because of the sudden onset of CHF in my situation, i had to rely heavily on my credit cards to survive. once i became officially disabled and realized my prickly situation with the credit card companies, the fees and penalties just kept growing. i have since found out through the legal services of the Hudson Valley in NY that these fees and penalties can be stopped. below i have pasted the sample letter i have received from legal services in hopes that it may help some of you in the same position as myself. although it says federal act, i would double check with a legal service in your state.
(date)
(credit card company and address)
RE: (your name and address)
(YOUR ACCOUNT NUMBER)
Dear Sir or Madam:
I am writing to inform you that at this time I am supporting myself on a monthly income of less than (amount) per month. My only source of income is Social Security.
The federal Social Security Act, 42 U.S.C. 407(a) provides:
None of the monies paid or payable or rights existing under this
Chapter shall be subject to execution, levy, attachments, garnish-
ment or other legal process, or operation of any bankruptcy or
insolvency law.
This means that you may not take any action to collect money from me. I have no appreciable
assets that may legally be repossessed or garnished.
Please immediately cease contacting (your name) regarding this debt that I cannot pay.
Yours very truly,
(your name)