Unemployed.. will credit card companies allow me to skip one payment??

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I stopped paying my mortgage in June and kept up with the minimums on credit cards to keep the credit available and because I don't want to default on them but there's no money left to pay on the cards this month. If I call the card companies BofA, Citi and Chase and tell them I lost my job will they allow me to skip one payment without reporting it to credit bureaus? I've been holding off to keep the credit lines available but don't want to make the mistake of simply missing a payment if there's a way to work with them.

Anyone?

Thanks!!

[Cat Damiano]

I am not understanding why you would default on your mortgage above the credit cards. Are you strategically defaulting and walking away letting the property foreclose? I only ask this because depending on what state you are in there are programs available for unemployed and underemployed homeowners who wish to keep their homes.

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Cat.. sorry for the confusion.

I have applied for the unemployment program and should have received the paperwork 2 weeks ago... I have not yet called to follow up because sadly the unemployment program requires that my second must agree to also allow me to skip payments and my second said they do not offer the unemployment program on second mortgages.

Bottom Line... I will ultimately be turned down for the unemployment program. The initial idea was to default on the mortgage only (my home is nearly $200k under water) and continue paying everything else on time... staying in the house as long as possible while paying off credit cards and saving money to move. I have remained undecided on if I would shoot for the short sale once I saved enough $ BUT THEN I unexpectedly got laid off a few months back. I have continued paying the credit cards for the past 3 months hoping/expecting to get a job and follow through with plan A (pay all except the mortgage) for a quicker credit score recovery... unfortunately I haven't gotten a job and the money well is officially dry. I am screwed.

I was hoping that the card companies might have something in place like the mortgage companies do for extenuating circumstances to skip a payment. I called one of my card companies yesterday and was not only told 'no'..... they urged me to close my account and do a payment plan which I dewclined but also today they cut my credit lines to only 100 available on each card (I have 2)... so glad I called (NOT)!

[Cat Damiano]

Credit Card companies do have hardship programs in place, but they make it difficult to get to the right department.

Little known credit card hardship programs offer help for problem debt

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Thanks CAT! I called Citi and they told me the only hardship program they offer is to close the card permanently in exchange for a lower interest rate or some payment plan but this article has re-energized me to call my other card companies to see if they offer something.

It seems at this moment that there's no way to avoid my credit getting further hit - I don't have the money. The sad part for me is I am interviewing with several companies and the offers can come as early as tomorrow but even in the best cast scenario I still won't get a paycheck until at least the 1st and likely the 15th of september which is too late. I really have been working my tail off to find something as quickly as possible so the cards could continue to be paid. I am sick over this.

[Cat Damiano]

I am so sorry that you are having to go through this, they sure don't seem to be wanting to help. I had issues with a Chase Visa, always paid on time but unfortunately just the minimum at the time which of course didn't move my balance by much, then they closed the account. They aren't very receptive to programs like this either.

Good Luck with the interviews!!

[BigBlok502]

I was hoping that the card companies might have something in place like the mortgage companies do for extenuating circumstances to skip a payment. I called one of my card companies yesterday and was not only told 'no'..... they urged me to close my account and do a payment plan which I dewclined but also today they cut my credit lines to only 100 available on each card (I have 2)... so glad I called (NOT)!

Hey PFD,

I'm in a similar situation, perfect credit score, never missed any payments ever. Then my 25 year career ending when the company closed it's door and took my pension plan with them. I can tell you from my experience the Banksters/Credit Card companies are not your friends. The first credit card company cut my credit limit to the balance I owed "due to my spending habits". All of a sudden I went from having a 35 percent balance to a maxed out credit card which in turn lowers your credit rating. It didn't take but a couple of weeks and another credit card did the same thing, lowered my credit limit to my balance. One by one each of the credit cards did the same thing (this was before the reform, 18 months ago.) I missed one payment, forgot to put a stamp on the envelope and suddenly my 8 percent credit card went to 31 percent. So much for customer loyalty, some of the credit cards I had for over 30 years. That was the straw that broke the camels back, I stopped making payments on all of my credit cards December 2009. They have since all charged off, some have been re-sold and they all can kiss my butt.

Screw the credit card companies, stop paying them! (IMHO)

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BigBlok... the very same thing happened to me! And they have ruined me ... since 2008 I have been living this nightmare of 29% interest rates and everytime the balance comes down they lower the credit line again.... It's an evil circle and like you I've had a couple of cards over 25 years!!! I would be at about 35% right now but one by one in a row they keep cutting my limits and refuse to lower the darn rates by more than a couple of points... it's disgusting and NEVER once have I paid late... EVER

CAT, Thanks for your well wishes!! I'm numb at this point....