I've tried working with a credit card company over late fees/debt. I can of course make some payments, but they're always lower than the overdue fees they continuously charge. In other words I'm paying, but still always guaranteed to be kept falling behind with this regimen, so it seems futile.
What is the best way to handle this? Keep paying and keep falling behind regardless? Ask the company to charge it off and change the terms so that I'm no longer accruing debt even as I pay?
Because if I'm charged more than I can pay, won't this be like grasping on to a slippery rope as you keep on falling and falling down? It seems logical to pay because you owe debt, but you can't ever fix the issue with this approach. Should one keep paying but accruing more of a net loss endlessly?
Even if you worked with a payment plan, those are limited and they go back to full effect on late fees/etc. right after the program ends, which forces you back in to a constant net loss & vicious cycle.