer your balance to another lower interest credit card, but you
might be better off to leave it the way it is, because you don't want
to be stuck with two accounts. Since you would love to have all of
the money back, it might be a temptation to spend more, with two
accounts open-just make sure you find a __free credit counseling
service. We received an application in the mail for a credit
counselor and they only charge about 35.00 dollars a month for the
service, but I have not tried it. I think the fee was for costs
incurred, but that it was a non-profit organisation. It sounded like
a good idea.

It is your own fault that the interest rate is so high. Read the
little booklet with the terms and conditions that comes with your
shiney new credit card. A lot say that late payments will raise your
interest rate when late payments are made. Obviously 8 months isn't
good enough to show them that you can pay on time.

The fees are what led you to go through the payment plan... Ok... you
agreed to those fees and terms when you applied for the credit card.
You knew they would be there. You knew you had a limit, were paying
late, and were going to get charged a fee which would put you over the
limit and you would get charged another fee. This is your own fault
not Discover. You distroyed your own financial situation by buying
things you could not pay for!

I actually commend Discover Card for suggesting credit
counseling...most would not even bother telling you that there are
alternatives, it sounds as though the employee is actually trying to
make you aware that
1. Credit Counseling Service is available
2. If you enter into an agreement your interest rate will be lowered
-if not removed all together
3. That you will be able to pay it off much easier than by paying it
on your own.

I'm guessing you don't want to go this route, as this will close the
account, you may not want to have a closed account, but why do you
want to pay more money to discover? Even if they lowered your
interest, it would still take you a long time to pay it off, even if
you paid an extra $10+ dollers, I say Go w/ the credit counseling. I
highly recommend the Freedom Point services...they are great!

you to do to try to make the situation better. It's a shame that they
won't just close your account, drop the interest rate, and let you
just pay off what remains. I'm sure they have made their money, but
hang in there. Try each month to pay just $10 or $15 over the minimum.
That's 2 or 3 Happy Meals. See if in a few months you aren't seeing
the balance go down. And NO MORE late payments, OK?

A lot of store charge cards have an interest rate of 25%+ so really
its not crazy of Discover to charge someone who is obviously high risk
that much. At some point you need to accept responsibility for your
actions and take steps to improve your situation. If you went 6800+ in
debt just to Discover I doubt a credit counseling service would be a
bad thing to consider. Good luck to you in fixing your credit.

You should take their advice and go to a credit councelling service.
Or get a bank loan, or transfer your balance to a card with a lower
interest rate.

Discover didn't put you into debt, you did that yourself. Most credit
card companies assess a higher percentage rate to customers they
consider high-risk. Your being in their payment plan must have put
you into that category, and you agreed to all of this when you signed
up to receive their card.

Interest rates do suck, and often they are unfair. But you did sign
up for a Discover card, and you did put yourself into debt. Credit
card companies aren't your friend, they are in business to make money,
not to help you out when you need it. Bottom line, don't charge more
than you can reasonably afford to pay back. And don't expect tea and
sympathy from Discover when you do.

The late fees over limit fees ect..ect.. are what led me to have to go
through your payment plan in the first place.


this is discovers problem how?

Don't blame Discover for your debt. True, the late fees and overlimit
fees add up, but you and you alone opened the card, used it and ran up
the credit limit.