Ignoring A Problem...
I had 2 credit cards that I just ignored. Completely ignored them. I did so because I forgot to pay them and was hit with late payment penalties. I called both of them and asked to have the charges removed since it was my first time and they both declined to do so. So I said "fuck it, i'm not paying them" Little did I think about the fact that they ALWAYS win. Over the course of the last 4 months, I was constantly called by the card companies and just didn't answer the calls. Even when the statements came, I just put them through the shredder. Why I did this, I do not know. I paid the other ones on time and was paying more than the minimum.
Well, as you can guess, they hit me with late and overlimit fees each month. In 4 months, my balances had double, but I still wasn't paying them. That was until I got 2 letters from collection agencies. You can best believe that my eyes popped wide open when I read both of those. I did like one of those white women reading a bad letter. I actually leaned against and slid down the wall until I was sitting on the floor. I hadn't thought about my credit report or credit score up until that point, but I did at that moment. I won't reveal my credit score, but I will tell you that it dropped from the high 600s to the very low 600s in those 4 months.
I immediately called the collection agency to set up payment plans over the next 6 months to get them paid off. I then called all of my other credit card companies and set up payment plans with them also to get them paid off over the next year.
It's going to be tough because I set all of them up to pay more than the minimum due, but it will be worth it to be out of credit card debt in a year. Luckily, I am moving into a 3 bedroom, 3 bath apartment with 2 of my friends. That will reduce my monthly housing expenses by $550. After my last roommate experience, you would think that I wouldn't ever want another one. But these 2 are people whom I have know for quite a while who have steady jobs and are doing quite well. So this time, things should be better.
In closing, a word of advice to all is to never ignore a bill no matter if you can pay it or not. Just call the company you owe and let them know your situation.